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of the Code or taken into account in determining the limitation on amounts of <br /> obligations or loans which may be designated by the Issuer in 2012 as "Qualified <br /> Tax-Exempt Obligations" under Section 265(b)(3)(D)(i) of the Code. The portion <br /> of the Reregistered Series 2010 Bonds that constitute the Refunding (i.e., the R-3 <br /> bonds) are deemed designated as "Qualified Tax-Exempt Obligations" pursuant to <br /> Section 265(b)(3)(D)(ii) of the Code because (i) the amount of the portion of the <br /> Reregistered Series 2010 Bonds that constitute the Refunding does not exceed the <br /> outstanding amount of the portion of the Series 2010 Bonds it is currently <br /> refunding, (ii) the average maturity date of the portion of the Reregistered Series <br /> 2010 Bonds that constitute the Refunding is not later than the average maturity date <br /> of the Series 2010 Bonds to be currently refunded by the portion of the Reregistered <br /> Series 2010 Bonds that constitute the Refunding, and (iii) the portion of the <br /> Reregistered Series 2010 Bonds that constitute the Refunding have a maturity date <br /> which is not later than the date which is 30 years after the date the Series 2010 <br /> Bonds were originally issued. <br /> 4. All other terms and conditions of the Tax Exemption Agreement not hereby <br /> amended shall remain in full force and effect. This Amendment to Tax Exemption <br /> Agreement shall be appended to the Tax Exemption Agreement and become a part <br /> thereof. <br /> [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] <br /> 4 <br />