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provisions of subsection (e) of Section 6.1 of the Agreement pertaining to the date by which the Authority's Governing Board shall have approved the admissi6n of West Covina as a Participant and (ii) agrees that, notwithstanding such subsection (e), such approval by the Authority's Governing Board may instead be provided on any date on or prior to the Effective Date. 3. Selected Premium Payments Payable by West Covina. In connection with its admission as a new participant, West Covina shall be liable for the payment of 8.61% of the total Administrative Premium and 8.61% of the total Pure Premium payable on the Basic Premium Payment Date with respect to fiscal year 2003-04. West Covina shall be liable for the payment of a portion of the total Administrative Premium and the total Pure Premium in future fiscal years, and shall be assessed, credited, or refunded Pure Premium Adjustments, in accordance with and as provided in the Agreement or other procedures or policies of the Authority. West Covina and each of the other Participants shall be deemed to have an Allocable Proportion for purposes of determining amounts to be allocated or distributed pursuant to Article V of the Agreement. Each Participant's (including West Covina's) Allocable Proportion for such purposes shall be the average of the Pure Premium Proportion determined by the Actuary for each Participant for each Coverage Period that such Participant received Coverage under the Agreement. follows: Notices. Section 12.1 of the Agreement is hereby amended in its entirety to read as Notices. All approvals, authorizations, consents, demands, designations, notices, offers, requests, statements, or other communications hereunder (each, a "Notice") from any party hereto to any other party shall be in writing and shall be deemed sufficiently given and served upon the other party, if delivered via hand delivery, as of the date and time of receipt of such delivery, or, if mailed, three days after deposit in the United States mail as first-class mail, postage prepaid, at the addresses set forth in Exhibit I hereto. Each party, by Notice given hereunder, may designate an address to which subsequent Notices shall be sent. 5. Effective Date of this Third Amendment. Notwithstanding the first sentence of the penultimate paragraph of Section 9.3 of the Agreement, this Third Amendment shall become effective immediately at~er the last to occur of the following (the "Effective Date"): (i) each of Huntington Beach, Oxnard, San Bemardino, Santa Ana, and West Covina, and all members of the Governing Board of the Authority have approved and consented to the form and execution of this Third Amendment, (ii) this Third Amendment has been executed and delivered by all of the parties hereto, (iii) counsel for each of Huntington Beach, Oxnard, San Bemardino, Santa gna, and West Covina has delivered an opinion substantially in the form of Appendix I attached hereto, (iv) counsel for the Authority has delivered an opinion substantially in the form of Appendix II attached hereto, (v) all of the conditions set forth in Section 6.1 of the Agreement, as amended or waived, as applicable, by this Third Amendment, have been satisfied; (vi) Bond Counsel has delivered an opinion in form and substance as required under Section 9.3 of the Agreement, (vii) an Actuary has delivered a certificate in form and substance as required under Section 9.3 of the Agreement, and (viii) West Covina shall have become a member of the Authority. Third Amendment to LRCA.DOC 3