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82002566
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Last modified
3/10/2009 6:29:56 AM
Creation date
2/28/2009 1:13:01 AM
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DEEDS
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82002566
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____.. <br />Section 5.07-. Payments into the` Construction Fund• <br />Disbursements.. The balance of the proceeds. of the issuance <br />and delivery-of the Bonds remaining after the deposit pro- <br />vided by the first sentence of Section 5.03 hereof has been <br />made shall be deposited in the Construction Fund. Z suer <br />.covenants and agrees to take all necessary and apprapriate <br />action promptly in approving and ordering: disbursements from <br />the Construction Fund in accordance with provisions of the <br />.Agreement'. Trustee is hereby authorized and directed to make <br />each di bursement required by"the provisions o£ the Agreement <br />and to issue its checks ;therefor: Trustee shall keep and <br />,..maintain adequate 'records pertainir_g to the Construction-Fund <br />..and all disbursements therefrom, 'and after the-Project has <br />'been completed: and a certificate of payment-o£ all costs. is <br />or has been filed as provided in Section 5.08 hereof; Trustee <br />shall file an acccunting thereof with Tssuer,and Company. <br />'Section S.O. Comcletion of Proiect. The completion o£ <br />the Project-`and payment or provision made-:far payment o£-a11 <br />Gosts'of Construction shall be evidenced by the filing with <br />Trustee of .the certificate required by Section a.5 of the <br />Agreement. As Boor. as practicable and in any event 'not more <br />than sixty.(60) days frpm the date of the certific=_te <br />referred to in the preceding'sentenae, ary balar_ce remaining <br />3n the Construction r^und (except arnouhts Company shall have:- <br />directed Trustee to retain for any Cost of Construction not <br />then :due and :payable) salt without further authorization-be <br />used by Trustee in`the manner-Drovided in':5ection 4.5' of the <br />Agreement. <br />Section'S.09.. Nonoresentment of Bonds; Disposition of <br />Unclaimed Money... In the'event,any Bond shall no*_ be <br />presented for payment when the principal thereof becomes due, <br />either at maturity, or at the date fixed _or redemnti.on <br />thereof, or otherwise, if funds sufficient to pay any'such <br />Bond shall have been made available to Trustee fer the <br />.benefit of the holder thereof; all liability of issuer to the <br />holder thereof for the payment o£ such Bond shall forthwith <br />cease, deterr.;inz and be completely discharged, and thereupon <br />it shall be the duty of Trustee to hold such funds; without <br />liability for interest .thereon; for the benefit of the holder <br />of such Bond who shall thereafter be restricted exclusively <br />to such funds;; for any claim of whatever nature on his part <br />under this Indenture or on, or with respect to, such Bond, <br />All moneys deposited witfi Trustee for the,paymert of <br />principal of-premium, `if any, or interest `on ,any 3onds, are <br />presumed abandoned unless, within seven years after trey <br />become .payable or distributable, the holder has increased or <br />decreased the 'principal, accepted 'parnent of principal or <br />-23- <br />L..__ <br />
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