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FINANCIAL GUARANTY INSURANCE POLICY Municipal Bond Investors Assurance Corporation Armonk,New York 10504 Policy No.(NUMBER' Municipal Bond Investors Assurance Corporation(the"Insurers),in consideration of the payment d the penium and subjea to the tans d this policy.hereby tnoorditionally and inewrabt9 guarantees to any owner,as hereinafter defined,tithe following desanted obligations,the full and complete payment required to be made by or on behalf of the issuer to(PAYING AGENT/IRUS1FEj or its successor(the"Paying Agent)elan amount equal to(I)the principal of(either at the sated maturity or by any advancement&maturity pusuant to a mandatory,sinking find payment) and interest on,the Obligations(as that terms defined below)as such payments doll become dire but shall not be so paid(erupt that in the ant& any acceleration d the at date d such primal by reason dnaodatay or optional redenaption or acceleration meeting from default or otherwise, other than any advancement of maturity pursuant to a mandatory sinking find payment,the payments guaranteed bet*dell be made in arch amounts and at such times as sad)payments dprindpal would have been at had there not beat any such azelentionp, and(u)the reirobnse ment of any such payment which is subsequently red erect flan any own pursuant to a final judgment by a cont&competent jurisdiction that such payment constitutes an avoidable prefrnenoe to srh owner within the meaning&any applicable bankmptcy law. The amounts reared to in clauses n and(u)dthepeoeding sentence dull be reared to herein collectively as the Insured Amounts." ^Obligation C shall mean: (LEGAL NAME OF ISSUE) Upon receipt S telephonic or telegraphic tx roe,such notice anhsequmtly confined in writing by regitaed or certified mail,or con receipt S urinal notice by registered a certified mail,by the henna tom the Paying Agent or any owner San Obligation the payment clan roamed Amount for which is then due,that mdi required mutat has not been made,the Insurer on the due date dada payment or within one business day after teodptofnodcedadn nonpayment,whichever is later,will make a deposit&fronds,in an accowit with State SoulBank and Trust Company,NA, in New York,New Yak,or its successor,ad6dat for the payment S any such Insured Amotmts which ate then due. Upon presentment and anada of such Obligations or preseao mat daudn ova proof of ownership of the Obligations,together with any appropriate roam of assignment$evidence me assignment dine Insured Amounts due on the Obligations as are paid by the Insure;and appropriate instruments to tart the Beecham:a time Inner as agent for skit owners tithe Obligations ht any legal proceeding Sated to payment of bowed Amanita on me Obligations,tat intmunents being in a tam fatisfactay to State Street Bank and Dust Company,NA,State Snot Bank and Trust Company,NA shall disburse to such camas,or the Paying Agent payment of Insured Amours due on such Obligations,lea any amount held by the Paying Agent for the payment dada hand Ann uds and legally available that. This policy does not imwe against loss deny ptepaymat premium which may at any time be payable with Tama to any Obligation. As tan herein,the tam"away"dull mean the regstaed owner of any Obligation as Skated in the boots maintained by the Paying Agent,the Issuer,or any designee tithe Liner for such purpose. The tam owner dull not inch*the Issuer or any party whose agreement with the Issu r constitutes the underlying security for the Obligations. Any savior dpnc ss on the Insurer may be made to the Insneral its offices located at 113 King Sand,Armoric,New Yak 10504 and such service dpec ss shall be valid and binding. This policy is fa any mason. The premium on this policy is not refundable for any reason including the payment prior to maturity S the Obligations. In the c at the Insurer were to become insolvent,any claims arising*Ma a policy&financial grarardy Sot to are excluded from coverage by the California Insurance rance Guaranty Association,established pursuant to Article 14.2(commencing with Section 1063)&aiapter 1 of Pat 2 of Division 1 &the California Insurance Oode. IN Wp1NESS WHEREOF,the Inn has causal this policy to be executed in facsimile on its behalf by its duly authorized dims,this(DAY)day &'(MONTH,YEAR). MUNICIPAL BOND INVESTORS ASSURANCE CORPORATION President Attest: Assistant Seadaay STD-RCA-5 I/1N4