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~;,~ The 1998 Certificates will be executed and delivered in fully registered form without coupons and will initially be subject to the Book Entry System of registration and transfer. Principal and interest components of the 1998 Financing Paymenu evidenced by the 199~ Certificates will be payable by the Trustee to The Depository Trust Company which, in turn, will remit such principal and interest components to The Depository Trust Company Participants for subsequent disbursement to the Beneficial Owners of the 1998 Certificates. T'he 1998 Certificates will be executed and delivered in denominations of $5,000 each or any integral multiple thereof. The 1998 Certificates will be executed and delivered by the Trustee pursuant to the Agreement. "The Trustee is not liable for payment of any 1998 Financing Payments evidenced by the 1998 Certificates. Rather, the Trustee's obligation with respect thereto is to remit to the Owners of the 1998 Certificates, in accordance with the terms and provisions of the Agreement, any 1998 Financing Payments received by the Trustee from or for the account of the Counry. The Security In the Agreement and subject to certain conditions set forth therein, the County has reserved the right to issue Additional Certificates from time to time. As used herein, "Certificates" means the 1998 Certificates and any Additional Certificates that may subsequently be issued under the Agreement. In the Agreement, the County pledges, grants, assigns and conveys unto the Trustee (in trust for the equal and ratable benefit of the Owners of the 1998 Certificates and any Additional Certificates that may subsequently be issued under the Agreement) all of its right, title and interest to and in the following (all of the following together with the rights of the Trustee under the Mortgage is referred to as the "Security"): (i) All Financing Payments paid by the County to the Trustee under the Agreement; ~r (ii) All moneys and investments in the Certificate Payment Fund, the Project Fund and any other fund established and held by the Trustee under any Supplemental Agreement, including any investments made therefrom and investment income derived therefrom; provided that the Security shall not include: (a) any fund established and held by the Trustee under any Supplemental Agreement if the Supplemental Agreement establishing such fund expressly provides that such fund shall not be a part of the Security or subject to the pledge ot'this Agreement; and (b) any moneys held by the Trustee for the payment of the Rebate Amount; (iii) Each Credit Facility and all amounts drawn or paid thereunder; and (iv) All of the proceeds of the foregoing, including without limitation investment income derived therefrom. In addition, concurrently with the execution and delivery of the Certificates, the County has agreed to execute and deliver to the Trustee the Mortgage. All Certificates executed and delivered under the Agreement or any Supplemental Agreement are equally and ratably secured by the pledge of and lien on the Securiry made by the County pursuant to the Agreement, all without any kind of preference or priority of one Certificate over any other Certificate regardless of when executed and delivered. Except as may otherwise be expressly provided in a Supplemental Agreement, all of the covenants and other provisions relating to the Outstanding Certificates set forth herein or in any Supplemental Agreement shall be for the equal benefit, protection and security of the Owners of all Certificates. ~ Notwithstanding the foregoing, except as otherwise expressly provided in a Supplemental Agreement: (1) the Insurance Policy and all moneys received by the Trustee thereunder shall be held and applied by the Trustee solely for the benefit of the Owners of the 1998 Certificates; and (2) any Credit Faciliry given as security for any series of Additional Certificates and any moneys drawn or paid ~r-der such Credit Facility shall secure only that series of Additional Certificates for which such Credit Facility was grven as security.