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• Principal and interest payment delinquencies; <br /> • Non-payment related defaults; <br /> • Unscheduled draws on debt service reserves reflecting financial <br /> difficulties; <br /> • Unscheduled draws on credit enhancements reflecting financial <br /> difficulties; <br /> • Substitution of credit or liquidity providers, or their failure to perform; <br /> • Adverse tax opinions or events affecting the tax-exempt status of the <br /> Bonds; <br /> • Modifications to rights of Bondholders; <br /> • Bond calls; <br /> • Defeasances; <br /> • Release, substitution or sale of property securing repayment of the Bonds; <br /> and <br /> • Rating changes. <br /> Solely for purposes of disclosure, and not intending to modify this undertaking, the City <br /> advises that there is no property securing repayment of the Bonds, and there is no debt service <br /> reserve fund or account for the Bonds. <br /> (d) Notification Upon Failure to Provide Financial Data. The City agrees to <br /> provide or cause to be provided, in a timely manner, to each NRMSIR or to the MSRB and to the <br /> SID, if any, notice of its failure to provide the annual financial information described in <br /> subsection (b) above on or prior to the date set forth in subsection(b) above. <br /> -57- P:\CMW\CMW5NP 04/22/03 <br />