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regulations thereunder pertaining to tax-exempt obligations such as the Series 1991 Bonds. Section 7. The Underwriter has entered into this Agreement in reliance upon the representations, warranties and agreements of the Issuer herein and the performance by the Issuer of its obligations hereunder, both as of the date hereof and as of the Closing Date. The Underwriter's obligations under this Agreement are and shall be subject to the following further conditions: (a) At the time of the Closing, (i) the Official Statement and the Resolution shall be in full force and effect and shall not have been amended, modified or supplemented except as may have been agreed to in writing by the Underwriter, (ii) the proceeds of the sale of the Series 1991 Bonds shall be applied as described in the Official Statement, (iii) the Issuer shall have duly adopted and there shall be in full force and effect such resolutions of the Issuer as, in the opinion of either Rhoads & Sinon, Bond Counsel or Carlton, Fields, Ward, Emmanuel, Smith & Cutler, P.A., Counsel for the Underwriter, shall be necessary in connection with the transactions contemplated hereby and by the Resolution, and the Official Statement, (iv) the Issuer shall perform or have performed all of the obligations required under or specified in this Agreement, the ' Resolution and the Official Statemont to be performed at or prior to the Closing; (v) the consent and approval of FmHA to the issuance and sale of the Series 1991 Bond shall have been obtained; and (vi) the representations, warranties and agreements of. the Issuer contained in this Agreement shall be true, complete and correct on this date and on the Closing Date, as if then made; (b) The Underwriter shall have the right, pursuant to written notice given to the Issuer, to cancel its obligations to purchase the Series 1991 Bonds, if between the date hereof and the Closing any of the following occurs: (i) legislation shall have been introduced or enacted by the Congress of the United States or by the State or adopted by either House of the Congress or favorably reported for passage to either House of the Congress or any Committee of such House to which such legislation has been referred for consideration or recommended to congress or otherwise endorsed for passage or proposed for consideration by press release, other form of notice or otherwise by the President of the United States, the United States Treasury Department, the Internal Revenue Service, the Joint Committee on Taxation of thr. United States Congress or the Chairman or Ranking Member of either the Committee on Finance of the United States Senate or the committee on Ways and Means of the United States House of Representatives, or by any member 7