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.. 2/28/78 . to be paid to such registered owner, and the Agency and the Fiscal Agent sball be released and discharged from all liability to the extent of such payment, irrespective of whether such endorsement shall or shall not have been made upon the revene of such fully registered Bond by such registered owner and irrespective of any error or omission in such endonement. ~ Section 13. Redemption FueL Prior to the time the Agency determines to call and redeem any of the Bonds there shall be established a redemption fund to be described or known as the City of Santa Ana Redevelopment Project Area, 1978 Tax Allocation Bonds Redemption Fund (hereinafter sometimes referred to as the "Redemption Fund") to be held by the FIscal Agent, and prior to the publication of the notice of redemption, referred to in Section 11 hereof, the FIscal Agent must set aside in the Redemption Fund moneys available for the purpose and sufficient to redeem, at the premiums payable as in this resolution provided, the Bonds designated in such notice of redemption. Said moneys must be set aside in said fund solely for that purpose and sball be applied on or after the redempttion date to the payment (principal and premium, if any) of the Bonds to be redeemed upon presentation and surrender of such Bonds and (except as to fully registered Bonds) all interest coupons maturing after the redemption date. Any interest coupon due on or prior to the redemption date shall be paid from the Interest Account, as provided in Section 19 hereof, upon presentation and surrender thereof. Any interest due on or prior to the redemption date upon fully registered Bonds sball be paid from said Interest Account. Each coupon Bond presented must have attached thereto or presented therewith all interest coupons maturing after the redemption date. If after all of the Bonds called have been redeemed and cancelled or paid and cancelled there are moneys remaining in the Redemption Fund, said moneys shall be transferred to the Special Fund; provided, however, that if said moneys are part of the proceeds of refunding obligations, said moneys shall be transferred to the fund created for the payment of principal of and interest on such refunding obligations. . Section 14. Meet of the Notice of Redemption. When notice of redemption has been given, substantially as provided in Section 11 hereof, and when the amount necessary for the redemption of the Bonds called for redemption (principal and premium) is set aside for that purpose in the Redemption Fund, as provided in Section 13 hereof, the Bonds designated for redemption shall become due and payable on the redemption date, and upon presentation and surrender of said Bonds and (except as to fully registered Bonds) all interest coupons maturing after the redemption date, at the place specified in the notice of redemption, such Bonds shall be redeemed and paid at said redemption price out of the Redemption Fund, and no interest will accrue on such Bonds called for redemption or OJ! any interest coupons thereof after the redemption date specified in such notice, and the holden of said Bonds so called for redemption after such redemption date shall look for the payment of such Bonds and the premium thereon only to the Redemption Fund. All Bonds redeemed and all interest coupons thereof shall forthwith be caD.celled by the Fiscal Agent and shall not be reissued. All interest coupons pertaining to any redeemed Bonds, which coupons have matured on or prior to the time fixed for redemption, shall continue to be payable to the respective holden thereof but without interest thereon. All unpaid interest payable at or prior to the date fixed for redemption upon fully registered Bonds shall continue to be payable to the respective registered owners of such Bonds, or their order, but without interest thereon. Section 15. Fwtds. There are hereby created with the Fiscal Agent the following special trust funds: (a) City of Santa Ana Redevelopment Project Area Redevelopment Fund (the "Redevelop- ment Fund"). (b) City of Santa Ana Redevelopment Project Area Special Fund (the "Special Fund"). 6 .