A bondholder of the association shall have the right, in addition to all other rights, which may be conferred on such bondholder, subject only to any contractual restrictions binding upon such bondholder, by mandamus, suit, action or proceedings at law or in equity to compel said association and the commissioners, officers, agents or employees thereof to perform each and every term, provision and covenant contained in any contract of said association, with or for the benefit of such bondholder, and to require the carrying out of any or all such covenants and agreements of said association and the fulfillment of all duties imposed upon said association by this act.
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