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1 accardance with the provisions of Sections 202(C)(3) and 801(E) of this Agreemeilt and the terms ? of the Insurance Policy. 3 4 All moneys received by the Trustee under the Insurance Policy shall be applied in ~ accordance with the terms and provisions of this Agreement to the payment of the principal of 6 and interest on the 1998 Certificates. 7 8 The County agrees that the Trustee in its name or in the name of the County may enforce 9 all rights of the Trustee and of the County and all obligations of the Insurer (including the ~o obligation of such Insurer to honor demands for payment duly presented in accordance with the I 1 terms and conditions of the Insurance Policy) under and pursuant to the ~Insurance Policy for the I? benefit of the Owners of the 1998 Certificates secured thereby. The Trustee agrees to assume and i3 perform the duties and obli~ations contemplated under the Insurance Policy to be assumed and ~ 4 performed by the Trustee. ~ ~5 I6 (D) RIGHTS OF 1998 CERTIFICATE INSURER CONTROLLING. Anything herein to the contrary 17 notwithstanding and except as otherwise provided below, if an Insurance Policy is in effect with i 8 respect to the 1998 Certificates and the Insurer is not in default of its obligation to make 19 payments thereunder, the Insurer shall be deemed to be the Owner of all 1998 Certificates then ?o Outstanding, with the exclusive right to exercise or direct the exercise of remedies on behalf of 2l the Owners of the 1998 Certificates in accordance with the terms hereof following an Event of 22 Default or a Termination Event, and the principal of all such 1998 Certificates Outstanding may 2~ not be declared to be due and payable immediately without the prior written consent of the 2a Insurer; provided that nothin~ herein is intended, nor shall it be construed, to permit the Insurer 25 (as deemed Owner of the 1998 Certificates as provided above) to consent to any of the followinb: 26 ?7 (1) any decrease in the principal component evidenced by any 1998 Certificate; ~g ?9 (2) any change in the maturity date of the principal component evidenced by any 1998 3o Certificate (other than by virtue of an acceleration following an Event of Default or a 31 Termination Event); '~ 33 (3) any change in the terms upon which the 1998 Certificates are subject to mandatory 3~ or optional prepayment as provided in this Agreement; ot 35 36 (4) the release of any Security for the 1998 Certificates eYCept as otherwise expressly 37 provided in this Agreement; 38 39 it being the intent of the parties that the approval of the actual Owners of the 1998 Certificates ao (as opposed to the Insurer as deemed Owner) affected thereby shall be required for any of the ai foregoing. 4? ~}3 (E~ PAYN1ENT PROCEDURE PURSUANT TO THE INSURANCE POLICY. FINANCING AND TRUST AGREEMENT PAGE 4H