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(c) Any amount► if any, required for an expenditure authorized by this Indenture which is necessary to fully protect and realize the security of the bondholders; (d) The amount necessary to establish and maintain a reserve for contingencies in the maximum amount that will become due in any year with reference to the bonds issued hereunder for principal, interest and pay -_ng agent fee requirements; and (e) The amounts received by the Trustee under and pursuant to the provisions of Section 801 (b) (3) of the Batesville Rubber Company Lease; shall be transferred and paid by the Trustee out of the Bond Fund to the Trustee for the Independence County Amendment No. 49 Bond- holders for deposit in the 1°Independence County, Arkansas 1960 General Obligation Industrial Development Bond Fund" created by Section 6 of the order of the County Court of Independence County, Arkansas authorizing the issuance of Independence County Amendment No. 49 Bonds, the proceeds of which were also applied to the project. Such transfer shall be made semiannually on or before the 10th day of February and the 10th day of August of each year, and the Trustee shall require and keep on record a receipt from the Trustee for the Independence County Amendment No. 49 Bondholders of the amount so transferred. The agreement herein to transfer said funds shall not be construed as in any manner to impair the pledge of the revenues from the project to the revenue bonds authorized hereby and issued hereunder, which pledge shall constitute a first and prior lien on said revenues. When the entire principal of, interest on and paying agent's fees in connection with the Indepen- dence County General Obligation Industrial Development Bonds issued under said County Court Order, the proceeds of which have been applied to the construction of the project, have been paid or provision made for such payment, said transfers shall cease. Thereafter all surplus lease rentals and all moneys referred to in (e) above, which for purposes of redemption shall be considered