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I*W NN..> -14- Section 11. (a) That if there be any default in the payment of the principal of and interest on any of the bonds, or if the City defaults in any Bond Fund requirement or in the performance of any other covenant contained in this Ordinance, the Trustee may, and upon the written request of the holders of not less than ten percent (100) in principal amount of the bonds then outstanding shall, by proper suit compel the performance of the duties of the officials of the - City under the Constitution and laws of the State of Arkansas and under this Ordinance and protect and enforce the rights of the bondholders by acceleration, instituting appropriate proceedings in law or equity or other action deemed necessary or desirable by the Trustee. (b) No holder of any bond shall have any right to institute any suit, action, mandamus or other proceeding in equity or at law for the protection or enforcement of any right under this Ordinance or under the Constitution and laws of the State of Arkansas unless such holder previously shall have given to the Trustee written notice of the default on account of which such suit, action or proceeding is to be taken, and unless the holders of not less than ten percent (100) in principal amount of the bonds then outstanding shall have made written request of the Trustee after the right to exercise such powers or right of action, as the case may be, shall have accrued, r- and and shall have afforded the Trustee a reasonable opportunity either to proceed to exercise the powers herein granted or granted by the Constitution and laws of the State of Arkansas, or to institute such action, suit or proceeding in its name, and unless, also, there shall have been offered to the Trusteelreasonable security and indemnity y against the cost, expenses and liabilities to be incurred thereon or thereby and the Trustee shall have refused or neglected to comply with such request within a reasonable time, and such notification, request and offer of indemnity are hereby declared in every such case, at the option of the Trustee, to be conditions precedent to the