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200403825 Section 7. It is understood and agreed that pursuant to the provisions of the Contract the College agrees to pay as additional payments the fees and expense of the Trustee for the Bonds and the other charges and expenses payable to the Trustee, as authorized and provided by this Indenture. The College is to make such payments either semiannually or annually on statements rendered by the Trustee. All such additional payments received by the Trustee under the Contract shall not be paid into the Bond Fund but shall be expended by the Trustee solely for the purpose for which said additional payments are received. Section 8. All monies required to be deposited .vith or paid to the Trustee under any provision of this Indenture or the Contract, except for payments to the Trustee for its fees and expenses, shall be held by the Trustee in trust. Section 9. After payment or provision for payment in full of the Bonds and fees of the Trustee, any balance remaining in the Bond Fund shall be paid to the Corporation. ARTICLE VI CONSTRUCTION AND ACQUISITION FUND Section 1. There is hereby created and established with the Trustee a trust fund in the name of the Corporation designated the "Distance Learning Project Construction and Acquisition Fund" (the "Construction and Acquisition Fund "). The net sale proceeds from the sale of the Building and Equipment Bonds, including accrued interest, shall be deposited into the Construction and Acquisition Fund. Section 2. Pursuant to the Contract, the Corporation has agreed to construct and acquire the Project as specified by the College. The Corporation hereby agrees that all costs relating to the Project shall be payable from the Construction and Acquisition Fund. Monies in the Construction and Acquisition Fund shall be expended to pay costs of the Project, including expenses for the issuance of the Building and Equipment Bonds, upon requisitions for payment signed by the College Area President of the College or any person designated by such College Area President as representative to execute such requisitions. The Trustee is hereby authorized and directed to cause disbursements to be made from the Construction and Acquisition Fund upon receipt of requisitions for payment, in the form attached hereto as Exhibit B, signed by said College Area President or his designated representative. Prior to making any disbursements from the Construction and Acquisition Fund, other than disbursements in payment of costs for issuance of the Building and Equipment Bonds, the Trustee shall have been furnished with the following: a. Evidence in form of a title report showing that title to the Site is vested in the College, in fee simple, subject to the Easement Agreement and such other covenants, restrictions and easements as do not interfere with the use of Building's and its site for the construction, installation and operation of the Project. b. A written statement made by the College Area President or his representative showing the total estimated cost for the Project based upon contract price information available after award of contract. If such total estimated cost exceeds the funds available from the Construction and Acquisition Fund such written statement shall be accompanied by evidence that the College has appropriated funds which will be available to provide for amounts needed to pay costs of the Project in excess of funds available in the Construction and Acquisition Fund. Such 17