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names ofthe Beneficial Owners, except in the event participation in the book -entry system is discontinued <br />as described below. <br />To facilitate subsequent transfers, all Bonds deposited by Participants withDTC are registered in <br />the name of DTC's partnership nominee, Cede & Co. The deposit of Bonds and their registration in the <br />name of Cede & Co. effect no change in beneficial ownership. DTC has no knowledge of the actual <br />Beneficial Owners ofthe Bonds; DTC's records reflect only the identityofthe Direct Participants to whose <br />accounts such Bonds are credited, which may or may not be the Beneficial Owners. The Participants will <br />remain responsible for keeping account of their holdings on behalf of their customers. <br />Conveyance of notices and other communications by DTC to Direct Participants, by Direct <br />Participants to Indirect Participants and by Direct Participants and Indirect Participants to Beneficial <br />Owners willbe governed by arrangements among them, subject to any statutory or regulatory requirements <br />as may be in effect from time to time. <br />Redemption notices will be sent to Cede & Co.. If less than all of the Bonds within a maturity of <br />a series are being redeemed, DTC's practice is to determine by lot the amount ofthe interest of each Direct <br />Participant in such maturity to be redeemed. <br />Neither DTC nor Cede & Co. will consent or vote with respect to the Bonds. Under its usual <br />procedures, DTC mails an Omnibus Proxy to the County as soon as possible after the record date. The <br />Omnibus Proxy assigns Cede & Co.'s consenting or voting rights to those Direct Participants to whose <br />accounts the Bonds are credited on the record date (identified in a listing attached to the Omnibus Proxy). <br />Principal and interest payments on the Bonds will be made to DTC. DTC's practice is to credit <br />Direct Participants accounts on the payable date in accordance with their respective holdings shown on <br />DTC's records unless DTC has reason to believe that it will not receive payment on the payable date. <br />Payments by Participants to Beneficial Owners will be governed by standing instructions and customary <br />practices, as is the case with securities held for the accounts of customers in bearer form or registered in <br />"street name," and will be the responsibility of such Participant and not of DTC, the Paying Agent or the <br />County, subject to any statutory or regulatory requirements as maybe in effect fromtime to time. Payment <br />of principal and interest to DTC is the responsibility of the County or the Paying Agent, disbursement of <br />such payments to Direct Participants shall be the responsibilityofDTC, and disbursement of such payments <br />to the Beneficial Owners shall be the responsibility of Direct and Indirect Participants. <br />DTC may discontinue providing its services as securities depository with respect to the Bonds at <br />any time by giving reasonable notice to the County or the Paying Agent. Under such circumstances, in the <br />event that a successor securities depository is not obtained, Bond certificates will be printed and delivered. <br />The County may decide to discontinue use of the book -entry only system for transfers through <br />DTC (or a successor securities depository). In such event Bond certificates will be printed and delivered. <br />4 <br />