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2 <br />Section 1. Establishment of the 2004BondsEscrow Fund. The 2004Trusteeshall <br />establish and hold, separate and apart from all other funds and accounts held by it,a special <br />fundknown as the “2004BondsEscrow Fund”(the “Escrow Fund”). All amounts on deposit in <br />the Escrow Fundare hereby irrevocably pledged as a special trust fund for the redemption of all <br />of the outstanding 2004Bondson ____________ __, 2014. Neither the 2004Trustee, the 2014 <br />Trustee nor any other person shall have alien upon or right of set off against the amountsat <br />any time on deposit in the Escrow Fund, and such amounts shall be applied only as provided <br />herein. <br />Section 2. Deposit into the 2004BondsEscrow Fund; Investment of Amounts. <br />Concurrently with delivery of the 2014 Bonds, the Successor Agency shall cause to be <br />deposited in the Escrow Fundthe amount of $_____________in immediately available funds to <br />be derived from a portion of the proceeds of sale ofthe 2014 Bonds. The Successor Agency <br />shall also transfer to the Trustee for deposit in the Escrow Fund $__________of funds on hand <br />relating to the 2004Bonds, and hereby directs the 2004Trustee to transfer for deposit into the <br />Escrow Fund (i) $__________ on deposit in the Reserve Account established pursuant to the <br />2004Indenture and (ii) $__________ on deposit in the Debt Service Fund established pursuant <br />to the 2004Indentureinto the Escrow Fund, resulting in a total deposit into the Escrow Fund of <br />$__________. The Successor Agency hereby directs the 2004Trusteeto hold all of the <br />amounts on deposit in the Escrow Funduninvested. <br />The Successor Agency signifies that by making the deposit described herein, it is <br />discharging the 2004Bonds pursuant to Sections 9.03of the 2004Indenture. <br />Section 3. Proceedings for Redemption of 2004Bonds. The Successor Agency <br />hereby irrevocably elects, and directs the 2004Trustee, to redeem, on ________ __, 2014, from <br />amounts on deposit in the Escrow Fund, the outstanding 2004Bondspursuant to the provisions <br />of Section 2.03(a) of the 2004Indenture. The 2004Trusteeacknowledges that it has heretofore <br />givennotice of such redemption in accordance with Section 2.03(d)of the 2004Indenturein <br />order to allow for the redemption of the 2004Bondson ________ __, 2014. <br />Section 4. Application of Funds to Redeem 2004Bonds. The 2004Trusteeshall <br />apply the amountson deposit in the Escrow Fundto redeem the outstanding 2004Bondson <br />___________ __, 2014at a price equal to 100% of the principal amount thereof plus accrued <br />and unpaid interest, all in accordance with Section 2.03(a) of the 2004Indenture. <br />Section 5. Transfer of Remaining Funds. On ___________ __, 2014, following the <br />payment and redemption described above and payment of any amounts then owed to the 2004 <br />Trustee, the 2004Trusteeshall withdraw any amounts remaining on deposit in the Escrow Fund <br />and transfer such amounts to the 2014 Trustee for deposit into the Interest Account established <br />under the Indenture to be usedsolely for the purpose of payinginterest on the 2014 Bonds. <br />Section 6. Amendment. These Instructions shall be irrevocable by the Successor <br />Agency. These Instructions may be amended or supplemented by the Successor Agency, but <br />only if the Successor Agencyshall file with the 2004Trusteeand the 2014 Trustee(a) an <br />opinion of nationally recognized bond counsel engaged by the Successor Agencystating that <br />such amendment or supplement will not, of itself, adversely affect the exclusion from gross <br />income of interest onthe 2004Bondsor the 2014 Bondsunder federal income tax law, and (b)