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~1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />l0 <br />12 <br />13 <br />14 <br />15 <br />16 <br />t7 <br />18 <br />.9 <br />20 <br />21 <br />~2 <br />3 <br />24 <br />25 <br />26 <br />G/ <br />L 2S <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />~ <br />(C) IMPROVEMENT CERTIFICATES. The County may not direct the issuanc <br />Certificates, and the Trustee shall not execute and deliver any Improvement Certi <br />County first provides to the Trustee an MAI appraisal showing that, as and w <br />Improvements to the County Facilities are completed, the market value of the <br />equals or exceeds the principal components evidenced by all Outstanding Ce <br />principal components to be evidenced by the Improvement Certificates in questi <br />: of Imp~,. <br />icates, unless <br />~en the propa <br />~ounty Facili«,.~ <br />:ificates plus the <br />~D~ CONDITIONS PRECEDENT TO EXECUTION AND DELIVERY F ADDITIONAL <br />CERTIFICATES. The Trustee shall, following receipt of any direction of the County to issue <br />Additional Certificates as provided herein, execute and deliver the Addition 1 Certificates as <br />specified in the request, but only upon receipt of: I~ <br />(i) A Supplemental Agreement duly authorized, executed and delive~red by the County <br />and the Trustee: ~I <br />(1) establishing the series of Additional Certificates to ~e issued and <br />providing the terms thereof; ~~ <br />(2) authorizing the execution and delivery of the Addition~l Certificates <br />to be issued; ~ <br />(3) stating the purpose of the issue; ~~, <br />(4) if the Additional Certificates are Refunding Certificat s, authorizing <br />the payment and prepayment of the Certificates or Additional Ce ificates to be <br />refunded; and I <br />(S) setting forth any other matters relating to the is$uance of the <br />Additional Certificates or the purpose for which they are to be issued; <br />(ii) A certificate of the County: <br />(1) stating that no Event of Default under the Agreemen~ has occurred <br />and is continuing; and <br />(2) if Additional Certificates are Refunding Certificates, <br />(A) that the conditions set forth in Section 208(B above have been <br />met with respect to such Refunding Certificates, which ce ification shall be <br />accompanied by the calculations need to demonstrate th t such conditions <br />have been met; <br />FINANCING AND TRUST AGREEMENT <br />PAGE 21 <br />