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200904064 ARTICLE VIII DISCHARGE OF LIEN Section 1. If the Corporation shall pay or cause to be paid to the registered owners of the Bonds the principal and interest to become due thereon at the times and in the manner stipulated therein, and if the Corporation shall keep, perform and observe all and singular the covenants and promises in the Bonds and in this Indenture expressed as to be kept, performed and observed by it or on its part, then these presents and the estate and rights hereby granted shall cease, determine and be void, and thereupon the Trustee shall cancel and discharge the lien of this Indenture and execute and deliver to the Corporation such instruments in writing as shall be requisite to satisfy the lien hereof and assign and deliver to the Corporation any property at the time subject to the lien of this Indenture which may then be in its possession, except cash held by the Trustee for the payment of interest on and retirement of the Bonds. Section 2. Bonds for the payment of which monies or Government Obligations which bear interest and mature in such amounts and at such times as to provide the monies required for the payment in full of the principal thereof and interest thereon shall have been deposited with the Trustee (whether upon or prior to the maturity of such Bonds) shall be deemed to be satisfied within the meaning of this Indenture and no longer outstanding. Section 3. It is specifically understood and agreed that release of the lien of this Indenture shall not affect nor cancel the provisions of this Indenture relating to Bonds issued or the rights of registered owners of Bonds, the Trustee or the Corporation, which provisions shall continue in full force and effect according to their terms until all Bonds issued under this Indenture have been paid and retired. Section 4. The Corporation may at any time surrender to the Trustee for cancellation by it any Bonds previously authenticated and delivered hereunder, which the Corporation or the College may have acquired in any manner whatsoever, and such Bonds, upon surrender and cancellation, shall be deemed to be paid and retired. ARTICLE IX DEFAULT PROVISIONS AND REMEDIES OF TRUSTEE AND BONDHOLDERS Section 1. If any of the following events occur, it is hereby defined as and declared to be and to constitute an "event of default ": (a) default in the due and punctual payment of the principal of or the interest on any Bond hereby secured and outstanding; (b) default in the due and punctual payment of monies required to be paid to the Trustee under the provisions of Article V hereof and the continuance thereof for period of five (5) days; or (c) default in the performance or observance of any other of the covenants, agreements or conditions on the Corporation's part contained in this Indenture or the Bonds outstanding hereunder and the continuance thereof for a period of thirty (30) days after written notice 21