14-20 Cedar Glen Bond Ordinance Addendums

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the Borrower, (iii) any other amounts, including the proceeds of refunding bonds, for which, in each case, the Trustee has received an opinion of counsel acceptable to the Rating Agency(as defined below) to the effect that the use of such amounts to make payments on the Bonds would not violate Section 362(a) of the Bankruptcy Code (or that relief from the automatic stay provisions of such Section 362(a) would be available from the bankruptcy court) or be avoidable as preferential payments under Section 544, 547 or 550 of the Bankruptcy Code should the Issuer or the Borrower become a debtor in proceedings commenced under the Bankruptcy Code, (iv) any payments made by the Borrower and held by the Trustee for a period of 123 days, provided that no Act of Bankruptcy with respect to the Borrower has occurred during such period, (v) the Collateral Funds, and (vi) investment income derived from the investment of money described in clause(i),(ii), (iii), (iv)or(v). "Rating Agency"means Moody's Investor Services, Inc.,or any successor thereto. No Additional Parity Bonds The Indenture does not permit the Issuer to issue additional indebtedness prior to or on a parity with the Bonds. SECURITY AND SOURCES OF PAYMENT FOR THE BONDS The Bonds are special, limited obligations of the Issuer payable from the Trust Estate (as defined below). The Bonds and the interest thereon do not represent or constitute a general obligation, debt or bonded indebtedness or a pledge of the faith and credit,moneys or taxing power of the Issuer, the State, or any political subdivision of the State within the meaning of any constitutional or statutory limitations. Neither the Issuer nor the State nor any political subdivision of the State will be obligated to paythe principal of and the interest on the Bonds or other costs g P P incident thereto except from revenues pledged therefor and received under the Indenture, all as more fully set forth in the Indenture. The Bonds will be secured under the Indenture by all right,title and interest of the Issuer in and to (i) the Pledged Revenues, as defined below, including, without limitation, all payments by the Borrower pursuant to the Note (the "Loan Payments") and other amounts receivable by or on behalf of the Issuer under the Loan Agreement in respect of repayment of the Loan, (ii)the Special Funds, as defined below, including all accounts in those Funds and all money deposited therein and the investment earnings on such money, (iii) subject to the provisions of the Bond Resolution, all right,title and interest of the Issuer in the proceeds derived from the sale of the Bonds, and any securities in which money in the Special Funds are invested, and (except for money required to be rebated to the United States of America under the Code) the proceeds derived therefrom, and any and all other real or personal property of every name and nature from time to time pledged, assigned or transferred, as and for additional security under the Indenture by the Issuer or by anyone in its behalf, or with its written consent, to the Trustee, and (iv) the Loan Agreement and Note, except for certain unassigned rights of the Issuer. Such assets are referred to herein as the"Trust Estate." "Pledged Revenues"means(a)the Loan Payments, (b)all other money received or to be received by the Issuer or the Trustee in respect of repayment of the Loan, including without limitation, all money and investments in the Bond Fund, (c) any money and investments in the Project Fund and the Assignment Fund, and (d)all income and profit from the investment of the foregoing money. The term "Pledged Revenues"does not include any money or investments in the Rebate Fund or the Residual Fund. -5 -