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r - Credit begin to bear interest at a rate other than the Variable Rate. Prior to the expiration of any Letter of Credit or any other Credit Facility securing the Bonds of an Issue, the Company, with the consent of UHC, may deliver to the Trustee a Qualified Credit Facility without notice to or the consent of the holders of the Bonds of such Issue, or an Alternate Credit Facility, as described under "Security and Sources of Payment for the Bonds - Substitute Credit Facilities." The Bonds of each Issue will be subject to mandatory tender if the Company does not deliver to the Trustee a Qualified Credit Facility prior to the expiration of the Letter of Credit or any other Credit Facility securing such Bonds unless the holders thereof elect to retain such Bonds as described under "The Bonds - Optional and Mandatory Tender - Mandatory Tender Upon Expiration of Credit Facility." Each Letter of Credit and any Qualified Credit Facility or Alternate Credit Facility replacing such Letter of Credit are herein referred to as a "Credit Facility." The Bank and the issuer of any substitute Credit Facility are herein referred to as a "Credit Facility Provider," and the Reimbursement Agreement and each agreement pursuant to which any substitute Credit Facility is issued are herein referred to as a "Credit Facility Agreement." Brief descriptions of the application of the proceeds of the Bonds, the Bonds, the security and sources of payment for the Bonds and the Company, as well as the definitions of certain terms used in this Official Statement and summaries of certain provisions of the Indentures and the Loan Agreements, are included in this Official Statement. Information with respect to the Bank is included in Appendix A. The proposed form of the Bonds is included in Appendix B. The proposed forms of the approving opinions of Piper & Marbury and Shutts & Bowen, Co -Bond Counsel, are included in Appendix C. Appendix D includes summaries of certain provisions of the Bank security documents. Descriptions of the Issuers, the Enabling Legislation, the Projects, the Sinking Fund Installments for the Bonds of each Issue and the special denominations, if any, for the Bonds of certain Issues are included in Appendix E. The descriptions of documents contained herein are qualified in their entirety by reference to such documents and to laws and principles of equity relating to or affecting the enforcement of creditors' rights. Copies of the Letters of Credit, the Indentures and the Loan Agreements may be obtained from the Trustee. . APPLICATION OF PROCEEDS The proceeds of sale of the Bonds of each Issue will be applied on or shortly after the date of initial delivery of such Bonds to the Payment of the outstanding principal amount of another issue of industrial development bonds previously issued by the Issuer of such Bonds in order to finance a portion of the cost of constructing and acquiring a Project. The Trustee may be the owner of some of these industrial development bonds previously issued by the Issuers. See Appendix E for a description of the Projects and the Bonds, if any, issued to refund industrial development bonds held by the Trustee. -3-