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BOND INSIJRANCE AT UNDERWRITER'S OPTION <br /> If the Bonds qualify for issuance of any policy of municipal bond insurance or commitment therefor at the <br /> option of the successful bidder, the purchase of any such insurance policy or the issuance of any such <br /> commitment shall be at the sole option and expense of the successful bidder of the Bonds. Any increase in <br /> the costs of issuance of the Bonds resulting from such purchase of insurance shall be paid by the <br /> successful bidder, except that, if the City has requested and received a rating on the Bonds from a rating <br /> agency, the City will pay that rating fee. Any other rating agency fees shall be the responsibility of the <br /> successful bidder. Failure of the municipal bond insurer to issue the policy after the Bonds have been <br /> awarded to the successful bidder shall not constitute cause for failure or refusal by the successful bidder <br /> to accept delivery on the Bonds. <br /> The City reserves the right to reject any and all Proposals, to waive informalities and to adjoum the sale. <br /> Dated: February 23, 2011 BY ORDER OF THE CENTERVILLE CITY COUNCIL <br /> /s/ Dallas Larson <br /> City Adxninistrator <br /> Additional information may be obtained from: <br /> Northland Securities, Inc. <br /> 45 South 7�' Street, Suite 2000 <br /> Minneapolis, Minnesota 55402 <br /> Telephone No.: 612-851-5900 <br /> i <br /> 76 <br />