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(a) Owner's right, title and interest into the payments of unreimbursed Actual Costs, <br />as described herein, shall be the sole and exclusive property of Owner (or its Transferee) and no <br />other third party shall have any claim or right to such funds unless Owner transfers its rights to its <br />unreimbursed Actual Costs to a Transferee in writing and otherwise in accordance with the <br />requirements set forth herein. Subject to the terms of Section 8.03 hereof, Owner has the right to <br />convey, transfer, assign, mortgage, pledge, or otherwise encumber, in whole or in part, all or any <br />portion of Owner's right, title, or interest under this Agreement including, but not limited to, any <br />right, title or interest of Owner in and to payment of its unreimbursed Actual Costs (a "Transfer," <br />and the person or entity to whom the transfer is made, a "Transferee "). Notwithstanding the <br />foregoing, no Transfer shall be effective until written notice of the Transfer, including the name <br />and address of the Transferee, is provided to the City. The City may rely conclusively on any <br />written notice of a Transfer provided by Owner without any obligation to investigate or confirm <br />the Transfer. <br />Section 2.06. Obligations Secured by Pledged Revenues <br />THE PID BONDS ARE SPECIAL OBLIGATIONS OF THE CITY SECURED <br />SOLELY BY PLEDGED REVENUES (AS DEFINED IN THE INDENTURE) AND ANY <br />OTHER FUNDS HELD UNDER THE INDENTURE, AS AND TO THE EXTENT <br />PROVIDED IN THE INDENTURE. THE PID BONDS DO NOT GIVE RISE TO A <br />CHARGE AGAINST THE GENERAL CREDIT OR TAXING POWERS OF THE CITY <br />AND ARE NOT SECURED EXCEPT AS PROVIDED IN THE INDENTURE. THE <br />OWNERS OF THE BONDS SHALL NEVER HAVE THE RIGHT TO DEMAND <br />PAYMENT THEREOF OUT OF ANY FUNDS OF THE CITY OTHER THAN THE <br />PLEDGED REVENUES AND ANY OTHER FUNDS HELD UNDER THE INDENTURE, <br />AS AND TO THE EXTENT PROVIDED IN THE INDENTURE. THE CITY SHALL <br />HAVE NO LEGAL OR MORAL OBLIGATION TO THE OWNERS OF THE BONDS TO <br />PAY THE BONDS OUT OF ANY FUNDS OF THE CITY OTHER THAN THE PLEDGED <br />REVENUES. <br />ARTICLE III. CONSTRUCTION AND ACQUISITION <br />Section 3.01. Acquisition of Major Public Improvements and Additional Public <br />Improvements <br />The Owner will dedicate some of the applicable Major Public Improvements identified in <br />Exhibit "D" to the City upon completion of Major Public Improvements, and the City will accept <br />dedication of such Major Public Improvements after confirming that the Major Public <br />Improvements have been completed in accordance with this Agreement and the Regulatory <br />Requirements. Some of the Major Public Improvements identified in Exhibit "D" will be <br />dedicated to the City by easement and maintained by an Owner's Association. <br />The Owner will dedicate some of the applicable Additional Public Improvements identified <br />in Exhibit "F -1" and Exhibit "F -2" to the City upon completion of the Additional Public <br />Improvements, and the City will accept dedication of such Additional Public Improvements after <br />confirming that the Additional Public Improvements have been completed in accordance with this <br />Agreement and the Regulatory Requirements. Some of the Additional Public Improvements <br />