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

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the Borrower the amount of rebatable arbitrage due upon the Trustee's receipt of an executed form 8038T, or copy thereof satisfactory to the Trustee(or such other form as shall be appropriate for reporting the rebate due)duly completed with respect to the applicable issue of Tax-Exempt Bonds and representations by the Borrower that it will apply such amounts to the payment of rebate due. In construing this Section all terms used in this Section shall have the meanings provided in Section 148 of the Code and regulations thereunder. Notwithstanding any other provision of this Section 5.11,any requirement imposed hereunder may be deemed inapplicable and of no force or effect if an written opinion of Bond Counsel is rendered to the Trustee to the effect that the failure to impose such requirement will not adversely affect the exclusion of interest on any Tax-Exempt Bonds from gross income for federal income tax purposes. Section 5.09 Insurance and Award Fund There shall be deposited into the Insurance and Award Fund all Net Proceeds of condemnation awards or insurance relating to condemnation,damage or destruction of the Project Facilities if in excess of$250,000. Amounts in the Insurance and Award Fund shall be disbursed by the Trustee to pay the cost of replacement,repair, reconstruction or restoration of the Project Facilities or transferred to the Bond Fund in accordance with Sections 5.10(and applicable provisions of the Disbursing Agreement)or 5.11 ofthe Loan Agreement and used to redeem Bonds pursuant to Section 3.01(b) hereof. Any amounts remaining in the Insurance and Award Fund after payment of all costs of replacement, repair, reconstruction, or restoration relating to the condemnation, damage or destruction to which such amounts relate, shall be transferred to the Optional Redemption Fund. All income realized from the investment of the Insurance and Award Fund shall be credited to the Insurance and Award Fund and transferred to the Revenue Fund. Section 5.10 Investment of Funds. To the extent authorized by the Act or other applicable law, moneys on deposit to the credit of any fund or account established under this Indenture shall,upon request by the Authorized Borrower Representative,be invested by the Trustee in Permitted Investments,which may be purchased from the Trustee or from any of its Affiliates. To the extent the Trustee receives no investment instructions from the Authorized Borrower Representative,amounts in the funds and accounts herein shall be invested in the Trustee's"AAA"rated treasury money market fund. Investments so made shall be deemed at all times to be a part of the respective account or fund, but may from time to time be sold or otherwise converted into cash,whereupon the proceeds derived from such sale or conversion shall be credited to such Account or Fund. Any interest accruing on and any profit realized from such investment shall be credited to the respective account or fund except as otherwise herein provided. Any investments purchased with amounts on deposit in any account or fund under this Indenture may be exchanged for cash or investments of equal value credited to any other account or fund. The Trustee shall redeem or sell, at the best price obtainable,any investments so made,whenever it shall be necessary to do so in order to provide moneys to meet any payment from the respective account or fund. Neither the Trustee nor the City shall be liable for any loss resulting from any such investment, nor from failure to preserve rights against endorsers or other prior parties to instruments evidencing any such investment. Monies credited to any account or fund maintained hereunder which are uninvested pending disbursement or receipt of proper investment directions or as directed herein, may be deposited to and held in a non-interest bearing demand deposit account established with the Commercial Banking Department of the Trustee or with any bank affiliated with the Trustee,without the pledge of securities to or other collateralization of such deposits accounts. Section 5.11. Operating Reserve Fund. On the •. . . :: :. . Date of Issuance,the Trustee shall deposit in the Operating Reserve Fund monks or a bank letter of credit equal to - 46 -