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Section 7. Allocation of Proceeds of the Refundin~ Bonds; Establishment and Application of Escrow Account. Except for such portion of the proceeds of the Refunding Bonds ms the Fiscal Officer certifies in wri=img to the T~ustee to be required for payment of costs of issuance of the Refunding Bonds (including, without limitation, fees of the Refunding Trustee for the per/od from the date of issue of the Refunding Bonds to the Crossover Date), which portion shall immediately be disbursed to the Issuer for payment of such costs, the entire amount of the proceeds from the sale of the Refunding Bonds shall be deposited in account to be held in the custody of the Refunding Trustee and designated as the "Lakewood Hospital 1986 Refunding Escrow Account" (herein referred to and defined as the "Escrow Account"). The Refunding Trustee shall cause the proceeds so deposited in the Escrow Account to be invested in Escrow Securities to the extent and in accordance with the specifications of the Fiscal Officer. The Trustee shall hold the Escrow Account and the moneys and Escrow Securities on deposit therein in accordance herewith and the Escrow Agreement in trust and irrevocably committed to: (i) the payment of the interest on the Refunding Bonds as and when due from their date to the Crossover Date; and (ii) the payment on the Crossover Date of (a) the redemption price for all then outstand- ing Series 1983 Bonds, if the remarketing of the Refunding Bonds ten- dered or deemed tendered for purchase shall have succeeded in accordance with Section 6 hereof, or (b) the purchase or redemption price for the Refunding Bonds if the remarketing of the Refunding Bonds shall not have succeeded or if the Refunding Bonds shall have become subject to extra- ordinary mandatory redemption pursuant hereto. The Trust Agreement shall make further provision for the application of any moneys on deposit in the Escrow Account to the foregoing purposes and for the application of such moneys on deposit in the Escrow Account on or prior to the Crossover Date but not required for any of the foregoing purposes to be transferred to the Debt Service ]Fund or otherwise applied to the redemption or payment of Bond Service Charges on Bonds. Section 8. Trust A~reement; Escrow A~reement; Remarketin~ Asreement; Other Instruments. The Executive and the Fiscal Officer are, and each of them is, hereby authorized and directed to cause to be prepared the Trust Agree- ment, Escrow Agreement and Remarketing Agreement for the respective purposes set forth herein and consistent with the respective require- ments hereof applicable thereto, with such additional provisions not inconsistent with this Refunding Bonds Legislation as such officers determine to be reasonable, customary and in the best interests of the Issuer for purposes of effecting the transactions hereby contemplated. The Executive and the Fiscal Officer are hereby further authorized and directed, in each case after approval of the form and correctness thereof by the Legal Officer, to execute and deliver the Trust Agree- ment, Escrow Agreement and Remarketing Agreement in the name and on behalf of the Issuer. The execution of any such agreement by the officer or officers hereby thereunto duly authorized shall conclusively evidence the Issuer's approval thereof and the fulfillment of the requirements set forth in this Section 8.