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The Municipal Bond Insurance Policy does not insure any risk other than Nonpayment, as defined in the Policy. Specifically, the Municipal Bond Insurance Policy does not cover: 1. payment on acceleration, as a result of a call for redemption (other than mandatory sinking fund redemption) or as a result of any other advancement of maturity. 2. payment of any redemption, prepayment or acceleration premium. 3. nonpayment of principal or interest caused by the insolvency or negligence of any Trustee or Paying Agent, if any. If it becomes necessary to call upon the Municipal Bond Insurance Policy, payment of principal requires surrender of Series 1993 Bonds to the Insurance Trustee together with an appropriate instrument of assignment so as to permit ownership of such Series 1993 Bonds to be registered in the name of the Insurer to the extent of the payment under the Municipal Bond Insurance Policy. Payment of interest pursuant to the Municipal Bond Insurance Policy requires proof of Bondholder entitlement to interest payments and an appropriate assignment of the Bondholder's right to payment to the Insurer. Upon payment of the insurance benefits, the Insurer will become the owner of the Series 1993 Bond, appurtenant coupon, if any, or right to payment of principal or interest on such Series 1993 Bond and will be fully subrogated to the surrendering Bondholder's rights to payment. The insurance provided by the Municipal Bond Insurance Policy is not covered by the Florida Insurance Guaranty Association. AMBAC Indemnity Corporation The Insurer is a Wisconsin -domiciled stock insurance corporation regulated by the Office of the Com- missioner of Insurance of the State of Wisconsin and licensed to do business in 50 states, the District of Columbia, and the Commonwealth of Puerto Rico, with admitted assets of approximately $1,725,000,000 (unaudited) and statutory capital of approximately $963,000,000 (unaudited) as of March 31, 1993. Statutory capi- tal consists of the Insurer's policyholders' surplus and statutory contingency reserve. The Insurer is a wholly- owned subsidiary of AMBAC Inc, a 100% publicly -held company. Moody's Investors Service and Standard & Poor's Corporation have both assigned a triple-A claims -paying ability rating to the Insurer. Copies of the Insurer's financial statements prepared in accordance with statutory accounting standards are available from the Insurer. The address of the Insurer's administrative offices and its telephone number are One State Street Plaza, 17th Floor, New York, New York, 10004 and (212) 668-0340. The Insurer has entered into pro rata reinsurance agreements under which a percentage of the insurance underwritten pursuant to certain municipal bond insurance programs of the Insurer has been and will be assumed by a number of foreign and domestic unaffiliated reinsurers. The Insurer has obtained a ruling from the Internal Revenue Service to the effect that the insuring of an obligation by the Insurer will not affect the treatment for federal income tax purposes of interest on such obli- gation and that insurance proceeds representing maturing interest paid by the Insurer under policy provisions substantially identical to those contained in its municipal bond insurance policy shall be treated for federal income tax purposes in the same manner as if such payments were made by the issuer of the Series 1993 Bonds. The Insurer makes no representation regarding the Series 1993 Bonds or the advisability of investing in the Series 1993 Bonds and makes no representation regarding, nor has it participated in the preparation of,