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OFFICIAL STATEMENT CONTINUING DISCLOSURE UNDERTAKING: BANKQUALIFIED TAX-EXEMPT OBLIGATIONS: BOND INSURANCE AT PURCHASER'S OPTION: SJB-243431vl CEI55-22 l__ The Official Statement, when further supplemented by an addendum or addenda specifYing the maturity dates, principal amounts and interest rates of the Bonds, together with any other information required by law, shall constitute a "Final Official Statement" of the City with respect to the Bonds, as that term is defmed in Rule 15c2-12. By awarding the Bonds to any underwriter or underwriting syndicate submitting a proposal therefor, the City agrees that, no more than seven business days after the date of such award, it shall provide without cost to the senior managing underwriter of the syndicate to which the Bonds are awarded copies of the Official Statement and the addendum or addenda. This Issue will be exempt from any reporting requirement. The Issuer will designate the bonds as qualified tax exempt obligations for purposes of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. If the Bonds qualifY for issuance of any policy of municipal bond insurance or commitment therefore at the option of the Underwriter, the purchase of any such insurance policy or the issuance of any such commitment shall be at the sole option and expense of the purchaser of the Bonds. Any increase costs of issuance of the Bonds resulting from such purchase of insurance shall be paid by the Purchaser, except that, if the City has requested and received a rating on the Bonds from a rating agency, the City will pay that rating fee. Any other rating agency fees shall be the responsibility of the Purchaser. Failure of the municipal bond insurer to issue the policy after the Bonds have been awarded to the purchaser shall not constitute cause for failure or refusal by the purchaser to accept delivery on the Bonds.