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after payment of all taxes, assessments or liens prior to the lien of this Indenture (including <br />reasonable fees and disbursements of the Trustee), except any taxes, assessments or liens subject <br />to wh_ich any sale or other disposition of the Trust Estate or part thereof shall have been made, be <br />deposited in the Bond Fund, and all moneys in the Bond Fund maintained with the Trustee shall <br />be applied as follows: <br /> <br /> (a) Unless the principal of all the Bonds shall have become due and payable, all such <br />m(me,/s shall be applied: <br /> <br /> First: To the payment to the Bondholders entitled thereto of all installments of interest <br />then due on the Bonds, in the order oft. he maturity of the installments of such interest, and, if the <br />axnotmt available shall not be sufficient to pay in f~lI any Particular installment, then to the <br />payment ratably, according to the mounts due on such installment, to the Bondholders entitled <br />thereto, without any discrimination or privilege; and __. <br /> <br /> Second: To the payment to the Bondholders entitled thereto of the unpaid principal of <br />~my of; the Beads which shall have become due (other than Bonds called for redemption for the <br />payment of which moneys are held pursuant to the. provisions of this Indenture), in the order of <br />their due dates, and, if the amount available shall not be sufficient to pay in full Bonds due on <br />any particular date, then to the payment ratably, according to the mount of principal due on such <br />date, to the Bondholders entitled thereto without any discrimination or privilege. <br /> <br /> (b) If the principal of all the Bonds shall have become due, all such moneys shall be <br />applied to the payment of the principal and interest then due and unpaid upon the Bonds, without <br />pre tErence or priority of principal over interest or of interest over principal, or of any instaIlment <br />uf interest over any other installment of interest, or of any Bond over any other Bond, ratably, <br />according to the amounts due respectively for principal and interest, to the Bondholders entitled <br />thereto without any discrimination or privilege. <br /> <br /> Whenever moneys are to be applied by the Trustee pursuant to the provisions of this <br />Section, such moneys shall be applied by it at such times, and from time to time, as the Trustee <br />shall determine, having due regard to the amount of such moneys available for application and <br />the likelihood of additional moneys becoming available for such application in the future. <br />Whenever the Trustee shall apply such funds, .ii shall fix the date (which shall be an Interest <br />Payment Date unless it shall deem another date more suitable) upon which such application is to <br />be made and upon such date interest on the amounts of principal to be paid on such dates shall <br />cease to accrue. The Trustee shall give such notice as it may deem appropriate of the deposit <br />with it of any such moneys and of the fixing of any such date, and shall not be required to make <br />payment to the Holder of any Bond until such Bond shall be presented to the Trustee for <br />appropriate endorsement or for cancellation if fully paid. <br /> <br /> Whenever all Bonds and interest thereon have been paid under the provisions of this <br />Section and all expenses and charges of the Trustee have been paid, any balance remaining shall <br />be paid to the persons entitled to receive the same; if no other person sha!l be entitled thereto, <br />then the balance shall be paid to the City. <br /> <br />176)903v1 <br /> <br />107 <br /> <br /> <br />