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Article 5. Application of Cash Balances <br />Section 5.1. In General. <br />Except as provided in Section 2.1 and 3.2 and 4.2 hereof, no withdrawals, transfers or <br />reinvestment shall be made of cash balances in the Refunding Account. <br />Article 6. Redemption of Refunded Bonds <br />Section 6.1. Call for Redemption. <br />The County hereby irrevocably calls the Refunded Bonds for redemption on the Call <br />Date, as shown on Appendix A attached hereto. <br />Section 6.2. Notice of Redemption/Notice of Defeasance. <br />The Escrow Agent agrees to give a notice of defeasance and a notice of the redemption of <br />the Refunded Bonds pursuant to the terms of the Refunded Bonds and in substantially the forms <br />attached hereto as Appendix A attached hereto and as described on said Appendix A to the <br />Paying Agent for distribution as described therein. The notice of defeasance shall be given <br />immediately following the execution of this Agreement, and the notice of redemption shall be <br />given in accordance with the resolution authorizing the Refunded Bonds. The Escrow Agent <br />hereby certifies that provision satisfactory and acceptable to the Escrow Agent has been made for <br />the giving of notice of redemption of the Refunded Bonds. <br />Article 7. Records and Reports <br />Section 7.1. Records. <br />The Escrow Agent will keep books of record and account in which complete and accurate <br />entries shall be made of all transactions relating to the receipts, disbursements, allocations and <br />application of the money and Escrowed Securities deposited to the Refunding Account and all <br />proceeds thereof, and such books shall be available for inspection during business hours and <br />after reasonable notice. <br />Section 7.2. Reports. <br />While this Agreement remains in effect, the Escrow Agent annually shall prepare and <br />send to the County a written report summarizing all transactions relating to the Refunding <br />Account during the preceding year, including, without limitation, credits to the Refunding <br />Account as a result of interest payments on or maturities of the Escrowed Securities and transfers <br />from the Refunding Account for payments on the Refunded Bonds or otherwise, together with a <br />detailed statement of all Escrowed Securities and the cash balance on deposit in the Refunding <br />Account as of the end of such period. <br />A-5 502686980 v1 <br />