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<br />19 <br />ARTICLE III <br />APPLICATION OF SERIES 2022 BOND PROCEEDS AND OTHER FUNDS <br />Section 3.1 Deposit of Series 2022 Bond Proceeds and Other Funds. The Issuer shall <br />deposit with the Trustee the Net Proceeds from the sale of the Series 2022 Bonds, which consists <br />of an amount equal to $_____________ (which amount represents the par amount of the Series <br />2022 Bonds ($_____________), plus original issue premium ($_____________), less an <br />underwriter’s discount ($______________) to be retained by the Underwriter, and less the <br />premium for the Series 2022 Debt Service Reserve Fund Credit Facility allocable to the Series <br />2022 Bonds to be paid to by the Underwriter directly to the Series 2022 Credit Provider, for and <br />on behalf of the Issuer ($_____________________)) and the Trustee shall deposit the Net <br />Proceeds and the Issuer Funds as follows <br />(a) $_______________ of such amount shall be deposited into the Construction Fund <br />and disbursed therefrom for the purposes described in Section 4.5(b) hereof; and <br />(b) $_______________ (constituting the remainder of the Net Proceeds of the Series <br />2022 Bonds) shall be deposited into the Expense Fund and disbursed therefrom for the purposes <br />described in Section 4.6(b) hereof. <br />Section 3.2 Deposit of Proceeds of Additional Bonds. The Trustee shall deposit the net <br />proceeds of any subsequent Series of Bonds as provided in the Supplemental Indenture for that <br />Series of Bonds. <br />(End of Article III)