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I ~, i , SECTION 404. THE REBATE FUND. ~ ~~ 2 3 (A~ CALCULATION OF REBATE AMOUNT; DEPOSITS TO AND WITAD WALS FROM 4 REBATE FUND. The County hereby covenants and agrees that, in accordance wit the applicable 5 provisions of the Code, it shall cause to be calculated the Rebate Amount accruing with respect to 6 each series of Tax-Exempt Obligations issued hereunder. Within 25 days after t e close of each 7 Calculation Period for each series of Tax-Exempt Obligations and within 25 day after the final 8 payment in full of all Tax-Exempt Obligations of a particular series, the Trustee s all provide the 9 County and the Rebate Analyst with detailed information concerning the investme ts made during 1 o the Calculation Period just ended with any moneys related to such series of Tax-Exe pt Obligations 11 held by the County or the Trustee hereunder and the Rebate Analyst shall com ute the Rebate 12 Amount for such series of Tax-Exempt Obligations in accordance with the require ents of Section 13 148( fl of the Code and shall provide to the Trustee and the County a Rebate Report s tting forth such 14 calculations. ' 15 16 In the event a Rebate Report shows a positive Rebate Amount, the County s~all, within five 17 days of the delivery to the Trustee of such Rebate Report but in no event later than t e date by which 18 the Trustee is required to pay such Rebate Amount to the United States of Americ , make a Rebate 1 y Payment by depositing into the Rebate Fund an amount equal to such Rebate Am unt. 20 21 In the event that a Rebate Report shows that the amounts on deposit in he Rebate Fund 22 exceed the cumulative Rebate Amount with respect to all series of Tax-Exempt O ligations issued ~23 hereunder for all prior Calculation Periods, the Trustee is directed to transfer an am unt equal to the xcess from the Rebate Fund to the Certificate Payment Fund (but ~nly to the extent 24 amount of such e i 25 of any amounts on deposit in the Rebate Fund). , 26 2; 2a 29 30 31 32 33 34 35 36 37 38 39 40 41 ~ Amounts on deposit from time to time in the Rebate Fund shall, to the exte t practicable, be invested by the Trustee in Government Obligations as the County shall direct in iting. (B) PAYMENT OF REBATE AMOUNT TO UNITED STATES. Not later than 3 days after each Installment Computation Date for each series of Tax-Exempt Obligations, the Tr stee shall pay to the United States of America, from moneys on deposit in the Rebate Fund or, if oneys on deposit in the Rebate Fund are insufficient or unavailable to make such payments, from m neys paid by the County, at least 90% of the Excess Earnings during the preceding five Bond Years and 100% of the investment earnings on such Excess Earnings. In addition, not later than 60 day after each Final Computation Date for each series of Tax-Exempt Obligations, the Trustee shall ay to the United States of America all amounts required to be paid thereto pursuant to Section 148 ~ of the Code as set forth in the final Rebate Report, said payment to be made out of moneys on de osit in the Rebate Fund or, to the extent the moneys on deposit in the Rebate Fund are insufficient or such purpose, out of moneys paid by the County. j FINANCING AND TRUST AGREEMENT YAU~ JJ