Regarding Issurance of economic development revenue refunding bonds Regency Place Project

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SENT BY;KUTAKROCK ;11- 4-92 ; 2:31PM. ;- 2022230491-) - 12192371125 #41 F . t limitations set forth in [the Tax Regulatory Agreement], to the limitations as to maturities hereinafter in this Section set forth and to such additional limitations or requirements consistent with the foregoing as may be established by written direction of the Developer. No Investment - Security which is subject to redemption at the option of the Issuer may be purchased at a premium above the amount of the premium payable upon any such redemption. To the extent the Investment Agreement is not in effect or does not meet the requirements of Clause 4 of the definition of Investment Securities, or if moneys available for investment are below the minimum permitted to be invested under the Investment Agreement, then the Trustee may use investments set-forth in Clause 5, provided that such investments shall not be in excess of the yield on the Bonds as set forth in the Tax Regulatory Agreement. If the Investment Agreement is not in effect, the Trustee shall immediately notify the Rating Agency of its termination, Moneys in all funds-and accounts established under this Indenture shall be invested in the Investment Agreement or in Investment Securities paying interest and maturing not later than the dates on which it is estimated that such moneys will be required by the Trustee. Investments in all funds and accounts may be commingled for purposes of making investments, and all gains or losses shall be allocated pro rata. Moneys in all funds and accounts shall be invested under the-Investment Agreement so long as the Investment Agreement is in effect. Any moneys in the . funds and accounts established under this Indenture which are not the subject of the Investment Agreement shall be invested in Investment Securities maturing on a date which is the earlier of 90 days from the date such investment is made or the date such funds are needed. All interest and other profit derived from such investments (other than with respect to moneys on deposit in the Rebate Fund or in the Expense Fund, in each case earnings and profits shall be retained within the funds from which they arose) shall be deposited when received in the Bond Fund. Investment Securities acquired as an investment of moneys in any fund or account established under this Indenture shall be credited to such fund or account. Section 409. Transfer of Moneys to Redemption Fund. Whenever amounts held in the Bond Fund, the Expense Fund and the Redemption Fund are sufficient to redeem, pursuant to Section 307 hereof, all Outstanding Bonds on the next date for which notice of redemption may be given pursuant to Section 304 and to pay all Qualified Expenses, all such amounts, net of - Qualified Expenses, shall be transferred to the Redemption Fund and all such Investment Securities shall be liquidated to the extent necessary to provide moneys sufficient for such redemption. Section 410. Rebate Fund. The Rebate Fund shall be administered by the Trustee in accordance with the provisions of this Section 4.10 and the Investment Instructions. • The Trustee shall engage for the account and at the expense of the Developer a professional to make the calculation(s) required by the Investment Instructions on each Computation Date (as defined in the Investment Instructions). The Trustee is required to make • 3152.1 ?7 4.,