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<br />Election to Pay Penalty in Lieu of Rebate <br /> <br />8. The services contracted for under this Agreement will automatically extend <br />to any additional financing obligations issued during the stated term of this Agreement, <br />if an election was made (prior to delivery of the Obligations) to pay penalty in lieu of <br />rebate for a qualified construction bond issue under Section 148(t)(2) of the Code. In <br />connection with extending the scope of this Agreement to include computations of <br />penalty, the Issuer agrees to the following: <br /> <br />a. The Issuer will notify First Southwest Company of any financing <br />obligations issued by the Issuer during any calendar year of this Agreement for <br />which a penalty election was made. The Issuer will provide First Southwest <br />Company with such information regarding the investment and expenditure of such <br />obligations as First Southwest Company deems necessary in connection with its <br />performance of the penalty calculation services contracted for hereunder. <br /> <br />b. At the option of the Issuer, any additional financing obligations <br />issued subsequent to the execution of this Agreement may be excluded from the <br />services provided for herein. The Issuer must notify First Southwest Company <br />in writing of their intent to exclude any specific financing obligations from the <br />scope of this Agreement. <br /> <br />Effective Dates of Agreement <br /> <br />9. This Agreement shall become effective at the date of acceptance by the <br />Issuer as set out herein below and remain in effect thereafter for a period of five (5) <br />years from the date of acceptance, provided, however, that this Agreement may be <br />terminated with or without cause by the Issuer or First Southwest Company upon thirty <br />(30) days' written notice. In the event of such termination, it is understood and agreed <br />that only the amounts due to First Southwest Company for services provided and <br />expenses incurred to and including the date of termination will be due and payable. No <br />penalty will be assessed for termination of this Agreement. In the event this Agreement <br />is terminated prior to its stated term, all records provided to First Southwest Company <br />with respect to the investment of monies by the Issuer shall be returned to the Issuer as <br />soon as practicable. In addition, the parties hereto agree that upon termination of this <br />Agreement First Southwest Company shall have no continuing obligation to the Issuer <br />regarding any service contemplated herein. <br /> <br />4 <br />