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1 to the County free and clear of any escrow arranbement, trust, lien. security interest, pled~e or <br />2 assignment securinb said Variable Rate Certificate. <br />3 <br />~ Upon satisfaction of the foregoing conditions: <br />5 <br />6 (A) such Certificate shall be deemed to have been paid in fiill and shall no longer be <br />7 Outstanding under this Agreement for any purpose other than the subsequent transfer and <br />8 eachan;~e as provided herein and the payment when due of the principal of and interest on <br />9 such Certificate out of the cash or Government Obligations so deposited; and <br />io <br />1~ (B) slich Certificate shall thereafter be secured solely and only by the cash or <br />1? Government Obligations so deposited and shall no longer be secured by the Security. <br />I~ <br />l4 It is the intent of this Section 210 that the County shall have the right to effect a complete <br />15 defeasance of all Outstanding Certificates, or a partial defeasance of only some of the Outstanding <br />16 Certificates. In the case of any such partial defeasance, the County shall have the right to select the <br />~ 7 Certificates bearing particutar stated principal due dates to.be so defeased and (if applicable) prepaid <br />~ 8 and the ag~,negate principal vnount of each such stated due date to be so defeased and (if applicable) <br />l9 prepaid. <br />?o <br />~~ <br />~~ ARTICLE III <br />?~ REPRESENTATIONS AND <br />~a COVENANTS OF THE COUNTY <br />~; <br />36 SECTION 301. GENERAL LIMITATION. All representations and covenants of the County <br />?7 herein, in the Agreement and in any proceeding, document or certification.incidental to issuance of <br />28 the Certificates shall not create a pecuniary liability of the County, except to the extent of the <br />29 Security and any Appropriated Financing Payments and as to any obligation for specific <br />3o performance. <br />31 <br />32 SECTION 302. PERFORMANCE OF COVENANTS. The County shall promptly perform and <br />33 observe all other covenants, undertakings and obligations set forth in this Agreement and the <br />34 Certificates. <br />3~ <br />36 SECTION 303. PROJECT BOOKS. All books and documents in the possession of the County <br />37 relating to the Cotmty Facilities, the Security and the Appropriated Financinb Payments (including <br />3g the County budget documents pursuant to which such Financing Payments were appropriated) shall <br />39 at all reasonable times be open to inspection by the Trustee, each Credit Provider, the Underwriter <br />4o and their attorneys and agents. <br />41 <br />FINANCING AND TRUST AGREEMENT PAGE 27 <br />