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Financial Guaranty Insurance Company FGICs 175 Water Strict New York, New York 100:38 (212) 607-3000 Municipal Bond New Issue Insurance Policy Financial Guaranty Iasis nee Company insurance company. in consideration o A terms of this Policy. hereby unco ' uo fll, N.A., or its succes�for l the portion of file prin-res oil tl ' Which shall becon fit,r„•r 1111r f of Folders, that u ns (the :.Bonds") of Nonpayment by the Issuer, lana tri ly n maize such ma neat. fo VOKH"r•al Agent on the date such principal ori ores be res Du for Payntem )r\!j fl isiness Day next following the day on whic Fir acial 'moral v shall ha , r ed Notice of Nonpaymem, whichever is later. he ' ' yen ' I dis se to c Bondholder the face anumnt of principal and interest ich i. Chet hl . o to is unpaid by reason of Nonpayment by the Issuer bat int apo reccip I ' the Fiscal Agent io form reasonably satisfactory to it, of (i) evidence of f , Bot ho S right to receive payment of the principal or interest Due for Pavnm•nt and ') once, including arty appropriate instruments of assignment, that all of the Bo o der:s rights to paq'nu•nt of such principal or interest Due for Payment shall thereupon vest in Financial Cuaramy. Upon such disbursement, Financial Guaranty shall become tit(- owner of the Boad, appurtenant coupon or right to payment of principal or interest on such Bond and shall be fully subrogated to all of the Bondholder's rights thereunder, including the Bondholder's right to payment thereof. ]'his Policy is non-cmrcellable forany reason. The premium on this Policy is not refundable for any reason, including the payment of file Bonds prior to their maturity. This Policy docs not insure against loss of any prepayment premium which stay at any fine• be payable with respect to any Bond. As used herein, the term "Bondholder" means, as to n particular Bond, the person other than the Issuer who, at the time of Nonpayrnont, is entitled ander the terms of such Bond to payment thereof. "Due for Payment" means, when referring to the principal of it l3ond, tile, stated maturity date thereof orthe dice on which the same shall have been duly called for mandatory sinking fund redemption and docs not refer to aufy earlier date oil which payment is (life by reason of call for redemption (other than by Imatlllatory sinking fulfil redemption), acceleration or other advancement of maturity and neons, when referring to Page 1 of 2 Form 9000 SM: Service nark used 6y Finanriol f;uanatt' Insurance Compnn�. under license from its parent Company, I GIC Corporation