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12 <br /> <br />continuing disclosure under paragraph (d)(2) of Securities and Exchange Commission Rules, <br />Section 15c2-12 (the SEC Rule), the City makes the following factual statement and <br />representation: As of the date of delivery of the Bonds, the City will not be an obligated person <br />(as defined in paragraph (f) of the SEC Rule) with respect to more than $10,000,000 in aggregate <br />amount of outstanding municipal securities, including the Bonds and excluding municipal <br />securities that were exempt from the SEC Rule pursuant to paragraph (d)(1) thereof. <br /> <br /> 8.02. City Compliance with Provisions of Continuing Disclosure Certificate. The City <br />hereby covenants and agrees that it will comply with and carry out all of the provisions of the <br />Continuing Disclosure Certificate. “Continuing Disclosure Certificate” means that certain <br />Continuing Disclosure Certificate executed by the Mayor and City Administrator and dated the <br />date of issuance and delivery of the Bonds, as originally executed and as it may be amended <br />from time to time in accordance with the terms thereof. Notwithstanding any other provision of <br />this resolution, failure of the City to comply with the Continuing Disclosure Certificate is not to <br />be considered an event of default with respect to the Bonds; however, any Bondholder may take <br />such actions as may be necessary and appropriate, including seeking mandate or specific <br />performance by court order, to cause the City to comply with its obligations under this section. <br /> <br /> Section 9. Defeasance. When all Bonds and all interest thereon have been discharged <br />as provided in this section, all pledges, covenants and other rights granted by this resolution to the <br />holders of the Bonds will cease, except that the pledge of the full faith and credit of the City for the <br />prompt and full payment of the principal of and interest on the Bonds will remain in full force and <br />effect. The City may discharge all Bonds which are due on any date by depositing with the <br />Registrar on or before that date a sum sufficient for the payment thereof in full. If any Bond should <br />not be paid when due, it may nevertheless be discharged by depositing with the Registrar a sum <br />sufficient for the payment thereof in full with interest accrued to the date of such deposit. <br /> <br /> <br /> <br />(The remainder of this page is intentionally left blank.)