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HomeMy WebLinkAbout01-034SERIES RESOLUTION RESOLUTION NO. 01-34 (ROUSE ROAD MSBU) A RESOLUTION SUPPLEMENTING RESOLUTION NO. 94-196 OF ST. LUCIE COUNTY, FLORIDA; AUTHORIZING THE ACQUISITION AND CONSTRUCTION OF PAVING AND DRAINAGE IMPROVEMENTS IN THE ROUSE ROAD MSBU; PROVIDING FOR THE ISSUANCE OF NOT EXCEEDZNG $245,000 SPECIAL ASSESSMENT IMPROVEMENT BONDS, SERIES 2001 (ROUSE ROAD MSBU), OF THE COUNTY TO FINANCE THE COST OF SUCH PROJECT; PROVIDING FOR THE PAYMENT OF THE BOND S FROM ~ERTAIN PLEDGED REVENUES, INCLUDING SPECIAL ASSESSMENTS; MAKING CERTAIN COVENANTS AND AGREEMENTS IN CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE. BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF ST. LUCIE COUNTY, FLORIDA: ARTICLE I AUTHORITY~ DEFINITIONS AND FINDINGS Section 1.01 Authority for this Resolution. This Resolution is adopted pursuant to the provisions of Chapter 125, Part I, Florida Statutes, Ordinance No. 87-77 of St. Lucie County, Florida (the "County"), and other applicable provisions of law (collectively, the "Act") and Section 5.01 (F) of Resolution No. 94-196, adopted on September 20, 1994, as amended and supplemented (the "Master Resolution"), and is supplemental to the Master Resolution. Section 1.02 Definitions. Unless the context otherwise requires, the capitalized terms used in this resolution shall have the meanings specified in this Section. Capitalized terms not otherwise defined in this Section shall have the meanings specified in the Master Resolution. Words importing singular number shall include the plural number in each case and vice versa, and words importing persons shall incl-~de firms and corporations. "Bond Resolution" means, collectively, the Master Resolution, this Resolution and all resolutions amendatory hereof and resolutions supplemental hereto. "Rouse Road MSBU" means the Rouse Road Municipal Services Benefit Unit created pursuant to Resolution No. 98-081, of the County adopted April 7, 1998. "Rouse Road MSBU Assessment Resolutions" means the resolutions adopted by the Board with respect to t?_e Rouse Road MSBU providing for the levy and collection of the Rouse Road MSBU Special Assessments within the Rouse Road MSBU, including Resolution No. 00-284, adopted on December 19, 2000, and any resolution supplemental thereto or amendatory thereof. "Rouse Road MSBU Project" means the construction of paving and drainage improvements w/thin the Rouse Road MSBU and all costs incidental thereto as permitted by the Assessment Act. "Rouse Road MSBU Project Costs" means the cost of the acquisition and construction of the Rouse Road MSBU Project and the construction and acquisition of additions, extensions, and improvements thereto including, but not limited to: the acquisition of any lands or interests therein or any other properties deemed necessary or convenient therefor; engineering, accounting, and legal fees and expenses; expenses for plans, specifications and surveys and appraisals; expenses for estimates of costs and of revenues; the fees of fiscal agents, financial advisors and consultants; administrative expenses; interest on the Rouse Road Bonds for a reasonable period of time after the date of their delivery; reasonable reserves for the payment of Debt Service with respect to the Rouse Road Bonds; discount upon the sale of the Rouse Road Bonds; the cost of purchasing any Credit Facility with respect to the Rouse Road Bonds; such other expenses as may be necessary or incidental to.the f_nancing authorized by this Resolution, to the Rouse Road MSBU Project, and to the placing of the Rouse Road MSBU Proj eot in operation; and reimbursement to the County for any sums expended for the foregoing purposes in anticipation of the issuance of the Rouse Road Bonds. "Rouse Road MSBU Special Assessments" means the special assessments levied within the Rouse Road MSBU pursuant to the Rouse Road Assessment Resolutions. "Rouse Road Bonds" means the County's Special Assessment Improvement Bonds, Series 2001 (Rouse Road MSBU), herein authorized. "Rouse Road Pledged Revenues" means with respect to the Rouse Road Bonds, (i) the Rouse Road MSBU Special Assessments levied w/thin the Rouse Road MSBU, (ii) the moneys on deposit in the Rouse Road Subaccounts established for the Rouse Road Bonds, and (iii) the Investment Earnings allocable to such Rouse Road MSBU Special Assessments (the "Rouse Road Investment Earnings"). "Rouse Road Subaccounts" means the separate accounts established and maintained pursuant to the provisions of this resolution for the benefit of the Owners of the Rouse Road Bonds. 2 6483V 1/28902-00 t03,rR-SERIES RESO "Master Resolution" means Resolution No. 94-196, adopted by the Board on September 20, 1994, as amended and supplemented from time to time. Section 1.03 Findings. It is hereby ascertained, determined and declared that: B. It is necessary and in the best interests of the health, safety, and welfare of the County and its inhabitants that the County undertake the Rouse Road MSBU Project. The County is authorized pursuant to the provisions of the Act and the Assessment Act, to undertake the Rouse Road MSBU Project. C. The County is without adequate, currently available funds to pay Rouse Road MSBU Project Costs, an/_ it is necessary and desirable and in the best interests of the County that it borrow the moneys necessary to accomplish the financing of the Rouse Road MSBU Project. The County is authorized pursuant to the provisions of the Assessment Act to borrow moneys necessary to pay the cost of the Ro'ase Road Project. D. The County anticipates receiving the Rouse Road Pledged Revenues, and the Rouse Road Pledged Revenues are not pledged or encumbered to pay any other debts or obligations of the County. E. The Rouse Road Pledged Revenues are estimated to be sufficient to pay the Debt Service on the Rouse Road Bonds and to make all other payments required to be made by the provisions of the Bond Resolution. F. The principal of and interest on the Rouse Road Bonds, and all required payments into the Rouse Road Subaccounts, shall be payable from and secured solely by a pledge of and hen on the Rouse Road Pledged Revenues. Neither the County, nor the State of Florida or any political subdivision thereof or governmental authority or body therein, shall ever be required to levy ad valorem taxes to pay the principal of and interest on the Rouse Road Bonds or to make any of the required payments into the Rouse Road Subaccounts, and the Rouse Road Bonds shall not be secured by a lien upon any property owned by or situated within the corporate limits of the County other than the Rouse Road Pledged Revenues in the manner provided herein. Section 1.14 Resolution and Master Resolution to Constitute Contract. In consideration of the acceptance of the Rouse Road Bonds authorized to be issued hereunder by those who shall be the Registered O~mers of the same from time to time, this resolution and the Master Resolution shall be deemed to be and shall constitute a contract between the County and such Registered Owners. The covenants and agreements in the Master Resolution and herein set forth to be performed by the County shall be for the equal benefit, protection and security of the Registered Owners of any and all of such Rouse Road Bonds, all of which shall be of equal rank and without preference, priority or distinction of any of the Rouse Road Bonds over any other thereof, except as expressly provided therein and hereir_. 3 6483V 1/28902-00103/R-SERIES RESt ARTICLE II AUTHORIZATION OF ROUSE ROAD MSBU PROJECT; AUTHORIZATION OF ISSUANCE OF ROUSE ROAD BONDS; DESCRIPTION, DETAILS AND FORM OF ROUSE ROAD BONDS Section 2.01. Authorization Of Rouse Road MSBU Project. The Board hereby specifically confi_-'ms the authorization of the Rouse Road MSBU Project. The Board hereby specifically ratifies and affu'ms all actions previously taken in furtherance of the Rouse Road MSBU Project. Section 2.02. Authorization of Rouse Road Bonds. Subject and pursuant to the provisions of this Resolution and the Master Resolution, obligations of the County, to be known as "Special Assessment Improvement Bonds, Series 2001 (Rouse Road MSBU)," are hereby authorized to be issued in an aggregate principal amount on original issuance of not exceeding Two Hundred Forty-five Thousand Dollars ($245,000) for the purpose of financing the Rouse Road MSBU Project Costs. Section 2.04. Description of Rouse Road Bonds. The Rouse Road Bonds shall be numbered; shall be in such denominations or maturity amounts; shall be dated; shall bear interest at not exceeding t2~e maximum rate allowed by law payable on such dates; shall mature on the first day of such month, in such years, and such amounts; and shall be issued as Current Interest Bonds, Serial Bonds, Tern Bonds, or any combination thereof; all as shall be determined by the Board at or prior to the time of sale of the Rouse Road Bonds. The Rouse Road Bonds shall be issued in fully registered form without coupons; shall be payable with respect to principal at the office of the Registrar, as paying agent, or such other paying agent as shall be subsequently determined by the Board; shall be payable in lawful money of the United States of America; and shall bear interest from their date, or from the most recent date to which interest has been paid, payable, by check or draft mailed, on or before the Interest Payment Date, to the Regis:ered Owner at his address as it appears upon the books of the Registrar as of 5:00 P.M. Eastern Time on the Record Date. Section 2.05. Form of Rouse Road Bonds. The text of the Rouse Road Bonds shall be of substantially the form of Exhibit A attached hereto, with such omissions, insertions, and variations as may be necessary and desirable, and as may be authorized or permitted by this resolution or by subsequent resolution or resolutions adopted prior to the issuance thereof, and as may be necessary to reflect the characteristics of any particular installment of Rouse Road Bonds. 4 6483V 1/28902-00103fR-SERIES RESt ARTICLE III AP??LICATION OF PROVISIONS OF MASTER RESOLUTION Section3.01 Application of Provisions ofthe Master Resolution. The Rouse Road Bonds shall for all purposes be considered to be Bonds issued under the authority of the Master Resolution and shall be entitled to all the protection and securityprovided therein for Bonds. The covenants and pledges contained in Section 3.01 and 3.02 and in Article V of the Master Resolution shall be applicable to the Rouse Road Bonds herein authorized. Section 3.02. Security for Rouse Road Bonds. (A) Pledge And Lien. The Rouse Road Bonds shall be secured forthwith equally and ratably by a pledge of and lien upon the Rouse Road Pledged Revenues. The Rouse Road Bonds shall not be or constitute general obligations or an indebtedness of the County as "bonds" within the meaning of the Constitution of Florida, but shall be payable from and secured solely by a lien upon and pledge of the Rouse Road Pledged Revenues as provided hereL-t and in the Master Resolution. No Owner of any Rouse Road Bonds shall ever have the right to compel the exercise of the ad valorem taxing power of the County or taxation in any form of property therein to pay the Debt Service on the Rouse Road Bonds. The Rouse Road Bonds shall not constituze a lien upon the Rouse Road MSBU Project or upon any property of or in the County except the Rouse Road Pledged Revenues in the manner provided herein and in the Master Resolution. (C) Series Subaccounts. There are hereby created and established in the Funds and Accounts created and established pursuant to Section 3.03(A) of the Master Resolution the following Series Subaccounts, hereinbefore defined as the "Rouse Road Subaccounts :" (1) in the Sinking Fund, the "Rouse Road Bonds Subaccount," which includes (a) the "Rouse Road Bonds Debt Service Subaccount," (b) the "Rouse Road Bonds Bond Amortization Subaccount," (c) the "Rouse Road Bonds Reserve S~baccount," and (d) the "Rouse Road Bonds Redemption Account." (D) Use of Rouse Road Pledged Revenues. All Rouse Road MSBU Special Assessments and Rouse Road Investment Earnings shall be applied and deposited in the manner provided in Section 3.04(A) and (B) of the Master Resolution only into the Rouse Road Subaccounts. Moneys and Authorized Ir_vestments on deposit at anytime in the Rouse Road Subaccounts maybe used and applied only in tt_e manner provided in Section 3.04(C) of the Master Resolution for the payment of Debt Service on, or the Redemption Price of, the Rouse Road Bonds. Moneys on deposit in the Rouse Road Subaccounts may be invested and reinvested only in Authorized Investments in the manner provided in Section 3.05 of the Master Resolution. Section 3.04 Remedies. Any Registered Owner of, or any Credit Facility Issuer for, Rouse Road Bonds sha[_ have available the remedies specified in Section 5.03 of the Master Resolution. 5 6483V 1/28902-00103/R-SERIES RESO ARTICLE IV APPLICATION OF PROCEEDS OF ROUSE ROAD BONDS There is hereby created and established in the Project Fund created pursuant to Section 4.02 of the Master Resolution a Series Subaccount to be known as the "Rouse Road MSBU Project Account." Proceeds o£the Rouse Road Bonds to be used to pay Rouse Road MSBU Project Costs shall be deposite/_ in to the Rouse Road MSBU Project Account and used solely for the purpose of paying Rouse Road MSBU Project Costs, subject to the provisions of Section 4.02 of the Master Resolution regarding (a) conditions for expenditure of moneys, (b) investment of moneys application of Investment Earnings, and (c) use of moneys remaining after completion of the Rouse Road MSBU Project. 6 6483V 1/28902-00103/R.-SERIES KESO ARTICLE V MISCELLANEOUS PROVISIONS Section 5.~1. Special Assessments. (A) Perfection of Special AsSessments; Completion of Projects. Ifnotpreviously completed, the Countywi11 forthwith, whenever it shall first be timelY, complete the Assessment Proceedings, including adoption of the Rouse Road MSBU Assessment Resolutions necessary for the lawful levy of the Rouse Road MSBU Special Assessments against all lands and properties specially benefitted by the construction of the Rouse Road MSBU Project and the collection thereof in an amount equal to or not less than the aggregate of the Debt Service Requirements on the Rouse Road Bonds to be paid from such Rouse Road MSBU Special Assessments. If any assessment made with respect to any property shall be either in whole or in part annulled, vacated or set aside by the judgment of any court, or if the County shall be satisfied that any such assessment is so irregular or defective that the same cannot be enforced or collected, or if the County shall have omitted to make any such assessment when it might have done so, the County covenants that it xvill take all necessary steps to cause a new assessment to be made for the whole or any part of any 5mprovement or against any property benefitted by any improvement of the Rouse Road MSBU Project, in the manner provided by law, and in any case any such second assessment or an initial Special Assessment for one that shall have been omitted, shall be either in whole or in part annulled, vacated, or set aside, or be unenforceable or uncollectible by reason of defect or irregularity, the County shall obtain and make other assessments until a valid assessment shall be made. The Coun.-y will also complete the Rouse Road MSBU Projects or cause the Rouse Road MSBU Projects to be completed. (B) Collection of Special Assessments~ The County will collect the Rouse Road MSBU Special Assessments in the manner provided in Section 197.3632, Florida Statutes, and other applicable provis-'_ons of law. The County will take or cause to be taken all actions necessary to diligently enforce the payment of all of the Rouse Road MSBU Special Assessments and all of the installments thereof, interest thereon and penalties therefrom, in the manner prescribed by the Master Resolution, this Resolution, and the laws of the State pertaining thereto. Section 5.02. Sale of Rouse Road Bonds. The Rouse Road Bonds shall be issued and sold at pubhc sale, private placement, or negotiated sale at one time or in installments from time to time and at such price or prices consistent with the provisions of the Act, the laws of the State, and the requirements of this Resolution. Section 5.03. Continuing Disclosure. In the event that the Rouse Road Bonds or an installment thereof are sold to an underwriter, the County Administrator is hereby authorized and directed to enter into a continuing disclosure agreement with the Registered Owners of such Rouse Road Bonds or installment thereof. Such agreement shall be for the benefit of such Registered Owners and shall -~rovide and set forth the County's covenant to provide certain annual information and notification oScertain material events, in compliance and consistent with the recent amendments to the Rule. NotwSthstanding the foregoing or anything else in this Resolution, any such agreement shall apply only to such Rouse Road Bonds are subject to the Rule. The County shall not be required 7 6483V 1/28902-00103/R-SERIES RESO to enter into any, ~uch agreement with respect to Rouse Road Bonds, or any installment thereof, which are not sulaject to the Rule. Section 5i04. Severability of Invalid Provisions. If any one or more of the covenants, agreements or provisions of this resolution should be held to be contrary to any express provision of law or to be cor_trary to the policy of express law, though not expressly prohibited, or to be against public policy, or s-xould for any reason whatsoever be held invalid, then such covenants, agreements, or provisions sha~_l be null and void and shall be deemed separate from the remaining covenants, agreements, or provisions of, and in no way affect the validity of, all the other provisions of the Master Resolution or this resolution or of the Rouse Road Bonds. Section 5.07. Repealing Clause. All resolutions of the County, or parts thereOf, in conflict with the provisions of this resolution are to the extent of such conflict hereby superseded and repealed. Section 5.08. Effective Date. This resolution shall take effect immediately upon the final approval hereof. 8 6483V 1/28902-00103/R-SERIE S ILESO Passed And Adopted by the Board of County Commissioners of St. Lucie County, Florida at a regular meeting duly called and held this 9th day of January 2001 ST. LUCIE COUNTY, FLORIDA Chairman, Board of County Commissioners ATTEST: ex officio Clerk to the Board of County Commissioners APPROxVED AS TO FORM AND Ciunty A 9 6483V 1/28902-00103/R-SERIES RESO EXHIBIT A FORM OF BOND No. UNITED STATES OF AMERICA STATE OF FLORIDA ST. LUCre COUNTY SPECIAL ASSESSMENT IMPROVEMENT BOND, SERIES 2001 (ROUSE ROAD MSBU) RATE OF INTEREST MATURITY DATE DATE OF ISSUE CUSIP REGISTERED OWNER: PRINCIPAL AMOUNT: A-1 6483V 1/28902-00103/R~SERIES P..ESO St. Lucie County, Florida (the "County"), for value received, hereby promises to pay to the Registered Owner designated above, or registered assigns, solely from the special funds hereinafter mentioned, on the Maturity Date specified above, the Principal Amount shown above, upon presentation and surrender hereof at the corporate trust office of as Bond Registrar ar_d Paying Agent, and to pay solely from such funds, interest thereon from the date of this Bond or fi:om the most recent Interest Payment Date to which interest has been paid, whichever is applicable, until payment of such Principal Amount, at the Rate of Interest per annum set forth above, such interest being payable on , and thereafter on of each year by check or draft mailed on or before the Interest Payment Date, to the Registered Owner at his address as it appears, at 5:00 P.M. Eastern Time on the fifteenth day of the month preceding the applicable Interest Payment Date, on the registration books of the County kept by the Bond Registrar; provided, that for any Registered Owner of one million dollars or more in principal amount of Bonds, such payment shall, at the written request of such Registered Owner be by wire transfer or other medium acceptable to the County and to such Registered Owner. The principal of, pren'ium, if any, and interest on this Bond are payable in lawful money of the United States of America. This Bonc is one of a Series of Bonds, originally authorized to be issued in the aggregate principal amount orS , of like date, tenor and effect, except as to number, interest rate, and date of maturity, issued to finance the cost of the acquisition and construction of paving and drainage improvements within the Rouse Road Municipal Service Benefit Unit (the "Rouse Road MSBU Project"), under the authority of and in full compliance with the Constitution and Statutes of the State of Florida, including particularly Chapter 125 Part I, Florida Statutes, Ordinance No. 87- 77 of St. Lucie County, Florida, and other applicable provisions of law, and Resolution No. 94-196, duly adopted by -are Board of County Commissioners on September 20, 1994, as amended and supplemented, and particularly as supplemented by Resolution No. 01-34 adopted by the Board on January 9, 2001 (hereinafter collectively called the "Resolution"), and is subject to all the terms and conditions of said Resolution. Capitalized terms used herein shall have the meaning specified in the Resolution. This Bond is ~ayable from and secured solely by a lien upon and pledge (i) of the proceeds derived from assessments levied against the lands and real estate within the County to be specially benefitted by the Rouse Road MSBU Project authorized by the Rouse Road MSBU Assessment Resolutions, including interest and penalties on such assessments and any moneys received upon the foreclosure of the liens of such assessments or sales, if any, of tax deeds or tax certificates with respect to such assessments (the "Rouse Road MSBU Special Assessments"), (ii) certain Rouse Road Investment Earnings; and (iii) the moneys on deposit in the Rouse Road Subaccounts in the Funds and Accounts created pursuant to the Resolution, hereinafter defined (collectively, the "Rouse Road Pledged Revenues"), all in the manner provided in and subject to the terms and conditions of such Resolution. This Bond does not constitute a general obligation or indebtedness of the County as a "bond" within the meaning of the State constitution, and it is expressly agreed by the Registered Owner of this Bond that such Registered Owner shall never have the right to require or compel the A-2 6483V 1/28902-00 t 03/R--SERIES PESO exercise of the ad valorem taxing power of the County, or the taxation of any property of or in the County, for the payment of the principal of and interest on this Bond or for the making of any sinking fund, reserve or other payments provided for in the Resolution. It is further agreed between the County and the Registered Owner of this Bond, that this Bond and the obligation evidenced hereby shall not constitute a lien upon the Rouse Road MSBU Project or any part thereof, or on any other property of or in the County, but shall constitute a lien only on the Rouse Road Pledged Revenues, in the manner provided in the Resolution. The Bonds are issuable only as fully registered Bonds in the denominations or Maturity Amounts of $5,000 or integral multiples thereof. This Bond is transferable, and exchangeable for Bonds of other aathorized denominations, at the office of the Bond Registrar, by the Registered Owner or by a person legally empowered to do so, upon presentation and surrender hereof to the Bond Registrar, together with a request for exchange or an assignment signed by the Registered Owner or by a person legally empowered to do so, in a form satisfactory to the Bond Registrar, all subject to the terms, hmitations and conditions provided in the Resolution. No charge will be made for transfer or exchange, but the County or the Bond Registrar may require payment of an amount sufficient to cover any tax or other governmental charge payable in connection therewith. The County and the Bond Registrar may deem and treat the Registered Owner as the absolute owner of this Bond for the purpose of receiving payment of or on account of principal or intereSt and for all other purposes, and neither the County nor the Bond Registrar shall be affected by any notice to the contrary. The County has entered into certain covenants with the Registered Owners of the Bonds of this Series for the terms of which reference is made to the Resolution. In particular, the County has reserved the right to defease the lien of the Bonds of this issue upon the Rouse Road Pledged Revenues upon making provision for payment of the Bonds as provided in the Resolution. Reference is made to the Resolution for a more complete description of the provisions, among others, with respect to the nature and extent of the security for the Bonds, the rights, duties and obligations olthe County, the Registrar and the Registered Owners, and the terms and conditions upon which the Bonds are issued and secured. The Registered Owner of this Bond, by acceptance hereof, assents to all of the provisions of the Resolution. [INSERT REDEMPTION PROVISIONS] Notice of such redemption shall be given in the manner provided in the Resolution. A-3 6483V 1/28902-00103/R-SERIES RESO This Bone is and has all the qualities and incidents of a negotiable instrument under the Uniform Commercial Code-Investment Securities Laws of the State of Florida, and the Registered Owner and each successive Registered Owner of this Bond, shall be conclusively deemed by his acceptance hereof to have agreed that this Bond shall be and have all the qualities and incidents of negotiable instruments under the laws of the State of Florida. It is hereby certified and recited that all acts, conditions and things required to exist, to happen and to be performed precedent to and in the issuance of this Bond, exist, have happened and have been performed in regular and due form and time as required by the laws and Constitution of the State of Florida applicable thereto, and that the issuance of this Bond, and of the issue of Bonds of which this Bond is one, does not violate any constitutional or statutory limitation. This Bond shall not be valid or become obligatory for any purpose or be entitled to any security or benefit under the Resolution until the Certificate of Authentication hereon shall have been executed by the Registrar. A-4 6483V 1/28902-00103/R-SERIES RESO IN WITNESS WHEREOF, St. Lucie County, Florida has issued this Bond and has caused the same to be executed by its Chairman, either manually or with her facsimile signature, and the corporate seal of said County or a facsimile thereof to be affixed hereto or imprinted or reproduced hereon and attested by the manual or facsimile signature of the Clerk, all as of the Date of Issue above. (SEAL) ST. LUCIE COUNTY, FLORIDA By: Chairman, Board of County Commissioners ATTEST: By: Clerk of the Circuit Court, ex officio Clerk to the Board of County Commissioners REGISTRAR'S CERTIFICATE OF AUTHENTICATION This Bond is one of the Bonds of the issue described in the within-mentioned Resolution. A-5 6483V 1/28902-00103/R--SERIES PESO As Bond Registrar By Authorized Signature Date of Authentication: A-6 6483V 1/28902-00103/R-SERIES RESO VALIDATION CERTIFICATE This Bond is one of a series of Bonds validated by judgment of the Circuit Court for St. Lucie County, Florida rendered on ,2001. Chairman A-7 6483V 1/28902-00103,'R-SERIES RESO The following abbreviations, when used in the inscription on the face of the within Bond, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - TEN ENT - JT TEN ~ as tenants in common as tenants by the entireties as joint tenants with right UNIF GIF MIN ACT - Custodian for (Cust.) of survivorship and not of ter_ants in common (Minor) under Uniform Gifts to Minors Act of (State) Additional abbreviations may also be used although not listed above. ASSIGNMENT FOR VALUE RECEIVED, the undersigned sells, assigns and transfers unto (PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE] 6483V 1/28902-00103/R-SERiES RESO (Name and Address of Transferee) A-8 the within Note mud does hereby irrevocably constitute and appoints to transfer the wi[.ain note on the books kept for registration thereof, with full power of substitution in the premises. Dated Signature Guaranteed Signature guarantee shall be made by a guarantor institution participating in the Securities Transfer Agents Medallion Program or in such other guarantee program acceptable to the Registrar. Note: The signature(s) on this assignment must correspond with the name of the Registered Owner as it appears upon the face of the within bond ha every particular, without alteration or enlargement or any change whatever. A-9 6483V 1/28902-00103/R-SERIES RESO