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Fm.uri,il (ui.u,uu In,w:,n� Company t and sale on the Bonds tom the descriptions or torms thereon approved by Financial Guaranty. 4. The Bonds shall contain no reference to Financial Guaranty, the Reserve Policy or the reserve fund insurance evidenced thereby except as may be approved by Financial Guaranty. �. Financial Guaranty shall be provided with: (a) Executed copies of all financing documents, the official statement (or any similar disclosure document), and all Bond documentation evidencing the Issuer's ability and intent to comply with the Internal Revenue Code of 1986 (if in the opinion of bond counsel (described below) on-going compliance would be necessary to maintain the exemption from federal income taxation of interest on the Bonds), which shall be in form and substance acceptable to Financial Guaranty, and the various legal opinions delivered in connection with the issuance and sale of the Bonds, including, without limitation, the unqualified approving opinion of bond counsel rendered by a law firm acceptable to Financial Guaranty, which opinion shall include a statement to the effect that the interest on the Bonds is excludable from gross income for federal income tax purposes under the Internal Revenue Code of 1986 (if the Bonds are issued as tax-exempt obligations). (b) A letter from bond counsel addressed to Financial Guaranty to the effect that Financial Guaranty may rely on the approving opinion of bond counsel as if such opinion were addressed to Financial Guaranty. (c) An opinion of bond counsel, addressed to and in form and substance satisfactory to Financial Guaranty, as to the due authorization, validity and enforceability of the authorizing document (as hereinafter defined) and all other principal financing documents. (d) Evidence of wire transfer in Federal funds in an amount equal to the insurance premium, unless alternative arrangements for the payment of such amount acceptable to Financial Guaranty have been made prior to the delivery date of the Reserve Policy. 6. The document authorizing the issuance of the Bonds, as amended and supplemented (the "authorizing document")shall include the following terms and conditions: (a) The flow of funds shall be revised to provide that the Issuer's repayment of any draws under the Reserve Policy and related reasonable expenses incurred by Financial Guaranty(together with interest thereon at a rate equal to the lower of(i) the prime rate of Morgan Guaranty Trust Company of New York in effect from time to time plus 2% per annum and (ii) the highest rate permitted by law) shall enjoy the same priority as the obligation to maintain and refill the reserve fund. Repayment of draws, expenses and accrued interest (collectively, "Policy Costs") shall commence in the first month following each draw, and each such monthly payment shall be in an amount at least equal to 1/12 of the aggregate of Policy Costs related to such draw. If and to the extent that cash has also been deposited in the reserve fund, all such cash shall be used (or investments purchased with such cash shall be liquidated and the proceeds applied as required) prior to any drawing under the Reserve Policy, and repayment of any Policy Costs shall be made prior to replenishment of any such cash amounts. If, in addition to the Reserve Policy, Page 2 of 4