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NOW, THEREFORE, in consideration of the mutual undertakings, promises and <br /> agreements herein contained, the sufficiency of which hereby are acknowledged, and to secure <br /> the full and timely payment of principal of and the interest on the Refunded Bonds, the City, the <br /> District and the Refunding Trustee mutually undertake, promise and agree for themselves and <br /> their respective representatives and successors, as follows: <br /> Article 1. Definitions <br /> Section 1.1. Definitions. <br /> Unless the context clearly indicates otherwise, the following terms shall have the <br /> meanings assigned to them below when they are used in this Agreement: <br /> Escrow Fund means the fund created by this Agreement to be established, held and <br /> administered by the Refunding Trustee pursuant to the provisions of this Agreement. <br /> Escrowed Securities mean the noncallable Government Obligations described in <br /> Exhibit D attached to this Agreement. <br /> Government Obligations mean direct, noncallable (a) United States Treasury <br /> Obligations, (b) United States Treasury Obligations - State and Local Government Series, <br /> (c) non-prepayable obligations which are unconditionally guaranteed as to full and timely <br /> payment of principal and interest by the United States of America or (d) REFCORP debt <br /> obligations unconditionally guaranteed by the United States. <br /> Paying Agent means the fiscal agent of the State of Washington, as the paying agent for <br /> the Refunded Bonds. <br /> Section 1.2. Other Definitions. <br /> The terms "Agreement," "City," "Refunding Trustee," "District," "Bond Ordinance," <br /> "Refunded Bonds," and "Bonds" when they are used in this Agreement, shall have the meanings <br /> assigned to them in the preamble to this Agreement. <br /> Section 1.3. Interpretations. <br /> The titles and headings of the articles and sections of this Agreement have been inserted <br /> for convenience and reference only and are not to be considered a part hereof and shall not in any <br /> way modify or restrict the terms hereof. This Agreement and all of the terms and provisions <br /> hereof shall be liberally construed to effectuate the purposes set forth herein and to achieve the <br /> intended purpose of providing for the refunding of the Refunded Bonds in accordance with <br /> applicable law. <br /> A-2 P\20287 CMVV\20287 AMT 10/14/14 <br />