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so used by the association, such proceeds shall be paid to the Trustee to the extent needed to prepay any Certiticates in accordance with the terms of the A~reement. (C) REQUIRE~1ENTS FOR INSUR.ANCE COVERAGE. Each insurance policy required under Section 306(A) and (B) above shall: (1) be provided by a commerial insurance carrier whose claims paying ability is rated: (a) "A"' or higher by A.M. Best; or (b) in one of the two highest rating categories by Moody's and S&P; (2) name the Trustee as an insured and as the loss payee thereunder (to the extent of the County's interest under such insurance policy); and (3) shall provide that such inruance shall not be cancelled except upon 30 days' prior written notice to the Trustee, the Insurer and the County. >; ~a ~s 36 37 38 39 ao ~i ~13 On or before December 1 of each year, commencing with the December 1 next following the date upon which the construction of the Courthouse Square Project is completed, the County shall cause to be provided to the Trustee and the Insurer evidence that the insurance required under this Section 306 has been obtained and is in full force and effect. (D) TITLE INSURANCE. Concurrently with the execution and delivery of the 1998 Certificates, the County shall cause to be delivered a mortgagee's title insurance policy naming the Trustee, in its capacity as mortgagee under the Mortgage, as insured, which title insurance policy shall be in an amount at least equal to $22,000,000.00. The County shall undertake to provide a copy of such title insurance policy to the Insurer. ARTICLE IV ESTABLISHMENT AND USE OF FUNDS SECTION 401. ESTABLISHMENT OF FUNDS; DISPOSITION OF CERTIFICATE PROCEEDS. There are hereby established with the Trustee the following trust funds: (i) the Certificate Payment Fund, including as subaccounts thereof the 1998 Insurance Policy Account and the 1998 Debt Service Account; and (ii) the Project Fund. FINANCING AND TRUST AGREEMENT PAGE 3O