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12-14-98 12:16 FRO~- T-78B P.12/12 F-280 t (B) the writ~en repurchase agreement must be e.cecuted in advance of the `'" ' iniiial acquisitian of the subject securities by the Trus~ee: 3 4 {C} the dealer bank or s~curities firm must be: s 6 (i} a primary deaier on the FederaI Reserve reporting dealer list which ~ falis under the jurisdiction of the SIPC and whc~ is rated "A" or better by s S&P: or 9 t o (ii) banks rated "A" or better by S&P; It . 12 (D) the term of the repurchase agreemenE must nc~t exceed 30 days; 13 ~4 (E) the callateral for the repurchase agreemenc m~st: 15 ~ 6 (i) be delivzred to th~ Tntstee (if the Tn~s[ee is not supplying such ~~ collateral) ur a~hird pany acting as ~~ent for ih,; Trustee (if the Trustee is 18 supplying such collateral); 19 -'~ (ii) be free and clear of third-party liens <<nd, in the case of an SIPC '-1 broker, was not acquired pursuant to a repurcl~ase agreerrient or reverse '-'- repurch~.se agreement; ~; ~ ,~ (iii} be valued weekl~~, marked to markei ~~.t current rrtarket price plus '-S acerued interest; and ?b '-~ (iv) have ~. valuz equal to 104% of the amouat of cash transferred by '~ the Trustez co the dealer bank or security firm un~Eer the purchase a~reement '-9 plus accrued interest, and if the v~lue falls b~:lflw ;uch percentage, the '~ additional cash Qr dcceptable securities tnust be de~ivered to the parry holding ~ i the collateral; ,~ - ~~ (F) the repurch~se agreement must provide that failure to maintain the ~4 requisite colldteral percen~age, after a two day restorat~on period, will requie the >> Truscee ta liquidate the collateral: and ~6 ~~ (G) the Trustee and the County musi recei~e ar~ opinion of counsel to the 38 effect thac rhe repurchase agreement is a permitied inves~ment under ORS 294.035; 39 ~~ ~0 41 ~,. . :;. . E7) ~~~:m~rci~I ~iap~r.;. sub~e~t t4 the f¢~ip~~. t~~~irecn~n~s a~d ~~r~i~.a.~iozts; =+? _ . DEFINITIOiVS 4PPENDI\ P,~sGE 9