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60 <br /> fulfilled,in either case on or prior to the redemption date,then redemption will not be made and the Trustee <br /> must,within a reasonable time, give notice in a manner in which the redemption notice was given that the <br /> moneys were not so received(or condition was not fulfilled)and the redemption was not made. <br /> SECURITY AND SOURCES OF PAYMENT OF 2020 BONDS <br /> GENERAL <br /> The 2020 Bonds are payable from payments to be made by the County pursuant to the Trust <br /> Agreement and from certain other moneys, including certain Net Proceeds, if any, and certain amounts <br /> realized from any sale or lease of the Mortgaged Property, which payments and other moneys have been <br /> pledged to such payment as provided in the Trust Agreement. <br /> PAYMENT OF BONDS;LIMITED OBLIGATION;BUDGET AND APPROPRIATIONS <br /> The County shall cause to be paid,when due,the principal of(whether at maturity,by acceleration, <br /> or otherwise) and the premium, if any, and interest on the Bonds at the places, on the dates and in the <br /> manner described in the Trust Agreement. The County is obligated to pay Additional Payments in amounts <br /> sufficient to pay the fees and expenses of the Trustee,taxes or other expenses required to be paid pursuant <br /> to the Trust Agreement. Additional Payments are to be paid by the County directly to the person or entity <br /> to which such Additional Payments are owed. <br /> In the Trust Agreement,the County agrees to include in the initial proposal for each of the County's <br /> annual budgets for review and consideration by the Board of Commissioners for the County, in any Fiscal <br /> Year, items for all Bond Payments and the reasonably estimated Additional Payments coming due in such <br /> Fiscal Year. Notwithstanding that the initial proposed budget includes an appropriation for Bond Payments <br /> and Additional Payments,the Board of Commissioners may determine not to include such an appropriation <br /> in the final County budget for such Fiscal Year;further,the Board of Commissioners may amend an adopted <br /> budget to reduce or delete an approved appropriation. An Event of Nonappropriation constitutes an Event <br /> of Default under the Trust Agreement, which entitles the Trustee to exercise its remedies under the Trust <br /> Agreement, including its rights to foreclose on the Mortgaged Property under the Modified Deed of Trust. <br /> IN CONNECTION WITH THE BOND PAYMENTS AND THE ADDITIONAL PAYMENTS, THE <br /> APPROPRIATION OF FUNDS THEREFOR IS WITHIN THE SOLE DISCRETION OF THE BOARD OF COMMISSIONERS <br /> OF THE COUNTY. <br /> TRUST AGREEMENT <br /> Under the Trust Agreement,the County has granted to the Trustee for the benefit of the Owners of <br /> the Bonds a lien on and security interest in all moneys and securities from time to time held by the Trustee <br /> under the Trust Agreement. <br /> DEED OF TRUST <br /> General. In connection with the execution and delivery of the Prior Bonds, the County executed <br /> and delivered the Existing Deed of Trust,to provide security for its obligations under the Trust Agreement <br /> by granting a lien of record on the Mortgaged Property. In connection with the execution and delivery of <br /> the 2020 Bonds, the County will execute and deliver the Third Deed of Trust Supplement,to provide that <br /> the Modified Deed of Trust shall also secure the 2020 Bonds. The Modified Deed of Trust secures the Prior <br /> Bonds,the 2020 Bonds and any Additional Bonds issued under the Trust Agreement. <br /> 6 <br />