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1 provided in Article II, provided that, at any time prior to giving such notice of such redemption, the Trustee may upon the Written Request of the Authority, apply moneys in such Sinking Account to the purchase of Term Bonds of such series and maturity at public or private sale, as and when and at such prices (including brokerage and other charges, but excluding accrued interest, which is payable from the Interest Account), as may be directed by the Authority, except that the purchase price (excluding accrued interest) shall not exceed the redemption price that would be payable for such Bonds upon redemption by application of such Mandatory Sinking Account Payment If, during the twelve-month period immediately preceding said mandatory sinking account payment date, the Trustee has purchased Term Bonds of such series and maturity with moneys in such Sinking Account, such Bonds so purchased shall be applied, to the extent of the full principal amount thereof, to reduce said mandatory sinking account payment All money in the Principal Account shall be used and withdrawn by the Trustee solely for the purpose of paying the principal of the Bonds as they shall become due and payable, whether at maturity or redemption, except that any money in any sinking fund account shall be used and withdrawn by the Trustee only to purchase or to redeem or to pay Term Bonds for which such sinking fund account was created (c) Surplus Account The Trustee, on or before February 1 of each year, beginning on February 1, 2018, shall deposit in the Surplus Account all money remaining in the Revenue Fund after the deposits required by Section 5 03 and subsections (a) and(b) of this section have been made On February 2 of each year, beginning on February 2, 2018, the Trustee, if the Authority is not then in default hereunder, shall disburse the money in the Surplus Account to the City unless the Trustee, in its discretion, shall determine that any money in the Surplus Account is or will be required for the payment of the principal of or interest on the Bonds on the next succeeding interest payment date (assuming for the purpose of such determination that the City shall pay when due all payments of 2017 Installment Sale Payments required by the Agreement), in which event such money shall be held in the Surplus Account for such purpose In making any such determination and disbursement hereunder the Trustee shall be entitled to conclusively rely on a Certificate of the Authority SECTION 4 04 Deposit and Investments of Money in Accounts and Funds Subject to Section 5 03, all money held by the Trustee in any of the accounts or funds established pursuant hereto shall be invested in Permitted Investments at the Written Request of the Authority All investments hereunder shall be valued by the Trustee not less frequently than annually at the market value thereof, exclusive of accrued interest Subject to Section 5 03, all interest or profits received pnor to the completion of the Project on any money invested in the funds held hereunder(excluding the Rebate Fund) shall be transferred to the City for deposit in the Acquisition and Construction Fund, and all interest or profits received subsequent thereto on any money so invested shall be deposited first in the Revenue Fund The Trustee and its li affiliates may act as principal, agent, sponsor or advisor with respect to any investments The Trustee shall not be liable for any losses on investments made in accordance with the terms and provisions of this Trust Agreement The Authority acknowledges that to the extent regulations of the Comptroller of the Currency or other applicable regulatory entity grant the Authority the right to receive brokerage confirmations of security transactions as they occur, the Authority will not receive such -18- 2762680 2