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L. The Series 1993 Bond Insurer shall be given prompt notice of any redemption, other than mandatory sinking fund redemption, of any Bonds, such - notice to include the principal amounts, maturities and CUSIP numbers of the Bonds to be redeemed. M. The Series 1993 Bond Insurer shall be given Immediate notice of any payment default with respect to the Bonds and any other default known to the County or the Paying Agent (and the Paying Agent is hereby authorized to give the Series 1993 Bond Insurer notice of any default known to the Paying Agent). N. The Series 1993 Bond Insurer shall be provided with a full transcript of all proceedings relating to the execution of any supplement to this Resolution or of any resolution amending or supplementing this Resolution. 0. So long as the Series 1993 Bond Insurance Policy is in effect, "provision for payment" under Section 24 hereof shall be considered as having been made only if the following are used to effect defeasance, unless the Series 1993 Bond Insurer shall otherwise approve: (1) cash; (2) Federal Securities; (3) evidences of ownership of a proportionate interest in specific Federal Securities, which Federal Securities are held by a bank or trust company organized and existing under the laws of the United States of America or any state thereof in the capacity of custodian; (4) the interest component of obligations issued by the Resolution Funding Corp, that have been stripped by request made to the Federal Reserve Bank of New York and held in book -entry form on the records of the Federal Reserve Bank; (5) obligations of state or local government municipal bond issuers (a) which are rated "AAA" by Standard and Poor's Corporation, or its successor ("S&P"), or "Aaa" or "#Aaa" by Moody's Investors Service, Inc., or its successor ("Moody's"), and (b) provision for the payment of the principal of and interest on which shall have been made by deposit with a trustee or escrow agent of (i) cash, (ii) Federal Securities or (iii) obligations of state or local government municipal bond issuers rated "AAA" by S&P or "Aaa" or "#Aaa" by Moody's; or (6) any combination of the foregoing. P. In the event of any advance refunding of Bonds, the Series 1993 Bond Insurer shall be provided with a report of an independent certified public accountant verifying that the funds to be on deposit for payment of the Bonds being refunded will be sufficient to pay the principal of and interest on the refunded Bonds upon stated maturities, mandatory redemption prior to maturity or optional redemption prior to maturity, as the case may be. SECTION 24. DEFEASANCE. If at any time the County shall have paid, or shall have made provision for payment of, the principal, interest and premiums, if any, with respect to any of the Bonds or any series thereof, then, and in that event, the pledge of and lien on the Pledged Funds in favor of the Registered 36