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-27- ARTICLE IV SECURITY OF BONDS; FLOW OF FUNDS Section 4.01. Security of Bonds; Equal Security. Except as provided in Section 6.06, the Bonds and any Parity Debt shall be equally secured by a pledge of, security interest in and lien on all of the Tax Revenues, including all of the Tax Revenuesin the Redevelopment Obligation Retirement Fundand a first and exclusive pledge of, security interest in and lien upon all of the moneys in the Debt Service Fund, the Interest Account,the Principal Account, the Sinking Account and the Redemption Account,without preference or priority for series, issue, number, dated date, sale date, date of execution or date of delivery. The Bonds and all Parity Debt shall be additionally secured by a first and exclusive pledge of, security interest in and lien upon allof the moneys in the Reserve Account established by Section 4.03(d). The Bonds shall be also equally secured by the pledge and lien created with respect to the Bonds by Section 34177.5(g)of the Law on moneys deposited from time to time in the Redevelopment Property Tax Trust Fund. Except for the Tax Revenues and such moneys, no funds or properties of the Successor Agencyshall be pledged to, or otherwise liable for, the payment of principal of or interest on the Bonds. Notwithstanding the foregoing, thepayment of debt service on the Bonds shall be subordinate to the paymentof(i) amounts required to pay debt service on the 2008 Bonds or otherwisebe deposited in the Special Fund under the 2008 Indenture, but only to the extent such amounts are payable from property tax revenues derived from the Alameda County- City of San Leandro Project Area, (ii) amounts payable pursuant to the Pass-Through Agreements, but only to the extent such amounts are payable from the Plaza Project Area, (iii) amounts payable under the Fiscal Agreements[and the Development Agreement], but only to the extent such amounts are payable from property tax revenues derived from the Alameda County-City of San Leandro Project Area, and (iv) amounts payable to the County, or required to be spent within that portion of the Alameda County-City of San Leandro Project Area outside of the City limits pursuant to the Project Area Agreement, but only to the extent such amounts are payable, or required to be spent using monies,from property tax revenues derived from the Alameda County-City of San Leandro Project Area In consideration of the acceptance of the Bonds by those who shall hold the same from time to time, this Indenture shall be deemed to be and shall constitute a contract between the Successor Agencyand the Owners from time to time of the Bonds, and the covenants and agreements herein set forth to be performed on behalf of the Successor Agencyshall be for the equal and proportionate benefit, security and protection of all Owners of the Bonds without preference, priority or distinction as to security or otherwise of any of the Bonds over any of the others by reason of the number or date thereof or the time of sale, execution and delivery thereof, or otherwise for any cause whatsoever, except as expressly provided therein or herein. Section 4.02. Redevelopment Obligation RetirementFund; Deposit of Tax Revenues. The Successor Agencyhas heretofore established the Redevelopment Obligation Retirement Fund pursuant to Section 34170.5(a) of the Law which the Successor Agency shall continue to hold and maintain so long as any of the Bonds are Outstanding. The Successor Agency shall depositall of the Tax Revenues received with respect to any Semiannual Periodinto the Redevelopment Obligation RetirementFund promptly upon receipt thereof by the Successor Agency. All Tax Revenues received by the Successor Agency in excess of the amount required to pay debt service onthe Bonds andany Parity Debtand except as may be provided to the contrary in anyin this Indenture orParity Debt Instrument, shall be released from the pledge and lien hereunder and shall be applied in accordance with