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<br />. <br /> <br />, <br /> <br />. <br />. <br /> <br />. <br />. <br /> <br />ARTICLE V <br />ESTABLISHMENT OF FUNDS AND APPLICATION OF BOND PROCEEDS <br /> <br />SOl. General. <br /> <br />(A) As provided in Section 102, the Revenues are pledged to the <br />payment of the principal of, Redemption Price, if any, and interest on the <br />Bonds in accordance with their terms and the provisions of this Resolution. <br /> <br />(B) All such Revenues shall immediately be subject to the lien of <br />the pledge without any physical delivery thereof or further act, and the lien <br />of the pledge shall be valid and binding as against all parties having claims <br />of any kind in tort, contract or otherwise against the Agency~ irrespective of <br />whether such parties have noti ce thereof. <br /> <br />502. <br /> <br />Funds and Accounts. <br /> <br />(A) The Agency hereby establishes the following Funds and <br />Accounts within said Funds: <br /> <br />(1) Bond Proceeds Fund <br />(a) I ss uan ce Expense Account - <br /> <br />(b) Mortgage Loan Purchase Account - <br /> <br />(c) Temporary Accounts - <br />as necessary <br /> <br />(2) Revenue Fund <br />(a) Interest Account <br /> <br />(b) Principal Account <br />(3) Mortgage Reserve Fund <br />(4) Debt Service Reserve Fund <br />(5) Operating Fund <br />(6) Asset Accumulation Fund <br />(7) Redemption Fund <br /> <br />(B) Each of the above designated Funds and Accounts shall be <br />established and held by the Trustee for the benefit of the Bonds. <br /> <br />28 <br />