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Trust Agreement. The Lease shall be entered into between Seafirst <br /> Bank as Trustee and the City. The Underwriter shall pay to the <br /> Trustee a sum equal to the contract purchase price of the Property, <br /> plus capitalized expenses of the transaction. The Trustee shall <br /> pay the contract purchase price to the Seller thus satisfying the <br /> City' s obligations under the contract and shall pay the capitalized <br /> expenses. The principal component of payments due under the Lease <br /> shall not exceed $ 11,325,000.00 . The Trustee will issue <br /> certificates of participation representing undivided interests in <br /> the Property and the Lease, to the Underwriter, or to the <br /> Underwriter' s designees. <br /> The interest rate at which the interest component of Lease <br /> payments under such Lease shall be computed, shall be determined <br /> as follows: the Underwriter shall submit a proposal to the City <br /> to acquire certificates of participation in the Lease and the <br /> Property, provided the Lease specifies a certain rate or rates of <br /> interest. Such proposal and the rate or rates of interest <br /> specified therein, shall be subject to approval by resolution of <br /> the City Council. <br /> All documents shall be executed and delivered, and all <br /> payments made, simultaneously through utilization of such escrow <br /> or escrows as the City Finance Director and the City attorney shall <br /> determine. <br /> Section 4 . Execution and Delivery of Documents. The proper <br /> officers of the City, including, but not limited to, the Mayor, <br /> City Clerk, Finance Director, Treasurer and City Attorney are <br /> hereby authorized and directed to do all things necessary or proper <br /> -4- FWW068 91/03/06 <br />