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The Insurer's policy does not insure against loss of any prepayment premium which may at any time be payable with respect to any Series 1992 Bond. The Insurer's policy does not, under any circumstances, insure against loss relating to: (i) optional or mandatory redemptions (other than mandatory sinking fund redemptions); (ii) any payments to be made on an accelerated basis; (iii) payments of the purchase price of Series 1992 Bonds upon tender by an owner thereof; or (iv) any Preference relating to (i) through (iii) above. The Insurer's policy also does not insure against nonpayment of principal of or interest on the Series 1992 Bonds resulting from the insolvency, negligence or any other act or omission of the Paying Agent or any other paying agent for the Series 1992 Bonds. Upon receipt of telephonic or telegraphic notice, such notice subsequently confirmed in writing by registered or certified mail, or upon receipt of written notice by registered or certified mail, by the Insurer from the Paying Agent or any owner of a Series 1992 Bond the payment of an insured amount for which is then due, that such required payment has not been made, the Insurer on the due date of such payment or within one business day after receipt of notice of such nonpayment, whichever is later, will make a deposit of funds, in an account with Citibank, NA., in New York, New York, or its successor, sufficient for the payment of any such insured amounts which are then due. Upon presentment and surrender of such Series 1992 Bonds or presentment of such other proof of ownership of the Series 1992 Bonds, together with any appropriate instruments of assignment to evidence the assignment of the insured amounts due on the Series 1992 Bonds as are paid by the Insurer and appropriate instruments to effect the appointment of the Insurer as agent for such owners of the Series 1992 Bonds in any legal proceeding related to payment of insured amounts on the Series 1992 Bonds, such instruments being in a form satisfactory to Citibank, NA., Citibank, NA. shall disburse to such owners or the Paying Agent payment of the insured amounts due on such Series 1992 Bonds, less any amount held by the Paying Agent for the payment of such insured amounts and legally available therefor. The Insurer is the principal operating subsidiary of MBIA, Inc., a New York Stock Exchange listed company. MBIA Inc. is not obligated to pay the debts of or claims against the Insurer. The Insurer is a limited liability corporation rather than a several liability association. The Insurer is domiciled in the State of New York and licensed to do business in all 50 states, the District of Columbia and the Commonwealth of Puerto Rico. As of December 31, 1991 the Insurer had admitted assets of $2.0 billion (audited), total liabilities of $1.4 billion (audited), and total capital surplus of $647 million (audited) determined in accordance with statutory accounting practices prescribed or permitted by insurance regulatory authorities. As of June 30, 1992, the Insurer had admitted assets of $2.3 billion (unaudited), total liabilities of $1.6 billion (unaudited), and total capital and surplus of $746 million (unaudi(ed) determined in accordance with statutory accounting practices prescribed or permitted by insurance regulatory authorities. Copies of the Insurer's year end financial statements prepared in accordance with statutory accounting practices are available from the Insurer. The address of the Insurer is 113 King Street, Armonk, New York 10504. Moody's Investors Service rates all bond issues insured by the Insurer "Aaa" and short term loans "MIG 1", both designated to be of the highest quality. Standard & Poor's Corporation rates all new issues insured by the Insurer "AAA" Prime Grade. The Moody's Investors Service rating of the Insurer should be evaluated independently of the Standard & Poor's Corporation rating of the Insurer. No application has been made to any other rating agency in order to obtain additional ratings on the Series 1992 Bonds. The ratings reflect the respective rating agencys current assessment of the creditworthiness of the Insurer and its ability to pay claims on its policies of insurance. Any further explanation as to the significance of the above ratings may be obtained only from the applicable rating agency.