86-93 AUTHORIZING THE EXECUTION AND DELIVERY OF A FIRST SUPPLEMENTAL TRUST INDENTURE IN CONNECTION WITH THE OUTSTANDING SINGLE FAMILY MORTGAGE REVENUE BONDS, 1979 SERIES A

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GRANTING CLAUSE SECOND All moneys, instruments and securities from time to time held under and subject to the terms of the Indenture, including, without limitation, proceeds from the Bond Insurance Policy, and any and all other real or personal property of every name and nature from time to time hereafter by delivery or by writing of any kind conveyed, mortgaged, pledged, assigned or transferred as and for additional security hereunder by the Issuer , or by anyone in its behalf or with its written consent, to the Trustee, or to the Custodian acting on behalf of the Trus- tee, each of which is hereby authorized to receive any and all such property at any and all times and to hold and apply the same subject to the terms hereof. TO HAVE AND TO HOLD all and singular the Trust Estate, whether now owned or hereafter acquired, unto Trustee, its respective successors in trust and assigns forever, and to the Custodian as the duly appointed agent of the Trustee for certain purposes under the Indenture; IN TRUST NEVERTHELESS, upon the terms and trusts set forth in the Indenture for the equal and proportionate benefit and security of all present and future holders of the Bonds with- out preference of any Bond over any other , and for enforcement of the payment of the Bonds in accordance with their terms, and all other sums payable hereunder or on the Bonds and for the per- formance of and compliance with the obligations, covenants and conditions of the Indenture, all as herein set forth; PROVIDED, HOWEVER, that if Issuer, its successors or assigns shall well and truly pay, or cause to be paid, the prin- cipal of and interest on the Bonds due or to become due thereon, at the times and in the manner mentioned in the Bonds according to the true intent and meaning thereof, and shall cause the pay- ments to be made as required under ARTICLE VII of the Original Indenture, and shall well and truly keep, perform and observe all the covenants and conditions pursuant to the terms of the Inden- ture to be kept, performed and observed by it, then, upon such final payments, this First Supplemental Indenture and the rights hereby granted shall cease, determine and be void; otherwise this First Supplemental Indenture shall remain in full force and effect ; AND PROVIDED, FURTHER, Residuals on deposit in the Mortgage Reserve Fund and Capital Reserve Fund at the time of the issuance of the Bond Insurance Policy shall, upon the delivery of the Bond Insurance Policy, no longer be deemed part of the Trust Estate. -3-