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200403825 ARTICLE V BOND FUND AND ADDITIONAL PAYMENTS Section 1. The Project is being sold on the basis of a conditional sale to the College under the Contract and the basic payments under the Contract have been assigned and shall be remitted directly to the Trustee for the account of the Corporation and deposited in the Bond Fund, and the entire amount of said basic payments is pledged to the payment of the principal of and interest on the Bonds. Section 2. There is hereby created by the Corporation and ordered established with the Trustee a trust fund to be designated "Bond Fund ", which shall be used to pay the interest on and principal of said Bonds. Section 3. There shall be deposited in the Bond Fund, as and when received, all basic payments due under the Contract and all other monies received by the Trustee under and pursuant to any of the provisions of the Contract directing such monies to be paid into the Bond Fund. The Corporation hereby agrees that should there be a default under the Contract with the result that the College's rights to possession of the Project under the Contract cease, the Corporation shall fully cooperate with the Trustee and with the bondholders to the end of fully protecting the rights and security of the bondholders, and shall diligently proceed in good faith and use its best efforts repossess and resell the Project (as and to the extent of those portions thereof which may practically be repossessed and resold) to the end of deriving sufficient monies from the Project to promptly meet and pay the principal of and interest on the Bonds as the same become due and payable. Section 4. Monies in the Bond Fund shall be used solely for the payment of the interest on the Bonds and for the retirement of the Bonds at or prior to maturity. Section 5. The Bond Fund shall be in custody of the Trustee, and the Corporation hereby authorizes and directs the Trustee to withdraw funds from the Bond Fund in amounts sufficient to meet installments of interest or principal upon the Bonds when due. The Trustee hereby accepts such authorization and direction. Section 6. In the event any Bonds shall not be presented for payment when the principal thereof becomes due, if funds sufficient to pay such Bonds and interest thereon shall have been made available to the Trustee for the benefit of the registered owners thereof, all liability of the Corporation to the registered owners thereof for the payment of such Bonds or interest thereon, as the case may be, shall forthwith cease, determine and be completely discharged and thereupon it shall be the duty of the Trustee to hold such fund or funds, without liability for interest thereon, for a period of five (5) years after such Bonds shall have matured, for the benefit of the registered owners of such Bonds, who shall thereafter be restricted exclusively to such funds for any claim of whatever nature on their part under this Indenture or on, or with respect to, such Bonds. At the expiration of such period, any unclaimed principal or interest shall be paid to the College and thereafter all claimants shall be restricted exclusively to making claim against the College for such principal or interest. The College shall have no liability for interest on any such funds paid to it and shall not be required to hold such funds in trust nor, in any manner, to segregate such funds on its books. Anything in this Section 6 to the contrary notwithstanding, the Trustee shall be permitted to discharge all responsibility with respect to any such funds held for Bonds which have matured in accordance with the provisions of Sections 69 -1301 to 69 -1329, R.R.S. Neb. 2003, as now in effect or hereafter amended. 16