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<br /> I)Þ'þ'J" <br /> principal of and interest on the Bonds due on the second fol10wing <br /> or fol10wing, as the case may be, Business Day, the Paying Agent <br /> shall immediately notify MBIA or its designee on the same Business <br /> ; Day by telephone or telegraph, confirmed in writing by registered or <br /> certified mail, of the amount of the deficiency. <br /> (b) If the deficiency is made up in whole or in part prior <br /> to or on the payment date, the Paying Agent shall so notify MBIA or <br /> its designee. <br /> (c) In addition, if the Paying Agent has notice that any <br /> Bondholder has been required to disgorge payments of principal or <br /> interest on the Bond to a trustee in Bankruptcy. 0 r creditors or <br /> others pursuant to a final judgment by a court of competent <br /> jurisdiction that such payment constitutes a voidable preference to <br /> such Bondholder within the meaning of any applicable bankruptcy <br /> laws, then the Paying Agent shall notify MBIA or its designee of <br /> such fact by telephone or telegraphic notice, confirmed in writing <br /> by registered or certified mail. <br /> (d) The Paying Agent is hereby irrevocably designated, <br /> appointed, directed and authorized to act as attorney-in-fact for <br /> Holders of the Bonds as follows: <br /> (i) If and to the extent there is a deficiency in <br /> amounts required to pay interest on t~he Bonds, the Paying <br /> Agent shall (a) execute and deliver to Citibank, N .A., or its <br /> successors under the Policy (the "Insurance Paying Agent"), in <br /> form satisfactory to the Insurance Paying Agent, an instrument <br /> appointing MBIA as agent for such Holders in any legal <br /> proceeding related to the payment of such interest and an <br /> assignment to MBIA of the claims for interest to which such <br /> deficiency relates and which are paid by MBIA, (b) receive as <br /> designee of the respective Holders (and not as Paying Agent) <br /> in accordance with the tenor of the Policy payment from the <br /> Insurance Paying Agent with respect to the claims for interest <br /> so assigned, and (c) disburse the same to such respective <br /> Holders; and <br /> (ii) If and to the extent of a deficiency in amounts <br /> required to pay principal of the Bonds, the Paying Agent shall <br /> (a) execute and deliver to the Insurance Paying Agent in form <br /> satisfactory to the Insurance Paying Agent an instrument <br /> appointing MBIA as agent for such Holder in any legal <br /> proceeding relating to the payment of such principal and an <br /> assignment to MBIA of any of the Bonds surrendered to the <br /> Insurance Paying Agent of so much of the principal amount <br /> thereof as has not previously been paid or for which moneys <br /> are not held by the Paying Agent and available for such <br /> payment (but such assignment shall be delivered only if <br /> payment from the Insurance Paying Agent is received), <br />