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America (the "Obligations") that are described in detail'in Exhibit "A", <br />which is attached hereto and is made part hereof. <br />2. The Bank acknowledges to the County that the Obligations <br />referred to in Paragraph 1 are in the name of the County and shall be <br />subject to withdrawal and/or collection only by the Bank, for application <br />for proper purposes provided for in this Agreement. <br />3. The County represents to the Bank that the Obligations <br />referred to in Paragraph 1, together with the interest to be earned <br />thereon, will be sufficient for the following purposes at the following <br />times: <br />(a) Payment of the interest due on all the <br />outstanding Series of 1977 Bonds that are stated to <br />mature on and after September 1, 1988, in accordance <br />with terms thereof and of the Resolution, beginning on <br />September 1, 1988, to and including September 1, 1994; <br />and <br />(b) Payment on September 1 of each of the years <br />1988 to 1994, both inclusive, the principal of the <br />Series of 1977 Bonds that are stated to mature on <br />each such September 1. <br />4. The County and the Bank agree that money required to be <br />applied by the Bank, under provisions of Paragraph 3, with respect to the <br />retirement of the Series of 1977 Bcnds on certain dates shall be the <br />amounts set Forth in Exhibit "B", which is attached hereto and which <br />hereby is made a part hereof. <br />- 3 - <br />