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LM723: What connection is used for Vz?

Part Number: LM723

Hello Sir/Madam,

I am graduate student from University of Colorado,Boulder.I am using LM723 for my student project and I was not sure where exactly should Vz (pin 9 as per connection diagram from the datasheet -Figure 1)  be connected in Figure 4. 

Also, I have an LED as my load which has rating of 5volts, 20mA. Would this be fine to work with in this application?

If I plan to have variable resistor varying the output voltage from 2v-7v would this work as well?

Hoping for your feedback!

Thank you and appreciate your help in advance!

Kind Regards,

Harshith Alvakonda.