11-14-01 1. INDENTURE OF TRUST - Laserfiche WebLink

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rely and shall be protected in acting or refraining from acting upon the Draw Request of the Borrower,which may be submitted in facsimile form. The Trustee shall not be bound to make an investigation into the facts or matters stated in any Draw Request of the Borrower. The Trustee shall not be responsible for determining whether the funds on hand in the Project Fund are sufficient to complete the Project. The Trustee shall not be responsible to collect lien waivers. Notwithstanding the foregoing, upon the occurrence of any Event of Default, whether or not any Bonds are accelerated,the Trustee shall withdraw amounts from any account in the Project Fund selected by the Trustee to the extent necessary to pay principal, interest or redemption price on any Bond which is due and payable and for which other amounts held by the Trustee are not sufficient therefor. The Completion Date of the Project shall be established by the filing with the Trustee of the Authorized Borrower Representative's certificate and such other instruments as are required by Section 3.10 of the Loan Agreement. Section 4.04 Application of Balance of Construction Account. When the Project shall have been completed, as evidenced by a certificate signed by the Project Supervisor pursuant to Section 3.10 of the Loan Agreement,any balance in the Construction Account(after reserving such amount as the Authorized Borrower Representative shall deem necessary for the payment of any remaining amounts due or to become due as proper Project Costs)shall be deposited in the Optional Redemption Fund,provided that at the request of the Borrower, all or any of such balance may be deposited in the Bond Fund to meet Loan Repayments due or to become due if the Borrower shall furnish to the Trustee an Opinion of Counsel, who shall be nationally recognized bond counsel acceptable to the City and the Trustee,that application of such deposit to pay principal of and interest on the Series 2001 Bonds does not violate the Act or adversely affect the tax exempt status of interest on the Series 2001 Tax-Exempt Bonds. Any Certificate given pursuant to this Section may state that it is given without prejudice to any rights against third parties which may exist or subsequently arise. [The remainder of this page is intentionally left blank.] - 38 -