14-20 Cedar Glen Bond Ordinance Addendums

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U.S. Treasury Cash Reserves (Fund 125); and Federated Treasury Obligations Fund(Fund 68); or, in the event those funds cease to exist or no longer have a rating of the highest category (without regard to gradation within a category) by the Rating Agency, (2) money market funds conforming to Rule 2a-7 of the Federal Investment Company Act of 1940, including any money market fund the investment advisor of which is the Trustee or an affiliate of the Trustee, (i) whose shares are registered under the Federal Securities Act of 1933 that invest solely in direct obligations issued by the U.S. Treasury and repurchase agreements backed by those obligations, (ii) which have a rating of the highest category (without regard to gradation within a category)by the Rating Agency and(iii) which are acceptable to the Rating Agency and the Underwriter. Investments of moneys in the Bond Fund, the Project Fund and the Assignment Fund will mature or be redeemable at the times and in the amounts, and will pay interest at the times and at the rates, necessary to provide moneys to pay Bond Service Charges on the Bonds as they become due. All investment earnings from the Special Funds will be credited to and become part of the Bond Fund and be used, without further direction,to payinterest on the Bonds on each Interest Payment Date. Ym Final Balances Except as provided in the Indenture, any amounts remaining in the Bond Fund, the Project Fund or the Assignment Fund(i) after all of the outstanding Bonds shall be deemed paid and discharged under the provisions of the Indenture, and (ii) after payment of any Rebate Amount, all fees, charges and expenses of the Trustee, the Registrar and any Paying Agents or Authenticating Agents, the Issuer and of all other amounts required to be paid under the Indenture, the Loan Agreement, the Regulatory a Project and the Note, shall be transferred to the Residual Fund and (x) used to pay Costs and (y)thereafter,paid to the Borrower. Events of Default Each of the following is an"event of default"under the Indenture: (a) Payment of any interest on any Bond is not made when and as that interest becomes due and payable; (b) Payment of the principal of any Bond is not made when and as that principal becomes due and payable,whether at stated maturity,upon acceleration or otherwise; (c) Failure by the Issuer to observe or perform any other covenant, agreement or obligation on its part to be observed or performed contained in the Indenture or in the Bonds, which failure has continued for a period of 30 days after written notice, by registered or certified mail, to the Issuer, the Borrower and the Investor Member specifying the failure and requiring that it be remedied, which notice may be given by the Trustee in its discretion and must be given by the Trustee at the written request of the Holders of not less than 25%in aggregate principal amount of Bonds then outstanding;and (d) The occurrence and continuance of an Event of Default as defined in the Loan Agreement. The term "default" or "failure" as used above means (i) a default or failure by the Issuer in the observance or performance of any of the covenants, agreements or obligations on its part to be observed or performed contained in the Indenture or in the Bonds, or(ii)a default or failure by the Borrower under - 16 -