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I <br />� <br />�f <br />ItI <br />I <br />4. <br />I! <br />5. <br />Proceedings legally required for the issuance of the Policy have been taken by AMBAC <br />Indemnity and licenses, orders, consents or other authorizations or approvals of any <br />governmental boards or bodies legally required for the enforceability of the Policy have <br />been obtained; any proceedings not taken and any licenses, authorizations or <br />approvals not obtained are not material to the enforceability of the Policy. <br />The statements contained in the Official Statement under the heading ">," insofar as <br />such statements constitute summaries of the matters referred to therein, accurately <br />reflect and fairly present the information purported to be shown and, insofar as such <br />statements describe AMBAC Indemnity, fairly and accurately describe AMBAC <br />Indemnity. <br />6. The form of Policy contained in the Official Statement under the heading ">" is a true <br />and complete copy of the form of Policy. <br />Very truly yours, <br />Vice President and <br />Assistant General Counsel <br />1%. <br />