Indenture of Trust (1996) - Laserfiche WebLink

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remaining after such work has been completed as certified by such Member to the Trustee shall after payment of amounts due the Trustee be paid to such Member. (c)Application of Eminent Domain Proceeds. If all or any part of the Leased Premises shall be taken by eminent domain proceedings (or sold to a government threatening to exercise the power of eminent domain) the Net Proceeds therefrom shall be deposited with the Trustee in the Insurance and Condemnation Fund pursuant to Section 6.1(b) of the affected Member's Lease Agreement and shall be applied and disbursed by the Trustee as follows: (i) If such Member has not given written notice to the Trustee, within forty-five (45) days following the date on which such Net Proceeds are deposited with the Trustee, of its determination that such Net Proceeds are needed for the replacement of the affected Leased Premises or such portion thereof, the Trustee shall transfer such Net Proceeds to the Redemption Fund to be applied towards the redemption of the Bonds allocable to such Member pursuant to Section 4.01(b). (ii) If such Member has given written notice to the Trustee, within forty-five (45) days following the date on which such Net Proceeds are deposited with the Trustee, of its determination that such Net Proceeds are needed for replacement of the affected Leased Premises or such portion thereof, the Trustee shall pay to such Member, or to its order, from said proceeds such amounts as such Member may expend for such repair or rehabilitation, upon the filing of Written Requisitions of such Member as agent for the Authority in the form and containing the provisions set forth in subsection (b) of this Section 5.07; provided, however, that the replacement premises must be added as a Substitute Site or a Substitute Facility pursuant to Section 8.3 of the applicable Lease Agreement. (d)Application of Title Insurance Proceeds. The Net Proceeds from a title insurance award shall be deposited with the Trustee in the Insurance and Condemnation Fund pursuant to Section 6.1(b)of the affected Member's Lease Agreement and shall be transferred by the Trustee to the Redemption Fund to be applied towards the redemption of the Bonds allocable to such Member pursuant to Section 4.01(b). Section 5,08. investments. All moneys in any of the funds or accounts established with the Trustee pursuant to this Indenture shall be invested by the Trustee solely in Permitted Investments.Such investments shall be directed by the Authority pursuant to a Written Request of the Authority filed with the Trustee at least two (2) Business Days in advance of the making of such investments (which Written Request shall certify that the investments constitute Permitted Investments). In the absence of any such directions from the Authority, the Trustee shall invest any such moneys in Permitted Investments described in clause (h) of the definition thereof. Permitted Investments purchased as an investment of moneys in any fund shall be deemed to be part of such fund or account. All interest or gain derived from the investment of amounts in any of the funds or accounts established hereunder shall be deposited in the Bond Fund,except that interest or gain derived from the investment of the amount in the Reserve Account shall be retained therein to the extent required to maintain the Reserve Requirement, and except that interest or gain derived from the investment of amounts in each account of the Project Fund shall be retained therein and used for the purposes thereof. All interest or gain derived from the investment of amounts in the Reserve Account deposited in the Bond Fund shall be allocated to each Member on a pro rata basis (determined by computing such amount using the same percentage as represented such Member's percentage of the Bonds on original issuance). To the extent that any investment agreement requires the payment of fees, such fees shall be paid from available moneys in the Bond Fund after the deposit of moneys described in Section 5.02 (a) through (c) -24-