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I l <br /> (b) any funds held by the Trustee (as mortgagee under the Mortgage) on behalf of the Developer <br /> pursuant to the Mortgage or the Regulatory Agreement. <br /> GRANTING CLAUSE TWO <br /> All right, title and interest of the Issuer in and to any money held under this Indenture <br /> by the Trustee except for (i) moneys and investment obligations held by the Trustee for the <br /> redemption of Bonds notice of the redemption of which has been duly given, (ii) moneys and <br /> investment obligations held by the Trustee for the payment of the principal of, premium, if any, <br /> and accrued interest on the Bonds that have become due and payable but not presented to the <br /> Trustee for such payment and (iii) money and investment obligations held in the Rebate Fund. <br /> GRANTING CLAUSE THREE <br /> Except for the Rebate Fund, all funds, moneys and securities and any and all other rights <br /> and interest in property whether tangible or intangible from time to time hereafter by delivery <br /> or by writing of any kind, conveyed, mortgaged, pledged, assigned or transferred as and for <br /> additional security hereunder for the Bonds by the Issuer or by anyone on its behalf or with its <br /> written consent to the Trustee, which is hereby authorized to receive any and all such property <br /> at any and all times and to hold and apply the same subject to the terms hereof. <br /> TO HAVE AND TO HOLD all the same with all privileges and appurtenances hereby <br /> conveyed and assigned, or agreed or intended so to be, to the Trustee and its successors in said <br /> trust and to them and their assigns forever; <br /> IN TRUST NEVERTHELESS, upon the terms and trusts herein set forth for the equal <br /> and proportionate benefit, security and protection of all owners of the Bonds issued under and <br /> secured by this Indenture without privilege, priority or distinction as to the lien or otherwise of <br /> any of the Bonds over any of the others of the Bonds, provided that the Rebate Fund and any <br /> money or investments required to be deposited therein and any other amount required to be paid <br /> to the United States of America shall be held for the benefit of the United States of America and <br /> not for the benefit of the owners of the Bonds; <br /> PROVIDED, HOWEVER, that if the Issuer or its successors or assigns shall pay or <br /> cause to be paid to the owners of the Bonds the principal, interest and premium, if any, to <br /> become due thereon at the times and in the manner provided in Article IX and if the Issuer shall <br /> keep, perform and observe, or cause to be kept, performed and observed all its covenants, <br /> warranties and agreements contained herein, this Indenture and the estate and rights hereby <br /> granted shall, at the option of the Issuer, cease and be void, and thereupon the Trustee shall <br /> cancel and discharge the lien of this Indenture and execute and deliver to the Issuer such <br /> instruments in writing as shall be requisite to satisfy the lien hereof, and reconvey to the Issuer <br /> any property at the time subject to the lien of this Indenture which may then be in its possession, <br /> 3152.1 3 <br />