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(e) Governmental Obligations" means investments in: (i) direct obligations of, <br />or obligations the principal and interest on which are unconditionally guaranteed by, the United <br />States of America; or (ii) time certificates of deposit fully secured as to both principal and interest <br />by obligations of the kind described in (i) above of a bank or banks, which obligations mature or are <br />subject to the redemption by the holder thereof at the option of such holder not later than the <br />respective dates when the Lease Rental, as hereinafter defined, together with interest accruing <br />thereon, will be required for payment of the Note. <br />(f) "Redevelopment District Bond Fund" means the fund authorized by I. C. 36 -7- <br />14 -25.1 for the payment of principal of and interest on any and all bonds issued and payable from <br />the Redevelopment District and for the payment of any fiscal agency charges in connection with <br />such payments. <br />Section 2. Appointment and Acceptance of Escrow Trustee. The Authority <br />hereby appointments and the Escrow Trustee hereby accepts appointment as Escrow Trustee. The <br />Escrow Trustee hereby agrees to perform the duties set forth herein with respect to the receipt of <br />Lease rentals, the investment of the same as provided herein, and the payment of principal and <br />interest on the Note to the Fiscal Agent. The Escrow Trustee further represents that it has all <br />requisite power, and has taken all corporate actions necessary, to execute and deliver this Agreement <br />and to perform its duties hereunder. <br />Section 3. Creation of Escrow Fund and Deposit of Funds for Payment of the <br />Note. <br />(a) There is hereby created and established with the Escrow Trustee a trust fund <br />designated the "South Bend Section 108 Loan Escrow Fund" (the "Escrow Fund "). The Escrow <br />-4- <br />::ODMA \PCDOCS \SBDOCS 1\37351 \1 <br />