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remedies, notwithstanding any law or statute existing or hereafter <br /> enacted to the contrary with respect to the replacement or payment <br /> of participations, negotiable instruments or investment or <br /> securities without their surrender. <br /> Section 3 . 09 . Cancellation and Destruction of Surrendered <br /> Certificates. Certificates surrendered for payment or prepayment, <br /> and the Certificates purchased from any money held by the Trustee <br /> hereunder or surrendered to the Trustee for cancellation, shall be <br /> canceled and destroyed by the Trustee no later than 365 days <br /> following payment therefor, provided that no petition in bankruptcy <br /> shall have been filed by or against the City and not dismissed. <br /> Section 3 . 10. Issue of Certificates. The Trustee shall <br /> issue, execute and deliver the Certificates following the execution <br /> of this Agreement and filing with the Trustee the following: <br /> (a) a certified copy of an ordinance(s) and <br /> resolution(s) of the City Council authorizing (1) the execution and <br /> delivery of the Lease, Ground Lease and the Assignment; (2) the <br /> execution and delivery of the Construction Contract; and (3) the <br /> execution and delivery of this Agreement; <br /> (b) an original executed counterpart of the Lease, the <br /> Ground Lease and this Agreement; <br /> (c) an original executed Assignment; and <br /> (d) an approving opinion of Certificate Counsel. <br /> Section 3 . 11. Security for Certificates. The Certificates <br /> represent undivided proportionate ownership interests in all right, <br /> title and interest of Lessor in the Ground Lease, the Improvements <br /> (subject to the terms of the Ground Lease and Lease) , the Lease and <br /> the Lease Payments to be made by the City under the Lease. The <br /> Certificates are not separately secured and are not obligations of <br /> the Underwriter, Trustee, or any other entity. <br /> ARTICLE IV <br /> LEASE PAYMENT FUND <br /> Section 4. 01. Lease Payment Fund. <br /> A. Establishment. The Trustee shall establish a <br /> special trust fund designated as the "Lease Payment Fund," shall <br /> keep such Lease Payment Fund separate and apart from all other <br /> accounts and moneys held by it, and shall administer such Lease <br /> Payment Fund as provided in this Section and Article VI hereof. <br /> -13- D0T437 91/09/24 <br />