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by the City pursuant to Section 1.2 hereof In the event of a deficiency in the funds and <br />amounts in the Escrow Fund for purposes of making Rental Payments and payments and <br />prepayments with respect to the Prior Obligations, the City shall not be responsible for any <br />further deposit with the Escrow Agent. <br /> <br />VII. Termination. <br /> <br /> These Instructions shall, except as set forth in Section V hereof, terminate and <br />be of no further force and effect when aJl transfers requi~'d to be made by the Escrow Agent <br />under the provisions hereof shall have been made, and all payments necessary to make Rental <br />Payments and payments and prepayments with respect to the Prior Obligations shall have been <br />eftcured. <br /> <br /> From and after 1, , or such later date on which the final <br />payment with respect to the Prior Obligations representing an interest in the Rental Payments <br />to be made by the City is made by the Escrow Agent, any remaining moneys on deposit in the <br />Escrow Fund established and held pursuant to these Instructions, except for amounts held to <br />pay the registered owners of Prior Obligations, a_qcr the payment of all amounts owed to the <br />Escrow Agent under Section V hereof, shall be remitted by the Escrow Agent to the City <br />without further claim therefor. <br /> <br />VIII. !nvalidity; Applicable Law. <br /> <br /> If any one or more of the provisions of these Instructions should be determined <br />by a court of competent jurisdiction to be contrary to law, such provisions shall be deemed <br />and eons'trued to be severable from the remaining provisions herein contained and shall in no <br />wayeffectthevalidityoftheremainingpwvisionsoftheseinstmctions. TheseInstructions <br />shall be construed and gnvemed in accordance with, the laws of the State of Califomi~ <br /> <br />IX. Binding Effect; Successors. <br /> <br /> These instructions shall be binding upon and shall inure to the benefit of the <br />parftes hereto and the owners of the Prior Obligations and their respective successors and <br />assigns. The owners of the Bonds shall have no lien whatsoever on moneys representing <br />principal of or interest on the investments held by the Escrow Agem in accordance with these <br />Instructions. Whenever in these Inactions any party is nm'ned or referred to, such reference <br />shall be deemed to include such paay's successers or assigns, and all instructions contained in <br />these Instructions to, by or on behalf of any patty hereto shall bind and inure to the banefit of <br />such pafty's successors and assigns whether so expressed or not. <br /> <br />X. Counterparts. <br /> <br /> These instructions may be executed, appreved and acknowledged in several <br />counterparts, all or any one of which shall be regarded for all purposes as one original and <br />shall constitute and be but one and the same instrument. <br /> <br />4- <br /> <br /> <br />