Statutory lien created

The Bonds are automatically upon issuance secured by a statutory lien on the Trust Estate created by this section. The Matching Fund Securitization Bonds and any Subordinate Lien Bonds have the benefit of and are secured by a statutory lien upon the Trust Estate, which statutory lien is effective, binding, and enforceable against creditors and all others asserting rights therein or having claims of any kind in tort, contract, or otherwise, irrespective of whether those parties have notice of the lien and without the need for any physical delivery, recordation, filing or further act of any kind. The statutory lien arises by operation of law pursuant to this section and automatically attaches to the Trust Estate from the time the Bonds are issued, without further action, filing or authorization by the Corporation or any other entity, person, governmental authority, or officer. As it relates to the Matching Fund Securitization Bonds and any Subordinate Lien Bonds, the statutory lien on Matching Fund Receipts that constitute Residual Receipts is automatically released and discharged immediately upon deposit by the Trustee of the amounts of Residual Receipts into the Residual Fund without further action, filing or authorization by the Corporation or any other entity, person, governmental authority, or officer.