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<br />I <br />I <br />I <br />~ <br /> <br />I <br />! <br />l <br /> <br />ARTICLE VII <br />DISCHARGE OF RESOLUTION <br /> <br />If the Authori ty shall pay and di scharge the entire indebtedness on the <br />Bonds Outstanding in anyone or more or the following ways, to wit: <br /> <br />(a) by well and truly paying or causing to be paid the <br />principal of and interest and premium, if any, on the Bonds, as and <br />when the same become due and payable; <br /> <br />(b) by depositing with the Servicing Agent, at or before <br />maturity, money which, together with the amounts then on deposit in <br />the Jond Fund and the Reserve Fund is fully sufficient to the pay <br />the Bonds, including all principal, interest and premium, if any; <br />or <br /> <br />(c) by depos i t i ng wi th the Servi ci ng Agent, Federal <br />Securit i es in such amount a s the Authori ty sha 11 determi ne will, <br />together with the interest to accrue thereon and moneys then on <br />deposit in the Bond Fund and the Reserve Fund be fully sufficient <br />to pay and discharge the indebtedness on the Bonds (including all <br />principal, interest and premium, if any) at or before the final <br />maturity date of the Bonds <br /> <br />then, at the election of the Authority, and notwithstanding that the Bonds may not <br />have been surrendered for payment, the pledge of the moneys and funds provided for <br />in this Resolution and all other obligations of the Authority and the Company under <br />this Resolution with respect to the Bonds shall cease and terminate, except only <br />the obligation of the Authority to payor cause to be paid to the Owners of the <br />Bonds all sums due thereon. <br /> <br />Notwithstanding the foregoing, no deposit under clause (c) of the <br />immedi ate ly precedi ng paragraph shall be deemed a payment of such Bonds as <br />aforesaid until: (a) proper notice of redemption of such Bonds shall have been <br />previously given in accordance with Article III of this Resolution, or in the event <br />said Bonds are not by their terms subject to redemption within the next succeeding <br />sixty (60) days, until the Company shall have given the Servicing Agent on behalf <br />of Authority, in form satisfactory to the Servicing Agent, irrevocable instructions <br />to notify, as soon as practicable, the Owners of the Bonds, in accordance with <br />Article III hereof, that the deposit provided for by clause (c) above has been made <br />with Servicing Agent and that said Bonds are deemed to have been paid in accordance <br />with this Article and stating the Payment Date upon which moneys are to be <br />available for the payment of the principal of and the applicable redemption <br />premium, if any, on said Bonds, plus interest thereon to the said Payment Date; or <br />(b) the maturity of such Bonds. <br /> <br />All moneys so deposited with the Servicing Agent as provided in this Article <br />VII may at the direction of the Company also be invested and reinvested in Federal <br />Securities, maturing in the amounts and times as hereinbefore set forth, and all <br />income from all Federal Securities in the hands of the Servicing Agent pursuant to <br /> <br />17 <br />