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' 1 � <br /> to time by exclusive action of any Issuer in the event that volume cap is received by a <br /> Municipality after the date hereof, hereby allocates such volume cap to the issuance of the <br /> Bonds. <br /> Section 3. Allocation of Program Allocation. The origination and servicing agreement <br /> or agreements and the trust indenture or indentures relating to the issuance of the Bonds shall <br /> provide, that from the date of issuance of the Bonds through a date 120 days after the date of <br /> issuance of such Bonds (the "Reservation Period"), the proceeds of the Bonds shall be made <br /> available to each Municipality which is not a home rule unit of government in the amounts set <br /> forth in ExhibitA attached hereto and made a part hereof, as such Exhibit A may be <br /> supplemented from time to time (the "Program Allocation"), subject to the requirements of <br /> Section 143 of the Code. There shall be no Reservation Period for Municipalities which are <br /> home rule units of government. The Program Allocation allocated to a Municipality may not be <br /> reallocated during the Reservation Period; provided, that, after the Reservation Period, the <br /> trustee with respect to the Bonds may reallocate the Program Allocation in the manner set forth <br /> in the origination and servicing agreement or agreements or the trust indenture or indentures <br /> relating to the Bonds. <br /> Section 4. Pledge of Collateral. The Issuers hereby agree to assign and pledge to the <br /> trustee with respect to the Bonds all of the GNMA Securities, the Fannie Mae Securities and the <br /> FHLMC Securities purchased with the proceeds of the Bonds. The Issuers hereby further agree <br /> to assign and pledge to such trustee all other such documents, instruments, securities and moneys <br /> as shall be approved by ordinances of the respective governing bodies of the Issuers. <br /> Section 5. Documents and Instruments. The Issuers hereby agree to enter into all such <br /> documents and instruments as shall be necessary or appropriate in connection with the issuance <br /> of the Bonds, including without limitation origination and servicing agreements, trust indentures, <br /> bond purchase contracts or agreements, official statements, continuing disclosure undertakings <br /> and closing certificates. The Issuers hereby further agree to enter into all such other documents <br /> and instruments as shall be necessary or appropriate in connection with the issuance of the <br /> Bonds, including without limitation closing certificates. <br /> Section 6. Absolute and Irrevocable Conditions; Amendment. All terms and <br /> conditions contained herein are intended to be absalute and irrevocable conditions hereof and are <br /> agreed to by the Municipalities. This Cooperation Agreement may not be effectively amended, <br /> changed, modified, altered or terminated without the written consent of all of the Municipalities, <br /> authorized by ordinances adopted by their respective governing bodies, certified copies of which <br /> shall be filed with the other Municipalities. <br /> Section 7. Municipalities' Obligations Unconditional. The Municipalities shall have <br /> no right to terminate, cancel or rescind this Cooperation Agreement, it being the intent hereof <br /> that the Municipalities shall be absolutely and unconditionally obligated to perform all covenants <br /> contained in this Cooperation Agreement. <br /> Section 8. Notices. All notices, certi�cates or other communications hereunder shall <br /> be sufficiently given and shall be deemed given when delivered or mailed by registered or <br /> -7- <br />