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Financial Guaranty Insurance Company <br />115 Broadway <br />New York, New York 10006 <br />(212) 312-3000 <br />(800) 352- 000 1 <br />Municipal Bond Debt Service <br />Reserve Fund Policy <br />This Policy is non -cancellable for any reason, including the failure <br />of the Issuer to reimburse Financial Guaranty for any payment made <br />hereunder. <br />As used herein, the term "Bondholder" means, as to a particular Bond, <br />the person other than the Issuer who, at the time of Nonpayment, is <br />entitled under the terms of such Bond to payment thereof. "Due for <br />Payment" means, when referring to the principal of a Bond, the stated <br />maturity date thereof or the date on which the same shall have been <br />duly called for mandatory sinking fund redemption and does not refer <br />to any earlier date on which payment is due by reason of call for <br />redemption (other than by mandatory sinking fund redemption), <br />acceleration or other advancement of maturity and means, when <br />referring to interest on a Bond, the stated date for payment of <br />interest. "Nonpayment" in respect of a Bond means the failure of the <br />Issuer to have provided sufficient funds to the Paying Agent for <br />payment :n full of all principal and interest Due for Payment on such <br />Bond and includes any payment of principal or interest made to a <br />Bondholder by or on behalf of the issuer of such Bond which has been <br />recovered from such Bondholder pursuant to the United States <br />Bankruptcy Code by a trustee in bankruptcy in accordance with a final, <br />nonappealable order of a court having competent jurisdiction. <br />"Notice" means telephonic or telegraphic notice, subsequently <br />confirmed in writing, or written notice by registered or certified <br />mail, from the Paying Agent for the Bonds to Financial Guaranty or <br />from Financial Guaranty to the Paying Agent, as the case may be. <br />"Business Day" means any day other than a Saturday, Sunday or a day oto <br />which the Paying Agent is authorized by law to remain closed. <br />In Witness Whereof, Financial Guaranty has caused this Policy to he <br />affixed with its corporate seal and to be signed by its duly <br />authorized officer in facsimile to become effective and hindinq upon <br />Financia'_ Guaranty by virtue of the countersignature of its duly <br />authorized representative. <br />President Authorized Repre:ientat.ive <br />Effective. Date: <br />Form 901.A <br />Page 2 of 2 <br />e�� <br />