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TABLE OF CONTENTS Page ARTICLE I: DETERMINATIONS; DEFINITIONS: Section 1.01 . Findings and Determinations ............................................................ .............. 3 Section 1.02 . Definitions ........................................................:................................ .............. 3 Section 1.03 . Rules of Construction ....................................................................... ............ 14 ARTICLE II: AUTHORIZATION AND TERMS: Section 2.01 . Authorization of Series 2010 Bonds .................................................. ............ 15 Section 2.02. Terms of Series 2010 Bonds ............................................................ ............ 15 Section 2.03. Redemption of Series 2010 Bonds ................................................... ............ 16 Section 2.04. Form of Series 2010 Bonds .............................................................. ............ 18 Section 2.05. Execution of Bonds ........................................................................... ............ 18 Section 2.06. Transfer of Bonds ............................................................................. ............ 18 Section 2.07. Exchange of Bonds ........................................................................... ............ 19 Section 2.08. Registration of Bonds ....................................................................... ............ 19 Section 2.09. Temporary Bonds ............................................................................. ............ 19 Section 2.10. Bonds Mutilated, Lost, Destroyed or Stolen ...................................... ............ 19 Section 2.11. Book-Entry System ........................................................................... ............ 20 Section 2.12. Applicability of Provisions to Additional Bonds .................................. ............ 21 ARTICLE III DEPOSIT AND APPLICATION; ADDITIONAL DEBT Section 3.01. Issuance of Bonds ............................................................................ ............ 22 Section 3.02. Application of Proceeds of Sale and Certain Other Amounts ............ ............ 22 Section 3.03. Costs of Issuance Fund .................................................................... ............ 22 Section 3.04. Low and Moderate Income Housing Fund ......................................... ............ 22 Section 3.05. Issuance of Parity Debt ..................................................................... ............ 22 Section 3.06. Issuance of Subordinate Debt ............................................................ ........... 23 Section 3.07. Validity of Bonds ................................................................................ ........... 23 ARTICLE IV: SECURITY OF BONDS; FLOW OF FUNDS: Section 4.01. Security of Bonds; Equal Security ...................................................... ........... 24 Section 4.02. Special Fund; Deposit of Housing Tax Revenues .............................. ........... 24 Section 4.03. Deposit of Amounts by Trustee .......................................................... ........... 25 ARTICLE V OTHER COVENANTS OF THE AGENCY Section 5.01. Punctual Payment .............................................................................. ........... 28 Section 5.02. Limitation on Additional Indebtedness; Against Encumbrances ......... ........... 28 Section 5.03. Extension of Payment ........................................................................ ........... 28 Section 5.04. Payment of Claims ............................................................................. ........... 28 Section 5.05. Books and Accounts; Financial Statements ....................................... ........... 28 Section 5.06. Protection of Security and Rights of Owners ...................................... ........... 29 Section 5.07. Payments of Taxes and Other Charges ............................................. ........... 29 Section 5.08. Taxation of Leased Property .............................................................. ........... 29 Section 5.09. Disposition of Property ....................................................................... ........... 29 Section 5.10. Maintenance of Tax Revenues .......................................................... ........... 29 Section 5.11. Compliance with the Law; Low and Moderate Income Housing Fund. .......... 30 Section 5.12. Plan Limit ........................................................................................... ........... 30 Section 5.13. Continuing Disclosure ........................................................................ ........... 30 Section 5.14. Further Assurances ........................................................................... ........... 30