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holders of the Bonds until the moneys thereof shall have been <br />.r <br />applied in accordance with this Instrument. <br />3.04 Covenants of the Issuer. So long as any of the <br />principal of or interest on any of the Bonds shall be outstanding <br />and unpaid, or until there shall have been set apart in the Sinking <br />Fund, including the Reserve Account therein, a sum sufficient to <br />pay, when due, the entire principal of the Bonds remaining unpaid, <br />together with interest accrued and to accrue thereon, the Issuer <br />covenants with the holders of any and all of the Bonds as follows: <br />(A) Application of Provisions of Original Instrument. <br />The Bonds shall for all purposes (except as herein expressly <br />changed) be considered to be additional parity obligations issued <br />under the authority of Section 3,04(H) of the Original Instrument <br />and shall be entitled to all the protection and security provided <br />therein for the parity obligations, as respectively issued, and <br />shall be in all respects entitled to the same security, rights and <br />privileges enjoyed by the Parity Obligations. The covenants and <br />pledges contained in Section 3.04 of the Original Instrument shall <br />be applicable to the Bonds in like manner as applicable to the <br />Parity Obligations. The principal of, interest on and redemption <br />premiums on the Bonds shall•be payable from the Sinking Fund <br />established by the Original Instrument on a parity with the Parity <br />Obligations, and payments shall be made into such Sinking Fund by <br />the Issuer in amounts fully sufficient to pay the principal of and <br />interest on the Parity Obligations and on the Bonds as such prin- <br />cipal and interest become due. .The Reserve Account established by <br />the Original Instrument shall be applicable pro rata to the Bonds <br />in the same manner as applicable to the Parity Obligations. <br />(B) Increased Deposits to Reserve Account. The monthly <br />deposits to the Reserve Account pursuant to the provisions of <br />Section 3.04(C)(3) of the Original Instrument shall be in the <br />amount of Three Hundred Twenty Dollars ($320), until such time as <br />the funds and investments in the Reserve Account shall equal <br />Thirty-eight Thousand Four Hundred Dollars ($38,400), and monthly <br />thereafter such amount as shall be necessary to maintain in the <br />-16- <br />