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CM <br />ARTICLE V <br />REVENUES AND FUNDS <br />Section 501. There is hereby created and ordered to be established <br />with the Trustee a trust fund of and in the name of the City to be designated <br />"Batesville, Arkansas, 1968 Industrial Development Bond Fund - Westport <br />Project" (herein sometimes referred to as the "Bond Fund") . <br />Section 502. There shall be deposited into the Bond Fund out <br />of the total sale proceeds the amount specified in Section 601 (a) hereof. <br />In addition, there shall be deposited in the Bond Fund as and when received: <br />(a) The amount remaining in the Construction Fund <br />(hereafter created) after all costs and expenses <br />of and in connection with the Project have been <br />paid; <br />(b) All basic rent payments specified in Section 203 <br />of the Lease Agreement; and <br />(c) All other moneys received by the Trustee under <br />and pursuant to any of the provisions of the Lease <br />Agreement directing such moneys to be paid into <br />the Bond Fund. <br />Furthermore, the City covenants and agrees that so long as any of the bonds <br />secured by this Indenture are outstanding, it will at all times deposit, or cause <br />to be deposited, in the Bond Fund sufficient moneys from revenues and income <br />derived from the Project (whether or not under and pursuant to the Lease Agree- <br />ment) to promptly meet and pay the principal of and interest on the bonds as <br />the same become due and payable, and to this end the City covenants and <br />agrees that, so long as any bonds secured by this Indenture are outstanding, <br />it will cause the Project to be continuously and efficiently operated as a <br />revenue and income proC.ucing underta}King, an., that should tCi c be a default <br />under the Lease A -co-cmert with t1he result that the rigl.t of possession of t_h <br />leased premises is returned to the City, tilc City ;"'ill fully coopora.to with <br />