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violation by the City of any law, rule or regulation, or any judgment, or decree applicable to it or (v) any litigation or other dispute in connection with the Ordinance or any other document related thereto or the transactions contemplated thereby, other than amounts resulting from negligence or willful misconduct on the part of the Insurer or from the failure ofthe Insurer to honor its obligations under the Insurance Policy. The Insurer reserves the right to charge a reasonable fee as a condition to executing any amendment, waiver or consent proposed in respect of the Ordinance or any document related thereto. (f) Information to be Provided to Insurer. The Insurer shall be provided with the following information: 1. Annual audited financial statements within 120 days after the end of the Issuer's fiscal year and the Issuer's annual budget within 30 days after the approval thereof; 11. Notice of any draw upon the Reserve Fund within two Business Days after knowledge thereof other than (i) withdrawals of amounts in excess of the Required Reserve and (ii) withdrawals in connection with a refunding of Bonds; 111. Notice of any default known to the Paying Agent/Registrar within five Business Days after knowledge thereof; IV. Prior notice ofthe advance refunding or redemption of any of the Bonds, including the principal amount, maturities and CUSIP numbers thereof; v. Notice of the resignation or removal of the Paying Agent/Bond Registrar and the appointment of, and acceptance of duties by, any successor thereto; VI. Notice of the commencement of any proceeding by or against the Issuer commenced under the United States Bankruptcy Code or any other applicable bankruptcy, insolvency, receivership, rehabilitation or similar law (an "Insolvency Proceeding"); V11. Notice of the making of any claim in connection with any Insolvency Proceeding seeking the avoidance as a preferential transfer of any payment of principal of, or interest on, the Bonds; V1l1. A full original transcript of all proceedings relating to the execution of any amendment or supplement to the Ordinance; and IX. All reports, notices and correspondence to be delivered under the terms of the Ordinance. Section 10.08. Federal Tax Matters. (a) The City hereby represents that the proceeds of the Bonds are needed at this time for the purposes specified in Section 3.01 hereof; that it is not reasonably expected that the proceeds of the Bonds or money deposited in the Interest and Sinking Fund will be used or invested in a manner that would cause the Bonds to be or become "arbitrage bonds," within the meaning of Section 148 of the Code; and that, except for the Interest and Sinking Fund, no other funds or accounts have been established or pledged to the payment of the Bonds. R:ISANMARIWWSS.OOIDOCSlFinalIORDWWSS. WPD 32