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Exhibit C. All payments made from the Construction Fund shall be presumed by the Trustee to <br />be made for the purposes certified in said statement, and the Trustee shall not be required to see <br />to the application of any payments made from the Construction Fund. <br /> <br /> None of the funds in the Construction Fund shall be used for any purposes other than the <br />payment or reimbursement of Project Costs and, if authorized hereby and applicable, the <br />payment of principal of, premium (if any) on and interest on the Bonds. <br /> <br /> The Trustee shall not be bound to make an investigation into the facts or matters stated in <br />any Draw Request Certificate of the City. The Trustee shall not be responsible for determining <br />whether the fimds on hand in the Construction Fund are sufficient to complete the Project. The <br />Trustee shall not be responsible to collect lien waivers. <br /> <br /> Section 4.05 _De. posit and Investment of Excess Moneys.. The Trustee shall invest the <br />moneys on deposit in the Construction Fund, at the direction of the City, in Qualified <br />Investments. In the absence of written direction delivered to the Trustee from the Cit~, the <br />Trustee shall havest in any funds in Qualified Investments. The Trustee shall, from time to time, <br />cause any such investments to be sold or otherwise be converted into cash, whereupon the <br />proceeds derived from such sale or conversion shall be deposited into the Construction Fund. <br />Any interest or profit derived from investments shall be credited to said Fund. Investments <br />permitted under this Section may be purchased from the Trustee or from any of its affiliates. No <br />portion of the Construction Fund representing proceeds of the Bonds shall be invested or used in <br />such manner that any of the Bonds would be "arbitrage bonds" under Section 148 of the Internal <br />Revenue Code and regulations thereUnder. <br /> <br /> Section 4.06 ~AppIication of Balance in Construction Fund. When a Certificate of the <br />City Representative pursuant to Section 3.5 of the Lease shall have been furnished to the Trustee, <br />any balance in the ConstructiOn Fund (after reserving such mount as the City Representative <br />shall deem necessary for the payment of any remaining amoUnts due or to become due for <br />Project Costs, and after returning to the City any contingent funds which may have been <br />deposited by.the City into the Construction Fund as additional funds to finance the total Project <br />Costs and found to be unnecessary for such purpose) shall be deposited in the Bond Fund and, if <br />the City so directs, shall be credited against (he next Rental Payments due under the Lease. <br /> <br />1763903vl <br /> <br /> <br />