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M <br />EJ <br />B. Stern-Slegman-Prins Co.lpany has unconditionally guaranteed the <br />prompt performance of the rental and all other obligations of the Lessee under the <br />Lease Agreement and the Stern Guaranty Agreement is pledged and assigned <br />to the Trustee as security for the payment of the principal of and interest on <br />the bonds. All references herein to pledging the revenues derived from the <br />Project or the revenues derived from the mortgaged property shall include all <br />payments under the Stern Guaranty Agreement. Furthermore, the City agrees, <br />upon the request of the Trustee, to enforce all covenants and obligations of <br />the guarantor under the Stern Guaranty Agreement and agrees that the Trustee, <br />in its own name or in the name of the City, may and is hereby granted the right <br />to enforce all obligations of the guarantor under the Stern Guaranty Agreement, <br />whether or not the City is in default in its covenant to enforce said obligations. <br />Reference is hereby made to the provisions of the Stern Guaranty Agreement for <br />a detailed statement of the terms thereof, including beneficiaries thereunder. <br />