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D. There is hereby established the Series 1932A Construction Fund (hereinafter called Construction Fund"), into which shall be paid the balance of the money remaining after making c,'11 the deposits and payments provided for in paragraphs A, B and C above. The Construction Fund shall be kept separate and apart from all other funds and accounts of the Issuer, and the money on deposit therein shall be withdrawn, used and applied by the Issuer solely to the payment of the cost of the Project and pur- poses incidental thereto, as hereinabove described and set forth. If for any reason such proceeds or any part thereof are not necessary for or are not applied to the payment of such cost, then the unapplied proceeds shall be deposited by the Issuer into the Sinking Fund. All such proceeds shall be and constitute trust funds for such purposes, and there is hereby created a lien upon such money until so applied in favor of the holders of the Bonds. Any funds on deposit in the Construction Fund which, in the opinion of the Issuer, are not immediately necessary for expenditure, as hereinabove provided, may be invested in Authorized Investments maturing not later than the date on which such funds will be needed for payment of the costs of the Project. All income derived therefrom shall be deposited in the Construction Fund prior to completion of the Project, and thereafter shall be deposited in the Sinking Fund. ARTICLE IV MISCELLANEOUS PROVISIONS 4.01 Modification or Amendment. No material modifica- tion or amendment of this Instrument may be made without the con- sent in writing of the holders of two-thirds or more in principal amount of the Bonds then outstanding; provided, however, that no modification or amendment shall permit a change in the maturity of such Bonds or a reduction in the rate of interest thereon, or in the amount of the principal obligation, or affect the uncon- ditional promise of the Issuer to charge and collect such rates, fees, rentals and charges for the use of the product, services and facilities of the System and apply the same as herein provided, or reduce the number of such Bonds the written consent of the holders of which are required by this Section for such modification or amendment, without the consent of the holders of all such Bonds. 4.02 Creation of Superior_ Liens. The Issuer covenants that it will not issue any other Bonds, certificates or obliga- -14-