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El •o until the County and the Proprietor shall have received written notice of such transfer, including the name and address of the transferee. All such payments shall be valid and effectual to satisfy and discharge the liability upon the Bond to the extent of the sums so paid whether or not any transfer thereof shall be made, until the County and the Proprietor shall have received written notice of such transfer, including the name and address of the transferee. Within ten days after any disposition of the Bond held by it, the Bondholder agrees to give written notice of such dispo- sition to the County and the proprietor. Section 8. Notation of Payments. The Bondholder shall permit the County, at any time during regular business hours, to make at its office or the Depository's office an appropriate nota- tion or notations on the Bond of payments of principal thereon, if at least five days prior thereto the County shall have given writ- ten notice of its intention to do so and it shall not have received from the Bondholder a written confirmation that the requested nota- tion or notations shall have been made by the Bondholder. In the event that the Bond is to be transferred by the Bondholder as per- mitted in Section 7 hereof, the Bondholder shall, prior to such transfer, make or cause to be made notations thereon of all payments of principal with respect to which no prior notations have been made and of the date to which interest or premium, if any, thereon has been paid. Section 9. Project Fund. The proceeds of the sale of the Bond to the Bondholder shall be set aside in trust with BARNETT BANK OF SOUTH FLORIDA, N.A., as depository (the "Depository") for the account of the County in a special account designated the "Indian River County Industrial Development Revenue Bond, Series 1982 (Rampmaster Project) Project Fund". There is hereby created a security interest in the money and investments in the Project Fund held by the Depository for the benefit of the holder of the Bond, upon the terms and conditions provided herein, and this Bond Purchase Agreement shall be deemed a security agreement with respect to the security interest so created. The Depository shall be deemed to be (1) the secured party under Section 679.105(m) of the Uniform Commercial Code of Florida, as amended (the "UCC"), as representative of the holder, or (2) a bailee which under Section 679.305 of the UCC holds collateral for the benefit of the holder as secured parties, in either case with an obligation to use money in the Project fund solely as provided herein. Upon the occurrence of any Event of Default under the Loan Agreement, the Company Guaranty or the Personal Guaranty, the Bondholder shall have all the rights and remedies available ?� to a secured party under the UCC with respect to the money and investments held in this Project Fund. The Depository shall pay -10-