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LETTER OF CREDIT DEPARTMENT 107 BARCLAY ST: Blh FLOOR. EAST NEW YOLK, N.Y 1028&1238 _ 2 _. ~UF, l_ET~T ER DF CRECIT SOOO16rZ2c TIME WARNF_R ENTERTAINME.NI CD '...~ SUC'- AMOUNT IS DVE r?tJD OWING TO THF_ CITY, ~-tt.li: _. THE LICENSEE HAS FRII_r'C TD ^rAY BE'VQND T1-IE GRACE PERT^D AS SP~'TC IFIEC IN THE AGREEMENT," 1"F I5 A (.ONDITIDN DF THIS LETTER DF CREDI I' THAT IT SHALL Itl=. ^EEMED AUTOMATICAi_Ll' EX7EJDED WITHOUT WRITTEN AMENDMENT FOk ON~7_: !ll YEAR FROM THE PRESF_NT OR ANY LUTURE EXPIRY DATE IJNLrSfi A. LEAST THIRTY (3OJ DAYS PRIOR TO SUCH EX.PIRA?ION i.iATE, WE NOT]:F`r vOIJ IN WRITING AT THI ABOVE ADDRES'S BV P,EGTSTERED MAIL. OR B'r !:OURIER SERL'ICE THAT WE El_ECT NCT TO RENEW THZS LETTER OF CREDIT I'OR AN'ti SUCH ADDI1":;TONAL PERIDD(5). AP~TF_R YOUR Rf_"CFIPT OF Sit~::H WRITTEN NOTICE OF NOhJ-RENEWAL FROM US BUT ^N OR BEFORE THE THEN CVRREN' EXPi RATIO( DATE HEREOF YDU MAV DRAW VF TG THE F~~rLJ_ REMAINING BALANCE OF THIS LETTER DF CREDIT EY PRESE_tJTATIi7N OF THE FOLLOWING DOCUMENTS: A. THE: OP.I CiINAL STANDBY 1_F_TTER OF- CREDIT, B. DRAFT pN US AT SIGHT, AND C, A LET'(ER PUF.FDRTEULY --IGhJF_D Br AiVY OFFICIAL DF THE CITY OF SANTA r?NA READIiJG A5 FOLLOWS: "WE ARE IN RECEIPT OF WRITTEN NO"FICE FROM THE BANK GF NEW YORI< OF ITS ELECTION NOT TO RENEW .i TS LETTER OF CREDIT iVC. SGOOY6226 FOR AN ADDITIONAL TERM DF DNE VEAR, AND AS OF THE LATE 'F THIS DRAWIIVG WE HAVE NOT RECE:IVEP AN ACCEPTABLE REFI_ACEIaF_:NT LETTER OF CREDIT FROM THE APPLICANT AND TIME WARtJF_R NY CABLE. L~_C CONTTNU,~S TO BE OBL.ZGATED TD VS UNDER THE 'F'RANCHISE AGREEMENT'." IN ANV EVENT, THIS LETTER OF CREDIT SHALL tJOT Ff E! EX?ENDED BEYOND ITS FINAL EXPIRATION DATE OF ,JULY 31. %=.Ot :. .. THIS LETTER OF CREDI?~ SETS FORTH IN FULL THE TERMS OF OUR !.iNDERI"BRING 'i0 YOV, BUT NOT ANV DF i]UR RIGHTS (WHETHE=R uNDEi 14 APPLICABLE LAW OR OTHERWISE7. OUR UNDERTAKING TD YOU, BUT ^;0?" ANY OF DUR RIGHTS (WHETHER UNDER APPLiCA'd l_E LAW OR D?HERWISiE). iHALL IJOT IN ANYWAY FE MODIFIEC, AMENDED, AMFLIF'TED BY REFSRENi: F: T1J AIVV DOCUMENT, INSTRUMENT OR AGREEMENT Ri=FI:BRED TO IN THi: LETTEP. OF C'REDiT OR TO WHh"". F! THIS LETTER OF CREDIT RELATER, Al~ifl ANY SUCH REFERF_-NCE SHAI_.1_ hiOT BE DEEMED TD INC OR P(J(JRATE SN THIS i_ETTER ^F CREDIT, E+Y REFERENCE OR GTHEP.WISE, ANV SUCH DOCUi~tEPdT, TN5'?RtiMEfJT C= .',i,RE'i,:MEn~; . ~RAF'S ~:'tUST BE DRAWN AND PRi SCNTEU ~O US AT OUR Ci. rICE U riT-ED r F iC~i dARCLRY STRF_ET, NEW fC'RK, NF_W YORK LJ2B6 Ai fN: MRN('iER, '~"ANDHV LETTER OF CREDIT DEPT . FLOOR S Er 1T, NOT CA RL It_.R r1r+'J T1E DATE THI5 LETTER OF CREDIT BECOMES CPt-..RATIVF AS HERE IN1-~F~T E'R STATED, BUT IN AtJY EVENT, NOT Lr'1TER THAN JULY 31, ?G(}7, DR AhiY ~ AUTOMATICALLY EXTENDED DATE THROUGH JULY 31, 2011, AS PP.OVIDE.C 4-'OR HE :EIN. CRAFlS HEREUNDER MUST BE MARKEG; "DRAWN UND'r.R ?'HE RANK ,~F IV~~IJ '%ORk IRREVOCABLE LETTER OF CREDIT NO. SOOO16226." ~! R!(7TWITHSTANDING ANYTHING 7"O THE CONTRARY C'7N"PAINED HER_iiV, rA) E8+ T~:N DCT-(;60605--905=.300 BMSL. PSN 1811 ~ ;39i:21'~,t-_, 'e r.~~ p I k~ 3 } ~ rr S, r z P - _ '.