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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gate principal amount of the Bonds outstanding on such July 1, after taking into account any redemptions or scheduled maturities on such date. "Bond Insurer" means Financial Guaranty Insurance Company, a New York stock insurance company, and any successor thereto. "Capital Reserve Fund" means the fund by that name created pursuant to Section 5.02 of the Original Indenture. "Capital Reserve Requirement" means an amount equal to $ "Governmental Obligations" means any of the following which at the time of investment are legal investments under the laws of the State for the moneys proposed to be invested therein: ( i) direct obligations of the United States of America and securities fully and unconditionally guaranteed as to the timely payment of principal and interest by the United States of America; ( ii ) direct obligations and fully guaranteed certifi- cates of beneficial interest of the Export-Import Bank of the United States; senior debt obligations of the Federal Home Loan Banks; debentures of the Federal Housing Administration; guaran- teed mortgage-backed bonds and guaranteed pass-through obliga- tions of the Government National Mortgage Corporation; guaranteed Title XI financing of the U.S. Maritime Administration; mortgage- backed securities and senior debt obligations of the Federal National Mortgage Association; and participation certificates and senior debt obligations of the Federal Home Loan Mortgage Corpo- ration; or ( iii ) direct obligations of any state of the United States of America or any subdivision or agency thereof whose unsecured general obligation debt is rated "A3" or better by Moody' s Investors Service, Inc. and "A" or better by Standard & Poor 's Corporation, or any obligation fully and unconditionally guaranteed by any state, subdivision or agency whose unsecured general obligation debt is rated "A3" or better by Moody' s Inves- tors Service, Inc. and "A-" or better by Standard & Poor 's Corpo- ration; "Mortgage Reserve Fund" means the fund by that name created pursuant to Section 5.02 of the Original Indenture. "Mortgage Reserve Requirement" means an initial amount egual to $ and on each semiannual Bond interest payment date thereafter an amount equal to 2� of the outstanding prin- cipal amount of the Mortgage Loans on such date of calculation. "Notice Address" means as to the Bond Insurer , 175 Water Street, New York, New York 10038, Attention: President . -5-