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(b) The Escrow Trustee is authorized to sell any securities so acquired from time <br />to time in order to make the payments authorized in this Agreement. Investment of the Escrow Fund <br />shall mature prior to the time the funds invested will be needed for payment of principal of and <br />interest on the Note. <br />Section 5. Use of Escrow Funds. Each year on February 1, Escrow Trustee shall <br />make an interest payment on the Note as provided hereinabove from the January 25 lease rental. <br />Any amounts remaining in the Escrow Fund remaining after said payment (the "Remaining Funds ") <br />shall be invested by Escrow Trustee as provided hereinabove. Each year on July 1, Escrow Trustee <br />shall provide notice to the Commission of the anticipated interest earnings on the balance of the <br />Escrow Fund through July 25. The Commission shall receive a credit for such amount by pro -rata <br />reduction in the rental payment due under the Lease on July 25 of that year. Each year on August <br />1, Escrow Trustee shall make a principal and interest payment on the Note as provided hereinabove, <br />which payment shall be equal to the sum of the Remaining Funds plus the July 25 lease rental <br />payment, less the credit for interest earned on the Remaining Funds. <br />Section 6. Application of Escrow Fund After Payment of Note. After payment <br />of the principal of and interest on the Note, all remaining moneys in the Escrow Fund together with <br />any increment thereto and interest earned thereon, shall be transferred promptly by the Escrow <br />Trustee to the Commission for deposit into the Bond Fund. <br />Section 7. Indemnification of Escrow Trustee. The Authority hereby agrees to <br />indemnify the Escrow Trustee and hold it harmless from any and all claims, liabilities, losses, <br />actions, suits or proceedings at law or in equity, by reason of its acting as Escrow Trustee under this <br />Agreement, except in the case of the negligence or willful misconduct of the Escrow Trustee, its <br />5-2 <br />::ODMA\PCDOCS \SB DOCS 1 \37351 \ 1 <br />