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wAPPPENDIX D <br /> MBIA <br /> FINANCIAL GUARANTY INSURANCE POLICY <br /> MBIA Insurance Corporation <br /> Armonk,New York 10504 <br /> Policy No.[NUMBER] <br /> MBIA Insurance Corporation (the "Insurer"), in consideration of the payment of the premium and subject to the terms of this policy, hereby <br /> unconditionally and irrevocably guarantees to any owner,as hereinafter defined,of the following described obligations,the full and complete payment <br /> required to be made by or on behalf of the Issuer to[PAYING AGENT/IRUSTEE]or as successor(the"Paying Agent")of an amount equal to(i)the <br /> principal of(either at the stated maturity or by any advancement of maturity pursuant to a mandatory `sinking fund payment) and interest on, the <br /> Obligations(as that term is defined below)as such payments shall become due but shall not be so paid(except that in the event of any arMPleration of <br /> the due date of such principal by reason of mandatory or optional redemption or acceleration resulting from default or otherwise,other than any <br /> advancement of maturity pursuant to a mandatory sinking food payment,the payments guaranteed hereby shall be made in such amounts and at such <br /> lanes as such payments of principal would have been due had there not been any such acceleration); and(ii)the reimbursement of any such payment <br /> which is subsequently recovered fiom any owner pursuant to a final judgment by a court of competent jurisdiction that such payment constitutes an <br /> avoidable preference to such owner within the meaning of any applicable,bankn t<y law. The amounts referred to in clauses(i)and Cu)of the <br /> preceding sentence shall be referred to herein collectively as the"Instwed Amounts." "Obligations"shall mean <br /> [PAR] <br /> [LEGAL NAME OF ISSUE] <br /> Upon receipt of telephonic or telegraphic notice,such notice subsequently confirmed in writing by registered or certified mail,or upon receipt of written <br /> notice by register ed or certified mail,by the.Insurer from the Paying Agent or any owner of an Obligation the payment of an Insured Amount for which <br /> is then due,that such required payment has not been made,the Insurer on the due date of such payment or within one business day after receipt of notice <br /> of such nonpayment,whichever is later,will make a deposit of funds,in an account with State Street Bank and Trost Company,NA,hn New York, <br /> New York,or its successor,sufficient for the payment of any such Insured Amounts which are then due. Upon presentment and surrender of such <br /> Obligations or presentment of such other proof of ownership of the Obligations,together with'any appropriate instunnents of assignment to evidence <br /> assignment of the Insured Amounts due on the Obligations as are paid by the Insurer,and appropriate instruments to effect the appointment of the <br /> atsurer as agent for such owners of the Obligations in any legal proceeding related to payment of Insured Amounts on the Obligations,such instruments <br /> being in a form satisfactory to State Street Bank and Trust Company,NA,State Street Bank and Trust Company,NA.shall disburse to such owners, <br /> or the Paying Agent payment of the Insured Amounts due on such Obligations,less any amount held by the Paying Agent for the payment of such <br /> Insured Amomts and legally available therefor. This policy does not insure against loss of any prepayment premium which may at any time be payable <br /> with respect to any Obligation <br /> As used herein,the term"owner"shall mean the registered owner of any Obligation as indicated in the books maintained by the Paying Agent,the <br /> Issuer,or any designee of the Issuer for such purpose. The tenn owner shall not include the Issuer or any party whose agreement with the Issuer <br /> constitutes the underlying security for the Obligations. <br /> Any service of process on the Insurer may be made to the Insurer at its offices located at 113 King Sthet,Armonk,New York 10504 and such service <br /> of process shall be valid and binding. <br /> This policy is non-cancellable for any reason. The premium on this policy is not refundable for any reason including the payment prior to maturity of <br /> the Obligations. <br /> In the event the Insurer were to become insolvent,any claims arising under a policy of financial guaranty insurance are excluded from coverage by the <br /> California Insurance Guaranty Association,established pursuant to Article 142(commencing with Section 1063)of Chapter 1 of Part 2 of Division I of <br /> the California Insurance Code. <br /> IN WITNESS WHEREOF,the Insurer has caused this policy to be executed in facsimile on its behalf by its duly authorized officers,this[DAY]day of <br /> [MONTH,YEAR]. <br /> MBIA Insurance Corporation <br /> Pres is /3/4, p <br /> Attest: ary�///� /�/� <br /> Assistant Secretary °�/�^ /() <br /> STD-R-CAs IY/ <br /> 4/95 <br /> D-1 <br />