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cm rnr� of the acquisition of industrial facilities, constructing and equipping an addition thereto and the acquiring and installation of machinery and equipment for an indus- trial plant, has been leased to Westport Casuals, Inc. , an Arkansas corporation ("Westport"), for rentals sufficient to provide for the payment of the principal of and interest on the bonds as the same become due. Payment of the rentals and perform- ance of all other covenants and obligations of the Lessee (Westport) have been unconditionally guaranteed by Stern- Slegman-Prins Company, a Missouri corporation. The Project will be utilized by Westport for the conduct of its business including, without limitation, the manufacturing of such products as Westport shall elect to manufacture. Provision has been made for the lease rentals to be paid directly to the Trustee and deposited in a special account of the City designated "Batesville, Arkansas, 1968 Industrial Development Bond Fund - Westport Project" (the "Bond Fund"). The rentals and the revenues derived from the Project have been duly pledged by the Indenture to the payment of the principal of and interest on the bonds, and the bonds are secured by a lien on and security interest in the Project. The bonds do not constitute an indebtedness of the City within the meaning of any constitutional or statutory limitation. The holder of this bond shall have no right to enforce the provisions of the Indenture or to institute action to enforce the covenants therein or to take any action with respect to any event of default under the Indenture, or to institute, appear in and defend any suit or other proceedings with respect thereto, except as provided in the Indenture. In certain events, on the conditions, in the manner and with the effect set forth in the Indenture, the principal of all of the bonds issued under the Indenture and then outstanding may be declared and may become due and payable before the stated maturity thereof, together with accrued interest thereon. Modification or alterations of the Indenture, or of any Indenture supple- mental thereto, may be made only to the extent and in the circumstances permitted by the Indenture.