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<br />APPENDIX A
<br />
<br />FEES
<br />
<br />The Obligations to be initially covered under this contract are:
<br />
<br />Closing Annual
<br />Date Description Fee
<br />10/30/86 $16,355,000 Electric System Revenue Bonds, Series 1986 $2,000
<br />01126/87 $1,400,000 Certificates of Obligation, Series 1987 $1,500
<br />04/29/87 $6,680,000 Tax & Revenue Refunding Bonds, Series 1987 $1,500
<br />09/14/87 $500,000 General Obligation Bonds, Series 1987 $1,500
<br />09/14/87 $200,000 Certificates of Obligation, Series 1987 $1,500
<br />09/14/87 $1,170,000 WW&SS Revenue Bonds, Series 1987 $2,000
<br />03/30/88 $1,660,000 General Obligation Bonds, Series 1988 $1,500
<br />03/30/88 $1,340,000 Certificates of Obligation, Series 1988 $1,500
<br />03/30/88 $1,320,000 WW&SS Revenue Bonds, Series 1988 $2,000
<br />01112/89 $2,660,000 WW&SS Revenue Bonds, Series 1988-A $2,000
<br />06/18/91 $3,595,000 General Obligation Bonds, Series 1991 $1,500
<br />06/18/91 $850,000 WW&SS Revenue Bonds, Series 1991 $2,000
<br />
<br />The fees for the above-captioned Obligations will only be payable if a computation is required
<br />under Section 148(t)(2) of the Internal Revenue Code of 1986, as amended. In the event that
<br />any of the above-captioned Obligations, or any other Obligations added subsequent to the date
<br />of this Agreement, comply with an exclusion to the computation requirement as defined by
<br />Section 148 of the Internal Revenue Code or related regulations, the specified fee will be waived
<br />by First Southwest Company.
<br />
<br />For example, certain obligations are excluded from the rebate computation requirement if the
<br />proceeds are spent within specific time periods or if less than a certain amount is issued during
<br />a calendar year. In the event one of the above-captioned Obligations fulfill the exclusion
<br />requirements of the Internal ReVenue Code or related regulations, the specified fee will be
<br />waived by First Southwest Company.
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