14-20 Cedar Glen Bond Ordinance Addendums

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Investment of Funds Except as otherwise set forth below, money in the Special Funds and the Rebate Fund is to be invested and reinvested by the Trustee in Eligible Investments at the oral or written direction (promptly confirmed in writing, if oral) of the Borrower. At no time is the Borrower to direct that any funds constituting gross proceeds of the Bonds be used in any manner as would constitute failure of compliance with Section 148 of the Code. Investments of moneys in the Bond Fund, the Project Fund and the Assignment Fund are to mature or be redeemable at the times and in the amounts, and are to pay interest at the times and at the rates, necessary to provide money to pay Project costs or to pay Bond Service Charges on the Bonds, as the case may be, as they become due. The amount deposited at closing into the Bond Fund will be invested in Eligible Investments that have a maturity date(or are redeemable at par) not later than the date when such funds are needed to pay Bond Service Charges on the Bonds. Amounts on deposit in the Project Fund on the Closing Date will be invested in Eligible Investments. Investment earnings from the Eligible Investments shall be invested in Eligible Investments that have a maturity date(or are redeemable at par)not later than the date when such funds are needed to pay Bond Service Charges on the Bonds. The amounts invested in Eligible Investments shall be invested at fair market value at a yield less than the yield on the Bonds. "Eligible Investments"means any of the following investments, to the extent permitted under the Act and other applicable law, that mature(or are redeemable at the option of the Trustee) at such time or times as to enable disbursements to be made from the fund in which such investment is held in accordance with the applicable terms: (a) Direct obligations of the United States of America or obligations the full and prompt payment of which is secured by the pledge of the full faith and credit of the United States of America, provided that the obligation has an interest accrual period and interest payment dates that provide for timely payments in amounts sufficient to meet the payment obligations under the Indenture; (b) Non-callable, non-prepayable obligations of the following federal government agencies: Federal Home Loan Bank, Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Tennessee Valley Authority, Farm Credit System, Washington Metropolitan Area Transit Authority, United States Import-Export Bank, United States Department of Housing and Urban Development, Farmers Home Administration, General Services Administration and United States Maritime Administration, provided the entity maintains a rating of"Aaa" from the Rating Agency and provided, further,that the obligation has an interest accrual period and interest payment dates that provide for timely payments in amounts sufficient to meet the payment obligations under the Indenture; (c) Obligations of any state or any political subdivision of any state, which are rated in the highest category for long-term debt by the Rating Agency, the interest on which is excluded from gross income for federal income tax purposes and the full and timely payment of the principal of and any premium and the interest on which is fully and unconditionally payable from obligations of the character described in (a) or (b) above, provided that the obligation has an interest accrual period and interest payment dates that provide for timely payments in amounts sufficient to meet the payment obligations under the Indenture; and (d) (1) the following money market funds, so long as they invest solely in direct obligations issued by the U.S. Treasury or repurchase agreements backed by those obligations: First American U.S. Treasury Money Market Fund; Wells Fargo Advantage 100% Treasury Money Market Funds; Federated - 15 -