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SECTION 5. Reporting of Significant Events. <br />A. This Section 5 shall govern the giving of notices of the occurrence of any of the following events with <br />respect to the Bonds, if material: <br />principal and interest payment delinquency; <br />non - payment related defaults; <br />unscheduled draws on debt service reserves reflecting financial difficulties; <br />unscheduled draws on credit enhancements reflecting financial difficulties; <br />substitution of credit or Liquidity providers, or their failure to perform; <br />adverse tax opinions or events affecting the tax - exempt status of the security; <br />modifications to rights of security holders; <br />Bond calls; <br />defeasances; <br />release, substitution or sale of property securing repayment of the Bonds; and <br />rating changes. <br />B. Whenever an event listed in Section 5.A. above has occurred, the Issuer shall as soon as possible <br />determine if such event would constitute material information for Owners of Bonds. If lmowledge of the Occurrence <br />would be material, the Issuer shall promptly file a notice of such Occurrence with each National Repository or the <br />MSRB and with the State Depository, if any. <br />C. The Issuer agrees to provide or cause to be provided, in a timely manner, to each National Repository <br />or the MSRB and to the State Depository, if any, notice of a failure by the Issuer to provide the Annual Reports <br />described in Section 4. <br />SECTION 6. Termination of Reporting Obligation. The Issuer's obligations under this Disclosure <br />Undertaking shall terminate upon the legal defeasance, prior redemption or payment in full of all of the Bonds. <br />SECTION 7. Dissemination Agent. The Issuer may, from time to time, appoint or engage a Dissemination <br />Agent to assist it in carrying out its obligations under this Disclosure Undertaking, and may discharge any such Agent, <br />with or without appointing a successor Dissemination Agent. <br />SECTION 8. Amendment; Waiver. Notwithstanding any other provision of this Disclosure Undertaking, <br />the Issuer may amend this Disclosure Undertaking, and any provision of this Disclosure Undertaking may be waived, <br />if (a) a change in law or change in the ordinary business or operation of the Issuer has occurred, (b) such amendment <br />or waiver would not, in and of itself, cause the undertakings herein to violate the Rule if such amendment or waiver <br />had been effective on the date hereof but taking into account any subsequent change in or official interpretation of the <br />Rule, and (c) such amendment or waiver is supported by an opinion of counsel expert in federal securities laws to the <br />effect that such amendment or waiver would not materially impair the interests of Owners. <br />SECTION 9. Additional Information. Nothing in this Disclosure Undertaking shall be deemed to prevent <br />the Issuer from disseminating any other information, using the means of dissemination set forth in this Disclosure <br />Undertaking or any other means of communication, or including any other information in any Annual Report or notice <br />of an Occurrence, in addition to that which is required by this Disclosure Undertaking. If the Issuer chooses to include <br />any information in any Annual Report or notice of an Occurrence in addition to that which is specifically required by <br />this Disclosure Undertaking, the Issuer shall have no obligation under this Disclosure Undertaking to update such <br />information or include it in any future Annual Report or notice of an Occurrence. <br />D -4 <br />