86-93 AUTHORIZING THE EXECUTION AND DELIVERY OF A FIRST SUPPLEMENTAL TRUST INDENTURE IN CONNECTION WITH THE OUTSTANDING SINGLE FAMILY MORTGAGE REVENUE BONDS, 1979 SERIES A

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(d) A certified co of the ordinance authorizin the PY 9 execution and delivery of this First Supplemental Indenture. (e) The original executed copy of the Bond Insurance Policy has been delivered to Custodian and evidence that the Bond Insurer or its agent has received its initial Bond Insurance Premium due and payable on or before Policy Issu- ance. ( f) A written opinion, addressed to Trustee and Custo- dian and dated as of Policy Issuance, of an independent certified public accounting firm of independent certified public accountants ( i ) verifying that certain computer simu- lations submitted to it by Drexel Burnham Lambert Incorporated showing sufficient moneys to make timely payment of principal and interest on the Bonds are mathematically accurate and ( ii ) stating that the transac- tions contemplated by this First Supplemental Indenture will not materially adversely affect the security for the Bonds. Section 2 .02 . Performance of Covenants; Issuer . Issuer covenants that it will faithfully perform at all times any ', and all covenants and provisions contained in this First Supple- '� mental Indenture. Issuer also covenants that it is duly author- ized to execute this First Supplemental Indenture and to pledge the amounts hereby pledged in the manner and to the extent herein set forth and that all action on its part for the execution and delivery of this First Supplemental Indenture has been duly and effectively taken. Section 2 . 03 . Instruments of Further Assurance. Issuer agrees that Trustee, or the Custodian acting on behalf of the Trustee, may defend its rights to the payments and other amounts due under the Bond Insurance Policy for the benefit of the owners of the Bonds against the claims and demands of all persons whomsoever . Issuer covenants that it will do, execute, acknowledge and deliver, or cause to be done, executed, acknow- ledged and delivered, such bond indentures supplemental hereto and such further acts, instruments and transfers as Trustee, or the Custodian acting on behalf of the Trustee, may reasonably require for the better assuring, transferring, pledging, assign- ing and confirming unto Trustee, and to the Custodian acting on behalf of the Trustee, all and singular the rights assigned under this First Supplemental Indenture and the amounts pledged hereby to the payment of the principal of and interest on the Bonds . Issuer covenants and agrees that it will not sell, convey, assign, pledge, encumber or otherwise dispose of any part of the income, revenues and receipts payable under the Bond Insurance Policy or its rights thereunder . -9-