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Payment Fund together with the interest [o accrue thereon, be fully sufficient to pay and <br />discharge all Bonds (including all principal and interest) a[ or before their respective maturity <br />dates; <br />(d) by depositing with the Tmstee, under an escrow deposit and tmst <br />agreement, security for the payment of Lease Payments as more particularly described in <br />Section 406 of the Lease Agreement, said security to be held by the Trustee, as agent for the <br />City and to be applied by the Trustee to Lease Payments representing the obligation of the <br />City under the Lease Agreement, as described in Section 406 of the Lease Agreement. <br />Notwithstanding that some Bonds may not have been surrendered for <br />payment, all obligations of the Authority, the Trustee and the City under the Trust Agreement <br />with respect to all Outstanding Bonds shall cease and terminate, except only the obligation of <br />the Trustee to pay or cause to be paid to the Owners of the Bonds all sums due thereon and <br />the obligation of the applicable City to indemnify and pay the Tmstee in accordance with <br />Section 402 hereof. <br />Any funds held by the Tmstee, at the time of one of the events described <br />above in subsections (a), (b), (c) or (d), which are not required for the payment to be made to <br />Owners, or for payments to be made to [he Tmstee by the Authority, shall be paid over to the <br />Authority pursuant to written instruction from an Authorized Officer of the Authority and <br />delivery of a Bond of a certified public accountant that such funds aze not required to be paid <br />to the Owners. <br />Section 703. Tmstee to Keep Records. <br />The Trustee shall keep books and records of all moneys received and disbursed <br />under the Tmst Agreement, which shall be available for inspection by the City and the <br />Authority during regular business hours upon 48 hours written notice to the Tmstee. <br />Section 704. California Law. <br />The Tmst Agreement shall be constmed and governed in accordance with the <br />laws of the State Of California. <br />Section 705. Severability. <br />Any provision hereof found to be prohibited by law shall be ineffective only to <br />the extent of such prohibition, and shall not invalidate the remainder hereof. <br />Section 706. Binding on Successors. <br />The Tmst Agreement shall be binding upon and inure to the benefit of the <br />parties and their respective successors and assigns. <br />941Ki90I M.IAI <br />35 <br />