Regarding Issurance of economic development revenue refunding bonds Regency Place Project

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• SENT BY:KUTAKROCK • ;11- 4-92 ; 2:29PM ; 20222304911 12192371125;#39 Section 404. Application of Net Revenues. Upon receipt by the Trustee, all prepayments of the Mortgage Note shall be deposited to the Redemption Fund and used in accordance with Section 410 hereof and all other Net Revenues shall be distributed in the following order of priority: (1) Into the Bond Fund to pay Debt Service on the Bonds in accordance with Section 406; (2) Into the Expense Fund, the amount, if any, needed to pay Qualified Expenses; (3) Into the Debt Service Reserve Fund, an amount required to maintain the Debt Service Reserve Fund Requirement; and (4)• Commencing January 1, 1993, into the Redemption Fund, the balance, if any, in excess of the next principal and interest payment due on the Bonds. • Section 405. Application of Expense Fund. Subject to Sections 404, 407 and 410, all • amounts in the Expense Fund shall be used and withdrawn by the Trustee solely for the purpose of paying Qualified Expenses. Section 406. Bond Fund. (a) The Trustee shall deposit into the Bond Fund the amounts required by Sections 404, 407 and 408, and any other amounts received by the Trustee that are subject to the lien and•pledge of the Indenture and not otherwise deposited. w • - (b) _ Subject to Section 410, all amounts in the Bond Fund shall be used and withdrawn by the Trustee solely for the purpose of paying interest on the Bonds as it shall become due and - payable (including accrued interest on any Bonds purchased or redeemed prior to maturity pursuant to this Indenture), and paying the principal of the Bonds when due and payable. (c) The Trustee shall apply any money credited to the Bond Fund that has been set aside for scheduled mandatory redemption to the purchase of the Bonds scheduled to be redeemed in the manner provided in this Section; provided that no Bonds shall be purchased during the period of 30 days next preceding the date of a scheduled mandatory redemption established for the Bonds or after notice of such redemption shall have been given. The purchase price paid by the Trustee (calculated excluding accrued interest but including any brokerage and other charges) for any Bond purchased pursuant to this Section shall not exceed the redemption price of such Bond applicable upon its redemption through application of the money available for such purchase on the next date on which such Bond could be redeemed in accordance with its terms by operation of the scheduled mandatory redemption provisions. Subject to the limitations hereinbefore set forth or referred to in this Section, the Trustee shall purchase Bonds at such times, for such prices, in such amounts and in such manner (whether 3152.1 25