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52 <br />in the event of optional redemption pursuant to Section 4.01(b) or (c) hereof, upon money being <br />deposited as and if required by Section 4.03 hereof, the Bonds and portions thereof called for <br />redemption shall become due and payable on the redemption date, and upon presentation and <br />surrender thereof at the place or places specified in that notice, shall be paid at the redemption <br />price, including interest accrued to the redemption date. Except as provided in Section 9.02 hereof, <br />the Trustee shall make a drawing under the Letter of Credit, and, if necessary, under the <br />Confirming Letter of Credit, if any, to pay the principal of and interest due on the Bonds being <br />redeemed. Any moneys received by the Trustee from the Borrower which are available to be <br />applied toward the payment of such principal and interest, shall be paid (i) to the Bank to reimburse <br />the Bank for any drawing made under the Letter of Credit, or (ii) to the Confirming Bank to <br />reimburse the Confirming Bank for any drawing made under the Confirming Letter of Credit, to <br />pay such principal and interest. <br />Subject to the provisions of Section 13.05 hereof, if money for the redemption of all of the <br />Bonds and portions thereof to be redeemed, together with interest accrued thereon to the <br />redemption date, is held by the Trustee on the redemption date, so as to be available therefor on <br />that date and if notice of redemption has been deposited in the mail to the registered owner of the <br />Bond or Bonds to be redeemed as aforesaid, then from and after the redemption date those Bonds <br />and portions thereof called for redemption shall cease to bear interest and no longer shall be <br />considered to be outstanding hereunder. If those moneys shall not be so available on the <br />redemption date or that notice shall not have been deposited in the mail as aforesaid, those Bonds <br />and portions thereof shall continue to bear interest, until they are paid, at the same rate or rates as <br />they would have borne had they not been called for redemption. <br />All moneys deposited in the Bond Fund and held by the Trustee for the redemption of <br />particular Bonds shall be held in trust for the account of the Holders thereof and shall be paid to <br />them, upon presentation and surrender of those Bonds, except as provided in Section 3.06 hereof. <br />Section 4.06. Variation of Redemption Provisions.The provisions of this Article IV, <br />insofar as they apply to the issuance of any series of Additional Bonds, may be varied by the <br />Supplemental Indenture providing for that series. <br />END OF ARTICLE IV <br />ARTICLE V <br />PROVISIONS AS TO FUNDS, PAYMENTS, PROJECT AND AGREEMENT <br />Section 5.01. Creation of Project Fund.There is created by the Issuer and ordered <br />maintained in the custody of the Trustee, a trust fund designated “City of South Bend, Indiana <br />Variable Rate Demand Economic Development Revenue Bonds, Series 2007 (PEI/Genesis <br />Project) Project Fund”. The proceeds of the Project Bonds shall be deposited into the Project <br />Fund; provided, however, any proceeds representing accrued interest on the Project Bonds shall <br />be deposited in the Bond Fund. The proceeds of the sale of any Additional Bonds, other than any <br />proceeds representing accrued interest which shall be deposited in the Bond Fund pursuant to <br />Section 5.03 hereof, shall be deposited in the Project Fund set forth in the Supplemental Indenture <br />relating to those Additional Bonds. If the unexpended proceeds of a prior issue of Bonds remain