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Article 3.

In case default shall be made in the payment of the interest
coupons upon the said bonds, or any thereof, after demand
therefor, and such coupon or coupons shall remain so unpaid

and in arrears for the period of ninety days, or in case
default shall be made after demand in the payment of the principal
of any of the said bonds, when the same by the terms
thereof shall become due and payable, then, and in either of
said cases, it shall be the duty of the said Trust Company to
exercise the power conferred, and sell, or take proper legal
proceedings to enforce the rights of the holders of the said
bonds upon a requisition in writing to that effect being made
upon the said trustee, signed by the holders of at least one
third of the whole amount of the said bonds then outstanding,
and upon a proper indemnification to the said trustee against
all costs and expenses to be by it incurred in the premises.