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<br />37 <br /> <br />(b) Valuation shall occur not less often than immediately prior to each Interest <br />Payment Date. <br /> <br />(c) Except for investment agreements and repurchase agreements, if at any time after <br />investment therein a Permitted Investment ceases to meet the criteria set forth in the definition of <br />Permitted Investments and such obligation, aggregated with other non-conforming investments, <br />exceeds ten percent (10%) of invested funds, such Permitted Investment shall be sold or <br />liquidated. <br /> <br />Section 10.10. Article and Section Headings, Gender and References. The headings <br />or titles of the several articles and sections hereof and the table of contents appended hereto <br />shall be solely for convenience of reference and shall not affect the meaning, construction or <br />effect hereof, and words of any gender shall be deemed and construed to include all genders. All <br />references herein to “Articles,” “Sections” and other subdivisions or clauses are to the <br />corresponding articles, sections, subdivisions or clauses hereof; and the words “hereby,” “herein,” <br />“hereof,” “hereto,” “herewith,” “hereunder” and other words of similar import refer to this Indenture <br />as a whole and not to any particular article, section, subdivision or clause hereof. <br /> <br />Section 10.11. Partial Invalidity. If any one or more of the agreements, conditions, <br />covenants or terms contained herein required to be observed or performed by or on the part of <br />the Authority or the Trustee shall be contrary to law, then such agreement or agreements, such <br />condition or conditions such covenant or covenants or such term or terms shall be null and void <br />and shall be deemed separable from the remaining agreements, conditions, covenants and terms <br />hereof and shall in no way affect the validity hereof or of the Bonds, and the Owners shall retain <br />all the benefit, protection and security afforded to them under any applicable provisions of law. <br /> <br />Section 10.12. California Law. This Indenture shall be construed and governed in <br />accordance with the laws of the State of California. <br /> <br />Section 10.13. Notices. All written notices to be given hereunder shall be given by <br />certified mail to the party entitled thereto at its address set forth below, or at such other address <br />as such party may provide to the other parties in writing from time to time. <br /> <br />If to the Authority: City of Redwood City Public Financing Authority <br /> 1017 Middlefield Road <br /> Redwood City, CA 94063 <br /> Attention: City Finance Director <br /> <br />If to the Trustee: U.S. Bank Trust Company, National Association <br /> One California Street, Suite 1000 <br /> San Francisco, California 94111 <br /> Attention: Global Corporate Trust Services <br /> <br />Section 10.14. Effective Date. This Indenture shall become effective upon its execution <br />and delivery. <br /> <br />Section 10.15. Execution in Counterparts. This Indenture may be executed in several <br />counterparts, each of which shall be deemed an original, and all of which shall constitute but one <br />and the same instrument. <br /> <br />8.A. - Page 157 of 255 <br />785