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in demand or time deposits {which may be represented by certificates of <br />deposit) in any bank or trust company authorized to accept deposits of trust <br />funds {including the banking department of the Bank) and, as and to the extent <br />required by law, shall be secured at all times as trust funds. <br /> <br /> Moneys in the Note Fund and in the Construction Fund may, and upon the <br />written request of the Participating Party shall, De invested, by the Bank in <br />Federal Securities or certificates of deposit of banks maturing prior to the <br />date on which such moneys are estimated to be required to be paid out <br />hereunder. All interest or gain received during the construction of the <br />Project from such investments of moneys shall be deposited in the Construction <br />Fund; following completion of the construction of the Project, such interest <br />or gains shall be deposited in the respective fund or account from which such <br />investments were made. <br /> <br /> Section 4.04. Assignment to Bank. The City hereby transfers, assigns <br />and sets over to the Bank, as holder of the Note, all of the Revenues and any <br />and all rights, privileges and obligations it has under the Agreement, the <br />Deed of Trust and the Promissory Note including, without limitation, the right <br />to collect and receive directly all of the Revenues, and any Revenues <br />collected or received by the City shall be deemed to be held, and to have been <br />collected or received, by the City as the agent of the Bank, and shall <br />forthwith be paid by the City to the Bank. <br /> <br />ll <br /> <br /> <br />