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escrow as the Construction Fund is withdrawn by the City. SECTION 9• Both the Bond and Interest Fund and the Con - t uctinn Fund sr shall be deposited in a bank or banks holding membership in the Federal Deposit Insurance Corporation. Vouchers upon either fund must be signed by two duly authorized persons. SECTION 10. If default is made and continues for thirty days in the payment of any interest coupon, the holder of the bond to which it is attached may declare the same immediately due and payable, and the failure of the holder to exercise this option upon any default shall not be a waiver of his right to exercise the option upon any subsequent default. SECTION 11. The bonds of this issue shall be callable for payment prior to maturity according to the terms set out in the face of the bond form in Section 3 of this ordinance. SECTION 12. The First National Bank of Batesville, Arkansas, is designated as Trustee, authorized to act for and on behalf of the bondholders, but it shall be responsible only br wilful wrong in the execution of its trust, and the recitals of fact contained herein and in the bonds themselves (except the Trustee's Certificate) are statements made by the City and not by the Trustee. The Trustee shall not be required to take notice of any default or to take any action hereunder until it shall have been notified in writing of said default and indemnified to its satisfaction against any loss, expense or cost that it may incur by taking action. The holders of a majority in value of the outstanding bonds at any time may, by an instrument duly executed and recorded in the office of the City Clerk, appoint a new Trustee, who shall have all of the powers of the Trustee originally named, and the Trustee herein named may resign at any time upon ten days' notice in writing mailed to the City Clerk. SECTION 13. The terms of this ordinance shall constitute a contract between the City of Batesville and the holders of the bonds herein authorized, and no variation or change in the undertakings herein set out shall be made while any of these bonds are outstanding, and the holder of any bond may at any time, for and on his own behalf, or the Trustee may, for and on behalf of all the bondholders, enforce