14-20 Cedar Glen Bond Ordinance Addendums

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If such certificate shall state that there is a claim or claims in controversy which create or might ripen into a lien, there shall be filed with the Issuer and the Bondholders a certificate of the Borrower when and as such claim or claims shall have been fully paid. If, after payment by MBI of all orders theretofore tendered to MBI under the provisions of subparagraph (a) of this Section 4.3 and after receipt of the statement mentioned in subparagraph (b)(i) and(ii) of this Section 4.3,there shall remain any balance of moneys in the Construction Fund, MBI shall transfer all moneys then in the Construction Fund (except any disputed claims described in the completion certificate required in Section 4.3(b)hereof)to the Bond Fund. MBI, as directed in writing by the Issuer at the request of the Borrower, shall use any amount transferred to the Bond Fund to prepay the Note and thereby redeem all or a portion of the Bonds,at the earliest redemption date. Section 4.4 Rebate Fund. Any provision hereof to the contrary notwithstanding, amounts credited to the Rebate Fund shall be free and clear of any lien hereunder. • Within five days after each Computation Date, the Borrower, or an Independent accounting firm or other firm knowledgeable with regard to the computation of the Rebate Amount engaged by the Borrower, shall calculate the Rebate Amount as of that Computation Date and provide the results of such calculations to the Issuer and MBI. If the amount then on deposit in the account in the Rebate Fund is in excess of the Rebate Amount, MBI shall forthwith pay that excess amount to the Borrower. If the amount then on deposit in the applicable account in the Rebate Fund is less than the Rebate Amount, the Borrower shall, within five days after receipt of the aforesaid notice from MBI, pay to MBI for deposit in the Rebate Fund an amount sufficient to cause the applicable account to contain an amount equal to the Rebate Amount. Within 30 days after the initial Computation Date, and every Computation Date thereafter, upon written direction from the Borrower, MBI, acting on behalf of the Issuer, shall pay to the United States in accordance with Section 148(f) of the Code from the moneys then on deposit in the Rebate Fund an amount equal to 90% (or such greater percentage not in excess of 100%as the Borrower may direct MBI to pay) of the Rebate Amount as of such Computation Date. Within 60 days after the payment in full of all outstanding Bonds, upon written direction from the Borrower, MBI shall pay to the United States in accordance with Section 148(f) of the Code from the moneys then on deposit in the Rebate Fund an amount equal to 100% of the Rebate Amount as of such final Computation Date and any moneys remaining in the Rebate Fund following such payment shall be paid to the Borrower as described herein. The Issuer and MBI shall be entitled to rely on the calculations made pursuant to this Section and shall not be responsible for any loss or damage resulting from any action taken or omitted to be taken in reliance upon those calculations. MBI shall keep such records of the computations made and provided by the Borrower pursuant to this Section as are required under Section 148(f)of the Code. MBI shall keep and make available to the Borrower such records concerning the investments of the gross proceeds of the Bonds and the investments of earnings from those investments as may be requested by the Borrower in order to enable the Borrower to make the aforesaid computations as are required under Section 148(f)of the Code. Notwithstanding the foregoing, the computations and payments of Rebate Amounts referred to in this Section and Section 3.8 of this Agreement need not be made to the extent that neither the Issuer nor the Borrower will thereby fail to comply with any requirements of Section 148(f)of the Code based on an Opinion of Bond Counsel. Page 21