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the Bondholders as if there were no Municipal Bond <br />Insurance Policy. <br />Notwithstanding any other provision of this <br />Resolution, no removal, resignation or termination of the <br />Paying Agent shall take effect until a successor, <br />acceptable to AMBAC Indemnity, shall be appointed. <br />(h) Interested Parties. To the extent that this <br />Resolution confers upon or gives or grants to AMBAC <br />Indemnity any right, remedy or claim under or by reason <br />of this Resolution, AMBAC Indemnity is hereby explicitly <br />recognized as being a third -party beneficiary hereunder <br />and may enforce any such right remedy or claim conferred, <br />given or granted hereunder. <br />Nothing in this Resolution expressed or implied is <br />intended or shall be construed to confer upon, or to give <br />or grant to, any person or entity, other than the City, <br />the Commission, AMBAC Indemnity, the Paying Agent and the <br />registered owners of the Bonds, any right, remedy or <br />claim under or by reason of this Resolution or any <br />covenant, condition or stipulation hereof, and all <br />covenants, stipulations, promises and agreements in this <br />Resolution contained by and on behalf of the Commission <br />or the City shall be for the sole and exclusive benefit <br />of the City, the Commission, AMBAC Indemnity, the Paying <br />Agent and the registered owners of the Bonds. <br />Section 4. Exhibit C of said Resolutions is amended to <br />read in its entirety in the form of the Exhibit C attached hereto. <br />Adopted at a regular meeting of the Commission held on the <br />21st day of August, 1992. <br />SOUTH B D REDEVELOPMENT COMMISSION <br />By : �� l/v <br />A X T: ' President <br />Secretary <br />-11- <br />