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before such date unaudited financial statements in the format required for the <br /> audited financial statements as part of the Disclosure Information and, within 10 <br /> days after the receipt thereof,the City shall provide the audited financial <br /> statements. <br /> Any or all of the Disclosure Information may be incorporated by <br /> reference, if it is updated as required hereby, from other documents, including <br /> official statements, which have been submitted to each of the repositories <br /> hereinafter referred to under subsection(b) or the SEC. If the document <br /> 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 <br /> Disclosure Information each document so incorporated by reference. <br /> If any part of the Disclosure Information can no longer be generated <br /> because the operations of the City have materially changed or been discontinued, <br /> such Disclosure Information need no longer be provided if the City includes in the <br /> Disclosure Information a statement to such effect; provided, however, if such <br /> operations have been replaced by other City operations in respect of which data is <br /> not included in the Disclosure Information and the City determines that certain <br /> specified data regarding such replacement operations would be a Material Fact (as <br /> defined in paragraph(2) hereof),then, from and after such determination,the <br /> Disclosure Information shall include such additional specified data regarding the <br /> replacement operations. <br /> • If the Disclosure Information is changed or this Section 8 is amended as <br /> permitted by this paragraph(b)(1) or subsection (d),then the City shall include in <br /> the next Disclosure Information to be delivered hereunder,to the extent <br /> necessary, an explanation of the reasons for the amendment and the effect of any <br /> change in the type of financial information or operating data 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 <br /> perform; <br /> (F) Adverse tax opinions or events affecting the tax-exempt status of <br /> the security; <br /> (G) Modifications to rights of security holders; <br /> (H) Bond calls; <br /> • (I) Defeasances; <br /> -17- <br />