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Proceeds to the City shall be madepursuatit to an approved RODS within 30 clays of the connnoncotncttt or the relevant ROTES period, The Successor Agency shall be responsible far unstring that payments of future Excess Bond Procoods to the City, as such brads become available, arc included on the next possible, BOPS. 3,3 Projects, Funded By Excess Bond Proceeds, The Successor Agency assigns to the City all responsibilities in relation to the adtnudatrat.ion and implementation of any projects or profrrrun,s funded by Excess Bond Proceeds, The Successor Agency assigns to the City all contracts entered into by the Successor Agency past - dissolution or the former Agency pre - dissolution rebated to the expenditure of P=ss Bond Proceeds and anyr activitiesc to be funded by Excess Bond Proceeds, with the exception of those contracts relating to Enforceable Obligations, including the bond documents far the 2003A Bonds, which shall be retained by the Successor Agency, The traastbr of moneys held by the trustee for the 2003A Boo cis shall remain salaject to the terms of the indenture of trust prepared in connection with the Issuance of the 2003A Bonds (the "2003A Indenture ") to the extent the 2003A indenture remains in eff`vat. 4, CITY OBLIGATIONS ,1'hc City shall have the following obligations under this Agreement: 4.1 Excess Bond Proceeds. lit-, City shall accept, hold, ttisburse and administer Excess Bond Proceeds transfiered to the City by the Successor Agency under this Agreement, including current Excess Bond Proceeds and future :Excess Bond Proceeds. The City shall retain any Excess Band Proceeds that it receives, such as revenue generated from properties acquired or improved with Excr"as 'Bond Proceeds or payments on loans funded from Excess Bond Proceeds, without any obligation, to rc tarn such lirnds to the Succesaor Agency, an([ shall use such Rinds for uses consistent with appliaanble covenant; of the 2003ABonds. The City may spend Excess Bond Proceeds received or retained wider this Agreement on any proj cot, program, or activity authorized under the Bond Spending P1aan. Notwithstanding any thing to the contrary in this Agreemca, or the Bond Spending Plan, the City shall spend Excess Band Proceeds consistent with all covenants of the 2003A Bonds applicable to the particular Excess Bond Proceeds. The City shall be solely responsible for ensuring that Excess Bond Proceeds are maintained and spent in aocordance with all covenants of the 2003A Bonds and other applicable laws. The City may transfer hods between approved projects, progtarns and activities. The Trustee Amount remains subject to the terms of'the 2003A Indenture, to the extent the 2003A Indenture remains in effect. The City hereby assumes all contracts entered into or assumed by the Successor Agency post dissolution or enterer( into by the former Agency pre - dissolution related to the expenditure of _ ""11�cess73irrid Prou�zls° �ttc��aty�tcdvrtlz�to -he- tundrd- byi✓n�se i3usncl-Proveer3s; with- flue- exueptirm- of those contracts relating to Enforceable obligations, which shall be retained by the successor Agency. The City shall perform its obligations hereunder, and under such assumed contracts, in accordance with the applicable provisions of federal, state and local laws, including the obligation to comply with environmental lawns such as CBQA and/or NEPA, and shall timely complete the work required for each project eomanenced by the City pursuant to this Agreement and the Bond Spending Plan, 4.2 BONI) SPENDING PLAN, 'The City shall be solely responsible for maintaining, administering, and implementing the Bond Spending Plain, The City may attend the Bond Spending Resolution 2016 -002 Page 9 of 13