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[A]I91 to deposit in the receipts of maturing principal Securities in the Escrow Account. �:,r Escrow Account, as received, the of and interest on the Federal there will be no investment of funds except as set forth in this Section 3 and except as set forth in Section S. Section 4. Rayment of De f easF!ft_ Bands and Eben es . (a) AefeasedBonds. on each interest payment date for the Defeased Bonds, the Escrow Folder shall pay to the paying Agent for the Defeased Bonds, solely from the cash on hand .in the Escrow Account, a sum sufficient to pay that portion of the Annual Debt Service for the Defeased Bonds coming due on such date, as shown on Schedule A. (b) E2MOI25es. on each of the due dates as shown on Schedule B, the Escrow Holder shall, solely from the cash on hand in the Escrow Account, pay the portion of the Expenses coming due on such date to the appropriate payee or payees designated on Schedule B and designated by separate certificate of the City. (c) Surplus. on each interest payment date for the Defeased Bonds, after making the payments from the Escrow Account described in Subsections 4(a) and (b), the Escrow Folder shall, at the written request of the County, pay to the County any remaining cash in the Escrow Account in excess of the Escrow Requirement as designated in such written request, to be used for any lawful purpose of the County. (d) prinrit-y of payments. The holders of the Defeased Bonds shall have an express first lien on the funds and Federal Securi- ties in the Escrow Account until such funds and Federal Securities are used and applied as provided in this Agreement. If the cash on hand in the Escrow Account is ever insufficient to make the payments required under Subsection 4(a), all of the payments required under Subsection 4(a) shall be made when due before any payments shall be made under Subsections 4(b) or 4(e). Section S. Reinvestment. (a) Except as provided in Section 3 hereof, and in this Section, the Escrow holder shall have no power or duty to invest any funds held under this Agreement or to sell, transfer or other- wise dispose of or make substitutions of the Federal Securities held hereunder. (b) At the written direction of the County and upon compliance with the conditions hereinafter stated, the Escrow Holder shall sell, transfer, otherwise dispose of or request the redemption of any of the Federal Securities acquired hereunder and shall either apply the proceeds thereof to the full discharge and 4