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200302816 d. Evidence that there is builders risk insurance in effect with respect to the Project sufficient to cover replacement cost in the event of casualty damage, subject to a deductible amount not in excess of $25,000. Included in the acquisition costs eligible for payment out of the Construction Fund shall be expenses for issuance of the Building Bonds, including printing costs, initial Trustee's fees, CUSIP registration fees, DTC fees and the fees, costs of title report and expenses of bond counsel. Anything in this Section 2 to the contrary notwithstanding, the Trustee shall make disbursement for the payment of issuance expenses as soon as practicable after the issuance of the Building Bonds and based solely on requisitions from the College Area President or his representative accompanied by appropriate invoices. Section 3. The Trustee shall keep and maintain adequate records pertaining to the Construction Fund and all disbursements therefrom, and when the Construction Fund has been closed out, as provided in Section 4 of this Article VI, the Trustee shall file an accounting thereof with the College and the Corporation. Section 4. Upon the filing with the Trustee of the final requisition for payment, the Project shall be deemed completed. Any balance in the Construction Fund remaining after payment of the final requisition for payment shall be transferred to the Bond Fund without further authorization and shall be credited against the next payment of basic rent to fall due. ARTICLE VII INVESTMENTS Section 1. Monies held for the credit of any fund or account under this Indenture shall be kept invested and reinvested by the Trustee in Government Obligations or in bank savings accounts or certificates of deposit issued by banks, including the Trustee itself or affiliates of the Trustee, to the extent that said savings accounts or certificates of deposit are fully insured by the Federal Deposit Insurance Corporation, or in common trust funds or mutual funds or securities of investment companies which invest substantially all of their assets in securities described in this Article VII, including such securities as covered by repurchase agreements. Such investments shall have maturity dates or become due or will be redeemable or subject to sale by the holder, at the option of the holder, on or prior to the dates the funds will be needed. Obligations so purchased as an investment of monies shall be held by or under the control of the Trustee and shall be deemed at all times part of the fund or account from which invested, and the interest accruing thereon and any profit realized from such investments shall be credited to such fund or account and any loss resulting from such investments shall be charged to such fund or account. The Trustee shall sell and reduce to cash funds any investment in the Construction Fund upon written advice from the College Area President or his representative. Section 2. The Corporation hereby covenants to the purchasers and holders of the Building Bonds that it will make no use of the proceeds of said bond issue which would cause said Bonds to be arbitrage bonds within the meaning of Section 103(b) and 148 of the Internal Revenue Code of 1986, as amended, and further directs the Trustee to comply with said Section 103(b) and 148 and all applicable regulations thereunder throughout the term of said bond issue. 18