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proceeds (provided that so long as the Bond Insurance Policy is in effect, not more than 40% of the Net Revenues described in this subclause (iv) shall be used as an adjustment under this clause (B) without the consent of the Bond Insurer); and (C) any amounts owed by the County to the issuer of a Reserve Account Credit Instrument as a result of a draw thereon, as appropriate, shall be added to the principal and interest payable thereon on the Bonds to determine compliance with the foregoing test. Ali or any part of the certificate required under the second paragraph of this subsection may be rendered by consulting engineers, consultants or other persons with requisite knowledge and experience who are not reasonably objected to by the Bond Insurer. Additional Parity Bonds may not be issued at any time while the County is in default in performing any of the coverrta and obligations under the Master Bond Resolution, or all payments herein required to have been made into the accounts and funds, as provided under the Master Bond Resolution, have not been made to the full extent required. The foregoing conditions shall not apply with respect to Additional Parity Bonds the proceeds of which will be used to complete a project a substantial portion of the cost of which has been or will be paid out of the proceeds of Bonds issued under the Master Bond Resolution. The County has covenanted for the benefit of the Registered Owners of the Bonds issued and outstanding under the Master Bond Resolution that the County shall, at the time of issuance of any Additional Parity Bonds, make a deposit to the Reserve Account so that the Reserve Account shall have a value of cash and investments at such time equal to the lesser of (i) the Reserve Account Requirement (including the Additional Parity Bonds and giving effect to the retirement of any Bonds being refunded with proceeds of the Additional Parity Bonds); or (u) the maximum amount as will not adversely affect the exclusion of interest on the Series 1996 Bonds from the gross income of the holders of the Series 1996 Bonds. Junior Lks Bonds The County is authorized to issue obligations other than Bonds payable from the Pledged Funds provided such obligations are junior and subordinate in all respects to the Bonds as to lien on and source and security for payment from the Pledged Funds and such obligations contain an express statement to that effect. ESTIMATED SOURCES AND USES OF FUNDS Sources: Principal Amount of Series 1996 Bonds S Accrued Interest Original Issue Discount Uses: Total Sources $ Deposit to Construction Account S Deposit o to Sinking Total Uses S (1) Includes underwriter's discount and premium for Municipal Bond Insurance Policy and Debt Service Reserve Fund Policy. 12