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l the Owners. the Trustee shall be entitled, as a matter of right. to the appointment of a receiver for 2 the Securit}~. together with stich other powers as the eourt making such appointments sllall confer. 3 ~ SECTION 604. RIGHT OF CERTIFIC.4TE OWNERS TO DIRECT PROCEEDINGS. T h e 5 Ow°ners of not less than 2~ percent in aggregate principal amount of Certificates then Outstandin~7 6 shall have the right, at any time, by an instrument or instruments in writing executed and delivered 7 to the Trustee, to direct the method and place of conducting all proceedinas to be taken in connection 8 with the enforcement of the ternis and conditions of the Agreement or for the appointment of a 9 receiver ar any other proceedings hereunder; pf•oviclec~, hotivever•, that lo 12 13 I4 ts 16 17 18 19 20 ~~ ?~ ~; (1) such direction shall~not be otherwise than in accordance with the provisions of law; (2) the Trustee shall have the power to decline any such direction if in the judgment of the Trustee such direction is to the detriment of any Owners not joining in such direction; and (3) if the Trustee receives conflicting directions from two or more groups of Owners where each such group owns not less than 25 percent in aggregate principal amount of Certificates then Outstanding, the Trustee shall follow the directions that are provided by that group of Owners holding the largest aggregate principal amount of Certificates then Outstanding. ~ 24 No Owner of any Certificate shall have any right to institute any suit, action or proceeding 25 at law or in equity for the enforcement of any provision of this Agreement or the execution of any 36 trust under t11is Agreement or for any remedy under this Agreement, unless such Owner shall have 27 previously biven to the Trustee written notice of the happening of a Event of Default, as provided 28 in this Article, and the Owners of at least 25% in principal amount of the Certificates then ?9 Outstanding shall have filed a written request with the Trustee, and shall have offered it reasonable 30 opportunity, either to exercise the powers granted in this Agreement or by the Act or by the laws of 31 the State or to institute such action, suit or proceeding in its own name, and unless such Owners shall 32 have offered to the Trustee adequate security and indemnity against the costs, expenses and liabilities 33 to be incurred therein or thereby, and the Trustee shall have refused to camply with such request for 3~t a period of sixty (60) days after receipt by it of such notice, request and offer of indemnity, it being 35 understood and intended that no one or more Owners of Certificates shall have any right in any 36 manner whatever by his or their action to affect, disturb or prejudice the pledge created by this 37 Agreement. or to enforce any right under this Agreement, except in the manner herein provided; and 38 that all proceedings at law or in equity to enforce any provision of this Agreement shall be instituted. 3~ had and maintained in the manner provided in this Agreement and for the equal benefit of all 4o Owners of the Outstanding Certificates. ~- t ~t? Nothing in this Agreement or in the Certificates shall affect or impair the obligation of the ~3 County, which is absolute and unconditional, to pay, but solely and only from the Security pledged FINANCING .AND TRI~ST AGREEMENT PAGE 42