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Financial (;uaranty Inuirancc <br /> Broadway y <br /> I ; <br /> I� Broadway Jt <br /> \cx% fork. NY 10000 <br /> (_1_) 312-3000 <br /> (800(35_-0001 <br /> A GE Capital Company <br /> Commitment <br /> For Municipal Bond Insurance <br /> Issuer: Indian River County, Florida Date of Commitment: April 20, 2001 <br /> Expiration Date: June 20, 2001* <br /> Bonds Insured: Revenue Bonds (Spring Training Premium: 2.0°'0 of Maximum Amount of Policv <br /> Facility), Series 2001, together with any parity <br /> obligations issued under the document authorizing Maximum Amount: A dollar amount equal to the <br /> the issuance of the Bonds, as amended and debt service reserve requirement for the Bonds, as <br /> supplemented, and secured by the same debt service specified in the authorizing document <br /> reserve fund <br /> FINANCIAL GUARANTY INSURANCE COMPANY <br /> ("Financial Guaranty") <br /> A Stock Insurance Company <br /> hereby commits to issue a Municipal Bond Debt Service Reserve Fund Policy (the "Reserve <br /> Policy"), in the form attached hereto as Exhibit A, relating to the above-described debt obligations <br /> (the"Bonds"),subject to the terms and conditions contained herein or added hereto. r <br /> To keep this Commitment in effect after the expiration date set forth above, a request for renewal <br /> must be submitted to Financial Guaranty prior to such expiration date. Financial Guaranty reserves <br /> the right to refuse wholly or in part to grant a renewal. <br /> THE MUNICIPAL BOND DEBT SERVICE RESERVE FUND POLICY SHALL BE <br /> ISSUED IF THE FOLLOWING CONDITIONS ARE SATISFIED: <br /> 1. The documents to be executed and delivered in connection with the issuance and sale of <br /> the Bonds shall not contain any untrue or misleading statement of a material fact and shall <br /> not fail to state a material fact necessary in order to make the information contained therein <br /> not misleading. <br /> 2. No event shall occur which would permit any purchaser of the Bonds, otherwise required, <br /> not to be required to purchase the Bonds on the date scheduled for the issuance and <br /> delivery thereof. <br /> 3. There shall be no material change in or affecting the Bonds (including, without limitation, <br /> the security for the Bonds) or the financing documents or the official statement (or any <br /> similar disclosure documents) to be executed and delivered in connection with the issuance <br /> * Subject to written acceptance of this Commitment being furnished to Financial Guarantv <br /> not later than April 27, 2001. <br /> Page I of 4 <br />