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RESOLUTION NO. 95-75 <br />B. The County agrees to provide or cause to be provided, in <br />a timely manner, to each NRMSIR"or to the Municipal Securities <br />Rulemaking Board ("MSRB"), and the SID, notice of the occurrence of <br />any of the following events with respect to the Bonds, if material: <br />(1) principal and interest payment delinquencies; <br />(2) non-payment related defaults; <br />(3) unscheduled draws on debt service reserves <br />reflecting financial difficulties; <br />(4) unscheduled draws on credit enhancements reflecting <br />financial difficulties; <br />(5) substitution of credit or liquidity providers, or <br />their failure to perform; <br />(6) adverse tax opinions or events affecting the tax- <br />exempt status of the security; <br />(7) modifications to rights of security holders; <br />(8) bond calls; <br />- (9) defeasance; <br />(10) release, substitution, or sale of property securing <br />repayment of the securities; and <br />(11) rating changes <br />C. The County agrees to provide or cause to be provided, in <br />a timely manner, to (i) each NRMSIR or to the MSRB and (ii) the <br />SID, notice of its failure to provide the Annual Information with <br />respect to itself on or prior to the date -set forth in paragraph A <br />above. <br />D. The obligations of the County hereunder shall remain in <br />effect only so long as the .Bonds are outstanding. The County <br />reserves the right to terminate its obligation to provide the <br />Annual Information and notices of material events, as set forth <br />above, if and when the County no longer remains an obligated person <br />with respect to the Bonds, within the meaning of the Rule. <br />E. The County agrees that its undertaking pursuant to the <br />Rule set forth in this Section is intended to be for the benefit of <br />the owners of the Bonds, and shall be enforceable by such owners; <br />provided, that solely in the event the County fails to timely file <br />the Annual Information in accordance with paragraph A above, any <br />owner of the Bonds shall have the right to enforce, on behalf - of <br />all owners of the Bonds, the County's undertaking to make such <br />0 <br />53 <br />June 20, 1995 <br />500K 95 PAGE 500 <br />