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Insurance Company has been so approved) and submitted to the County prior to the opening of the bids, identifying each bidder whose deposit is guaranteed by the Financial Surety Bond, which shall evidence good faith on the part of the bidder. If a check is delivered, the check of the successful bidder may be cashed by the County and the proceeds will be held as security for performance of the bid. If a Financial Surety Bond is provided by the successful bidder the good faith deposit shall be delivered by wire transfer to the County by 11:00 a.m., Eastern Daylight Time. the next business day. If the Successful Bidder shall fail to comply promptly with the terms of its Proposal, ' e amount of such check will be forfeited to said payee as liquidated damages. The checks of unsuccessful bidders will be returned to such bidders by registered mail at the addresses stated in their Proposals, or delivered to a representative of such bidder immediately after the award of the Series 1995 Bonds to the Successful Bidder. The proceeds of the good faith check of the Successful Bidder will be applied to the payment of the purchase price of the Series 1995 Bonds. Prior to the delivery of the Series 1995 Bonds, the County may cash and invest the proceeds from the good faith check. No interest will be paid to any bidder upon any good faith check. Pursuant to Section 218.385(2) and (3) of the Florida Statutes, as amended, a completed truth -in -bonding statement will be required from the Successful Bidder as part of the Proposal, and the form thereof is made a part of such Proposal. Continuing Discloso— The County will agree in the Resolution, as supplemented, to provide or cause to be provided, in accordance with the requirements of Rule 15c2-12 (the "Rule") promulgated by the Securities and Exchange Commission, (a) on or prior to June 1 of each year, certain annual financial information and operating data, including audited financial statements for the preceding fiscal year as soon as such report is accepted by the Commission, generally consistent with the information contained or cross-referenced in the Official Statement; (b) timely notice of the occurrence of certain material events with respect to the Series 1995 Bonds; and (c) timely notice of a failure by the County to provide the required annual financial information on or before the date specified in (a) above. The Successful Bidder's obligation to purchase the Series 1995 Bonds shall be conditioned upon its receiving, at or prior to the delivery of the Series 1995 Bonds, in form and substance reasonably satisfactory to the Successful Bidder, evidence that the County has made the continuing disclosure undertaking set forth above in a written agreement or contract for the benefit of the holders of the Series 1W5 Bonds. Delivery and Paymen It is anticipated that the Series lW5 Bonds in fully registered, book -entry form will be available for delivery on July 25, 1995 in New York, New York at The Depository Trust Company, against the payment of the purchase price therefor including accrued interest calculated on a 300 -day year basis, less the amount of the good faith check, in immediately available Federal Reserve Funds without cost to the County. Closing Documents The County will furnish to the Successful Bidder upon delivery of the Series 1995 Bonds the following closing documents in a form satisfactory to Bond Counsel: (1) signature and no -litigation certificate; (2) federal tax certificate; (3) certificate regarding information in the Official Statement; (4) certificate regarding the County's obligation to provide continuing disclosure pursuant to the Rule; and (5) sellers receipt as to payment. A copy of the transcript of the proceedings authorizing the Series 1995 Bonds will be delivered to the Successful Bidder of the Series 1995 Bonds upon request. Copies of the form of such closing papers and certificates may be obtained from the County. 6