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Financial Cuaramhy hi:unurre <br />Gunpany <br />Page C-2 <br />reimburse Financial Guaranty for any draws on the Reserve Policy; <br />and (ii) that any amendment or supplement to or other <br />modification of the principal legal documents be subject to <br />Financial Guaranty's consent. The specific rights, if any, <br />granted to Financial Guaranty in connection with its issuance of <br />the Reserve Policy are set forth in the description of the <br />principal legal documents appearing elsewhere in this Official <br />Statement. Reference should be made as well to such description <br />for a discussion of the circumstances, if any, under which the <br />Indian River County, Florida is required to provide additional or <br />substitute credit enhancement, and related matters. <br />This Official Statement contains a section regarding the ratings <br />assigned to the Bonds and references should be made to such <br />section for a discussion of such ratings and the basis for their <br />assignment to the Bonds. Reference should be made to the <br />description of the issuer for a discussion of the ratings, if <br />any, assigned to such entity's outstanding parity debt that is <br />not secured by credit enhancement. <br />The Reserve Policy is not covered by the Property/Casualty <br />Insurance Security Fund specified in Article 76 of the New York <br />Insurance Law. <br />Financial Guaranty is a wholly-owned subsidiary of FGIC <br />Corporation (the "Corporation"), a Delaware holding company. The <br />Corporation is a subsidiary of General Electric Capital <br />Corporation ("GE Capital"). Neither the Corporation nor GE <br />Capital is obligated to pay the debts of or the claims against <br />Financial Guaranty. Financial Guaranty is a monoline financial <br />guaranty insurer domiciled in the State of New York and subject <br />to regulation by the State of New York Insurance Department. As <br />of September 30, 1995, the total capital and surplus of Financial <br />Guaranty was approximately $994,500,000. Financial Guaranty <br />prepares financial statements on the basis of both statutory <br />accounting principles and generally accepted accounting <br />principles. Copies of such financial statements may be obtained <br />by writing to Financial Guaranty at 115 Broadway, New York, New <br />York 10006, Attention: Communications Department (telephone <br />number: (212) 312-3000) or to the New York State Insurance <br />Department at 160 West Broadway, 18th Floor, New York, New York <br />10013, Attention: Financial Condition Property/Casualty Bureau <br />(telephone number: (212) 602-0389). <br />\carter\commit\indian. doc <br />