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~?~t~k~_~. R~presentation as to Due Organization and <br />Existence Under Charter. The Agreement is hereby amended b~ <br />deleting the word "Oxnard" from Section 2.1(b) of the Agreement. <br /> <br /> Section 3. DePosit of Moneys. The Agreement is hereby <br />amended to substitute the sentence set forth below in full for <br />the first sentence of Section 3.1 of the Agreement: <br /> <br /> SECTION 3.1. DePosit of MoneYs. On the Closing Date, <br />the Authority agrees to direct the Trustee to deposit the <br />proceeds of the Bonds as follows: (1) an amount equal to <br />$12,000,000.00 shall be deposited in the Claims Payment <br />Fund, (2) an amount equal to $426,994.25 shall be deposited <br />in the Costs of Issuance Fund, (3) an amount equal to <br />$1,505,500.00 shall be deposited in the Debt Service <br />Reserve Fund and (4) an amount equal to $906,343.13 shall <br />be deposited in the Principal and Interest Fund. <br /> <br /> Section 4. Term of Aareement. This Agreement is hereby <br />amended to substitute the paragraph set forth below in full for <br />the first paragraph of Section 4.1 of the Agreement: <br /> <br /> The Term of this Agreement shall commence on the date <br />of its execution and shall, subject to the following <br />paragraph, end on June 30, 2009, unless the Indenture shall <br />not have been discharged by its terms by such date, in <br />which case the term of this agreement shall be extended <br />until the Indenture shall be discharged by its term, unless <br />terminated prior thereto in accordance with the following <br />paragraph. <br /> <br /> The Agreement is hereby amended to substitute the clause <br />set forth below in full for Section 4.1(a) of the Agreement: <br /> <br /> (a) upon termination of this Agreement by the payment <br />by such Participant of all of its Basic Premium payments <br />specified in Exhibit A hereto, its Supplemental Basic <br />Premium, Administrative Premium and of all Pure Premium <br />required to be paid by such Participant pursuant to <br />Section 4.4 hereof; <br /> <br /> Section 5. Budaet and Appropriation of Premium Payments. <br />The Agreement is hereby amended to substitute the sentence set <br />forth below in full for the first sentence of Section 4.2 of <br />the Agreement. <br /> <br />The Authority covenants to calculate and mail notice, no <br />later than April 15 of each year, to each Participant of <br />the amount of Total Premium to be payable by such <br />Participant on the following Basic Premium Payment Date <br /> <br />2 <br /> <br /> <br />