Laserfiche WebLink
Financial Guaran(y Insuranrr <br />Onlipany <br />the due authorization, validity and enforceability <br />of all financing and bond documentation. Copies of <br />all drafts of such documents and legal opinions <br />(blacklined as appropriate) prepared subsequent to <br />the date of this Commitment shall be furnished to <br />Financial Guaranty. Final drafts of such documents <br />shall be provided to Financial Guaranty at least <br />five (5) business days prior to the issuance of the <br />Policy unless Financial Guaranty shall approve a <br />shorter period and such document-- shall be <br />satisfactory to Financial Guaranty in all respects. <br />(b) Evidence of wire transfer in federal funds in an <br />amount equal to the insurance premium, unless <br />alternative arrangements for the payment of the <br />premium acceptable to Financial Guaranty have been <br />made prior to the delivery date of the Bonds. <br />(c) On or prior to the date of delivery of the Policy, <br />Financial Guaranty shall receive a letter from bond <br />counsel stating that all requirements of Condition <br />6 to this Commitment have been satisfied and <br />incorporated into the appropriate bond documents. <br />All drafts of the preliminary official statement, <br />official statement or any other disclosure documents and <br />the form of the Bonds should be directed to the <br />attention of Esther K. Sandy (212-312-3261) at Financial <br />Guaranty for approval. All other documentation and any <br />inquiries concerning this Commitment should be directed <br />to Elza Carter (212-312-3071), the Financial Guaranty <br />analyst assigned to this transaction. <br />ADDITIONAL CONDITIONS <br />6. The applicable supplement shall contain all of the same <br />terms granted to or for the benefit of Financial <br />Guaranty to the same extent set forth in the Issuer's <br />Supplements relating to the FGIC-insured Series 1989, <br />Series 1991, and Series 1993 Bonds. Such supplement <br />shall be subject to Financial Guaranty review and <br />approval. <br />7. The authorizing documents) shall be subject to <br />Financial Guaranty's review and approval and shall <br />incorporate all of the terms and conditions set forth in <br />this Commitment hereto, all of which provisions may, at <br />bond counsel's election, be incorporated into one <br />article of, or as an exhibit to, the authorizing <br />document(s), or may be incorporated into the appropriate <br />specific sections of the authorizing document(s). <br />fine 3 )f 4 <br />