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CUSTODY AND APPLICATION OF PROCEEDS <br /> OF BOND: ACQUISITION AND CONSTRUCTION FUND <br /> Section 5. There is hereby created and established <br /> with the Assignee, which is hereby constituted and appointed as <br /> depository for the Issuer, a special fund in the name of the <br /> Issuer to be designated "City of Decatur, Illinois Acquisition <br /> and Construction Fund (Pershing Development Company Project) " . <br /> The proceeds other than accrued interest, if any, received by the <br /> Issuer upon the sale of the Bonds shall be deposited in the <br /> Acquisition and Construction Fund which shall be held in a <br /> separate account by Assignee as depository. Moneys in the <br /> Acquisition and Construction Fund shall be expended in accordance <br /> with the provisions of the Loan Agreement, and particularly <br /> Section 3. 6 thereof. <br /> The Assignee, as depository, shall keep and maintain <br /> adequate records pertaining to the Acquisition and Construction <br /> Fund and all disbursements therefrom, and after the Project has <br /> been completed and a certificate of payment of all costs filed as <br /> provided in this Section, the Assignee shall deliver copies of <br /> such records to the Issuer, the Purchaser, other registered <br /> owners of the Bonds and the Borrower. <br /> The completion of the Project and payment of all costs <br /> and expenses incident thereto shall be evidenced by the filing <br /> with the Issuer, the Assignee and the Purchaser of a certificate <br /> of the Authorized Borrower Representative required by Section 3 . 7 <br /> of the Loan Agreement. Any moneys thereafter remaining in the <br /> Acquisition and Construction Fund shall be applied in accordance <br /> with Section 3. 6 of the Loan Agreement. <br /> -22- <br />