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200904064 Section 8. All monies required to be deposited with or paid to the Trustee under any provision of this Indenture or the Lease- Purchase Agreement, 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. I:\40140I14MIN�/I CONSTRUCTION FUND Section 1. The provisions of the Original Indenture relating to the Construction Fund shall remain in effect, it being understood that all amounts originally deposited therein have been expended in full for costs of the Project. In connection with the issuance of any additional bonds other than for refunding purposes, there shall be established with the Trustee under this Indenture a construction fund for the application of the proceeds of such additional bonds upon such terms and conditions as shall be deemed appropriate by the Corporation with the consent of the Trustee. Section 2. $4,000 from the proceeds of the Bonds shall be applied upon direction from the College, signed by the College Area President, to the payment of expenses relating to the issuance of the Refunding Bonds. The net proceeds of the Refunding Bonds, in an amount not less than $1,606,475.00 shall be applied upon receipt to the payment and satisfaction of the Series 2003 Bonds as called for payment under the terms of the Original Indenture. $39,986.24 from rentals due under the Lease- Purchase Agreement (as prepaid by the College) shall be added to such amount from the net proceeds of the Bonds and also applied to the payment and satisfaction of the Series 2003 Bonds. The Trustee shall apply such net proceeds and prepaid rentals to such redemption on the date fixed for redemption of the Series 2003 Bonds. The registered owners of the Refunding Bonds shall be subrogated to the rights of the holders of the Series 2003 Bonds, from and after their redemption. Any of such amount as designated above for payment of issuance expenses not required for such purposes, together with any other proceeds of the Refunding Bonds not required to redeem the Series 2003 Bonds, shall be transferred to the Bond Fund and applied to make principal payments on the Refunding Bonds falling due on September 1, 2009. 19