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(f) "Escrow Requirement" means, as of any date of calculation, the sum of an amount in cash and principal amount of Federal Securities in the Escrow Account which together with the interest to become due on the Federal Securities will be sufficient to pay the Total Debt Service on the Defeased Bonds in accordance with Schedule A. (g) "Federal Securities" means any bonds or other obligations which as to principal and interest constitute direct obligations of, or are unconditionally guaranteed by, the United States of America, none of which permit redemption at the option of the United States of America prior to the dates on which such Federal Securities shall be applied pursuant to this Agreement. The term "Federal Securities" shall not include money market funds invested in obligations described in this definition. (h) "Issuer" means Indian River County, Florida, and its successors and assigns. (i) "Bond Resolution" means Resolution No. 85-75 adopted on July 10, 1985, as amended, supplemented and restated by Resolution No. 85-125, adopted on October 23, 1985, as amended and supplemented (collectively, the "1985 Bond Resolution") and Resolution No. 92-216 adopted on November 24, 1992 (the "1992 Bond Resolution," together with the 1985 Bond Resolution, the "Bond Resolution"). (j) "Defeasance Resolution" means Resolution No. 2000-086, adopted August 15, 2000, authorizing defeasance of the Defeased Bonds. (k) "Defeased Bonds" means the Indian River County, Florida Refunding Revenue Bonds, Series 1992 to be defeased as identified on Schedule A attached hereto. (1) "Total Debt Service" means the sum of the principal, premium and interest remaining unpaid with respect to the Defeased Bonds in accordance with Schedule A attached hereto. SECTION 2. DEPOSIT OF FUNDS. The Issuer hereby deposits $3,529,365.93 with the Escrow Holder for deposit into the Escrow Account, in immediately available funds, which funds the Escrow Holder acknowledges receipt of, to be held in irrevocable escrow by the Escrow Holder separate and apart from other funds of the Escrow Holder and applied solely as provided in this Agreement. The Issuer represents that such funds are at least equal to the Escrow Requirement as of the date of such deposit. SECTION 3. USE AND INVESTMENT OF FUNDS. The Escrow Holder acknowledges receipt of the sum described in Section 2 and agrees: (a) to hold the funds and investments purchased pursuant to this Agreement in irrevocable escrow during the term of this Agreement for the sole benefit of the holders of the Defeased Bonds; 2