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07
City of Pleasanton
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07
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2/3/2017 12:46:45 PM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
2/7/2017
DESTRUCT DATE
15Y
DOCUMENT NO
07
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First, to the payment of the costs and expenses of the Trustee, if any, in carrying <br /> out the provisions of this article, including reasonable compensation to its agents, accountants <br /> and counsel and including any indemnification expenses, <br /> Second, to the payment of the interest then due and payable on the entire principal <br /> amount of the unpaid 2017 Installment Sale Payments, and, if the amount available shall not be <br /> sufficient to pay in full all such interest then due and payable, then to the payment thereof <br /> ratably, according to the amounts due thereon without any discrimination or preference, and <br /> Third, to the payment of the unpaid principal amount of the 2017 Installment Sale <br /> Payments which has become due and payable, whether on the original due date or upon <br /> acceleration, with interest on the overdue principal and interest amounts of the unpaid 2017 <br /> Installment Sale Payments at the rate or rates of interest then applicable to such 2017 Installment <br /> Sale Payments if paid in accordance with their terms, and, if the amount available shall not be <br /> sufficient to pay in full all the amounts due with respect to the 2017 Installment Sale Payments <br /> on any date, together with such interest, then to the payment thereof ratably, according to the <br /> principal amount due on such date, without any discrimination or preference <br /> SECTION 6 03 Other Remedies The Trustee shall have the right <br /> (a) by mandamus or other action or proceeding or suit at law or in equity to <br /> enforce its rights against the City or any councilmember, officer or employee thereof, and <br /> to compel the City or any such councilmember, officer or employee to perform and carry <br /> out its or his duties under law and the agreements and covenants required to be performed <br /> by it or him contained herein, <br /> (b) by suit in equity to enjoin any acts or things which are unlawful or violate the <br /> rights of the Authority or the Trustee, or <br /> (c) by suit in equity upon the happening of an Event of Default to require the City <br /> and its councilmembers, officers and employees to account as the trustee of an express <br /> trust <br /> SECTION 6 04 Non-Waiver Nothing in this article or in any other provision <br /> hereof shall affect or impair the obligation of the City, which is absolute and unconditional, to <br /> pay the 2017 Installment Sale Payments from the Net Water Revenues to the Trustee at the <br /> respective due dates or upon prepayment, or shall affect or impair the right of the Trustee, which <br /> is also absolute and unconditional, to institute suit to enforce such payment by virtue of the <br /> contract embodied herein <br /> A waiver of any default or breach of duty or contract by the Trustee shall not <br /> affect any subsequent default or breach of duty or contract or impair any rights or remedies on <br /> any such subsequent default or breach of duty or contract No delay or omission by the Trustee <br /> to exercise any right or remedy accruing upon any default or breach of duty or contract shall <br /> impair any such right or remedy or shall be construed to be a waiver of any such default or <br /> breach of duty or contract or an acquiescence therein, and every right or remedy conferred upon <br /> the Trustee by law or by this article may be enforced and exercised from time to time and as <br /> often as shall be deemed expedient by the Trustee <br /> 17 <br /> 27626823 <br />
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