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redemption dates, and the redemption price for the Refunded Bonds payable on such redemption <br /> dates, all as set forth in the recitals of this Agreement. <br /> If, for any reason, at any time, the cash balances on deposit or scheduled to be on deposit <br /> in the Refunding Account shall be insufficient to transfer the amounts required by the Paying <br /> Agent to make the payments described in Section 3.2. hereof, the City shall timely deposit in the <br /> Refunding Account, from any funds lawfully available therefor, additional funds in the amounts <br /> required to make such payments. Notice of any such insufficiency shall be given promptly as <br /> hereinafter provided, but the Escrow Agent shall not in any manner be responsible for any <br /> insufficiency of funds in the Refunding Account or the City's failure to make additional deposits <br /> thereto. <br /> Section 3.4. Trust Fund. <br /> The Escrow Agent shall hold at all times the Refunding Account, the Escrowed Securities <br /> and all other assets of the Refunding Account, wholly segregated from all other funds and <br /> securities on deposit with the Escrow Agent; it shall never allow the Escrowed Securities or any <br /> other assets of the Refunding Account to be commingled with any other funds or securities of the <br /> Escrow Agent; and it shall hold and dispose of the assets of the Refunding Account only as set <br /> forth herein. The Escrowed Securities and other assets of the Refunding Account shall always be <br /> maintained by the Escrow Agent as trust funds for the benefit of the owners of the Refunded <br /> Bonds; and a special account thereof shall at all times be maintained on the books of the Escrow <br /> Agent. The owners of the Refunded Bonds shall be entitled to the same preferred claim and first <br /> lien upon the Escrowed Securities, the proceeds thereof, and all other assets of the Refunding <br /> Account to which they are entitled as owners of the Refunded Bonds. The amounts received by <br /> the Escrow Agent under this Agreement shall not be considered as a banking deposit by the City, <br /> and the Escrow Agent shall have no right to title with respect thereto except as a trustee and <br /> Escrow Agent under the terms of this Agreement. The amounts received by the Escrow Agent <br /> under this Agreement shall not be subject to warrants, drafts or checks drawn by the City or, <br /> except to the extent expressly herein provided, by the Paying Agent. <br /> Article 4. Limitation on Investments <br /> Section 4.1. Investments; Substitution of Securities. <br /> Except for the initial investment in the Escrowed Securities, and except as provided in <br /> this Section 4.1, the Escrow Agent shall not have any power or duty to invest or reinvest any <br /> money held hereunder, or to make substitutions of the Escrowed Securities, or to sell, transfer, or <br /> otherwise dispose of the Escrowed Securities. <br /> At the written request of the City, and upon compliance with the conditions hereinafter <br /> stated, the Escrow Agent shall utilize cash balances in the Refunding Account, or sell, transfer, <br /> otherwise dispose of or request the redemption of the Escrowed Securities and apply the <br /> proceeds therefrom to purchase Refunded Bonds or Government Obligations that do not permit <br /> the redemption thereof at the option of the obligor. Any such transaction may be effected by the <br /> Escrow Agent only it (a)the Escrow Agent shall have received a written opinion from a firm of <br /> A-4 DOT005 DOC 98/04/28 <br />