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~ ~ ~ 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 The County has entered into the Agreement pursuant to the authority conferred upon it by ORS 271390. The County's obligation to make the 1998 Financing Payments due in each Fiscal Year shall be and remain subject to the County's having duly budgeted and appropriated, in accordance with applicable law, funds for the purpose of paying such 1998 Financing Payments. If, for any reason, the County shall fail or refuse to duly budget and appropriate, in accordance with applicable law, the 1998 Financing Payments coming due in any Fiscal Year and such failure or refusal shall continue through the end of the fifteenth day of such Fiscal Year (herein called a"Nonappropriation EvenY'), then and in any such event neither the Trustee, the Owners of the 1998 Certificates, the Insurer nor any other person shall have any further recourse whatsoever against the County or be entitled to institute or maintain any action or proceeding to compel the County, and the County shall have no obligation whatsoever, to pay any 1998 Financing Payments (other than Appropriated Financing Payments). The Certificates initially are being issued as a book-entry only securiry issue with no cenificates provided to the Certificateowners. Records of Certificate ownership will be maintained by the Trustee and The Depository Trust Company and its participanu, as provided in the Agreement. Except as otherwise provided in the Agreement, no registration or registration of transfer shall be made during the period beginning on a Record Date and ending on the next Interest Payment Date for this Certificate or after this Certificate shall be called for redemption. In the event the Book-Entry System established under the Agreement with respect to the Certificates is ever discontinued, the Issuer shall cause to be prepared, and the Trustee shall execute and deliver, a form of Certificate which contains such additional details concerning the terms thereof as is customary in connection with Certificates of similar rype which are not subject to a book-entry only system. The provision set forth in the immediately following paragraph shall apply only so long as the Certificates are subject to the Book-Entry System as provided in the Agreement and The Depository Trust Company is acting as the Securities Depository: Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation ("DTC") to the Issuer or its agent for registration of transfer, exchange, or payment and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and payment is made to Cede & Co. or to such other entiry as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. Prepayment. The principal components evidenced by the Certificates are subject to mandatory and optional optional prepayment, in whole and in part, on the dates, under the terms and conditions and at the prepayment prices, all as set forth in the Agreement. Notice of any such prepayment shall be given in the manner provided in the Agreement. On or prior to the prepayment date, funds shall be placed with the Trustee in accordance with the terms of the Agreement to pay on the prepayment date the prepayment price of the Certificates to be prepaid. Upon the happening of the above conditions, the principal components of the Certificates thus called shall not bear interest after the prepayment date and shall not be deemed to be outstanding under the provisions of the Agreement. The holder of this Certificate shall have no right to enforce the provisions of the Agreement or the Mortgage, or take any action with respect to any Event of Default under the Agreement, or to institute, appear in or defend any suit or other proceedings with respect thereto except to enforce the payment of principal and interest on this Certificate at maturiry and as otherwise provided in the Agreement and the Act. For value received, the undersigned sells, assigns and transfers unto ASSIGNMENT (please insert social securiry or other tax identification number of assignee) the within Certificate and does hereby irrevocably constitute and appoint to transfer this Certificate on the books kept for registration thereof with the full power of substitution in the premises. Date: Signature Guarantees: (Bank, Trust Company or NYSE Firm) (Authorized Officer) Note: the signature(s) must correspond with the name(s) as written on the face of this Certificate in every particular without enlargement, alteration or any change whatsoever. as attorney