Regarding Issurance of economic development revenue refunding bonds Regency Place Project

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l • the Trustee shall deposit the Minor Portion and any FHA debentures in the Bond Fund and apply the interest income thereon and the principal thereof to Sinking Fund Redemption of Bonds pursuant to Section [ ] hereof; and the Trustee shall deposit all Funds Available for Extraordinary Mandatory Redemption which are in excess of the Minor Portion in the Redemption Fund and apply the same on the first practicable date to the Extraordinary Mandatory Redemption of Bonds; provided, that the Minor Portion shall not be invested for a period longer than necessary to pay the principal or Redemption Price of and interest on all Bonds Outstanding. (d) In the event that the mortgage insurance proceeds, Cash on Hand and the proceeds which could be realized from the sale of Investments on Hand are not sufficient to pay the principal or Redemption Price of and interest on all Bonds Outstanding in the manner described in paragraph (C) above, including funds which could be derived from the investment of the Minor Portion, then all Investments on Hand and all FHA debentures shall be sold and the proceeds of sale, together with all Cash Proceeds and Cash on Hand shall be deposited in the Redemption Fund and applied pursuant to paragraph (E) below. (e) Any proceeds from the sale of FHA debentures and other investments as deposited in the Redemption Fund pursuant to Section 6.06(E) hereof, and any amounts transferred to the Redemption Fund pursuant to paragraph (D)of this Section 6.07, shall be applied to the payment of the accrued interest and then to the principal then owing on the Bonds, and in case such moneys shall be insufficient to pay the same in full, then such amounts (including the interest and principal on any FHA debentures) shall be applied to the payment of interest and principal ratably without preference or priority of one Bond or coupon over another. Section 608. No Obligation of FHA. No provision of Trust Indenture shall impose any obligation upon FHA, confer upon any party hereto, or to any Bondholder any right against FHA, or relieve FHA of any obligation under the FHA mortgage insurance. Section 609. Remedies Vested in Trustee. All rights of action, including the right to file proof of claims, under this Indenture or under any of the Bonds may be enforced by the Trustee without the possession of any of the Bonds or the production thereof in any trial or other proceedings relating thereto and any such suit or proceeding instituted by the Trustee shall be brought in its name as Trustee without the necessity of joining as plaintiffs or defendants any holders of the Bonds, and any recovery of judgment shall be for the benefit as provided herein of the holders of the Outstanding Bonds. Section 610. Remedies of Bondholders. No holder of any Bond shall have any right to institute any suit, action or proceeding in equity or at law for the enforcement of this Indenture or for the execution of any trust hereunder or for the appointment of a receiver or any other remedy hereunder, unless (a) a default shall have occurred of which the Trustee shall have been notified as provided herein; (b) such default shall have become an event of default; (c) the 2975.1 41