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• Notwithstanding the foregoing paragraph, if the audited financial statements are <br /> not available by the date specified, the City shall provide on or before such date unaudited <br /> financial statements in the format required for the audited financial statements as part of the <br /> Disclosure Information and, within 10 days after the receipt thereof, the City shall provide the <br /> audited financial statements. <br /> Any or all of the Disclosure Information may be incorporated by reference, if it is <br /> updated as required hereby, from other documents, including official statements,which have <br /> been submitted to each of the repositories hereinafter referred to under subsection(b) or the SEC. <br /> If the document incorporated by reference is a final official statement, it must be available from <br /> the Municipal Securities Rulemaking Board. The City shall clearly identify in the Disclosure <br /> Information each document so incorporated by reference. <br /> If any part of the Disclosure Information can no longer be generated because the <br /> operations of the City have materially changed or been discontinued, such Disclosure <br /> Information need no longer be provided if the City includes in the Disclosure Information a <br /> statement to such effect; provided, however, if such operations have been replaced by other City <br /> operations in respect of which data is not included in the Disclosure Information and the City <br /> determines that certain specified data regarding such replacement operations would be a Material <br /> Fact (as defined in paragraph(2)hereof), then, from and after such determination, the Disclosure <br /> Information shall include such additional specified data regarding the replacement operations. <br /> • If the Disclosure Information is changed or this Section 7 is amended as permitted <br /> by this paragraph (b)(1) or subsection (d), then the City shall include in the next Disclosure <br /> Information to be delivered hereunder, to the extent necessary, an explanation of the reasons for <br /> the amendment and the effect of any change in the type of financial information or operating data <br /> provided. <br /> (2) In a timely manner, notice of the occurrence of any of the following events <br /> which is a Material Fact(as hereinafter defined): <br /> (A) Principal and interest payment delinquencies; <br /> (B) Non-payment related defaults; <br /> (C) Unscheduled draws on debt service reserves reflecting financial <br /> difficulties; <br /> (D) Unscheduled draws on credit enhancements reflecting financial <br /> difficulties; <br /> (E) Substitution of credit or liquidity providers, or their failure to perform; <br /> (F) Adverse tax opinions or events affecting the tax-exempt status of the <br /> security; <br /> (G) Modifications to rights of security holders; <br /> (H) Bond calls; <br /> (I) Defeasances; <br /> • (J) Release, substitution, or sale of property securing repayment of the <br /> securities; and <br /> -20- <br />