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to the extent permitted by law. The Trustee will furnish the Authority periodic cash transaction statements which shall include detail for all investment transactions made by the '1'rustee hereunder. The Trustee may make any investments hereunder through its own bond or investment department or trust investment department, or those of its parent or any affiliate. (b) Except as provided in Section 3.06 (relating to the valuation of the Reserve Fund), valuation shall occur not less often than immediately prior to each Interest Payment Date, and upon any draw on the Reserve Fund. (c) Except for investment agreements and repurchase agreements, if at any time after investment therein a Permitted Investment ceases to meet the criteria set forth in the definition of Permitted Investments and such obligation, aggregated with other non-conforming investments, exceeds ten percent (10%) of invested funds, such Permitted Investment shall be sold or liquidated. Section 10.10. Article and Section Headi�s, Gender and References. The headings or titles of the several articles and sections hereof�and the table of contents appended.hereto shall be solely for convenience of reference and shall not affect the meaning, construction or effect hereof, and words of any gender shall be deemed and construed to include all genders. All references herein to "Articles," "Sections" and other subdivisions or clauses are to the corresponding articles, sections, subdivisions or clauses hereof; and the words "hereby," "herein," "hereof," "hereto," "herewith," "hereunder" and.other words of similar import refer to this Indenture as a whole and not to any particulaz article, section, subdivision or clause hereof. Section 10.11. Partial Invaliditv. If any one or more of the agreements, conditions, . covenants or terms contained herein required to be observed or performed by or on the part of the Authority or the Trustee shall be contrary to law, then such agreement or agreements, such condition or conditions such covenant or covenants or such term or terms shall be null and void and shall be deemed separable from the remaining agreements, conditions, covenants and terms hereof and shall in no way affect the validity hereof or of the Bonds, and the Owners shall retain all the benefit,protection and security afforded to them under any applicable provisions of law. Section 10.12. California Law: This Indenture shall be construed and governed in accordance with the laws of the State of California. � Section 10.13. Notices. All written notices to be given hereunder shall be given by certified mail to the party entitled thereto at its address set forth below, or at such other address as such party may provide to the other pat�ties in writing from time to time. If to the Authority: City of Redwood City Public Financing Authority 1017 Middlefield Road Redwood City, CA 94063 Attention: City Finance Director . -46- 338471 1.DOC