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ARTICLE IV <br />l4ISCELLANCOUS PROVISIONS <br />4.01. Modification or Amendment. No material modifi- <br />cation or amendment of this instrument or of any instrument <br />amendatory hereof or supplemental hereto, may be made without <br />the consent in writing of the holders of two-thirds or more in <br />principal amount of the Bonds then outstanding; provided, however, <br />that no modification or amendment shall permit a change in the <br />maturity of such Bonds or a reduction in the rate of interest <br />thereon, or in the amount of the principal obligation, or affect <br />the unconditional promise of the Issuer to charge and collect <br />such rates, fees and charges for the use of the product, services <br />and facilities of the System and apply the same as herein provided, <br />or reduce the number of such Bonds the written consent of the <br />holders of which are required by this Section for such modifi- <br />cations or amendments, without the consent of the holders of <br />all such Bonds. <br />4.02 Creation of Superior Liens. The Issuer covenants <br />that except as herein provided it will not issue any other Bonds, <br />certificates or obligations of any kind or nature or create or <br />cause or permit to be created any debt, lien, pledge, assignment <br />or encumbrance or charge payable from or enjoying a lien upon the <br />revenues of the System ranking prior and superior to the lien <br />created by this instrument for the benefit of the Bonds. <br />4.03 Severability of Invalid Provisions. If any one <br />or more of the covenants, agreements or provisions of this <br />instrument or of the Bonds should be held contrary to any express <br />provision of law or contrary to the policy of express law, though <br />not expressly prohibited, or against public policy, or shall for <br />-any reason whatsoever be held invalid, then such covenants, <br />agreements or provisions shall be null and void and shall be <br />deemed separate from the remaining covenants, agreements or pro - <br />Visions of this instrument and of the Bonds. <br />4.04 Validation AMthorined. The Issuer's Attorney is <br />hereby authorized and directed to institute appropriate proccedinga_ <br />�1 A N E' 31 Pcox 33 FncE 39J <br />