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9111: (ii) the payment to the Owners at th~ date of maturity, of the full amount to which the Owners would be entitled by way of principal, premium, if any, and interest to the date of such maturity or prior redemption; (iii) the investment of such moneys by the Paying Agent/Registrar in direct obligations of the United States of America, including obligations the principal of and interest on which are unconditionally guaranteed by the United States of America, which may be in book entry fonn, maturing and/or bearing interest payable at such times and in such amounts as will be sufficient to provide for the scheduled payments of such bonds; -- (iv) the sending of wTÍtten notice by :first class United States mail to the Owner of each Bond then outstanding within 30 days following the date of such deposit that such moneys are so available for such payment; and (v) the payment to the City, periodically or following final payment of the principal of, premium, if any, and interest on the Bonds, of any moneys, interest eanúllgs, profits or capital gains over and above tf1<? amOlmts necessary for such purposes. ARTICLE XIV LAPSE OF PAYMENT Section 14.01. Lapse ofPavrnent. . (a) Unclaimed Payments shall be segregated in a special escrow account and held in trust, uninvested, by the Paying AgentlRegistrar for the account of the Owner of the Bonds to which the Unclaimed Payments pertain. (b) Subject to any applicable escheat, abandoned property or similar law, including Title 6 of the Texas Property Code, Unclaimed Payments remaining unclaimed by the O'vTIers entitled thereto for three years after the applicable payment or redemption date shall be applied to the next payment or payments on the Bonds thereafter coming due, and, to the extent any such money remains after the retirement of all outstanding Bonds, .- shall be paid to the City to be used for any lavlfUl purpose. Thereafter, neither the City, the Paying AgentJRegistrar nor any other person shall be liable or responsible to any O'vTIers of such Bonds for any further payment of such unclaimed moneys or on account of any suéh Bonds, subject to any applicable escheat law or similar law. ARTICLE XV ESCROW AGREEMENT Section 15.01. Authorization and Execution of Escrow Agreement. The Escrow Agreement, substantially in the form and content presented at the meeting at which this Ordinance is adopted, is hereby approved, and the Mayor and City Secretary of the City are hereby authorized and directed to execute the Escrow Agreement on behalf of the City. The Escrow Agent is hereby appointed as the Escrow Agent pursuant to the Escrow Agreement. '" ""'- 'I>lAR \ WWS3. "'.D<JC3\O IIDNŒfN 31