R99-187 AUTHORIZING THE ISSUANCE AND SALE OF ECONOMIC DEVELOPMENT REVENUE BONDS

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(E) the Company deposits, including at the request of the Assignee and with a supporting opinion of Bond Counsel, with the Assignee and the Issuer a certificate to the effect that an Event of Taxability has occuned or will occur and setting forth the date on which such Event of Taxability occurred, or will occur; or (F) any other event has occurred or other circumstances exist; and (ii) as a consequence of any of the circumstances set forth in clauses (A) through (F) above, Bond Counsel shall have advised any Bondholder in writing either that interest on any Bond is currently includable in gross income for Federal income t� purposes, other than as a result of the imposition of any alternative minimum t�, or that Bond Counsel cannot give its opinion, without materially qualifying the same, to the effect that interest on any Bond is currently excludable from gross income for Federal income tax purposes. (iii) A Determination of Taxability will be deemed not to have occurred as the result of the issuance of a proposed deficiency letter described in (i)(C) above if the Company makes written application for a private letter ruling or technical advice from the IRS, which ruling or advice states that the interest payable on the Bonds is not includable in the gross income of any Bondholder as a result of the facts and circumstances recited in such statutory notice of deficiency, and the Company furnishes the Assignee and the Issuer with a copy of such written application, and the Company has obtained and delivered to the Assignee a copy of such private letter ruling or technical advice from the IRS acceptable to the Assignee and the Issuer, within one hundred eighty (180) days following the date of the statutory notice of deficiency, or if the Company is contesting such statutory notice of deficiency in good faith and any applicable appeal period has not expired. "Effective Date of Taxability" means the date set forth in an opinion of Bond Counsel as described in Section 2.3 (a) (iii) hereof. "Event of Default" means any Event of Default as defined in Section 8.1 hereof. "Event of Taxability" means the occurrence of any circumstances which result in the interest payable on the Bonds becoming includable in the gross income of any holder of the Bonds for Federal income tax purposes, other than as a result of the imposition of any alternative minimum t�. "Fiscal Year" means any period of twelve (12) consecutive months adopted by the Company as its fiscal year for financial reporting purposes and initially means the period beginning on September 1 of each year and ending on August 30 of such year. "Full Insurable Value" means the actual replacement cost of the Project without deduction for physical depreciation and exclusive of land, excavations, footings, foundations and parking lots. 9