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<br />. <br /> <br />. <br /> <br />. <br />. <br /> <br />. <br />. <br /> <br />Permitted Investments means any of the following which at the time <br />are legal investments for the Agency under the laws of the State, and to the <br />extent provi ded by 1 aw, for the moneys hel d hereunder then proposed to be <br />invested therein: (i) time or demand deposits in, or other banking <br />arrangements with the Trustee, or any bank or trust company having capital and <br />surpl us aggregating not less than $50,000,000 and authorized to accept <br />depos its of pub l ic funds, wh i ch are secured at all times by bonds or other <br />obligations which are authorized by law as security for public deposits, of a <br />market value at least equal to the amount required by law; and/or (ii) Federal <br />Securities, and/or repurchase agreements secured by Federal Securities. <br /> <br />Prepayment means any amount rece ived or recovered wh i ch reduces or <br />el iminates the principal aIOOunt of any Mortgage Loan other than scheduled <br />amortization payments of the principal amount of any suc.h Mortgage Loan, <br />including any Prepayment penalty, fee, premium or other such additional <br />charge, less the amount retained by any Servicer of such Mortgage Loan as <br />additional compensation on account of such Prepayment. <br /> <br />hereunder. <br /> <br />Principal <br /> <br />Account means the Account by that name establ ished <br /> <br />Principal Installment means, with respect to any particular <br />Principal Installment Date, an amount equal to the sum of (i) the principal <br />amount of Outstanding Serial Bonds payable on such Principal Installment Date <br />as determined by the Supplemental Resolution, and (ii) the principal amount of <br />a Sinking Fund Installment with respect to all Outstanding 1!,!rm Bonds payable <br />on such Principal Installment Date or within such Bond Year as determined by <br />the Supplemental Resolution. <br /> <br />Principal Installment Date means July 1 of any year, commencing <br />July 1, 1982, in whi ch Bonds are Outstanding, or such other date as may be <br />specified in a Supplemental Resolution. <br /> <br />Princi pa 1 Offi ce, when used with respect to the Trustee or any <br />Paying Agent, means the principal or corporate trust or head or principal <br />trust office of such Trustee or Paying Agent situated in the city in which <br />such Trus tee or Paying Agent is described as being located. <br /> <br />Principal Requirement means, as of the date of calculation and with <br />respect to the Bonds Outstanding on said date of calculation, the amount of <br />money, to be determined colTl11encing twelve (12) months prior to the next <br />Principal Installment Date (which amount shall be revised accordingly if <br />Outstanding 80nds shall thereafter be redeemed prior to the next Principal <br />Installment Date), and which amount shall be equal to the unpaid Principal <br />Installment or Installments then due, if any, plus the Principal Installment <br />to become due on the Bonds on the next succeeding Principal Installment Date, <br />and one-twelfth (1/12th) of the amount so determined shall be deposited <br />monthly by the Trustee into the Principal Account. <br /> <br />10 <br />