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1992-06-23 Resolution 57
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1992-06-23 Resolution 57
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7/18/2008 5:29:58 PM
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• Bonds and are to be used by the Escrow Trustee, as trustee for such <br />bondholders, only as set forth in this Agreement. <br />Section 16. Permitted Acts. The Escrow Trustee and its <br />affiliates may become the owner of or may deal in the 1988 Bonds <br />as fully and with the same rights as if it were not the Escrow <br />Trustee. <br />Section 17. Unclaimed Moneys. Upon termination hereof <br />in accordance with Section 18 hereof, any moneys then held by the <br />Escrow Trustee under the terms hereof shall be transferred and <br />applied in accordance with Section 8 hereof. <br />Section 18. Term. This Agreement shall commence upon <br />its exECUtion and delivery and shall terminate when the 1988 Bonds <br />have been paid and discharged in accordance with the provisions of <br />~. the 1988 Resolution and the 1988 Trust Agreement and all duties and <br />obligations of the Escrow Trustee pursuant to this Agreement have <br />been fulfilled and satisfied, and any remaining moneys, together <br />with any increment thereto and interest earned thereon in the <br />Escrow Fund have been transferred by the Escrow Trustee to the <br />South Bend Redevelopment Authority Parking Facility Sinking Fund <br />in accordance with Section 8 hereof. If any 1988 Bonds are not <br />presented for payment, the Escrow Trustee shall retain funds for <br />that purpose in accordance with the provisions therefor contained <br />in the 1988 Trust Agreement and in accordance with Indiana law. <br />Section 19. Agreement Binding. All the covenants, <br />promises and agreements in this Agreement contained by or on behalf <br />of the Authority or by or on behal f of the Escrow Trustee shal l <br />• <br />-16- <br />
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