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<br />25 <br />4846-5351-8811v3/200434-0005 <br />favor of the holders of the Bonds issued and Outstanding under this Trust Agreement and for the <br />further security of such holders until paid out or transferred as hereinafter provided. <br />Section 6.03 Creation of Redemption Fund. A Fund to be held by the Trustee is hereby <br />created and designated the “City of Santa Ana Taxable Pension Obligation Bonds, Series 2021, <br />Redemption Fund” (the “Redemption Fund”). All moneys deposited by the City with the Trustee <br />for the purpose of redeeming Bonds shall be deposited in the Redemption Fund. All amounts <br />deposited in the Redemption Fund shall be used and withdrawn by the Trustee solely for the purpose <br />of redeeming Bonds in the manner, at the times and upon the terms and conditions specified in this <br />Trust Agreement; provided that, at any time prior to giving such notice of redemption, the Trustee <br />shall, upon receipt of written instructions from an Authorized City Representative, apply such <br />amounts to the purchase of Bonds at public or private sale, as and when and at such prices (including <br />brokerage and other charges) as directed by the City. <br />Section 6.04 Moneys Held in Redemption Fund. All moneys which shall have been <br />withdrawn from the Revenue Fund and deposited in the Redemption Fund for the purpose of paying <br />any of the Bonds hereby secured, either at the maturity thereof or upon call for redemption, shall be <br />held in trust for the respective Holders of such Bonds. <br />Section 6.05 Unclaimed Moneys. Any moneys which shall be set aside or deposited in <br />the Redemption Fund, the Bond Principal Account, the Bond Interest Account or any other Fund or <br />Account for the benefit of Holders of Bonds and which shall remain unclaimed by the Holders of <br />such Bonds for a period of one year after the date on which such Bonds shall have become due and <br />payable (or such longer period as shall be required by State law) shall be paid to the City, and <br />thereafter the Holders of such Bonds shall look only to the City for payment and the City shall be <br />obligated to make such payment, but only to the extent of the amounts so received without any <br />interest thereon, and the Trustee and any Paying Agent shall have no responsibility with respect to <br />any of such moneys. <br />ARTICLE VII <br /> <br />CONCERNING PAYING AGENT <br />Section 7.01 Paying Agent; Appointment and Acceptance of Duties. The City hereby <br />appoints the Trustee as the Paying Agent for the Bonds. <br />Section 7.02 Paying Agent - General Responsibilities. <br />(a) The City may at any time or from time to time appoint a different Paying <br />Agent or Paying Agents for the Bonds, and each Paying Agent, if other than the Trustee, shall be a <br />commercial bank with trust powers and shall designate to the City and the Trustee its principal office <br />and signify its acceptance of the duties and obligations imposed upon it hereunder by a written <br />instrument of acceptance delivered to the City under which each such Paying Agent will agree, <br />particularly: <br />(i) to hold all sums held by it for the payment of the principal of, and <br />premium or interest on, Bonds in trust for the benefit of the Bondholders until such sums shall be <br />paid to such Bondholders or otherwise disposed of as herein provided;