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TABLE OF CONTENTS <br />(continued) <br />Page <br />Section6.05 Unclaimed Moneys..................................................................................................25 <br />ARTICLE VII <br />CONCERNING PAYING AGENT <br />Section 7.01 Paying Agent; Appointment and Acceptance of Duties .......................................... 25 <br />Section 7.02 Paying Agent - General Responsibilities.................................................................25 <br />Section 7.03 Certain Permitted Acts............................................................................................. 26 <br />Section 7.04 Resignation or Removal of Paying Agent and Appointment of Successor ............. 26 <br />ARTICLE VIII <br />COVENANTS OF THE CITY <br />Section 8.01 <br />Payment of Principal and Interest............................................................................26 <br />Section 8.02 <br />Performance of Covenants by City; Authority; Due Execution..............................27 <br />Section 8.03 <br />Instruments of Further Assurance............................................................................ <br />27 <br />Section 8.04 <br />No Inconsistent Action............................................................................................ <br />27 <br />Section8.05 <br />No Adverse Action.................................................................................................. <br />27 <br />Section 8.06 <br />Maintenance of Powers............................................................................................ <br />27 <br />Section 8.07 <br />Covenants of City Binding on Successors...............................................................28 <br />Section 8.08 <br />Trust Agreement to Constitute a Contract...............................................................28 <br />Section 8.09 <br />City to Perform Pursuant to Continuing Disclosure Certificate .............................. <br />28 <br />ARTICLE IX <br />INVESTMENTS <br />Section 9.01 Investments Authorized...........................................................................................28 <br />Section9.02 Reports.....................................................................................................................29 <br />Section 9.03 Valuation and Disposition of Investments...............................................................29 <br />Section 9.04 Application of Investment Earnings........................................................................ 29 <br />ARTICLE X <br />DEFEASANCE <br />Section 10.01 Discharge of Bonds; Release of Trust Agreement ................................................... 30 <br />Section 10.02 Bonds Deemed Paid................................................................................................. 30 <br />ARTICLE XI <br />DEFAULTS AND REMEDIES <br />Section 11.01 <br />Events of Default..................................................................................................... <br />31 <br />Section11.02 <br />Remedies..................................................................................................................31 <br />Section 11.03 <br />Restoration to Former Position................................................................................ <br />32 <br />Section 11.04 <br />Bondholders' Right to Direct Proceedings on their Behalf ..................................... <br />32 <br />Section 11.05 <br />Limitation on Bondholders' Rights to Institute Proceedings ................................... <br />32 <br />Section 11.06 <br />No Impairment of Right to Enforce Payment.......................................................... <br />32 <br />Section 11.07 <br />Proceedings by Trustee Without Possession of Bonds ............................................ <br />32 <br />Section 11.08 <br />No Remedy Exclusive............................................................................................. <br />33 <br />Section 11.09 <br />No Waiver of Remedies........................................................................................... <br />33 <br />Section 11.10 <br />Application of Moneys............................................................................................ <br />33 <br />Section 11.11 <br />Severability of Remedies......................................................................................... <br />34 <br />City Council ii 33 - 12 3/16/2021 <br />4846-535-8811v3/200434-0005 <br />