<SEC-DOCUMENT>0001140361-23-035773.txt : 20230724
<SEC-HEADER>0001140361-23-035773.hdr.sgml : 20230724
<ACCEPTANCE-DATETIME>20230724093431
ACCESSION NUMBER:		0001140361-23-035773
CONFORMED SUBMISSION TYPE:	SC 13D
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20230724
DATE AS OF CHANGE:		20230724
GROUP MEMBERS:		BANC OF AMERICA PREFERRED FUNDING CORP

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BNY MELLON STRATEGIC MUNICIPAL BOND FUND, INC.
		CENTRAL INDEX KEY:			0000855887
		IRS NUMBER:				051287040
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		SC 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-61161
		FILM NUMBER:		231103915

	BUSINESS ADDRESS:	
		STREET 1:		C/O BNY MELLON INVESTMENT ADVISER, INC.
		STREET 2:		240 GREENWICH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10286
		BUSINESS PHONE:		2129226400

	MAIL ADDRESS:	
		STREET 1:		C/O BNY MELLON INVESTMENT ADVISER, INC.
		STREET 2:		240 GREENWICH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10286

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DREYFUS STRATEGIC MUNICIPAL BOND FUND, INC.
		DATE OF NAME CHANGE:	20181030

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DREYFUS STRATEGIC MUNICIPAL BOND FUND INC
		DATE OF NAME CHANGE:	19920703

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BANK OF AMERICA CORP /DE/
		CENTRAL INDEX KEY:			0000070858
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				560906609
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D

	BUSINESS ADDRESS:	
		STREET 1:		BANK OF AMERICA CORPORATE CENTER
		STREET 2:		100 N TRYON ST
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28255
		BUSINESS PHONE:		7043868486

	MAIL ADDRESS:	
		STREET 1:		BANK OF AMERICA CORPORATE CENTER
		STREET 2:		100 N TRYON ST
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28255

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BANKAMERICA CORP/DE/
		DATE OF NAME CHANGE:	19981022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NATIONSBANK CORP
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NCNB CORP
		DATE OF NAME CHANGE:	19920107
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D
<SEQUENCE>1
<FILENAME>brhc20056072_sc13d.htm
<DESCRIPTION>SC 13D
<TEXT>
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  <head>
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         Document created using Broadridge PROfile 23.5.1.5152
         Copyright 1995 - 2023 Broadridge -->
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<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
  <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;">
  <div>
    <div style="text-align: center; font-size: 14pt;">UNITED STATES</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 14pt;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; margin-left: 28.35pt; font-size: 12pt;">Washington, D.C. 20549</div>
    <div>&#160;</div>
    <div style="text-align: center; font-size: 18pt;">SCHEDULE 13D</div>
    <div>&#160;</div>
    <div style="text-align: center;">Under the Securities Exchange Act of 1934</div>
    <div>&#160;</div>
    <div style="text-align: center;">(Amendment No. n/a)*</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 24pt;">BNY MELLON STRATEGIC MUNICIPAL BOND FUND, INC.</div>
    <div style="text-align: center;">(Name of Issuer)</div>
    <div>&#160;</div>
    <div style="text-align: center;">VARIABLE RATE MUNIFUND TERM PREFERRED SHARES</div>
    <div style="text-align: center;">(Title of Class of Securities)</div>
    <div>&#160;</div>
    <div style="text-align: center;">09662E505</div>
    <div style="text-align: center;">(CUSIP Number)</div>
    <div><br>
    </div>
    <div style="text-align: center;">Bank of America Corporation</div>
    <div style="text-align: center;">Bank of America Corporate Center</div>
    <div style="text-align: center;">100 North Tryon Street</div>
    <div style="text-align: center;"><u>Charlotte, North Carolina 28255</u></div>
    <div><br>
    </div>
    <div style="text-align: center;">(Name, Address and Telephone Number of Person</div>
    <div style="text-align: center;">Authorized to Receive Notices and Communications)</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" style="border-collapse: collapse; width: 60%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;" id="z30648e24c058492f98dd741ea9c21acd">

        <tr>
          <td style="width: 60%; vertical-align: top; border-bottom: 2px solid black;">
            <div style="text-align: center;">July 12, 2023</div>
          </td>
        </tr>
        <tr>
          <td style="width: 60%; vertical-align: top;">
            <div style="text-align: center;">(Date of Event Which Requires Filing of this Statement)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g),
      check the following box &#9744;.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">*The remainder of this cover page shall be filled out for a reporting person&#8217;s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which
      would alter disclosures provided in a prior cover page.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">The information required in the remainder of this cover page shall not be deemed to be &#8220;filed&#8221; for the purpose of Section 18 of the Securities Exchange Act of 1934 (&#8220;Act&#8221;) or otherwise subject to the liabilities of
      that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).</div>
    <div>&#160;
      <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
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    </div>
    <div style="text-align: center;">SCHEDULE 13D</div>
    <div>&#160;</div>
    <div style="text-align: justify;">CUSIP No. 09662E505</div>
    <div style="text-align: justify;"> <br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="2" border="0" style="border-collapse: collapse; width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr>
            <td style="BORDER-TOP: #000000 1pt solid; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">1</div>
            </td>
            <td style="BORDER-TOP: #000000 1pt solid; VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" colspan="3">
              <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">NAMES OF REPORTING PERSONS</div>
            </td>
            <td style="BORDER-TOP: #000000 1pt solid; VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-TOP: #000000 1pt solid; BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; border-bottom: 1pt solid rgb(0, 0, 0); border-left: 1pt solid rgb(0, 0, 0); width: 86.4%;" rowspan="2" colspan="3">
              <div style="text-align: justify;">Bank of America Corporation 56-0906609</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr style="HEIGHT: 13px">
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">2</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" colspan="3">
              <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: right">(a)</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: middle; PADDING-RIGHT: 2px; WIDTH: 5.01%">
              <div style="FONT-FAMILY: ''Times New Roman''; TEXT-ALIGN: left">&#9744;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" rowspan="2" colspan="3"><br>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: right">(b)</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: middle; PADDING-RIGHT: 2px; WIDTH: 5.01%">
              <div style="FONT-FAMILY: ''Times New Roman''; TEXT-ALIGN: left">&#9746;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">3</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%; BACKGROUND-COLOR: #bfbfbf" colspan="3">
              <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">SEC USE ONLY</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%; BACKGROUND-COLOR: #bfbfbf">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%; BACKGROUND-COLOR: #bfbfbf">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr style="BACKGROUND-COLOR: #bfbfbf">
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" rowspan="2" colspan="3"> <br>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr style="BACKGROUND-COLOR: #bfbfbf">
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">4</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" colspan="3">
              <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">SOURCE OF FUNDS (SEE INSTRUCTIONS)</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" rowspan="2" colspan="3">
              <div style="text-align: justify;">WC</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">5</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" colspan="3">
              <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: middle; PADDING-RIGHT: 2px; WIDTH: 5.01%">&#9746;</td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" rowspan="2" colspan="3"><br>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">6</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" colspan="3">
              <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">CITIZENSHIP OR PLACE OF ORGANIZATION</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; border-bottom: 1pt solid rgb(0, 0, 0); border-left: 1pt solid rgb(0, 0, 0); width: 86.4%;" rowspan="2" colspan="3">
              <div style="text-align: justify;">Delaware</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; FONT-WEIGHT: bold; BORDER-LEFT: #000000 1pt solid; WIDTH: 12.71%" rowspan="12" colspan="2">
              <div style="TEXT-ALIGN: center">NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">7</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 76.38%">
              <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">SOLE VOTING POWER</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 76.38%" rowspan="2"> 0<br>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">8</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 76.38%">
              <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">SHARED VOTING POWER</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 76.38%" rowspan="2">
              <div style="text-align: justify;">1,972</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">9</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 76.38%">
              <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">SOLE DISPOSITIVE POWER</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 76.38%" rowspan="2"> 0<br>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">10</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 76.38%">
              <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">SHARED DISPOSITIVE POWER</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 76.38%" rowspan="2">
              <div style="text-align: justify;">1,972</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">11</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" colspan="3">
              <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" rowspan="2" colspan="3">
              <div style="text-align: justify;">1,972</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">12</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" colspan="3">
              <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: middle; PADDING-RIGHT: 2px; WIDTH: 5.01%">
              <div style="FONT-FAMILY: ''Times New Roman''; TEXT-ALIGN: left">&#9744;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" rowspan="2" colspan="3"><br>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">13</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" colspan="3">
              <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; border-bottom: 1pt solid rgb(0, 0, 0); border-left: 1pt solid rgb(0, 0, 0); width: 86.4%;" rowspan="2" colspan="3">
              <div style="text-align: justify;">100%</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">14</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" colspan="3">
              <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; border-bottom: 1pt solid rgb(0, 0, 0); border-left: 1pt solid rgb(0, 0, 0); width: 86.4%;" rowspan="2" colspan="3">
              <div style="text-align: justify;">HC</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center;">SCHEDULE 13D</div>
    <div><br>
    </div>
    <div>CUSIP No. 09662E505</div>
    <br>
    <div>
      <div>
        <table cellspacing="0" cellpadding="2" border="0" style="border-collapse: collapse; width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

            <tr>
              <td style="BORDER-TOP: #000000 1pt solid; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
                <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">1</div>
              </td>
              <td style="BORDER-TOP: #000000 1pt solid; VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" colspan="3">
                <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">NAMES OF REPORTING PERSONS</div>
              </td>
              <td style="BORDER-TOP: #000000 1pt solid; VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-TOP: #000000 1pt solid; BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: middle; border-bottom: 1pt solid rgb(0, 0, 0); border-left: 1pt solid rgb(0, 0, 0); width: 86.4%;" rowspan="2" colspan="3">
                <div style="text-align: justify;">Banc of America Preferred Funding Corporation 75-2939570</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr style="HEIGHT: 13px">
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
                <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">2</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" colspan="3">
                <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: right">(a)</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: middle; PADDING-RIGHT: 2px; WIDTH: 5.01%">
                <div style="FONT-FAMILY: ''Times New Roman''; TEXT-ALIGN: left">&#9744;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" rowspan="2" colspan="3"><br>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: right">(b)</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: middle; PADDING-RIGHT: 2px; WIDTH: 5.01%">
                <div style="FONT-FAMILY: ''Times New Roman''; TEXT-ALIGN: left">&#9746;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
                <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">3</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%; BACKGROUND-COLOR: #bfbfbf" colspan="3">
                <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">SEC USE ONLY</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%; BACKGROUND-COLOR: #bfbfbf">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%; BACKGROUND-COLOR: #bfbfbf">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr style="BACKGROUND-COLOR: #bfbfbf">
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" rowspan="2" colspan="3"> <br>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr style="BACKGROUND-COLOR: #bfbfbf">
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
                <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">4</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" colspan="3">
                <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">SOURCE OF FUNDS (SEE INSTRUCTIONS)</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" rowspan="2" colspan="3">
                <div style="text-align: justify;">WC</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
                <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">5</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" colspan="3">
                <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: middle; PADDING-RIGHT: 2px; WIDTH: 5.01%">
                <div style="FONT-FAMILY: ''Times New Roman''; TEXT-ALIGN: left">&#9744;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" rowspan="2" colspan="3"><br>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
                <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">6</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" colspan="3">
                <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">CITIZENSHIP OR PLACE OF ORGANIZATION</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: middle; border-bottom: 1pt solid rgb(0, 0, 0); border-left: 1pt solid rgb(0, 0, 0); width: 86.4%;" rowspan="2" colspan="3">
                <div style="text-align: justify;">Delaware</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; FONT-WEIGHT: bold; BORDER-LEFT: #000000 1pt solid; WIDTH: 12.71%" rowspan="12" colspan="2">
                <div style="TEXT-ALIGN: center">NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
                <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">7</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 76.38%">
                <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">SOLE VOTING POWER</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: middle; border-bottom: 1pt solid rgb(0, 0, 0); border-left: 1pt solid rgb(0, 0, 0); width: 76.38%;" rowspan="2"> 0<br>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
                <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">8</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 76.38%">
                <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">SHARED VOTING POWER</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 76.38%" rowspan="2">
                <div style="text-align: justify;">1,972</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
                <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">9</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 76.38%">
                <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">SOLE DISPOSITIVE POWER</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 76.38%" rowspan="2"> 0<br>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
                <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">10</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 76.38%">
                <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">SHARED DISPOSITIVE POWER</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 76.38%" rowspan="2">
                <div style="text-align: justify;">1,972</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
                <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">11</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" colspan="3">
                <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" rowspan="2" colspan="3">
                <div style="text-align: justify;">1,972</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
                <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">12</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" colspan="3">
                <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: middle; PADDING-RIGHT: 2px; WIDTH: 5.01%">
                <div style="FONT-FAMILY: ''Times New Roman''; TEXT-ALIGN: left">&#9744;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" rowspan="2" colspan="3"><br>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
                <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">13</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" colspan="3">
                <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" rowspan="2" colspan="3">
                <div style="text-align: justify;">100%</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
                <div style="FONT-SIZE: 18pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">14</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 86.4%" colspan="3">
                <div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: middle; border-bottom: 1pt solid rgb(0, 0, 0); border-left: 1pt solid rgb(0, 0, 0); width: 86.4%;" rowspan="2" colspan="3">
                <div style="text-align: justify;">CO</div>
              </td>
              <td style="VERTICAL-ALIGN: middle; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.59%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
              <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 5.01%">
                <div style="TEXT-ALIGN: left">&#160;</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z501c5e3430824074bc76cd44bee0bc25" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;">

          <tr style="vertical-align: top;">
            <td style="text-align: right; vertical-align: top; width: 63pt;">
              <div style="text-align: justify;"><font style="font-weight: bold;">Item 1</font></div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div style="text-align: justify;"><font style="font-weight: bold;">Security and Issuer</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">This Statement on Schedule 13D (this &#8220;<font style="font-weight: bold;">Statement</font>&#8221;) relates to the purchase of 1,972 Variable Rate MuniFund Term Preferred Shares, Series 2023-1 (CUSIP No.
      09662E505) (&#8220;<font style="font-weight: bold;">VMTP Shares</font>&#8221;) of BNY Mellon Strategic Municipal Bond Fund, Inc. (the &#8220;<font style="font-weight: bold;">Issuer</font>&#8221; or the &#8220;<font style="font-weight: bold;">Company</font>&#8221;).&#160; This Statement is
      being filed by the Reporting Persons (as defined below) as a result of the sale of the VMTP Shares to BAPFC (as defined below).&#160; The Issuer&#8217;s principal executive offices are located at 240 Greenwich Street, New York, New York 10286.</div>
    <div>&#160;</div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="zf1d1bfbbc3544fccacacd6774635b1ac" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;">

          <tr style="vertical-align: top;">
            <td style="text-align: right; vertical-align: top; width: 63pt;">
              <div style="text-align: justify;"><font style="font-weight: bold;">Item 2</font></div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div style="text-align: justify;"><font style="font-weight: bold;">Identity and Background</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">This Statement is being filed on behalf of each of the following persons (collectively, the &#8220;<font style="font-weight: bold;">Reporting Persons</font>&#8221;):</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z45d64dbd0abf4cf6ab2126e8797acc8f">

        <tr>
          <td style="width: 39.1pt;"><br>
          </td>
          <td style="width: 31.2pt; vertical-align: top;">i.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Bank of America Corporation (&#8220;<font style="font-weight: bold;">BAC</font>&#8221;)</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z05a8dc5829a44f5fb2dc637c9fcdca32">

        <tr>
          <td style="width: 39.1pt;"><br>
          </td>
          <td style="width: 31.2pt; vertical-align: top;">ii.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Banc of America Preferred Funding Corporation (&#8220;<font style="font-weight: bold;">BAPFC</font>&#8221;)</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">This Statement relates to the VMTP Shares that were purchased for the account of BAPFC.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">The address of the principal business office of BAC is:</div>
    <div>&#160;</div>
    <div style="text-align: justify;">Bank of America Corporate Center</div>
    <div style="text-align: justify;">100 North Tryon Street</div>
    <div style="text-align: justify;">Charlotte, North Carolina 28255</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">The address of the principal business office of BAPFC is:</div>
    <div>&#160;</div>
    <div style="text-align: justify;">214 North Tryon Street</div>
    <div style="text-align: justify;">Charlotte, North Carolina 28255</div>
    <div>&#160;</div>
    <div style="text-align: justify;">BAC and its subsidiaries provide diversified global financial services and products.&#160; The principal business of BAPFC is to make investments and provide loans to clients.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">Information concerning each executive officer, director and controlling person (the &#8220;<font style="font-weight: bold;">Listed Persons</font>&#8221;) of the Reporting Persons is listed on Schedule I attached
      hereto, and is incorporated by reference herein.&#160; To the knowledge of the Reporting Persons, all of the Listed Persons are citizens of the United States, other than as otherwise specified on Schedule I hereto.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">Other than as set forth on Schedule II, during the last five years, none of the Reporting Persons, and to the best knowledge of the Reporting Persons, none of the Listed Persons, have been convicted
      in a criminal proceeding (excluding traffic violations or similar misdemeanors) or was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which such person was or is subject to a judgment,
      decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws, or finding any violation with respect to such laws.</div>
    <div>&#160;</div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z16df32d582d348b0a73a94a1149dcbf6" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;">

          <tr style="vertical-align: top;">
            <td style="text-align: right; vertical-align: top; width: 63pt;">
              <div style="text-align: justify;"><font style="font-weight: bold;">Item 3</font></div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div style="text-align: justify;"><font style="font-weight: bold;">Source and Amount of Funds or Other Consideration</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">The aggregate amount of funds used by the Reporting Persons to purchase the securities reported herein was approximately $49,300,000.&#160; The source of funds was the working capital of the Reporting
      Persons.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">The Reporting Persons declare that neither the filing of this Statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the Exchange
      Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding or disposing of securities of the Company
      or otherwise with respect to the Company or any securities of the Company or (ii) a member of any group with respect to the Company or any securities of the Company.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="zb0d468b527c3463089c14442713fb82f" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;">

          <tr style="vertical-align: top;">
            <td style="text-align: right; vertical-align: top; width: 63pt;">
              <div style="text-align: justify;"><font style="font-weight: bold;">Item 4</font></div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div style="text-align: justify;"><font style="font-weight: bold;">Purpose of the Transaction</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">BAPFC has purchased the VMTP Shares for investment purposes.&#160; BAPFC acquired the VMTP Shares directly from the Company pursuant to the VMTP Purchase Agreement dated July 12, 2023, between the Company
      and BAPFC (the &#8220;<font style="font-weight: bold;">Purchase Agreement</font>&#8221;) on their initial issuance for a purchase price of $49,300,000.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">The Reporting Persons have not acquired the subject securities with any purpose, or with the effect of, changing or influencing control of the issuer, or in connection with or as a participant in any
      transaction having that purpose or effect.</div>
    <div>&#160;</div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z97f8da563814458b89be45a0f6154449" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;">

          <tr style="vertical-align: top;">
            <td style="text-align: right; vertical-align: top; width: 63pt;">
              <div style="text-align: justify;"><font style="font-weight: bold;">Item 5</font></div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div style="text-align: justify;"><font style="font-weight: bold;">Interest in Securities of the Issuer</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">(a) - (b) The responses of the Reporting Persons to Rows (7) through (11) of the cover pages of this Statement are incorporated herein by reference.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">(c) The responses of the Reporting Persons in Item 3 and Item 4 are incorporated herein by reference.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">(d) No other person is known by the Reporting Persons to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, VMTP Shares that may be
      deemed to be beneficially owned by the Reporting Persons.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">(e) Not applicable.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4fb272092d044882b2a3c5bdba4f5465">

        <tr>
          <td style="width: 63pt; vertical-align: top; font-weight: bold;">Item 6</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-weight: bold;">Contracts, Arrangements, Understandings or Relationships with Respect to Securities of</font>&#160;<font style="font-weight: bold;">the Issuer</font></div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify;">The responses of the Reporting Persons to Item 4 are incorporated herein by reference.&#160; With respect to the VMTP Shares owned by BAPFC, on July 12, 2023 BAPFC assigned certain preferred class voting rights on the VMTP
      Shares to a voting trust (the &#8220;<font style="font-weight: bold;">Voting Trust</font>&#8221;) created pursuant to the Voting Trust Agreement, dated July 12, 2023, among BAPFC, Lord Securities Corporation, as voting trustee (the &#8220;<font style="font-weight: bold;">Voting Trustee</font>&#8221;) and Institutional Shareholder Services Inc. as voting consultant (the &#8220;<font style="font-weight: bold;">Voting Consultant</font>&#8221;).&#160; Voting and consent rights on the VMTP Shares not assigned to the Voting Trust have
      been retained by BAPFC.&#160; The Voting Trust provides that with respect to voting or consent matters relating to the voting rights assigned to the Voting Trust, the Voting Consultant analyzes such voting or consent matters and makes a recommendation to
      the Voting Trustee on voting or consenting.&#160; The Voting Trustee is obligated to follow any such recommendations of the Voting Consultant when providing a vote or consent. BAPFC has the right to cause the Company to register the VMTP Shares pursuant
      to a Registration Rights Agreement, dated July 12, 2023 between the Company and BAPFC.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb5e6f3a6c3064977a68ad302446c3bff">

        <tr>
          <td style="width: 63pt; vertical-align: top; font-weight: bold;">Item 7</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-weight: bold;">Material to be Filed as Exhibits</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z9fed8eeb2f284c89bab515703e8585d9">

        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: justify;">Exhibit</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify;">Description of Exhibit</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">99.1</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">Joint Filing Agreement</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">99.2</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">Limited Power of Attorney</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">99.3</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">Voting Trust Agreement dated July 12, 2023</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">99.4</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">VMTP Purchase Agreement dated July 12, 2023</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">99.5</div>
          </td>
          <td rowspan="1" style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">Registration Rights Agreement, dated July 12, 2023</div>
          </td>
        </tr>

    </table>
    <br>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center;">SIGNATURES</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">Date:&#160;&#160; July 24, 2023</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z798e72dcf73747f68e4d614e45ab387b">

        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="font-weight: bold;">BANK OF AMERICA CORPORATION</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div><u>By: /s/ Michael Jentis</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div>Name:&#160; Michael Jentis</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div>Title:&#160; Attorney-in-fact</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="font-weight: bold;">BANC OF AMERICA PREFERRED FUNDING CORPORATION</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div><u>By: /s/ Michael Jentis</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div>Name:&#160; Michael Jentis</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div>Title:&#160; Authorized Signatory</div>
          </td>
        </tr>

    </table>
    <div> <br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div>LIST OF EXHIBITS</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zce56e3b6bf4c43debd794aeb4494dba6">

        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: justify;">Exhibit</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify;">Description of Exhibit</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;"><a href="brhc20056072_ex99-1.htm">99.1</a></div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">Joint Filing Agreement</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;"><a href="brhc20056072_ex99-2.htm">99.2</a></div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">Limited Power of Attorney</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;"><a href="brhc20056072_ex99-3.htm">99.3</a></div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">Voting Trust Agreement dated July 12, 2023</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;"><a href="brhc20056072_ex99-4.htm">99.4</a></div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">VMTP Purchase Agreement dated July 12, 2023</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;"><a href="brhc20056072_ex99-5.htm">99.5</a></div>
          </td>
          <td rowspan="1" style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">Registration Rights Agreement, dated July 12, 2023</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; font-weight: bold;"><u>SCHEDULE I</u></div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;"><u>EXECUTIVE OFFICERS AND DIRECTORS OF</u></div>
    <div style="text-align: center; font-weight: bold;"><u>REPORTING PERSONS</u></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">The following sets forth the name and present principal occupation of each executive officer and director of Bank of America Corporation.&#160; The business address of each of the executive officers and
      directors of Bank of America Corporation is Bank of America Corporate Center, 100 North Tryon Street, Charlotte, North Carolina 28255.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="3" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="ze7c770a7079d495195c58ea4f1d8bc35">

        <tr>
          <td style="width: 25.52%; vertical-align: bottom;">
            <div style="text-align: center;"><u>Name</u></div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: bottom;">
            <div style="text-align: center;">Position with Bank of</div>
            <div style="text-align: center;"><u>America Corporation</u></div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: bottom;">
            <div style="text-align: center;"><u>Principal Occupation</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Brian T. Moynihan</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Chairman of the Board and Chief Executive Officer</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Chairman of the Board and Chief Executive Officer of Bank of America Corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Paul M. Donofrio</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Vice Chair</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Vice Chair of Bank of America Corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Thong M. Nguyen</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Vice Chair, Head of Global Strategy &amp; Enterprise Platforms</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Vice Chair, Head of Global Strategy &amp; Enterprise Platforms of Bank of America Corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Catherine P. Bessant</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Vice Chair, Global Strategy</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Vice Chair, Global Strategy of Bank of America Corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Bruce R. Thompson</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Vice Chair, Head of Enterprise Credit</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Vice Chair, Head of Enterprise Credit of Bank of America Corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Dean C. Athanasia</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>President, Regional Banking</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>President, Regional Banking of Bank of America Corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>James P. DeMare</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>President, Global Markets</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>President, Global Markets of Bank of America Corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Kathleen A. Knox</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>President, The Private Bank</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>President, The Private Bank of Bank of America Corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Matthew M. Koder</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>President, Global Corporate and Investment Banking</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>President, Global Corporate and Investment Banking of Bank of America Corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Bernard A. Mensah</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>President, International; CEO, Merrill Lynch International</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>President, International of Bank of America Corporation and CEO, Merrill Lynch International</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Lindsay DeNardo Hans</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>President, Co-Head Merrill Wealth Management</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>President, Co-Head Merrill Wealth Management of Bank of America Corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Eric Schimpf</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>President, Co-Head Merrill Wealth Management</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>President, Co-Head Merrill Wealth Management of Bank of America Corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Aditya Bhasin</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Chief Technology and Information Officer</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Chief Technology and Information Officer of Bank of America Corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>D. Steve Boland</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Chief Administrative Officer</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Chief Administrative Officer of Bank of America Corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Alastair Borthwick</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Chief Financial Officer</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Chief Financial Officer of Bank of America Corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Sheri Bronstein</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Chief Human Resources Officer</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Chief Human Resources Officer of Bank of America Corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">Geoffrey Greener</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">Chief Risk Officer</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">Chief Risk Officer of Bank of America Corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Thomas M. Scrivener</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Chief Operations Executive</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Chief Operations Executive of Bank of America Corporation</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="3" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Lauren A. Mogensen</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Global General Counsel</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Global General Counsel of Bank of America Corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Lionel L. Nowell, III</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Lead Independent Director</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Lead Independent Director, Bank of America Corporation; Former Senior Vice President and Treasurer, PepsiCo, Inc.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Sharon L. Allen</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Director</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Former Chairman of Deloitte LLP</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Jose E. Almeida</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Director</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Chairman, President and Chief Executive Officer of Baxter International Inc.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Frank P. Bramble, Sr.</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Director</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Former Executive Vice Chairman, MBNA Corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Pierre J.P. de Weck<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Director</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Former Chairman and Global Head of Private Wealth Management, Deutsche Bank AG</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Arnold W. Donald</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Director</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Former President and Chief Executive Officer, Carnival Corporation &amp; Carnival plc</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Linda P. Hudson</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Director</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Former Executive Officer, The Cardea Group, LLC and Former President and Chief Executive Officer of BAE Systems, Inc.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Monica C. Lozano</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Director</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Chief Executive Officer, College Futures Foundation and Former Chairman, US Hispanic Media Inc.; Lead Independent Director, Target Corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Denise L. Ramos</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Director</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Former Chief Executive Officer and President of ITT Inc.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Clayton S. Rose</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Director</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>President of Bowdoin College</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Michael D. White</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Director</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Lead Director of Kimberly-Clark Corporation; Former Chairman, President, and Chief Executive Officer of DIRECTV</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Thomas D. Woods<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Director</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Former Vice Chairman and Senior Executive Vice President of Canadian Imperial Bank of Commerce; Former Chairman, Hydro One Limited</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div>Maria T. Zuber</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Director</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Vice President for Research and E.A., Griswold Professor of Geophysics, MIT</div>
          </td>
        </tr>

    </table>
    <div> <br>
    </div>
    <div>
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"> </div>
    <div style="text-align: justify; text-indent: -39.1pt; margin-left: 39.1pt; font-size: 7pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> <br>
      </sup></div>
    <div style="text-align: justify; text-indent: -39.1pt; margin-left: 39.1pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> Mr. de Weck is a citizen of Switzerland.</div>
    <div style="text-align: justify; text-indent: -39.1pt; margin-left: 39.1pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup> Mr. Woods is a citizen of Canada.</div>
    <div style="text-align: justify;"> <br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div>The following sets forth the name and present principal occupation of each executive officer and director of Banc of America Preferred Funding Corporation.&#160; The business address of each of the executive officers and directors of Banc of America
      Preferred Funding Corporation is 214 North Tryon Street, Charlotte, North Carolina 28255.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="3" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z504912f104a24be6b2f26f6b8229a336">

        <tr>
          <td style="width: 25.52%; vertical-align: bottom;">
            <div style="text-align: center;"><u>Name</u></div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: bottom;">
            <div style="text-align: center;">Position with Banc of</div>
            <div style="text-align: center;">America Preferred Funding <br>
              <u>Corporation</u></div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: bottom;">
            <div style="text-align: center;"><u>Principal Occupation</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div style="text-align: justify;">John J. Lawlor</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div style="text-align: justify;">Director and President</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Managing Director, Municipal Markets and Public Sector Banking Executive of BofA Securities, Inc. and Bank of America, National Association</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div style="text-align: justify;">Edward H. Curland</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div style="text-align: justify;">Director and Managing Director</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Managing Director, Municipal Markets Executive for Trading of BofA Securities, Inc. and Bank of America, National Association</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div style="text-align: justify;">James Duffy</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div style="text-align: justify;">Managing Director</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Director; MBAM BFO, The CFO Group</div>
            <div>of&#160; Bank of America, National Association</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div style="text-align: justify;">Michael I. Jentis</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div style="text-align: justify;">Managing Director</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Managing Director, Head of Sales &#8211; Public Finance of BofA Securities, Inc. and Bank of America, National Association</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div style="text-align: justify;">Mona Payton</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div style="text-align: justify;">Managing Director</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Managing Director, Municipal Markets Executive for Short-Term Trading of BofA Securities, Inc. and Bank of America, National Association</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div style="text-align: justify;">Edward J. Sisk</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div style="text-align: justify;">Director and Managing Director</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Managing Director, Public Finance Executive of BofA Securities, Inc. and Bank of America, National Association</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div style="text-align: justify;">John B. Sprung</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div style="text-align: justify;">Director</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Corporate Director</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.52%; vertical-align: top;">
            <div style="text-align: justify;">David A. Stephens</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 27.76%; vertical-align: top;">
            <div style="text-align: justify;">Director and Managing Director</div>
          </td>
          <td style="width: 2.75%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div>Managing Director, Executive for Public Finance and Public Sector Credit Products of BofA Securities, Inc. and Bank of America, National Association</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; font-weight: bold;"><u>SCHEDULE II</u></div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;"><u>LITIGATION SCHEDULE</u></div>
    <div>&#160;</div>
    <div style="text-align: justify;">Bank of America Corporation and certain of its affiliates, including BofA Securities, Inc. (&#8220;BofA Securities,&#8221; successor in interest to Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated) and Bank of America, N.A.,
      have been involved in a number of civil proceedings and regulatory actions which concern matters arising in connection with the conduct of its business.&#160; Certain of such proceedings have resulted in findings of violations of federal or state
      securities laws.&#160; Such proceedings are reported and summarized in the BofA Securities Form BD as filed with the SEC, which descriptions are hereby incorporated by reference.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>brhc20056072_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Finacial Solutions inc.
         Document created using Broadridge PROfile 23.5.1.5152
         Copyright 1995 - 2023 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
  <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
  <div>
    <div style="text-align: right; font-weight: bold;">Exhibit 99.1</div>
    <div>&#160;</div>
    <div style="text-align: center;">JOINT FILING AGREEMENT</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">Pursuant to and in accordance with the Securities Exchange Act of 1934, as amended (the &#8220;<font style="font-weight: bold;">Exchange Act</font>&#8221;), and the rules and regulations thereunder, each party
      hereto hereby agrees to the joint filing, on behalf of each of them, of any filing required by such party under Section 13 or Section 16 of the Exchange Act or any rule or regulation thereunder (including any amendment, restatement, supplement,
      and/or exhibit thereto) with the Securities and Exchange Commission (and, if such security is registered on a national securities exchange, also with the exchange), and further agrees to the filing, furnishing, and/or incorporation by reference of
      this agreement as an exhibit thereto. This agreement shall remain in full force and effect until revoked by any party hereto in a signed writing provided to each other party hereto, and then only with respect to such revoking party.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">IN WITNESS WHEREOF, each party hereto, being duly authorized, has caused this agreement to be executed and effective as of the date set forth below.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">Date: July 24, 2023</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

        <tr>
          <td style="width: 40%; vertical-align: top;">&#160;</td>
          <td style="vertical-align: top;" rowspan="1" colspan="2">
            <div>BANK OF AMERICA CORPORATION</div>
          </td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="vertical-align: top;" rowspan="1" colspan="2">&#160;</td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>By:</div>
          </td>
          <td style="width: 55%; vertical-align: top;">
            <div><u>/s/ Michael Jentis</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>Name:</div>
          </td>
          <td style="width: 55%; vertical-align: top;">
            <div>Michael Jentis</div>
          </td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>Title:</div>
          </td>
          <td style="width: 55%; vertical-align: top;">
            <div>Attorney-in-fact</div>
          </td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 5%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 55%; vertical-align: top;" rowspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;">&#160;</td>
          <td style="vertical-align: top;" rowspan="1" colspan="2">
            <div>BANC OF AMERICA PREFERRED FUNDING CORPORATION</div>
          </td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="vertical-align: top;" rowspan="1" colspan="2">&#160;</td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>By:</div>
          </td>
          <td style="width: 55%; vertical-align: top;">
            <div><u>/s/ Michael Jentis</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>Name:</div>
          </td>
          <td style="width: 55%; vertical-align: top;">
            <div>Michael Jentis</div>
          </td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>Title:</div>
          </td>
          <td style="width: 55%; vertical-align: top;">
            <div>Authorized Signatory</div>
          </td>
        </tr>

    </table>
    <div> <br>
    </div>
    <div><br>
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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>brhc20056072_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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  <head>
    <title></title>
    <!-- Licensed to: Broadridge Finacial Solutions inc.
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<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
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  <div>
    <div style="text-align: right; font-weight: bold;">Exhibit 99.2</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">BANK OF AMERICA CORPORATION</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">LIMITED POWER OF ATTORNEY</div>
    <div>&#160;</div>
    <div style="text-align: justify;"><font style="font-weight: bold;">BANK OF AMERICA CORPORATION</font>, a Delaware corporation (the &#8220;Corporation&#8221;), does hereby make, constitute, and appoint Michael Jentis as an attorney-in-fact for the Corporation
      acting for the Corporation and in the Corporation&#8217;s name, place and stead, for the Corporation&#8217;s use and benefit, to bind the Corporation by his execution of those agreements, forms and documents related specifically to Section 13 and Section 16 of
      the Securities Exchange Act of 1934.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">Any documents executed by the attorney-in-fact in accordance with this Limited Power of Attorney shall fully bind and commit the Corporation and all other parties to such documents may rely upon the execution thereof
      by the attorney-in-fact as if executed by the Corporation and as the true and lawful act of the Corporation.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">This Limited Power of Attorney shall automatically terminate as to the authority of Michael Jentis upon the earlier of the attorney-in-fact&#8217;s resignation or termination from or transfer out of Global Banking and
      Markets &#8211; Municipal Banking and Markets; however, any such resignation, termination or transfer shall have no impact on any documents or instruments executed by the attorney-in-fact named above for the Corporation prior to such resignation,
      termination or transfer.</div>
    <div>&#160;</div>
    <div style="text-align: justify;"><font style="font-weight: bold;">IN WITNESS WHEREOF</font>, this Power of Attorney has been executed and delivered by the Corporation to the Attorney-in-Fact on this 27th day of May, 2020.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;" rowspan="1" colspan="2">
            <div style="font-weight: bold;">BANK OF AMERICA CORPORATION</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 47%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
            <div>By:</div>
          </td>
          <td style="width: 47%; vertical-align: top;">
            <div><u>/s/ Ellen A. Perrin</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;"><br>
          </td>
          <td style="width: 47%; vertical-align: top;">
            <div>Ellen A. Perrin</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
            <div><br>
            </div>
          </td>
          <td style="width: 47%; vertical-align: top;">
            <div>Associate General Counsel and Senior Vice President</div>
          </td>
        </tr>

    </table>
    <div> <br>
    </div>
    <div> <br>
    </div>
    <div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>brhc20056072_ex99-3.htm
<DESCRIPTION>EXHIBIT 99.3
<TEXT>
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  <head>
    <title></title>
    <!-- Licensed to: Broadridge Finacial Solutions inc.
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         Copyright 1995 - 2023 Broadridge -->
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<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
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  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 99.3</font><br>
  </div>
  <div> <br>
  </div>
  <div>
    <div style="text-align: center; font-weight: bold;">VOTING TRUST AGREEMENT</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">THIS VOTING TRUST AGREEMENT</font> (this &#8220;<font style="font-weight: bold;">Agreement</font>&#8221;) is made and entered into effective for all purposes and in all respects
      as of July 12, 2023 by and among Lord Securities Corporation, as trustee (the &#8220;<font style="font-weight: bold;">Trustee</font>&#8221; or any successor thereto), Banc of America Preferred Funding Corporation, a Delaware corporation, including its successors
      and assigns by operation of law (&#8220;<font style="font-weight: bold;">PFC</font>&#8221; or the &#8220;<font style="font-weight: bold;">Purchaser</font>&#8221;) and Institutional Shareholder Services Inc. (the &#8220;<font style="font-weight: bold;">Voting Consultant</font>&#8221; or
      any successor thereto).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">WHEREAS</font>, the Purchaser is the legal and Beneficial Owner of Series 2023-1 Variable Rate MuniFund Term Preferred Shares (&#8220;<font style="font-weight: bold;">VMTP</font>&#160;<font style="font-weight: bold;">Shares</font>&#8221;) of BNY Mellon Strategic Municipal Bond Fund, Inc. (the &#8220;<font style="font-weight: bold;">Issuer</font>&#8221;) pursuant to the terms of the VMTP Purchase Agreement, dated as of July 12, 2023, between PFC and the
      Issuer (the &#8220;<font style="font-weight: bold;">Purchase Agreement</font>&#8221;);</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">WHEREAS</font>, the Purchaser desires to transfer and assign irrevocably to the Trustee, and the Trustee desires to accept such transfer and assignment of, the right
      to vote and consent for the Purchaser in connection with all of its voting and consent rights and responsibilities, as set forth in Section 1 below, as a Beneficial Owner of (i) VMTP Shares acquired by the Purchaser pursuant to the Purchase Agreement
      (such VMTP Shares, when owned by the Purchaser, the &#8220;<font style="font-weight: bold;">Subject Shares</font>&#8221;) and (ii) any additional shares of VMTP Shares or preferred shares of any class or series of the Issuer having voting powers of which an
      Affiliate of PFC is the Beneficial Owner or that the Purchaser becomes the Beneficial Owner of during the term of this Agreement (any such additional preferred shares of the Issuer having voting powers being &#8220;<font style="font-weight: bold;">Additional


        Shares</font>&#8221; and when so acquired will become a part of the &#8220;<font style="font-weight: bold;">Subject Shares</font>&#8221; covered by this Agreement);</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">WHEREAS</font>, the Voting Consultant shall analyze any matters requiring the owner of Subject Shares, to vote or consent in its capacity as an equity holder (whether
      at a meeting or via a consent solicitation), and shall provide a recommendation to the Trustee of how to vote or consent with respect to such voting or consent matters;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">WHEREAS</font>, the Voting Consultant and the Trustee are Independent of the Purchaser; and</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">WHEREAS</font>, the parties hereto desire to set forth in writing their understandings and agreements.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">NOW, THEREFORE</font>, in consideration of the foregoing, of the mutual promises hereinafter set forth and of other good and valuable consideration, the receipt and
      sufficiency of which are hereby acknowledged, the parties, intending legally and equitably to be bound, hereby agree as follows:</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Creation of Trust</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">The Purchaser hereby irrevocably transfers and assigns to the Trustee, and the Trustee hereby accepts the transfer and assignment of, the right to vote and consent for the Purchaser in connection
      with all of its voting and consent rights and responsibilities as Beneficial Owner of the Subject Shares with respect to the following matters (collectively, the &#8220;<font style="font-weight: bold;">Voting Matters</font>&#8221;):</div>
    <div>&#160;</div>
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    <!--PROfilePageNumberReset%Num%2%%%-->
    <div style="text-align: justify; text-indent: 72pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the election of the two members of the Board for which Holders of VMTP Shares are exclusively entitled to vote under Section 18(a)(2)(C) of the Investment Company Act of 1940, as amended
      (the &#8220;<font style="font-weight: bold;">1940 Act</font>&#8221;) and all other rights given to Holders of VMTP Shares with respect to the election of the Board of the Issuer;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160; the conversion of the Issuer from a closed-end management company to an open-end management company, or to change the Issuer&#8217;s classification from diversified to non-diversified, each
      pursuant to Section 13(a)(1) of the 1940 Act (any of the foregoing, a &#8220;<font style="font-weight: bold;">Conversion</font>&#8221;), together with any additional voting or consent right under the Articles Supplementary and the Purchase Agreement that relates
      solely to any action or amendment to the Articles Supplementary that is so closely related to the Conversion that it would be impossible to give effect to the Conversion without implicating such additional voting or consent right; <font style="font-style: italic;">provided</font> that any such additional voting or consent right shall not include any voting or consent right related to satisfying any additional term, condition or agreement which the Conversion is conditioned upon or
      subject to or, for the avoidance of doubt, any voting or consent right relating to any amendment or waiver of Section 2.4, 2.6 or 2.8 of the Articles Supplementary or any definitions relevant to such Section;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160; the deviation from a policy in respect of concentration of investments in any particular industry or group of industries as recited in the Issuer&#8217;s registration statement, pursuant to
      Section 13(a)(3) of the 1940 Act (a &#8220;<font style="font-weight: bold;">Deviation</font>&#8221;), together with any additional voting or consent right under the Articles Supplementary and the Purchase Agreement that relates solely to any action or amendment
      to the Articles Supplementary that is so closely related to the Deviation that it would be impossible to give effect to the Deviation without implicating such additional voting or consent right; <font style="font-style: italic;">provided</font> that
      any such additional voting or consent right shall not include any voting or consent right related to satisfying any additional term, condition or agreement which the Deviation is conditioned upon or subject to or, for the avoidance of doubt, any
      voting or consent right relating to any amendment or waiver of Section 2.4, 2.6 or 2.8 of the Articles Supplementary or any definitions relevant to such Section;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; borrowing money, issuing senior securities, underwriting securities issued by other Persons, purchasing or selling real estate or commodities or making loans to other Persons other than
      in accordance with the recitals of policy with respect thereto in the Issuer&#8217;s registration statement, pursuant to Section 13(a)(2) of the 1940 Act (any of the foregoing, a &#8220;<font style="font-weight: bold;">Policy Change</font>&#8221;), together with any
      additional voting or consent right under the Articles Supplementary and the Purchase Agreement that relates solely to any action or amendment to the Articles Supplementary that is so closely related to the Policy Change that it would be impossible to
      give effect to the Policy Change without implicating such additional voting or consent right; <font style="font-style: italic;">provided</font> that any such additional voting or consent right shall not include any voting or consent right related to
      satisfying any additional term, condition or agreement which the Policy Change is conditioned upon or subject to or, for the avoidance of doubt, any voting or consent right relating to any amendment or waiver of Section 2.4, 2.6 or 2.8 of the
      Articles Supplementary or any definitions relevant to such Section; and</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any matters described in 12 C.F.R. Section 225.2(q)(1).</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">2</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt;">In order to effect the transfer of voting and consent rights with respect to the Voting Matters, PFC hereby irrevocably appoints and constitutes, and will cause each of its Affiliates who are
      Beneficial Owners of any Subject Shares to irrevocably appoint and constitute, the Trustee as its attorney-in-fact and agrees, and agrees to cause each of such Affiliates, to grant the Trustee one or more irrevocable proxies with respect to the
      Voting Matters and further agrees to renew any such proxies that may lapse by their terms while the Subject Shares are still subject to this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">PFC will retain all other voting rights under the Related Documents and PFC, its Affiliates or designee will also be the registered owner of the VMTP Shares.&#160; If any dividend or other distribution in
      respect of the Subject Shares is paid, such dividend or distribution will be paid directly to PFC or its Affiliate or designee owning such Subject Shares; <font style="font-style: italic;">provided</font>, that, any Additional Shares will become
      part of the Subject Shares covered by this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Definitions</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">&#8220;<font style="font-weight: bold;">Affiliate</font>&#8221; means, with respect to a Person, (i) any other Person who, directly or indirectly, is in control of, or controlled by, or is under common control
      with, such Person or (ii) any other Person who is a director, officer, employee or general partner (a) of such Person, (b) of any majority-owned subsidiary or parent company of such Person or (c) of any Person described in clause (i) above. For the
      purposes of this definition, &#8220;control&#8221; of a Person shall mean (x) as defined for purposes of the 1940 Act and regulations thereunder, the power, direct or indirect, (A) to vote more than 25% of the securities having ordinary voting power for the
      election of directors of such Person or (B) to direct or cause the direction of the management and policies of such Person whether by contract or otherwise or (y) as defined for purposes of the Bank Holding Company Act of 1956 and regulations
      thereunder, (a) directly or indirectly owning, controlling, or holding with power to vote 25% or more of any class of voting securities of such Person, (B) controlling in any manner the election of a majority directors or trustees of such Person, or
      (c) having the power to exercise a controlling influence over the management or policies of such Person. For the avoidance of doubt, the term &#8220;Affiliate&#8221; shall include a TOB Trust (or similar investment vehicle) of which PFC and/or one or more of its
      Affiliates collectively owns a majority of the residual interests.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">&#8220;<font style="font-weight: bold;">Articles Supplementary</font>&#8221; means the Articles Supplementary of the Issuer, dated as July 12, 2023, as amended from time to time in accordance with the provisions
      thereof.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">&#8220;<font style="font-weight: bold;">Beneficial Owner</font>&#8221; means, any Person who, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise has or shares
      (i) voting power which includes the power to vote, or to direct the voting of, securities and/or (ii) investment power which includes the power to dispose, or to direct the disposition of, securities.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">&#8220;<font style="font-weight: bold;">Board</font>&#8221; means the Board of Trustees of the Issuer or any duly authorized committee thereof.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">&#8220;<font style="font-weight: bold;">Excluded Transfer</font>&#8221; means any transfer of VMTP Shares (1) to a TOB Trust in which PFC and/or its Affiliates collectively own all of the residual interests, (2)
      in connection with a distribution in-kind to the holders of securities of or receipts representing an ownership interest in any TOB Trust in which PFC and/or its Affiliates collectively own all of the residual interests, (3) in connection with a
      repurchase financing transaction or (4) relating to a collateral pledge arrangement.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">3</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt;">&#8220;<font style="font-weight: bold;">Independent</font>&#8221; means, as to any Person, any other Person who (i) does not have and is not committed to acquire any material direct or any material indirect
      financial interest in such Person, (ii) is not connected with such Person as an officer, employee, promoter, underwriter, partner, director or Person performing similar functions and (iii) is not otherwise subject to the undue influence or control of
      such other Person.&#160; For purposes of this definition, no Person will fail to be Independent solely because such Person acts as a voting consultant or trustee in respect of property owned by another Person or its Affiliates pursuant to this Agreement
      or any other agreement.&#160; With respect to item (i) above, &#8220;material direct or material indirect financial interest&#8221; means, (1) as to any Person, owning directly or indirectly (as principal for such Person&#8217;s own account) at least 5% of any class of the
      outstanding equity or debt securities issued by any other Person or (2) with respect to a Person (the &#8220;<font style="font-weight: bold;">Investor</font>&#8221;) owning directly or indirectly (as principal for the Investor&#8217;s own account) outstanding equity
      or debt securities of any other Person in an amount at least equal to 5% of the total consolidated shareholders, equity of the Investor (measured in accordance with U.S. generally accepted accounting principles).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">&#8220;<font style="font-weight: bold;">Person</font>&#8221; means and includes an individual, a partnership, a corporation, a trust, an unincorporated association, a joint venture or other entity or a
      government or any agency or political subdivision thereof.</div>
    <div>&#160;</div>
    <div style="text-indent: 36pt;">&#8220;<font style="font-weight: bold;">TOB Trust</font>&#8221; means a tender option bond trust or similar vehicles that are functionally equivalent to tender option bond trusts and used for providing financing for municipal
      obligations and municipal closed-end fund preferred shares.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">Each capitalized term used herein and not otherwise defined herein shall have the meaning provided therefor (including by incorporation by reference) in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <font style="font-weight: bold;">Right to Transfer</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">The Purchaser shall have the right to sell or otherwise transfer the Subject Shares at any time in its sole discretion, subject to the transfer restrictions contained in Section 3.01 of the Purchase
      Agreement.&#160; Upon the transfer of the Subject Shares by the Purchaser to any third party (other than a transfer to an Affiliate of the Purchaser in which case such Subject Shares shall remain subject to this Agreement) such Subject Shares shall no
      longer be subject to this Agreement; <font style="font-style: italic;">provided</font>, <font style="font-style: italic;">however</font>, in connection with an Excluded Transfer:</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160; of the type specified in clause (1) of the definition of Excluded Transfer, the Subject Shares shall remain subject to this Agreement until such time as the Issuer, upon the request of PFC
      or the relevant Affiliate, enters into a voting arrangement satisfying Section 12(d)(1)(E)(iii) of the 1940 Act;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160; of the type specified in clauses (3) or (4) of the definition of Excluded Transfer, to the extent PFC or any of its Affiliates retains the right to vote or direct voting in connection with
      such transactions, the Subject Shares shall remain subject to this Agreement until such time as there is a default by PFC or such Affiliate under such repurchase transaction or collateral pledge arrangement; and</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">4</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: justify; text-indent: 72pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; of the type specified in clauses (3) or (4) of the definition of Excluded Transfer, to the extent PFC or any of its Affiliates does not retain the right to vote or direct voting of such
      Subject Shares in such transactions, such transactions do not permit the removal of the Subject Shares&#8217; rights transferred to the Voting Trust pursuant to this Agreement within the first 60 days of closing of such transferee becoming the Beneficial
      Owner of such Subject Shares unless there is a default by PFC or such Affiliate under such repurchase transaction or collateral pledge arrangement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">4.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <font style="font-weight: bold;">Trustee</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-weight: bold;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Rights And Powers Of Trustee.&#160; </font>With respect to Subject Shares where the Purchaser is the Beneficial Owner,
      the Trustee shall, in person or by nominees, agents, attorneys-in-fact, or proxies, have the right and the obligation to exercise its discretion with respect to all Voting Matters requiring Holders of VMTP Shares to vote or consent with respect to
      and including voting or consenting to any corporate or shareholder action of any kind whatsoever, subject to the terms of this Agreement.&#160; The Trustee shall be obligated to vote any Voting Matter in accordance with the provisions of this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-weight: bold;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Liability Of Trustee.&#160; </font>In exercising the rights and powers of the Trustee, the Trustee will exercise any
      rights and powers in the Trustee&#8217;s best judgment; <font style="font-style: italic;">provided</font>, <font style="font-style: italic;">however</font>, the Trustee shall not be liable for any action taken by such Trustee or the Trustee&#8217;s agent,
      except for liability arising from the Trustee&#8217;s bad faith, wilful misconduct or gross negligence.&#160; The Trustee shall not be required to give any bond or other security for the discharge of the Trustee&#8217;s duties.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-weight: bold;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Resignation of and Successor Trustee.&#160; </font>The Trustee may at any time resign the Trustee&#8217;s position as
      Trustee by delivering a resignation in writing to the Purchaser and the Voting Consultant to become effective 90 days after the date of such delivery, but in any event such notice shall not become effective prior to the acceptance of a successor
      Trustee.&#160; The Trustee shall nominate a successor Trustee acceptable to the Purchaser, who shall have all rights, powers and obligations of the resigning Trustee as set forth in this Agreement, and all rights, powers and obligations of the resigning
      Trustee hereunder shall immediately terminate upon the acceptance by the successor Trustee of such nomination and the execution of this Agreement by the successor Trustee as &#8220;Trustee&#8221; hereunder.&#160; No such resignation shall become effective until such
      time as a successor Trustee has been appointed and such appointment has been accepted.&#160; The fact that any Trustee has resigned such Trustee&#8217;s position as a Trustee shall not act, or be construed to act, as a release of any Subject Shares from the
      terms and provisions of this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-weight: bold;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Removal.&#160; </font>The Trustee may be removed by the Purchaser upon 30 days prior written notice upon either (i) a
      material breach by the Trustee of its obligations hereunder or (ii) any action or inaction of the Trustee which constitutes bad faith, negligence or wilful misconduct in the performance of its obligations hereunder.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-weight: bold;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Independent.</font>&#160; The Trustee represents that it is Independent of PFC.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">5</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <font style="font-weight: bold;">Voting Consultant</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-weight: bold;">(a)</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Liability Of Voting Consultant.&#160; </font>In providing its voting recommendations on Voting Matters hereunder, the
      Voting Consultant will provide such recommendations in the Voting Consultant&#8217;s best judgment with respect to the Voting Matters for the VMTP Shares; <font style="font-style: italic;">provided</font>, <font style="font-style: italic;">however</font>,
      the Voting Consultant shall not be liable for any action taken by such Voting Consultant or the Voting Consultant&#8217;s agent, except for liability arising from the Voting Consultant&#8217;s bad faith, wilful misconduct or gross negligence.&#160; For the avoidance
      of doubt, the Voting Consultant&#8217;s maximum liability shall be limited to an amount not to exceed the total amounts of the fees the Voting Consultant receives from the Purchaser under the Master Agreement (as defined in Section 5(d)) in any one year
      period for any and all claims made within that one year period; <font style="font-style: italic;">provided </font>that if a breach of Section 5(e) is determined to have occurred, the sole remedy shall be the immediate removal of the Voting
      Consultant by the Purchaser in the Purchaser&#8217;s sole discretion and no monetary damages shall be due or payable.&#160; In addition, the Voting Consultant shall not be liable for any action taken by the Trustee contrary to the recommendations provided by
      the Voting Consultant.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-weight: bold;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Resignation of and Successor Voting Consultant.&#160; </font>The Voting Consultant may at any time resign the Voting
      Consultant&#8217;s position as Voting Consultant by delivering a resignation in writing to the Purchaser and to the Trustee to become effective 90 days after the date of such delivery.&#160; Upon receipt of the Voting Consultant&#8217;s written resignation, the
      Purchaser shall use commercially reasonable efforts to appoint a successor Voting Consultant which has been consented to by the Trustee, such consent not to be unreasonably withheld.&#160; If the Voting Consultant shall resign but a successor Voting
      Consultant has not assumed all of the Voting Consultant&#8217;s duties and obligations within 90 days of such resignation, the Voting Consultant may petition any court of competent jurisdiction for the appointment of a successor Voting Consultant.&#160; No such
      resignation shall become effective until such time as a successor Voting Consultant has been appointed and such appointment has been accepted.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-weight: bold;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Removal.&#160; </font>The Voting Consultant may be removed by the Purchaser upon 30 days prior written notice upon
      either (i) a material breach by the Voting Consultant of its obligations hereunder or (ii) any action or inaction of the Voting Consultant which constitutes bad faith, gross negligence or wilful misconduct in the performance of its obligations
      hereunder.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-weight: bold;">(d)</font>&#160;&#160; &#160; &#160;&#160;&#160; <font style="font-weight: bold;">Contract.&#160; </font>A separate contract, that certain Master Services Agreement No. (24828001-001) by and between
      the Voting Consultant and the Purchaser, as may be amended from time to time with the prior written consent of the parties thereto (the &#8220;<font style="font-weight: bold;">Master Agreement</font>&#8221;), sets forth additional details, including fees,
      pursuant to which the Voting Consultant is providing the services contemplated hereunder.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-weight: bold;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Independent.</font>&#160; The Voting Consultant represents that it is Independent of PFC; <font style="font-style: italic;">provided</font>, <font style="font-style: italic;">however</font>, if the Voting Consultant becomes aware that the Voting Consultant is no longer Independent of the Purchaser, the Voting Consultant shall promptly, and in no event later
      than two Business Days after becoming aware, notify the Purchaser and shall abstain from making voting recommendations during any period of time during which the Voting Consultant is not Independent of the Purchaser.&#160; If the Voting Consultant
      notifies the Purchaser that it is no longer Independent of the Purchaser, the Purchaser shall use commercially reasonable efforts to identify and appoint a replacement voting consultant.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">6</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">6.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <font style="font-weight: bold;">Amount of Subject Shares Notification</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">On any and each date that the Purchaser sells or otherwise transfers any Subject Shares to another Beneficial Owner, the Purchaser shall promptly notify the Trustee of such occurrence and the number
      of VMTP Shares that the Purchaser then owns.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">7.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Voting Communications</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">The Purchaser shall notify the Trustee and the Voting Consultant as soon as possible, and in any event, not later than five Business Days after receipt of notice that a vote of the holders of VMTP
      Shares has been requested or permitted on any Voting Matter and the Purchaser shall, within such same time frame, forward any information sent to the Purchaser in connection with such vote to the Trustee and the Voting Consultant by Electronic Means.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">The Voting Consultant shall analyze and provide a voting or consent recommendation to the Trustee with respect to each Voting Matter in respect of the Subject Shares.&#160; The Trustee is obligated to act
      in accordance with the voting or consent recommendation made by the Voting Consultant in its voting or consent direction to the Purchaser.&#160; In all Voting Matters, the Trustee shall use the proxies granted to it by the Purchaser to vote or consent the
      Subject Shares in accordance with the voting or consent recommendation made by the Voting Consultant and the Purchaser shall not exercise any voting or consent rights in such matters.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">If the Voting Consultant fails to provide a voting or consent recommendation to the Trustee on or prior to the deadline for submission of such vote or consent, the Trustee shall not provide a vote or
      consent on behalf of the Purchaser on such deadline and shall provide notice of the failure to receive a voting or consent recommendation to the Purchaser and the Voting Consultant.&#160; For the avoidance of doubt, the Purchaser shall not retain the
      right to vote or consent on any Voting Matters for which the Trustee does not provide a vote or consent on behalf of the Purchaser.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">8.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <font style="font-weight: bold;">Indemnification</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-weight: bold;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Of the Trustee and the Voting Consultant.</font>&#160; The Purchaser shall indemnify and hold the Trustee and the
      Voting Consultant and such Trustee&#8217;s and such Voting Consultant&#8217;s agents harmless from and against any and all liabilities, obligations, losses, damages, penalties, taxes, claims, actions, suits, reasonable costs, reasonable expenses or disbursements
      (including reasonable legal fees and expenses) of any kind and nature whatsoever in connection with or growing out of (i) with respect to the Trustee, the administration of the voting trust created by this Agreement or (ii) with respect to the
      Trustee and the Voting Consultant, the exercise of any powers or the performance of any duties by the Trustee or the Voting Consultant as herein provided or contemplated, including, without limitation, any action taken or omitted to be taken, except,
      with respect to the Trustee and the Voting Consultant separately, such as may arise from the bad faith, willful misconduct or gross negligence of the Trustee or the Voting Consultant, respectively.&#160; In no event shall the Purchaser be liable for
      special, incidental, indirect or consequential damages.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">7</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-weight: bold;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Of the Purchaser and the Voting Consultant.</font>&#160; The Trustee shall indemnify and hold the Purchaser and the
      Voting Consultant and the Purchaser&#8217;s and the Voting Consultant&#8217;s agents harmless from and against any and all liabilities, obligations, losses, damages, penalties, taxes, claims, actions, suits, reasonable costs, reasonable expenses or disbursements
      (including reasonable legal fees and expenses) of any kind and nature whatsoever which may be imposed, incurred or asserted against the Purchaser or the Voting Consultant in connection with the wilful misconduct or negligence of the Trustee in
      connection with the exercise of any powers or the performance of any duties by the Trustee as herein provided or contemplated, including, without limitation, any action taken or omitted to be taken, except, with respect to the Purchaser and the
      Voting Consultant separately, such as may arise from the wilful misconduct or gross negligence of the Purchaser or the Voting Consultant, respectively.&#160; In no event shall the Trustee be liable for special, incidental, indirect or consequential
      damages.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-weight: bold;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Of the Purchaser and the Trustee.</font>&#160; The Voting Consultant shall indemnify and hold the Purchaser and the
      Trustee and the Purchaser&#8217;s and the Trustee&#8217;s agents harmless from and against any and all liabilities, obligations, losses, damages, penalties, taxes, claims, actions, suits, reasonable costs, reasonable expenses or disbursements (including
      reasonable legal fees and expenses) of any kind and nature whatsoever which may be imposed, incurred or asserted against the Purchaser or the Trustee in connection with the wilful misconduct or gross negligence of the Voting Consultant in connection
      with the exercise of any powers or the performance of any duties by the Voting Consultant as herein provided or contemplated, including, without limitation, any action taken or omitted to be taken, except, with respect to the Purchaser and the
      Trustee separately, such as may arise from the wilful misconduct or gross negligence of the Purchaser or the Trustee, respectively; <font style="font-style: italic;">provided</font>, <font style="font-style: italic;">however</font>, that the Voting
      Consultant&#8217;s maximum liability under this Section 8(c) shall be limited to an amount not to exceed the total amount of the fees the Voting Consultant receives from the Purchaser under the Master Agreement in any one year period for any and all claims
      made within that one year period.&#160; In no event shall the Voting Consultant be liable for special, incidental, indirect or consequential damages.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-weight: bold;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Conditions to Indemnification.</font>&#160; An indemnified party must give the other party(ies) prompt written notice
      of any claim and allow the indemnifying party to defend or settle the claim as a condition to indemnification.&#160; No settlement shall bind any party without such party&#8217;s written consent.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">9.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Termination of Agreement</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-weight: bold;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; This Agreement and the voting trust created hereby shall terminate with respect to all of the Subject Shares (i) at the option of PFC, upon the
      non-payment of dividends on the VMTP Shares for two years, (ii) at the option of PFC, upon PFC and its Affiliates in the aggregate owning less than 20% of the Outstanding VMTP Shares, (iii) as provided with respect to certain transfers of Subject
      Shares in Section 3 above or (iv) upon 10 Business Days written notice delivered by Purchaser to the Trustee and Voting Consultant following any failure to agree to the renewal or extension of the term for the Trustee or Voting Consultant services as
      provided in the Master Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-weight: bold;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Upon the termination of this Agreement with respect to the Subject Shares, the voting trust created pursuant to Section 1 hereof shall cease to
      have any effect with respect to the Subject Shares, and the parties hereto shall have no further rights or obligations under this Agreement with respect to the Subject Shares.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">8</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">10.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Trustee&#8217;s Compensation</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">The Trustee shall be entitled to the compensation set forth in the letter agreement between the Purchaser and the Trustee dated as of July 12, 2023, as may be amended from time to time.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">11.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Voting Consultant&#8217;s Compensation</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">The Voting Consultant shall be entitled to the compensation pursuant to the Master Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">12.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Tax Treatment</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">It is the intention of the parties hereto that for all federal, state and local income and other tax purposes the Purchaser or the applicable Beneficial Owner, as the case may be, shall be treated as
      the owner of the Subject Shares and, except as otherwise required by law, no party shall take a contrary position in any tax return or report or otherwise act in a contrary manner.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">13.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Notices</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">All notices, requests and other communications to the Purchaser, the Trustee or the Voting Consultant shall be in writing (including telecopy, electronic mail or similar writing), except in the case
      of notices and other communications permitted to be given by telephone, and shall be given to such party at its address or telecopy number or email address set forth below or to such other Person and/or such other address or telecopy number or email
      address as such party may hereafter specify for the purpose by notice to the other party.&#160; Each such notice, request or other communication shall be effective (i) if given by mail, five days after such communication is deposited in the mail, return
      receipt requested, addressed as aforesaid, or (ii) if given by any other means, when delivered at the address specified in this Section.&#160; The notice address for each party is specified below:</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">if to the Purchaser:</div>
    <div>&#160;</div>
    <div style="margin-left: 36pt;">Banc of America Preferred Funding Corporation</div>
    <div style="margin-left: 36pt;">One Bryant Park</div>
    <div style="margin-left: 36pt;">1111 Avenue of the Americas, 3<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">rd</sup> Floor</div>
    <div style="margin-left: 36pt;">New York, New York 10036</div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="zd7e6dd809069425aa053fed3eba3fefa" class="DSPFListTable">

          <tr style="vertical-align: top;">
            <td style="width: 36pt;">&#160;</td>
            <td style="text-align: right; vertical-align: top; width: 72pt;">
              <div style="text-align: left;">Attention:</div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div>Thomas Visone</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-left: 108pt;">Mary Ann Olson</div>
    <div style="margin-left: 108pt;">Todd Blasiak</div>
    <div style="margin-left: 108pt;">Michael Jentis</div>
    <div style="margin-left: 108pt;">Lisa Irizarry</div>
    <div style="margin-left: 108pt;">Carl Daniels</div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="zcb2393fd71b041bbabf177019d48932e" class="DSPFListTable">

          <tr style="vertical-align: top;">
            <td style="width: 36pt;">&#160;</td>
            <td style="text-align: right; vertical-align: top; width: 72pt;">
              <div style="text-align: left;">Telephone:</div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div>(212) 449-7358</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="zf5eb0d725e024f6c82b6f3185bcfaed5" class="DSPFListTable">

          <tr style="vertical-align: top;">
            <td style="width: 36pt;">&#160;</td>
            <td style="text-align: right; vertical-align: top; width: 72pt;">
              <div style="text-align: left;">Email:</div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div>thomas.visone@bofa.com</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-left: 108pt;">mary.ann.olson@bofa.com</div>
    <div style="margin-left: 108pt;">todd.blasiak@bofa.com</div>
    <div style="margin-left: 108pt;">lisa.m.irizarry@bofa.com</div>
    <div style="margin-left: 108pt;">michael.jentis@bofa.com</div>
    <div style="margin-left: 108pt;">carl.daniels@bofa.com</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">9</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="margin-left: 36pt;">if to the Trustee:</div>
    <div>&#160;</div>
    <div style="margin-left: 36pt;">Lord Securities Corporation</div>
    <div style="margin-left: 36pt;">48 Wall Street</div>
    <div style="margin-left: 36pt;">New York, New York 10005</div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z6501fbc843b84ae188de621da28ba7b5" class="DSPFListTable">

          <tr style="vertical-align: top;">
            <td style="width: 36pt;">&#160;</td>
            <td style="text-align: right; vertical-align: top; width: 72pt;">
              <div style="text-align: left;">Attention:</div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div>Albert Fioravanti</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z118ecc89b1ce48a9abb3ea80fa5d593d" class="DSPFListTable">

          <tr style="vertical-align: top;">
            <td style="width: 36pt;">&#160;</td>
            <td style="text-align: right; vertical-align: top; width: 72pt;">
              <div style="text-align: left;">Telephone:</div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div>(212) 346-9000</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
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          <tr style="vertical-align: top;">
            <td style="width: 36pt;">&#160;</td>
            <td style="text-align: right; vertical-align: top; width: 72pt;">
              <div style="text-align: left;">Email:</div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div>albert.fioravanti@tmf-group.com</div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div style="margin-left: 36pt;">if to the Voting Consultant:</div>
    <div>&#160;</div>
    <div style="margin-left: 36pt;">Institutional Shareholder Services Inc.</div>
    <div style="margin-left: 36pt;">1177 Avenue of the Americas, 2<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">nd</sup> floor</div>
    <div style="margin-left: 36pt;">New York, New York 10036</div>
    <div>
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          <tr style="vertical-align: top;">
            <td style="width: 36pt;">&#160;</td>
            <td style="text-align: right; vertical-align: top; width: 72pt;">
              <div style="text-align: left;">Attention:</div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div>Lorraine Kelly, Executive Director</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
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          <tr style="vertical-align: top;">
            <td style="width: 36pt;">&#160;</td>
            <td style="text-align: right; vertical-align: top; width: 72pt;">
              <div style="text-align: left;">Telephone:</div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div>646-680-6355</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z1b6d4cfb3d9f444ea8dc0fe2d8edf86f" class="DSPFListTable">

          <tr style="vertical-align: top;">
            <td style="width: 36pt;">&#160;</td>
            <td style="text-align: right; vertical-align: top; width: 72pt;">
              <div style="text-align: left;">Email:</div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div>lorraine.kelly@issgovernance.com</div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div style="margin-left: 36pt;">with a copy to:</div>
    <div>&#160;</div>
    <div style="margin-left: 36pt;">Institutional Shareholder Services Inc.</div>
    <div style="margin-left: 36pt;">702 King Farm Blvd., Suite 400</div>
    <div style="margin-left: 36pt;">Rockville, Maryland 20850</div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z1509f0b7bf0a45039965b2cf7e741e0c" class="DSPFListTable">

          <tr style="vertical-align: top;">
            <td style="width: 36pt;">&#160;</td>
            <td style="text-align: right; vertical-align: top; width: 72pt;">
              <div style="text-align: left;">Attention:</div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div>General Counsel</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
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          <tr style="vertical-align: top;">
            <td style="width: 36pt;">&#160;</td>
            <td style="text-align: right; vertical-align: top; width: 72pt;">
              <div style="text-align: left;">Telephone:</div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div>301-556-0420</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="zcad348b3cae0428cb4f1c485569b3aab" class="DSPFListTable">

          <tr style="vertical-align: top;">
            <td style="width: 36pt;">&#160;</td>
            <td style="text-align: right; vertical-align: top; width: 72pt;">
              <div style="text-align: left;">Email:</div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div>steven.friedman@issgovernance.com</div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">14.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Modification</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">No modification of this Agreement shall be effective unless in writing and signed by all of the parties hereto.&#160; Without the prior written consent of the Issuer (in its sole discretion), the
      Purchaser will not agree or consent to any amendment, supplement, modification or repeal of this Agreement, nor waive any provision hereof; <font style="font-style: italic;">provided</font>, that in the case of any proposed amendment, supplement,
      modification or repeal of this Agreement which is a result of a change in law or regulation, the consent of the Issuer shall not be unreasonably withheld or delayed.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">15.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Benefit and Burden</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">This Agreement shall inure to the benefit of, and shall be binding upon, the parties hereto and their legatees, distributees, estates, executors or administrators, personal and legal representatives,
      successors and assigns.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">10</font></div>
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        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">16.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Severability</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">The invalidity of any particular provision of this Agreement shall not affect the validity of the remainder hereof, and this Agreement shall be construed in all respects as if such invalid or
      unenforceable provision were omitted.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">17.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Headings</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">The section headings herein are for convenience of reference only, and shall not affect the construction, or limit or otherwise affect the meaning hereof.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">18.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Applicable Law</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">This Agreement shall be construed and enforced in accordance with and governed by the law of the State of New York.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">THE PARTIES HERETO HEREBY SUBMIT TO THE EXCLUSIVE JURISDICTION OF FEDERAL AND NEW YORK STATE COURTS OF COMPETENT JURISDICTION LOCATED IN NEW YORK COUNTY, NEW YORK IN CONNECTION WITH ANY DISPUTE
      RELATED TO THIS AGREEMENT OR ANY MATTERS CONTEMPLATED HEREBY.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">19.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Waiver</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">THE PURCHASER, THE TRUSTEE AND THE VOTING CONSULTANT HEREBY WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY ANY OF THE PARTIES HERETO AGAINST THE OTHER(S) ON ANY MATTERS
      WHATSOEVER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS AGREEMENT.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">20.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Assignment</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">None of the parties hereto may assign or otherwise transfer any of its rights or obligations under this Agreement without the prior written consent of the other parties; <font style="font-style: italic;">provided</font> that, without the consent of either the Trustee or the Voting Consultant, the Purchaser may assign its rights and obligations under this Agreement (i) to an Affiliate, (ii) to a successor entity following a consolidation,
      amalgamation with, or merger with or into or (iii) to a transferee that acquires all or substantially all of the Purchaser&#8217;s assets.&#160; Any assignment other than in accordance with this section shall be void.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">21.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Conflicts with Other Documents</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">In the event that this Agreement requires any action to be taken with respect to any matter and the Master Agreement requires that a different action be taken with respect to such matter, and such
      actions are mutually exclusive, the provisions of this Agreement in respect thereof shall control.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">11</font></div>
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        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">22.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Counterparts</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">This Agreement may be executed by the parties hereto in any number of separate counterparts, each of which shall be deemed to be an original, and all of which taken together shall be deemed to
      constitute one and the same instrument.&#160; Any counterpart or other signature delivered by facsimile or by electronic mail shall be deemed for all purposes as being a good and valid execution and delivery of this Agreement by that party.</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">[The rest of this page has been intentionally left blank]</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">12</font></div>
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        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">IN WITNESS WHEREOF</font>, the parties hereto have executed this Agreement as of the date first set forth above.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" id="ze381ec311cec48e183a147eac0e31c05" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

        <tr>
          <td style="width: 99.9%; vertical-align: top;">
            <div>BANC OF AMERICA PREFERRED FUNDING CORPORATION, as Purchaser</div>
          </td>
        </tr>
        <tr>
          <td style="width: 99.9%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 99.9%; vertical-align: top;">
            <div>By: <u>/s/ Thomas Visone</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 99.9%; vertical-align: top;">
            <div>Name: Thomas Visone</div>
          </td>
        </tr>
        <tr>
          <td style="width: 99.9%; vertical-align: top;">
            <div>Title: Authorized Signatory</div>
          </td>
        </tr>
        <tr>
          <td style="width: 99.9%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 99.9%; vertical-align: top;">
            <div>LORD SECURITIES CORPORATION, as Trustee</div>
          </td>
        </tr>
        <tr>
          <td style="width: 99.9%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 99.9%; vertical-align: top;">
            <div>By: <u>/s/ Albert Fioravanti</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 99.9%; vertical-align: top;">
            <div>Name: Albert Fioravanti</div>
          </td>
        </tr>
        <tr>
          <td style="width: 99.9%; vertical-align: top;">
            <div>Title: Managing Director</div>
          </td>
        </tr>
        <tr>
          <td style="width: 99.9%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 99.9%; vertical-align: top;">
            <div>INSTITUTIONAL SHAREHOLDER SERVICES INC., as Voting Consultant</div>
          </td>
        </tr>
        <tr>
          <td style="width: 99.9%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 99.9%; vertical-align: top;">
            <div>By: <u>/s/ Allen Heery</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 99.9%; vertical-align: top;">
            <div>Name: Allen Heery</div>
          </td>
        </tr>
        <tr>
          <td style="width: 99.9%; vertical-align: top;">
            <div>Title: CFO</div>
          </td>
        </tr>

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    <div><br>
    </div>
    <div style="text-align: center; font-style: italic;">[Signature Page to DSM Voting Trust Agreement]</div>
    <div style="text-align: center; font-style: italic;"> <br>
    </div>
    <div style="text-align: center; font-style: italic;"> <br>
    </div>
    <div style="text-align: center; font-style: italic;">
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>brhc20056072_ex99-4.htm
<DESCRIPTION>EXHIBIT 99.4
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Finacial Solutions inc.
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  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 99.4</font><br>
  </div>
  <div> <br>
  </div>
  <div>
    <div style="font-weight: bold;">VMTP Purchase Agreement</div>
    <div>&#160;</div>
    <div style="font-weight: bold;">BNY Mellon Strategic Municipal Bond Fund, Inc.</div>
    <div style="font-weight: bold;">as Issuer</div>
    <div>&#160;</div>
    <div style="font-weight: bold;">and</div>
    <div>&#160;</div>
    <div style="font-weight: bold;">Banc of America Preferred Funding Corporation</div>
    <div style="font-weight: bold;">as Purchaser</div>
    <div>&#160;</div>
    <div style="font-weight: bold;">July 12, 2023</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
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    <div style="text-align: center; font-weight: bold;">TABLE OF CONTENTS</div>
    <div style="text-align: center; font-weight: bold;"> <br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zc8fe215ca6294a24bc80475ae906650c">

        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify;">SECTION</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: center;">HEADING</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">PAGE</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-variant: small-caps;">ARTICLE I</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-variant: small-caps;">DEFINITIONS</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; font-variant: small-caps;">1</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">1.1</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Incorporation of Certain Definitions by Reference and Interpretation</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">6</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-variant: small-caps;">ARTICLE II</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-variant: small-caps;">PURCHASE AND TRANSFERS, COSTS AND EXPENSES; ADDITIONAL FEE</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; font-variant: small-caps;">6</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">2.1</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Purchase and Transfer of the VMTP Shares</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">6</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">2.2</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Fees</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">8</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">2.3</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Operating Expenses</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: right;">8</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">2.4</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Additional Fee for Failure to Comply with Reporting Requirement or Registration Rights Failure</div>
          </td>
          <td style="width: 10%; vertical-align: top; text-align: right;">8</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td rowspan="1" style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-variant: small-caps;">ARTICLE III</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="font-variant: small-caps;">CONDITIONS TO EFFECTIVE DATE</div>
          </td>
          <td style="width: 10%; vertical-align: top; text-align: right;">9</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td rowspan="1" style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-variant: small-caps;">ARTICLE IV</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="font-variant: small-caps;">REPRESENTATIONS AND WARRANTIES OF THE ISSUER</div>
          </td>
          <td style="width: 10%; vertical-align: top; text-align: right;">10</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td rowspan="1" style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">4.1</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Existence</div>
          </td>
          <td style="width: 10%; vertical-align: top; text-align: right;">10</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">4.2</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Authorization; Contravention</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">11</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">4.3</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Binding Effect</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">11</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">4.4</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Financial Information</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">11</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">4.5</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Litigation</div>
          </td>
          <td style="width: 10%; vertical-align: top; text-align: right;">11</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">4.6</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Consents</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">12</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">4.7</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Incorporation of Additional Representations and Warranties</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">12</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">4.8</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Complete and Correct Information</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">12</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">4.9</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>1940 Act Registration</div>
          </td>
          <td style="width: 10%; vertical-align: top; text-align: right;">12</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">4.10</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Effective Leverage Ratio; Asset Coverage</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: right;">12</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">4.11</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Credit Quality</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">13</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">4.12</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Due Diligence</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">13</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">4.13</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Certain Fees</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">13</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">4.14</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Eligible Assets</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: right;">13</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">4.15</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Capitalization</div>
          </td>
          <td style="width: 10%; vertical-align: top; text-align: right;">13</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td rowspan="1" style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-variant: small-caps;">ARTICLE V</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="font-variant: small-caps;">REPRESENTATIONS AND WARRANTIES OF THE PURCHASER</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-variant: small-caps;">14</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td rowspan="1" style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">5.1</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Existence</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">14</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">5.2</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Authorization; Contravention</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">14</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">5.3</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Binding Effect</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">14</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">5.4</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Own Account</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: right;">14</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">5.5</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Litigation</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">15</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">5.6</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Consents</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">15</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">5.7</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Purchaser Status</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">15</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">5.8</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Certain Transactions</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">15</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">5.9</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Certain Fees</div>
          </td>
          <td style="width: 10%; vertical-align: top; text-align: right;">15</td>
        </tr>

    </table>
    <div><br>
    </div>
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        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">5.10</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Experience of the Purchaser</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: right;">15</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">5.11</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Due Diligence</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">16</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">5.12</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Access to Information</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">16</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-variant: small-caps;">ARTICLE VI</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-variant: small-caps;">COVENANTS OF THE ISSUER</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; font-variant: small-caps;">16</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">6.1</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Information</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: right;">16</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">6.2</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>No Amendment or Certain Other Actions Without Consent of the Purchaser</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">19</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">6.3</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Maintenance of Existence</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: right;">19</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">6.4</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Tax Status of the Issuer</div>
          </td>
          <td style="width: 10%; vertical-align: top; text-align: right;">19</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">6.5</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Payment Obligations</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: right;">19</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">6.6</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Compliance With Law</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">20</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">6.7</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Maintenance of Approvals: Filings, Etc.</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">20</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">6.8</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Inspection Rights</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">20</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">6.9</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Litigation, Etc.</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: right;">20</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">6.10</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>1940 Act Registration</div>
          </td>
          <td style="width: 10%; vertical-align: top; text-align: right;">20</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">6.11</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Credit Quality</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">21</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">6.12</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Maintenance of Effective Leverage Ratio</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">21</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">6.13</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Redemption and Paying Agent</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: right;">21</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">6.14</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Cooperation in the Sale of the VMTP Shares</div>
          </td>
          <td style="width: 10%; vertical-align: top; text-align: right;">21</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">6.15</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Use of Proceeds</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">22</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">6.16</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Securities Depository</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">22</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">6.17</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Future Agreements</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">22</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">6.18</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Eligible Assets</div>
          </td>
          <td style="width: 10%; vertical-align: top; text-align: right;">22</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td rowspan="1" style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-variant: small-caps;">ARTICLE VII</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="font-variant: small-caps;">MISCELLANEOUS</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-variant: small-caps;">23</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td rowspan="1" style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td rowspan="1" style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">7.1</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Notices</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">23</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">7.2</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>No Waivers</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">24</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">7.3</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Expenses and Indemnification</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">24</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">7.4</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Amendments and Waivers</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">27</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">7.5</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Successors and Assigns</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">27</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">7.6</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Term of this Agreement</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: right;">27</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">7.7</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Governing Law</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">28</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">7.8</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Waiver of Jury Trial</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">28</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">7.9</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Counterparts</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">28</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">7.10</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Beneficiaries</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: right;">28</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">7.11</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Entire Agreement</div>
          </td>
          <td style="width: 10%; vertical-align: top; text-align: right;">28</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">7.12</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Relationship to the Articles Supplementary</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: right;">28</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">7.13</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Confidentiality</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">29</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">7.14</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Severability</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: right;">29</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">7.15</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div>Consent Rights of the Majority Participants to Certain Actions</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">30</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">ii</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

        <tr>
          <td colspan="2" rowspan="1" style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">SCHEDULE 1</div>
          </td>
          <td style="width: 10%; vertical-align: top; text-align: right; background-color: rgb(204, 238, 255);">
            <div>Schedule 1-1</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">&#160;</td>
          <td style="width: 80%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top; text-align: right;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">EXHIBIT A</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">FORMS OF OPINIONS OF COUNSEL FOR THE ISSUER</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">A-1</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify;">EXHIBIT A-1</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify;">FORM OF CORPORATE AND 1940 ACT OPINION</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">A-1-1</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">EXHIBIT A-2</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">FORM OF TAX OPINION</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">A-2-1</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify;">EXHIBIT A-3</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify;">FORM OF LOCAL COUNSEL OPINION</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">A-3-1</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">EXHIBIT A-4</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">FORM OF NEGATIVE ASSURANCE LETTER</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">A-4-1</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify;">EXHIBIT B</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify;">ELIGIBLE ASSETS</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">B-1</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">EXHIBIT C</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">TRANSFEREE CERTIFICATE</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">C-1</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify;">EXHIBIT D</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify;">ADDITIONAL REPRESENTATIONS AND WARRANTIES</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right;">D-1</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">EXHIBIT E</div>
          </td>
          <td style="width: 80%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;">CAPITALIZATION</div>
          </td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;">E-1</div>
          </td>
        </tr>

    </table>
    <div> <br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">iii</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">This VMTP PURCHASE AGREEMENT</font> dated as of July 12, 2023 (this &#8220;<font style="font-weight: bold;">Agreement</font>&#8221;), is by and between:</div>
    <div style="text-indent: 36pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">BNY MELLON STRATEGIC MUNICIPAL BOND FUND, INC.</font>, a closed-end management investment company registered with the Securities and Exchange Commission that is
      organized as a Maryland corporation, as issuer (the <font style="font-weight: bold;">&#8220;Fund&#8221;</font> or the &#8220;<font style="font-weight: bold;">Issuer</font>&#8221;) and</div>
    <div style="text-indent: 36pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">BANC OF AMERICA PREFERRED FUNDING CORPORATION</font>, a Delaware corporation, including its successors by merger or operation of law (&#8220;<font style="font-weight: bold;">BAPFC</font>&#8221;), as purchaser of the VMTP Shares (the &#8220;<font style="font-weight: bold;">Purchaser</font>&#8221;) pursuant to this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">WHEREAS</font>, the Fund has authorized the issuance pursuant to the Articles Supplementary (as defined below) to the Purchaser of the Series 2023-1 Variable Rate
      MuniFund Term Preferred Shares, issued by the Fund, as set forth on <u>Schedule 1</u> hereto, which are subject to this Agreement (the &#8220;<font style="font-weight: bold;">VMTP Shares</font>&#8221;);</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">WHEREAS</font>, as an inducement to the Purchaser to purchase the VMTP Shares, the Issuer now desires to enter into this Agreement to set forth certain
      representations, warranties, covenants and agreements regarding the Issuer and the VMTP Shares; and</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">WHEREAS</font>, as an inducement to the Issuer to issue and sell the VMTP Shares, the Purchaser desires to enter into this Agreement to set forth certain
      representations, warranties, covenants and agreements regarding the Purchaser and the VMTP Shares.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">NOW, THEREFORE</font>, in consideration of the respective agreements contained herein, the parties hereto agree as follows:</div>
    <div>&#160;</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">ARTICLE I</div>
    <div style="text-align: center; font-weight: bold;">DEFINITIONS</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The following terms, as used herein, have the following meanings:</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;1940 Act</font>&#8221; means the Investment Company Act of 1940, as amended.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Additional Amount Payment&#8221; </font>has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Agreement&#8221;</font> means this VMTP Purchase Agreement, dated as of July 12, 2023, as the same may be amended, restated, supplemented or otherwise modified from time
      to time in accordance with the terms hereof.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Applicable Sections&#8221; </font>has the meaning set forth in Section 2.1(c) of this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;APS&#8221;</font> means the Issuer&#8217;s outstanding Auction Preferred Stock.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Articles Supplementary&#8221;</font> means the Articles Supplementary, as the same may be amended, restated, supplemented or otherwise modified from time to time in
      accordance with the terms thereof and hereof.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <!--PROfilePageNumberReset%Num%2%%%-->
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Asset Coverage&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Banks&#8221;</font> has the meaning set forth in Section 2.1(b) of this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;BNYM Persons&#8221;</font> means the Investment Adviser or any affiliated person (as defined in Section 2(a)(3) of the 1940 Act) of the Investment Adviser (other than the
      Issuer, in the case of a redemption or purchase of the VMTP Shares which are to be cancelled within ten (10) days of purchase by the Issuer).</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Board of Directors&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Business Day&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;By-Laws&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Charter&#8221; </font>has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Code&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Common Shares&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Custodian&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Date of Original Issue&#8221;</font>, with respect to the VMTP Shares, means the date on which the Issuer initially issued such VMTP Shares.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Deposit Securities&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Derivative Contract&#8221;</font> means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps,
      commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, repurchase transactions, interest
      rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or
      any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related
      confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other
      master agreement, including any such obligations or liabilities under any such master agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Designated Owner&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Dividend Payment Date&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Dividend Rate&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Due Diligence Request&#8221;</font> means the due diligence request letter from Chapman and Cutler LLP, counsel to the Purchaser, dated April 12, 2023.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Effective Date&#8221;</font> means the Date of Original Issue of the VMTP Shares subject to the satisfaction or waiver of the conditions specified in Section 3 of this
      Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Effective Leverage Ratio&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Electronic Means&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Eligible Assets&#8221; </font>means the instruments in which the Issuer may invest as described in <u>Exhibit B</u> to this Agreement, which may be amended from time to
      time with the prior written consent of the Purchaser.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Failure&#8221;</font> has the meaning set forth in Section 2.4 of this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Fee Rate&#8221;</font> means initially 0.10% per annum, which shall be subject to increase by 0.10% per annum for each Week in respect of which any Failure has occurred
      and is continuing.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;</font><font style="font-weight: bold; font-style: italic;">Force Majeure</font><font style="font-weight: bold;"> Exception&#8221;</font> means any failure or delay in the
      performance of the Issuer&#8217;s reporting obligation pursuant to Section 2.4 of this Agreement arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including acts of God; earthquakes; flood; terrorism; wars
      and other military disturbances; sabotage; epidemics; riots; loss or malfunctions of utilities, computer (hardware or software) or communication services; accidents; acts of civil or military authority and governmental action.&#160; The Issuer shall use
      commercially reasonable efforts to commence performance of its obligations during any of the foregoing circumstances.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Holder&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The word <font style="font-weight: bold;">&#8220;including&#8221;</font> means &#8220;including without limitation.&#8221;</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Indemnified Persons&#8221;</font> means, the Purchaser and its affiliates and directors, officers, partners, employees, and control persons, entitled to indemnification by
      the Issuer under Section 7.3 of this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Investment Adviser&#8221;</font> means BNY Mellon Investment Adviser, Inc., or any successor company or entity.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Issuer&#8221;</font> has the meaning set forth in the preamble to this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Liquidation Preference&#8221;</font>, with respect to a given number of VMTP Shares, means $25,000 times that number.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Majority Participants&#8221;</font> means the Holder(s) of more than 50% of the Outstanding VMTP Shares.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Market Value&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Material Adverse Effect&#8221; </font>means a material adverse effect upon (i) the ability of the Issuer to perform its obligations under this Agreement or (ii) the
      source for payment of the Liquidation Preference of, or dividends on, the VMTP Shares.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">&#8220;<font style="font-weight: bold;">Municipal Securities</font>&#8221; has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;NRSRO&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Optional Redemption Premium&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The word <font style="font-weight: bold;">&#8220;or</font>&#8221; is used in its inclusive sense.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Other Rating Agency&#8221;</font> means, at any time, each NRSRO, if any, other than S&amp;P<font style="font-weight: bold;">&#160;</font>then providing a rating for the VMTP
      Shares pursuant to the request of the Issuer.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Other Rating Agency Guidelines&#8221;</font> means the guidelines provided by each Other Rating Agency, as may be amended from time to time, in connection with the Other
      Rating Agency&#8217;s rating of the VMTP Shares.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Outstanding&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Person&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Preferred Shares&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Pricing Procedures&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Purchase Price&#8221;</font> means, in respect of the 1,972 VMTP Shares sold to the Purchaser, U.S. $49,300,000.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Purchaser&#8221;</font> has the meaning set forth in the preamble to this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;QIB&#8221;</font> means a <font style="font-weight: bold;">&#8220;qualified institutional buyer&#8221;</font> as defined in Rule 144A(a) under the Securities Act.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Rate Period&#8221;</font> has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Rating Agency&#8221;</font> means each of S&amp;P (if S&amp;P is then rating the VMTP Shares at the request of the Issuer), and any Other Rating Agency (if such Other
      Rating Agency is then rating the VMTP Shares at the request of the Issuer).</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Rating Agency Guidelines&#8221;</font> means the<font style="font-weight: bold;">&#160;</font>S&amp;P Guidelines and any Other Rating Agency Guidelines as they exist from time
      to time.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Redemption and Paying Agent&#8221;</font> means The Bank of New York Mellon, or with the prior written consent of the Purchaser (which consent shall not be unreasonably
      withheld, delayed or conditioned), any successor Person, which has entered into an agreement with the Issuer to act in such capacity as the Issuer&#8217;s tender agent, transfer agent, registrar, dividend disbursing agent, paying agent and redemption price
      disbursing agent and calculation agent in connection with the payment of regularly scheduled dividends with respect to the VMTP Shares.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">4</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Registered Investment Company&#8221;</font> has the meaning set forth in Section 2.1(b) of this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Registration Rights Agreement&#8221;</font> means the registration rights agreement, dated as of July 12, 2023, entered into between the Issuer and the Purchaser with
      respect to the VMTP Shares.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Registration Rights Failure&#8221;</font> means any (i) failure by the Issuer to file a Registration Statement (as defined in the Registration Rights Agreement) with the
      Securities and Exchange Commission relating to such of the Registrable Securities (as defined in the Registration Rights Agreement, but excluding any that are properly excluded pursuant to Section 3.3(c) or (d) of the Registration Rights Agreement)
      which the Issuer has been properly requested to register under Section 3.1 of the Registration Rights Agreement within thirty (30) calendar days (or, if the thirtieth (30th) calendar day shall not be a Business Day, the next succeeding Business Day)
      of the later of (a) the date on which the holders of such Registrable Securities are required to give written notice to the Issuer of their intent to register such Registrable Securities pursuant to Section 3.1 of the Registration Rights Agreement or
      (b) if properly exercised by the Issuer, the end of any deferral period specified in accordance with the provisions of Section 3.2 of the Registration Rights Agreement, or (ii) failure by the Issuer to reply to any written comments on such
      Registration Statement received by the Issuer from the staff of the Securities and Exchange Commission (it being understood that the reply referenced herein shall not require the Issuer to accept or agree with any comment, in whole or in part) within
      thirty (30) calendar days (or, if the thirtieth (30th) calendar day shall not be a Business Day, the next succeeding Business Day) of receipt thereof by the Issuer.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Related Documents&#8221;</font> means this Agreement, the Charter, the Articles Supplementary, the Registration Rights Agreement, any certificate evidencing the VMTP
      Shares and the By-Laws.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Reporting Date&#8221; </font>has the meaning set forth in Section 6.1(o) of this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Reporting Failure&#8221;</font> has the meaning set forth in Section 2.4 of this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt; color: rgb(0, 0, 0);">&#8220;<font style="font-weight: bold;">S&amp;P</font>&#8221; means S&amp;P Global Ratings, a Standard &amp; Poor&#8217;s Financial Services LLC business, and any successor or successors thereto.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">&#8220;<font style="font-weight: bold;">S&amp;P Guidelines</font>&#8221; means the guidelines, as may be amended from time to time, in connection with S&amp;P&#8217;s ratings of the VMTP Shares.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Securities Act&#8221;</font> means the Securities Act of 1933, as amended, and the rules and regulations thereunder.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">5</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Securities Depository&#8221;</font> means The Depository Trust Company, New York, New York, and any substitute for or successor to such securities depository that shall
      maintain a book-entry system with respect to the VMTP Shares.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Sub-Adviser&#8221;</font> means Insight North America LLC, or any successor company or entity.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;VMTP Shares&#8221;</font> has the meaning set forth in the preamble to this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;Week&#8221;</font> means a period of seven (7) consecutive calendar days.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-weight: bold;">&#8220;written&#8221;</font> or <font style="font-weight: bold;">&#8220;in writing&#8221;</font> means any form of written communication, including communication by means of electronic
      mail.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb0536c8299624f019209b3f05c137ef6">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">1.1</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Incorporation of Certain Definitions by Reference and Interpretation</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">Each capitalized term used herein and not otherwise defined herein shall have the meaning provided therefor (including by incorporation by reference) in the other Related Documents.</div>
    <div>&#160;</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">ARTICLE II</div>
    <div style="text-align: center; font-weight: bold;">PURCHASE AND TRANSFERS, COSTS AND EXPENSES; ADDITIONAL FEE</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5afa91e2c9be49ef95325cda9bef6365">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">2.1</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Purchase and Transfer of the VMTP Shares</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zff7be109b46347dfaa9a05bfa0c798b7">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>On the Effective Date, BAPFC will acquire 1,972 VMTP Shares sold on initial issuance in a transaction (which, based upon the representations of the Issuer and the Purchaser herein, is exempt from registration under the Securities Act) by
              payment of the Purchase Price in immediately available funds to the Issuer through the account of its agent at the Securities Depository.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">6</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z506458e4c190420e98c0d20acfa991b2">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Purchaser agrees that it may offer, sell, transfer or otherwise dispose of the VMTP Shares in compliance with the Securities Act and applicable state securities laws only in whole shares and only (i)(1) to Persons that it reasonably
              believes are QIBs that are: (a) registered closed-end management investment companies, the shares of which are traded on a national securities exchange and registered open-end management investment companies, in each case, that invest
              primarily in municipal obligations (each, a &#8220;<font style="font-weight: bold;">Registered Investment Company</font>&#8221;); (b) banks or entities that are 100% direct or indirect subsidiaries of banks&#8217; publicly traded parent holding companies
              (collectively, &#8220;<font style="font-weight: bold;">Banks</font>&#8221;); or (c) insurance companies, in each case, pursuant to Rule 144A or another available exemption from registration under the Securities Act, in a manner not involving any public
              offering within the meaning of Section 4(a)(2) of the Securities Act, (2) to tender option bond trusts (or similar vehicles used for providing financing for municipal obligations and municipal closed-end fund preferred shares) in which all
              investors are Persons that the Purchaser reasonably believes are QIBs that are Registered Investment Companies, Banks or insurance companies (or, in the case of a tender option bond trust (or similar vehicles used for providing financing for
              municipal obligations and municipal closed-end fund preferred shares) in which the Holder or an affiliate of the Holder retains a residual interest), or (3) to other investors with the prior written consent of the Issuer and (ii) unless the
              prior written consent of each of the Issuer and the Majority Participants has been obtained, not to BNYM Persons if such BNYM Persons would, after such sale and transfer, own more than 20% of the Outstanding VMTP Shares.&#160; Any transfer in
              violation of the foregoing restrictions shall be void <font style="font-style: italic;">ab initio</font>. In the event that the Purchaser intends to transfer the VMTP Shares to a Person other than an affiliate or a tender option bond trust
              (or similar vehicles used for providing financing for municipal obligations and municipal closed-end fund preferred shares), the Purchaser shall provide written notice to the Fund, which notice shall be signed by the Purchaser, indicating the
              Purchaser&#8217;s intent to transfer the VMTP Shares and the name of the intended transferee at least three (3) Business Days in advance of the transfer; provided, that any failure to deliver such advance notice shall not void any such transfer. In
              connection with any transfer of the VMTP Shares, each transferee will be required to deliver to the Issuer a transferee certificate set forth as <u>Exhibit C</u> to this Agreement no later than the date of the transfer (excluding a tender
              option bond trust (or similar vehicles used for providing financing for municipal obligations and municipal closed-end fund preferred shares) in which the Purchaser retains a residual interest, which will not be required to deliver a
              transferee certificate).&#160; The foregoing restrictions on transfer shall not apply to any VMTP Shares registered under the Securities Act pursuant to the Registration Rights Agreement or any subsequent transfer of such registered VMTP Shares
              thereafter.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z55304980cf0248bfb5637285ff84bdf4">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>In the event that the Purchaser transfers, in accordance with Section 2.1(b) of this Agreement, VMTP Shares to a tender option bond trust (or similar vehicles used for providing financing for municipal obligations and municipal closed-end
              fund preferred shares) in which the Purchaser retains a residual interest, for so long as no event has occurred that results in the termination of such tender option bond trust (or similar vehicles used for providing financing for municipal
              obligations and municipal closed-end fund preferred shares), for purposes of each of the Applicable Sections (as defined below) that requires, permits or provides for (i) notice or the delivery of information to or (ii) voting of the VMTP
              Shares or the giving of any consent by or (iii) payment of fees, in each case, to the Purchaser or the Majority Participants, the Purchaser, and not such tender option bond trust (or similar vehicles used for providing financing for municipal
              obligations and municipal closed-end fund preferred shares), shall be deemed to be the actual owner of such VMTP Shares.&#160; For the avoidance of doubt, the deemed ownership provided for in this Section 2.1(c) shall be limited to the following
              sections of this Agreement:&#160; 2.1(b), 2.4, 6.1, 6.2, 6.8, 6.9, 6.12, 6.14, 6.17, 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.8, 7.10, 7.12 and 7.15 (collectively, the &#8220;<font style="font-weight: bold;">Applicable Sections</font>&#8221;).&#160; The deemed ownership
              provided for in this Section 2.1(c) shall last until the earliest of (A) the termination of such tender option bond trust (or similar vehicles used for providing financing for municipal obligations and municipal closed-end fund preferred
              shares); (B) the agreement by the Issuer and the Purchaser to terminate such deemed ownership; and (C) with respect to some or all of the Applicable Sections, the good-faith determination by the Purchaser that such deemed ownership has
              adverse tax, legal or other regulatory consequences or is otherwise no longer consistent with applicable law.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">7</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7d891761dc554e8280d077f8010eb56b">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(d)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Anything herein to the contrary notwithstanding, except with respect to the deemed ownership provided for above in respect of the Applicable Sections, the tender option bond trust (or similar vehicles used for providing financing for
              municipal obligations and municipal closed-end fund preferred shares) to which VMTP Shares are transferred and each of the beneficial owners thereof shall retain all of its other rights in respect of the Issuer and the VMTP Shares pursuant to
              this Agreement and the Articles Supplementary or under law, including, for the avoidance of doubt, its rights under any of the Applicable Sections to the extent necessary for the protection or exercise of such other rights retained pursuant
              to this Section 2.1(d) of this Agreement or that are otherwise applicable as a result of the exercise of such other rights.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z181b2b08896e4c0a8a1f58bd5e3ee7f3">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">2.2</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Fees</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z13fd5051e574468c86293973e5216587">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Within thirty (30) days of invoicing, the Issuer shall pay the reasonable fees and expenses of the Purchaser&#8217;s single outside counsel in connection with (i) the negotiation and documentation of the transactions contemplated by this
              Agreement and (ii) the initial organization and set up of a voting trust to be formed with respect to the VMTP Shares.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb74209daba084080ba33733095ed2cac">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Issuer shall pay the fees and expenses incurred by the Purchaser in connection with both the initial set up and organization and the annual maintenance of the voting trust to be formed with respect of the VMTP Shares, such amount not
              to exceed $15,000 on an annual basis.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za508c001ff5e4ce682e91441188dc710">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top;">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>With respect to the fees and expenses described in subsection (b) of this Section 2.2, the Issuer will pay such fees and expenses within thirty (30) days of receipt of the associated invoice. For avoidance of doubt, the Issuer&#8217;s
              responsibilities with respect to the fees and expenses described in subsections (a)(ii) and (b) are exclusive of each other.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z55de9ba176b6463599d440e6ce75e93d">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">2.3</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Operating Expenses</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer shall pay amounts due to be paid by it hereunder (including any incidental expenses but not including redemption or dividend payments on the VMTP Shares) as operating expenses.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z39ff9241407a4cd0bf70a90043a059a7">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">2.4</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Additional Fee for Failure to Comply with Reporting Requirement or Registration Rights Failure</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze2bec28c7d3c41159a44ff61ce11572e">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>For so long as the Purchaser is a Holder or Designated Owner of any Outstanding VMTP Shares, if the Issuer fails to comply with the reporting requirements set forth in Sections 6.1(o) and 6.1(p) of this Agreement (except as a result of a <font style="font-style: italic;">Force Majeure</font> Exception) and such failure is not cured within seven (7) Business Days after written notification to the Issuer by the Purchaser of such failure (a &#8220;<font style="font-weight: bold;">Reporting


                Failure</font>&#8221;) or a Registration Rights Failure occurs, and such failure is not cured within seven (7) Business Days after written notification to the Issuer by the Purchaser of such failure, the Issuer shall pay to the Purchaser on the
              Dividend Payment Date occurring in the month immediately following a month in which either such Reporting Failure or Registration Rights Failure (either, a &#8220;<font style="font-weight: bold;">Failure</font>&#8221;) continues a fee, calculated in
              respect of each Week (or portion thereof) during such month in respect of a Failure and beginning on the date of such Failure, equal to the product of (i) the Fee Rate, times (ii) the aggregate average daily Liquidation Preference of the VMTP
              Shares held by the Purchaser during such Week or portion thereof, times (iii) the quotient of the number of days in such Week or portion thereof divided by the number of calendar days in the year in which such Week or portion thereof occurs.&#160;
              <font style="font-weight: bold;">If such fee is an &#8220;other distribution&#8221; pursuant to the Articles Supplementary, such fee shall be paid pursuant to and in accordance with the Articles Supplementary, including Section</font>&#160;<font style="font-weight: bold;">2.2(c) of the Articles Supplementary.&#160; </font>Notwithstanding the foregoing, in no event shall (i) the fee payable pursuant to this Section 2.4 hereunder for any Week plus the Applicable Spread on the VMTP Shares
              for such Week exceed an amount (exclusive of any Additional Amount Payment) equal to the product of (x) 15%, times (y) the aggregate average daily Liquidation Preference of the VMTP Shares held by the Purchaser during such Week or portion
              thereof, times (z) the quotient of the number of days in such Week or portion thereof divided by the number of calendar days in the year in which such Week or portion thereof occurs; (ii) the fee payable pursuant to this Section 2.4 for any
              Week plus the amount of dividends payable at the Dividend Rate for the VMTP Shares for such Week exceed an amount equal to the product of (aa) 15%, times (bb) the aggregate average daily Liquidation Preference of the VMTP Shares held by the
              Purchaser during such Week or portion thereof, times (cc) the quotient of the number of days in such Week or portion thereof divided by the number of calendar days in the year in which such Week or portion thereof occurs; or (iii) the Issuer
              be required to calculate or pay a fee in respect of more than one Failure in any Week.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">8</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z224a78c49c4c412d925e3c4de3be1546">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Notwithstanding the foregoing, in no event shall (i) the fee payable pursuant to this Section 2.4 for any day plus the Dividend Rate for the VMTP Shares for such day exceed 15%, (ii) the Issuer be required to calculate and pay a fee, in
              respect of more than one Failure in any Week, or (iii) the fee payable pursuant to this Section 2.4 be payable with respect to any portion of a Week in which such Failure is not continuing.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">ARTICLE III</div>
    <div style="text-align: center; font-weight: bold;">CONDITIONS TO EFFECTIVE DATE</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">It shall be a condition to the Effective Date that each of the following conditions shall have been satisfied or waived as of or on such date, and upon such satisfaction or waiver, this Agreement
      shall be effective:</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbbd26638673c47068ee7d1b4dd908600">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>this Agreement shall have been duly executed and delivered by the parties hereto;</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">9</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z134d88a89b764a3d8aabb886f20350c6">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the VMTP Shares shall have a long-term issue credit rating of at least AA (or its equivalent) from at least one NRSRO, expected to be S&amp;P, on the Effective Date;</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze18a92dbb3af4908aabb0feb8c990296">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>receipt by the Purchaser of executed originals, or copies certified by a duly authorized officer of the Issuer to be in full force and effect and not otherwise amended, of all Related Documents, as in effect on the Effective Date, and an
              incumbency certificate with respect to the authorized signatories thereto;</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc6e36507784a46f98ada422c84be7307">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(d)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>receipt by the Purchaser of opinions of counsel for the Issuer, substantially to the effect of <u>Exhibit A</u>;</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4d4ae891f0d6478faa26f35ec318a3da">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(e)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>except as otherwise disclosed to the Purchaser, there shall not be any pending or overtly threatened material litigation against the Issuer (unless such pending or threatened litigation has been determined by the Purchaser to be
              acceptable);</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6fbae516b9254513a96f0f52c7267e1f">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(f)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the fees and expenses and all other amounts payable on the Effective Date pursuant to Section 2.2(a) hereof shall have been paid;</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zda9a2791e7854f5ea88fc6b56c4f4e3b">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(g)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Purchaser, in its reasonable discretion, shall be satisfied that no change in law, rule or regulation (or their interpretation or administration), in each case, shall have occurred which will adversely affect the consummation of the
              transaction contemplated by this Agreement;</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3686e095f2724c7da8e7ca20ff2adb72">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(h)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>there shall have been delivered to the Purchaser any additional documentation and financial information, including satisfactory responses to its due diligence inquiries, as it deems relevant; and</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z770437367a1540f0b661066f39bfb659">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(i)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>there shall have been delivered to the Purchaser such information and copies of documents, approvals (if any) and records certified, where appropriate, of corporate proceedings as the Purchaser may have requested relating to the Issuer&#8217;s
              entering into and performing this Agreement and the other Related Documents to which the Issuer is a party, and the transactions contemplated hereby and thereby.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer and the Purchaser agree that consummation of the purchase and sale of the VMTP Shares pursuant to this Agreement shall constitute acknowledgment that the foregoing conditions have been
      satisfied or waived.</div>
    <div>&#160;</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">ARTICLE IV</div>
    <div style="text-align: center; font-weight: bold;">REPRESENTATIONS AND WARRANTIES OF THE ISSUER</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The representations and warranties set out in this Article IV are given hereunder by the Issuer to the Purchaser as of the Effective Date.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf1d2df4b74f5439cbc2a8ea5628bffc6">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">4.1</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Existence</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer is validly existing and in good standing as a corporation under the laws of the State of Maryland, with full right and power to issue the VMTP Shares and to execute, deliver and perform
      its obligations under this Agreement and each other Related Document, except where the failure to have such right and power would not reasonably be expected to give rise to a Material Adverse Effect.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">10</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z09b05f03c83242d9823d3e15ec02cb25">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">4.2</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Authorization; Contravention</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The execution, delivery and performance by the Issuer of this Agreement and each other Related Document are within the Issuer&#8217;s powers, have been duly authorized by all necessary action, require no
      action by or in respect of, or filing with, any governmental body, agency or official except such as have been taken or made and do not violate or contravene, or constitute a default under, any provision of applicable law, Charter, ordinance or
      regulation or of any material agreement, judgment, injunction, order, decree or other instrument binding upon the Issuer or cause the creation or imposition of any lien or encumbrance on any asset of the Issuer.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zaed7337ca97145fab250c8e0327726f7">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">4.3</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Binding Effect</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">Each of this Agreement and the Registration Rights Agreement constitutes a valid and binding agreement of the Issuer, enforceable in accordance with its terms except as (i) the enforceability thereof
      may be limited by bankruptcy, insolvency or similar laws affecting creditors&#8217; rights generally and (ii) the availability of equitable remedies may be limited by equitable or public policy principles of general applicability, it being understood that
      the enforceability of indemnification provisions may be subject to limitations imposed under applicable securities laws.&#160; The VMTP Shares have been duly authorized and, when issued upon payment therefor by the Purchaser as contemplated by this
      Agreement, will be validly issued by the Issuer and fully paid and nonassessable.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z85826aca7e9e480faaa593b8dddf248e">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">4.4</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Financial Information</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The most recent publicly available financial statements of the Issuer, and the auditors&#8217; report with respect thereto, copies of which have heretofore been furnished to the Purchaser, fairly present
      in all material respects the financial condition of the Issuer, at such date and for such period, and were prepared in accordance with accounting principles generally accepted in the United States, consistently applied (except as required or
      permitted and disclosed).&#160; Since the date of such financial statements, there has been no material adverse change in the condition (financial or otherwise) or operations of the Issuer that would reasonably be expected to have a Material Adverse
      Effect, except as otherwise disclosed to the Purchaser, other than changes in the general economy or changes affecting the market for municipal securities or investment companies generally.&#160; Any financial, budget and other projections furnished to
      the Purchaser were prepared in good faith on the basis of the assumptions stated therein, which assumptions were fair and reasonable in light of conditions existing at the time of delivery of such financial, budget or other projections.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z43a9d210d52145368515bf31070d99c6">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">4.5</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Litigation</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">Except as otherwise disclosed to the Purchaser or in a schedule delivered to the Purchaser prior to the Effective Date, no action, suit, proceeding or investigation is pending or (to the knowledge of
      the Issuer) overtly threatened in writing against the Issuer in any court or before any governmental authority which would reasonably be expected to have a Material Adverse Effect.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">11</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc1bc2b1449944a0e899decee9d7661c7">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">4.6</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Consents</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">All consents, licenses, approvals, validations and authorizations of, and registrations, validations or declarations by or with, any court or any governmental agency, bureau or agency required to be
      obtained by the Issuer in connection with the execution, delivery, performance, validity or enforceability of this Agreement and the other Related Documents by or against the Issuer have been obtained and are in full force and effect, except to the
      extent that the failure to make or obtain the same would not reasonably be expected to give rise to a Material Adverse Effect.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z06a4ae7d5c6049b39260cdf7cffc3a7f">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">4.7</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Incorporation of Additional Representations and Warranties</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">As of the Effective Date, the Issuer hereby makes to the Purchaser the representations and warranties included in <u>Exhibit D</u> hereto, which representations and warranties are hereby
      incorporated by reference herein.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z21eca273d14f4811bbff76fba022e29f">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">4.8</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Complete and Correct Information</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">All information, reports and other papers and data with respect to the Issuer furnished to the Purchaser by the Issuer (other than financial information, financial statements, budgets and
      projections, which are covered solely by Section 4.4 of this Agreement) were, at the time the same were so furnished, complete and correct in all material respects.&#160; No fact is known to the Issuer that materially and adversely affects or in the
      future may (so far as it can reasonably foresee) materially and adversely affect the VMTP Shares, or the Issuer&#8217;s ability to repay when due its obligations under this Agreement, any of the VMTP Shares and the other Related Documents that has not been
      set forth in the financial information and other documents referred to in Section 4.4 or this Section 4.8 of this Agreement or in such information, reports, papers and data otherwise made available or disclosed in writing to the Purchaser.&#160; Taken as
      a whole, the documents furnished and statements made by the Issuer in connection with the negotiation, preparation or execution of this Agreement and the other Related Documents do not contain untrue statements of material facts or omit to state
      material facts necessary to make the statements contained therein, in light of the circumstances under which they were made, not misleading.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za3a8ecdd866b4c069ff59cd2930363b4">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">4.9</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">1940 Act Registration</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer is duly registered as a closed-end management investment company under the 1940 Act and such registration is in full force and effect.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z16f7ef4b9ed5497aa87e909c1715489b">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">4.10</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Effective Leverage Ratio; Asset Coverage</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">As of the Effective Date, the Issuer is in compliance with the Effective Leverage Ratio and the Asset Coverage as required by Section 2.4 of the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">In connection with calculating the Effective Leverage Ratio, the Issuer&#8217;s total assets and accrued liabilities reflect the positive or negative net obligations of the Issuer under each Derivative
      Contract determined in accordance with the Issuer&#8217;s valuation policies.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">12</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc4fc8ab6a4e74c1f84eb3cdc1ae123eb">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">4.11</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Credit Quality</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">As of the Effective Date, the Issuer (i) has invested at least 80% of its Fund Assets in investment grade quality Municipal Securities that, at the time of investment, were rated within the four
      highest grades (Baa<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">3</sub> or BBB- or better) by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable credit quality by the Sub-Adviser; and (ii) has invested no more than 17% of its Fund Assets in
      Municipal Securities that at the time of investment were rated below investment grade or were unrated but judged to be of comparable credit quality by the Sub-Adviser, provided that the Issuer has invested less than 1% of the Issuer&#8217;s Fund Assets in
      Municipal Securities that were rated below B<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">3</sub>/B- by an NRSRO or that were unrated but judged to be of comparable credit quality by the Investment Adviser.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0a15d0b55126408791c7a2306acb0766">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">4.12</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Due Diligence</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer understands that nothing in this Agreement or any other materials presented to the Issuer in connection with the purchase and sale of the VMTP Shares constitutes legal, tax or investment
      advice from the Purchaser.&#160; The Issuer has consulted such legal, tax and investment advisors as it, in its sole discretion, has deemed necessary or appropriate in connection with its sale of the VMTP Shares.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb8fcb1efc138443db7b5052ae7887a87">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">4.13</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Certain Fees</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer acknowledges that, other than the fees and expenses payable pursuant to this Agreement, no brokerage or finder&#8217;s fees or commissions are or will be payable by the Issuer or, to the
      Issuer&#8217;s knowledge, by the Purchaser to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated by this Agreement.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z885c89f8268246fb93a47217d574f7db">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">4.14</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Eligible Assets</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">As of the Effective Date, the Issuer owns only Eligible Assets, as described in <u>Exhibit B</u> to this Agreement.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zdbc9aa8a35124c75a8d4e05f1aab4fdc">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">4.15</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Capitalization</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Preferred Shares capitalization of the Fund as of the date of this Agreement after giving effect to the transactions contemplated by this Agreement is set forth in <u>Exhibit E</u> hereto.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">13</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">ARTICLE V</div>
    <div style="text-align: center; font-weight: bold;">REPRESENTATIONS AND WARRANTIES OF THE PURCHASER</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Purchaser represents and warrants with respect to itself, as of the date hereof and as of the Effective Date to the Issuer as follows:</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1ce8a688f1ce4cdc90a3cc5bbbf8a605">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">5.1</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Existence</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Purchaser is validly existing and in good standing as a corporation under the laws of the State of Delaware, and the Purchaser has full right and power to purchase the VMTP Shares and to execute,
      deliver and perform its obligations under this Agreement and each other Related Document to which it is a party, except where the failure to have such right and power would not reasonably be expected to give rise to a Material Adverse Effect.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6ee2669f82004502a980ddd22985c619">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">5.2</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Authorization; Contravention</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The execution, delivery and performance by the Purchaser of this Agreement and each other Related Document to which it is a party are within the Purchaser&#8217;s powers, have been duly authorized by all
      necessary action, require no action by or in respect of, or filing with, any governmental body, agency or official except such as have been taken or made, and do not violate or contravene, or constitute a default under, any provision of applicable
      law, Charter, ordinance or regulation or of any material agreement, judgment, injunction, order, decree or other instrument, in each case applicable to or binding upon the Purchaser.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z99ca3b4e1cdb45229eedf0cc644966ca">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">5.3</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Binding Effect</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">Each of this Agreement and the Registration Rights Agreement constitutes a valid and binding agreement of the Purchaser, enforceable in accordance with its terms except as (i) the enforceability
      thereof may be limited by bankruptcy, insolvency or similar laws affecting creditors&#8217; rights generally and (ii) the availability of equitable remedies may be limited by equitable or public policy principles of general applicability, it being
      understood that the enforceability of indemnification provisions may be subject to limitations imposed under applicable securities laws.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za4a775cb9790446fb3e48e16859f65d9">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">5.4</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Own Account</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Purchaser understands that the VMTP Shares are &#8220;restricted securities&#8221; as defined in Rule 144 promulgated under the Securities Act and have not been registered under the Securities Act or any
      applicable state securities laws and are subject to restrictions on the sale and transferability applicable to restricted securities.&#160; The Purchaser is acquiring the VMTP Shares as principal for its own account and not with a view to or for the
      purpose of distributing or reselling such securities or any part thereof in violation of the Securities Act or any applicable state securities law, has no present intention of distributing any of such VMTP Shares in violation of the Securities Act or
      any applicable state securities law and has no direct or indirect arrangement or understandings with any other persons to distribute or regarding the distribution of such VMTP Shares in violation of the Securities Act or any applicable state
      securities law (this representation and warranty not limiting the Purchaser&#8217;s right to register the VMTP Shares under the Securities Act pursuant to the Registration Rights Agreement or otherwise transfer the VMTP Shares in compliance with the
      transfer limitations of this Agreement in compliance with applicable federal and state securities laws).</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">14</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zeec8a4dd232d40a584fa7e4ba2e0d707">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">5.5</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Litigation</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">Except as disclosed in a schedule delivered to the Issuer prior to the Effective Date, no action, suit, proceeding or investigation is pending or (to the knowledge of the Purchaser) overtly
      threatened in writing against the Purchaser in any court or before any governmental authority in any way contesting or, if decided adversely, would affect the validity of this Agreement.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z163d4da05cb64a03ab7c77bdca31912b">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">5.6</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Consents</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">All consents, licenses, approvals, validations and authorizations of, and registrations, validations or declarations by or with, any court or any governmental agency, bureau or agency required to be
      obtained by the Purchaser in connection with the execution, delivery, performance, validity or enforceability of this Agreement by or against the Purchaser and the purchase of the VMTP Shares have been obtained and are in full force and effect,
      except to the extent that the failure to make or obtain the same would not reasonably be expected to give rise to a Material Adverse Effect.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0cd614002036436788120219baece3a6">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">5.7</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Purchaser Status</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">At the time the Purchaser was offered the VMTP Shares, it was, and as of the Effective Date it is:&#160; (i) an &#8220;accredited investor&#8221; as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7) or (a)(8) under
      the Securities Act and (ii) a QIB.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7a251a45c28a4c32af89c8c8f152a4d3">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">5.8</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Certain Transactions</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">Other than consummating the transactions contemplated by this Agreement, the Purchaser has not directly or indirectly executed, nor has any Person acting on behalf of the Purchaser, or pursuant to
      any understanding with the Purchaser executed, any other purchases of securities of the Issuer which may be integrated with the transactions contemplated by this Agreement.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zcbaf7c4d584b427fa10a8560c5cbdbe6">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">5.9</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Certain Fees</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Purchaser acknowledges that, other than the fees and expenses payable pursuant to this Agreement, no brokerage or finder&#8217;s fees or commissions are or will be payable by the Purchaser or, to the
      Purchaser&#8217;s knowledge, by the Issuer to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated by this Agreement.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7f74fe84f9d74d5db8313427b3bcdb6b">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">5.10</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Experience of the Purchaser</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Purchaser has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the VMTP
      Shares, and has so evaluated the merits and risks of such investment.&#160; The Purchaser is able to bear the economic risk of an investment in the VMTP Shares and, at the present time, is able to afford a complete loss of such investment.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">15</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0fde3241a7dc4b628174d5a02d8376cd">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">5.11</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Due Diligence</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Purchaser acknowledges that it has sole responsibility for its own due diligence investigation and its own investment decision relating to the VMTP Shares.&#160; The Purchaser understands that nothing
      in this Agreement or any other materials presented to the Purchaser in connection with the purchase and sale of the VMTP Shares constitutes legal, tax or investment advice from the Issuer.&#160; The Purchaser has consulted such legal, tax and investment
      advisors as it, in its sole discretion, has deemed necessary or appropriate in connection with its purchase of the VMTP Shares.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z02cfe3674d0f441fb34b1db1114d0c1c">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">5.12</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Access to Information</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Purchaser acknowledges that it has had access to and has reviewed all information, documents and records that Purchaser has deemed necessary in order to make an informed investment with respect
      to its investment in the VMTP Shares.&#160; The Purchaser has had the opportunity to ask representatives of the Issuer certain questions and request certain additional information regarding the terms and conditions of such investment and the finances,
      operations, business and prospects of the Issuer and has had any and all such questions and requests answered to the Purchaser&#8217;s satisfaction; and the Purchaser understands the risk and other considerations relating to such investment.</div>
    <div>&#160;</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">ARTICLE VI</div>
    <div style="text-align: center; font-weight: bold;">COVENANTS OF THE ISSUER</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer agrees that, so long as there is any amount payable hereunder or the Purchaser owns any Outstanding VMTP Shares:</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5be8ea7a76ee49b48e6304b0c8b11829">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">6.1</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Information</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">Without limitation of the other provisions of this Agreement, the Issuer will deliver, or direct the Redemption and Paying Agent to deliver, to the Purchaser:</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9d9fe1e4207a47e58bd4fb994f02d4e6">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>as promptly as practicable after the preparation and filing thereof with the Securities and Exchange Commission, each annual and semi-annual report prepared with respect to the Issuer, which delivery may be made by notice of the electronic
              availability of any such document on a public website;</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
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            <div>notice of any change in (including being put on Credit Watch or Watchlist), or suspension or termination of, the rating on the VMTP Shares by any Rating Agency (and any corresponding change in the Rating Agency Guidelines applicable to the
              VMTP Shares associated with any such change in the rating from any Rating Agency) or any change of a Rating Agency rating the VMTP Shares as promptly as practicable upon the occurrence thereof;</div>
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    <div>&#160;</div>
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            <div>notice of any redemption or other repurchase of any or all of the VMTP Shares as provided in the Articles Supplementary;</div>
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    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">16</font></div>
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            <div>notice of any proposed amendments to any of the Related Documents at such time as the amendments are sent to other parties (other than the Board of Directors) whose approval is required for such amendment and in any event not less than ten
              (10) Business Days prior to the effectiveness of any proposed amendment and copies of all actual amendments thereto within ten (10) Business Days of being signed or, in each case, as provided in the relevant document;</div>
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    <div>&#160;</div>
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            <div>notice of any missed, reduced or deferred dividend payment on the VMTP Shares that remains uncured for more than three (3) Business Days as soon as reasonably practicable, but in no event later than one (1) Business Day after expiration of
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    <div>&#160;</div>
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            <div>notice of the failure to make any deposit provided for under Section 2.4(d) of the Articles Supplementary in respect of a properly noticed redemption as soon as reasonably practicable, but in no event later than two (2) Business Days after
              discovery of such failure to make any such deposit;</div>
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    </table>
    <div>&#160;</div>
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            <div>notice of material non-compliance with the Rating Agency Guidelines (if applicable) for more than five (5) consecutive Business Days as soon as reasonably practicable, but in no event later than one (1) Business Day after expiration of the
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    </table>
    <div>&#160;</div>
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          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(h)</td>
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            <div>notice of the distribution of net capital gains or ordinary income one (1) Business Day in advance of the Rate Period that such net capital gains or ordinary income will or may be distributed, in addition to any notice the Redemption and
              Paying Agent provides to Designated Owners or their Agent Members;</div>
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    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zdfd7c7fd258f41499a8f9e87fa1319cc">

        <tr>
          <td style="width: 36pt;"><br>
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          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>notice of any change to any investment adviser or sub-adviser of the Issuer within five (5) Business Days after a resignation or a notice of removal has been sent by or to any investment adviser or sub-adviser;</div>
          </td>
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    </table>
    <div>&#160;</div>
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          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(j)</td>
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            <div>notice of any proxy solicitation of stockholders by the Issuer, which may be satisfied by the delivery of the proxy statement itself, as soon as reasonably practicable, but in no event later than five (5) Business Days after mailing
              thereof to all stockholders;</div>
          </td>
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    <div>&#160;</div>
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          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(k)</td>
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            <div>notice no later than two (2) Business Days after the occurrence thereof of (i) the failure of the Issuer to pay the amount due on any &#8220;senior securities&#8221; (as defined under the 1940 Act) or other debt issued by the Issuer at the time
              outstanding after any period of grace or cure with respect thereto shall have expired; (ii) the failure of the Issuer to pay, or admitting in writing its inability to pay, its debts generally as they become due; or (iii) the failure of the
              Issuer to pay accumulated dividends on any additional preferred stock ranking <font style="font-style: italic;">pari passu</font> with the VMTP Shares, after any period of grace or cure with respect thereto shall have expired;</div>
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    </table>
    <div>&#160;</div>
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        <tr>
          <td style="width: 36pt;"><br>
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          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(l)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>notice of a material breach of any representation, warranty or covenant of the Issuer contained in this Agreement or the Registration Rights Agreement or any material violation of the terms of the Articles Supplementary, in each case, only
              if any officer of the Issuer has actual knowledge of such breach or violation, as soon as reasonably practicable, but in no event later than five (5) Business Days, after actual knowledge of any officer of the Issuer thereof;</div>
          </td>
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    </table>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">17</font></div>
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          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(m)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>notice of any litigation, administrative proceeding or business development which may reasonably be expected to materially adversely affect the Issuer&#8217;s business, properties or affairs or to materially impair the ability of the Issuer to
              perform its obligations as set forth hereunder or under any of the other Related Documents to which it is a party as soon as reasonably practicable, but in no event later than ten (10) Business Days after actual knowledge of any officer of
              the Issuer thereof;</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
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        <tr>
          <td style="width: 36pt;"><br>
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          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(n)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>upon request of the Purchaser, copies of all certificates that the Issuer has delivered to each Rating Agency that are set forth in the respective Rating Agency Guidelines (if applicable) regarding Asset Coverage and all related
              calculations for such certificates at such times and containing such information as set forth in the respective Rating Agency Guidelines as soon as reasonably practicable after such certificates have been sent;</div>
          </td>
        </tr>

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    <div>&#160;</div>
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        <tr>
          <td style="width: 36pt;"><br>
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            <div>within fifteen (15) calendar days after the last day of each month (each, a <font style="font-weight: bold;">&#8220;Reporting Date&#8221;</font>), a report of portfolio holdings of the Issuer as of the close of business on the last Business Day of
              such month, prepared on a basis substantially consistent with the monthly reports of portfolio holdings of the Issuer currently reported on the Issuer&#8217;s public website;</div>
          </td>
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    <div>&#160;</div>
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          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(p)</td>
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            <div>within fifteen (15) calendar days after the last day of each month, a calculation of the Effective Leverage Ratio and the Asset Coverage of the Issuer as of the close of business of the last Business Day of such month; and upon the failure
              of the Issuer to maintain Asset Coverage as provided in Section 2.4(a) of the Articles Supplementary or the Effective Leverage Ratio as required by Section 2.4(c) of the Articles Supplementary, notice of such failure within one (1) Business
              Day of the occurrence thereof;</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
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        <tr>
          <td style="width: 36pt;"><br>
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          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(q)</td>
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            <div>notice of any amendment to the Pricing Procedures effecting the determination of Market Value of any of the Issuer&#8217;s assets, together with detail of such amendment, within five (5) Business Days of the occurrence thereof; and</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd9e57ffffc81403d93fd3ea2c3d20719">

        <tr>
          <td style="width: 36pt;"><br>
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          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(r)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>from time to time such additional information regarding the financial position, results of operations or prospects of the Issuer as the Purchaser may reasonably request including, without limitation, copies of all offering material with
              respect to the sale of any securities of the Issuer as soon as reasonably practicable, but in no event later than seven (7) Business Days after such a request.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">All information, reports and other papers, documentation and data with respect to the Issuer furnished to the Purchaser pursuant to this Section 6.1 shall be, at the time the same are so furnished,
      complete and correct in all material respects and, when considered with all other material delivered to the Purchaser under this Agreement or made available pursuant to the Due Diligence Request, will not contain untrue statements of material facts
      or omit to state material facts necessary to make the statements contained therein, in light of the circumstances under which they were made, not misleading.&#160; For purposes of Sections 6.1(o) and 6.1(p), references to any day that is not a Business
      Day shall mean the next preceding Business Day.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">18</font></div>
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        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">6.2</td>
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            <div style="font-weight: bold;">No Amendment or Certain Other Actions Without Consent of the Purchaser</div>
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        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">To the extent that the Purchaser is the Holder or Designated Owner of more than 50% of the VMTP Shares then outstanding, without the prior written consent of the Purchaser, the Issuer will not agree
      to, consent to or permit any material amendment, supplement, modification or repeal of the Articles Supplementary or any provision therein, nor waive any provision thereof that would adversely affect the Holders; provided that, subject to Section
      7.13, the Issuer will provide not less than ten (10) Business Days&#8217; written notice in accordance with Section 7.1 of this Agreement (or such lesser number of days that the Issuer and the Purchaser agree) (the &#8220;<font style="font-weight: bold;">notice
        period&#8221;</font>), which notice shall be confirmed telephonically with the Purchaser within one (1) Business Day, before the implementation of any such amendment, supplement, modification or repeal that it has determined would not have an adverse
      effect pursuant to this Section 6.2; provided further that the Issuer shall not proceed with such amendment that it has determined to not have an adverse effect if the Majority Participants provide an objection stating that such amendment is adverse
      and providing the basis therefor not less than two (2) Business Days prior to the end of notice period; provided further that any notice provided by the Issuer or the Purchaser pursuant to this Section 6.2 that is received after 1:00 p.m. Eastern
      time on any given day will be treated as having been received on the following Business Day.</div>
    <div>&#160;</div>
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        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">6.3</td>
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            <div style="font-weight: bold;">Maintenance of Existence</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer shall continue to maintain its existence as a corporation under the laws of the State of Maryland, with full right and power to issue the VMTP Shares and to execute, deliver and perform
      its obligations under this Agreement and each other Related Document.</div>
    <div>&#160;</div>
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        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">6.4</td>
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            <div style="font-weight: bold;">Tax Status of the Issuer</div>
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        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer will qualify as a &#8220;regulated investment company&#8221; within the meaning of Section 851(a) of the Code and the dividends made with respect to the VMTP Shares will qualify as &#8220;exempt interest
      dividends&#8221; to the extent they are reported as such by the Issuer and permitted by Section 852(b)(5)(A) of the Code.</div>
    <div>&#160;</div>
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            <div style="font-weight: bold;">Payment Obligations</div>
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        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer shall promptly pay or cause to be paid all amounts payable by it hereunder and under the other Related Documents, according to the terms hereof and thereof, shall take such actions as may
      be necessary to include all payments hereunder and thereunder which are subject to appropriation in its budget and make full appropriations related thereto, and shall duly perform each of its obligations under this Agreement and the other Related
      Documents.&#160; All payments of any sums due hereunder shall be made in the amounts required hereunder without any reduction or setoff, notwithstanding the assertion of any right of recoupment or setoff or of any counterclaim by the Issuer.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">19</font></div>
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            <div style="font-weight: bold;">Compliance With Law</div>
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        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer shall comply with all laws, ordinances, orders, rules and regulations that may be applicable to it if the failure to comply would have a Material Adverse Effect.</div>
    <div>&#160;</div>
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          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">6.7</td>
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            <div style="font-weight: bold;">Maintenance of Approvals: Filings, Etc.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer shall at all times maintain in effect, renew and comply with all the terms and conditions of all consents, filings, licenses, approvals and authorizations as may be necessary under any
      applicable law or regulation for its execution, delivery and performance of this Agreement and the other Related Documents to which it is a party.</div>
    <div>&#160;</div>
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        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">6.8</td>
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            <div style="font-weight: bold;">Inspection Rights</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer shall, at any reasonable time and from time to time, upon reasonable notice, permit the Purchaser or any agents or representatives thereof, at the Issuer&#8217;s expense, to examine and make
      copies of the records and books of account related to the transactions contemplated by this Agreement, to visit its properties and to discuss its affairs, finances and accounts with any of its officers and independent accountants, to the extent
      permitted by law, provided, however, that the Issuer shall not be required to pay for more than one inspection per fiscal year.&#160; The Issuer will not unreasonably withhold its authorization for its independent accountants to discuss its affairs,
      finances and accounts with the Purchaser.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">All information, reports and other papers, documentation and data with respect to the Issuer furnished to the Purchaser pursuant to this Section 6.8 shall be, at the time the same are so furnished,
      complete and correct in all material respects and, when considered with all other material delivered to the Purchaser under this Agreement or made available pursuant to the Due Diligence Request, will not contain untrue statements of material facts
      or omit to state material facts necessary to make the statements contained therein, in light of the circumstances under which they were made, not misleading.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2ead3e7518e44445b47a42d45a783296">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">6.9</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Litigation, Etc.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer shall (to the extend not prohibited by applicable law) give prompt notice in writing to the Purchaser of any litigation, administrative proceeding or business development which is
      reasonably expected to materially adversely affect its business, properties or affairs or to materially impair the ability of the Issuer to perform its obligations as set forth hereunder or under any of the other Related Documents.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb6eb7cc2a7004459af37a7c5007917c0">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">6.10</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">1940 Act Registration</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer shall maintain its valid registration as a registered closed-end company under the 1940 Act in full force and effect.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">20</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7c0654c3255c4ad6843e550d5c4e6994">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">6.11</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Credit Quality</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer shall (i) invest at least 80% of its Fund Assets in investment grade quality Municipal Securities that, at the time of investment, were rated within the four highest grades (Baa or BBB or
      better) by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable credit quality by the Sub-Adviser; and (ii) invest no more than 20% of its Fund Assets in Municipal Securities that at the time of investment
      were rated below investment grade or were unrated but judged to be of comparable credit quality by the Sub-Adviser, provided that the Issuer has invested no more than 7% of the Issuer&#8217;s Fund Assets in Municipal Securities that, at the time of
      investment, were rated below B<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">3</sub>/B- by an NRSRO or that were unrated but judged to be of comparable credit quality by the Sub-Adviser.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb0cf78d8ced9401aa968f7d05c72cad8">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">6.12</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Maintenance of Effective Leverage Ratio</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">For so long as the Issuer fails to provide the information required under Sections 6.1(o) and 6.1(p) of this Agreement, the Purchaser may calculate, for purposes of Section 2.4(d) of the Articles
      Supplementary, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided
      the market values to the Issuer on the most recent date that information was properly provided by the Issuer pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by the Purchaser in such instances
      shall be binding on the Issuer. If required, the Issuer shall restore the Effective Leverage Ratio as provided in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">In connection with calculating the Effective Leverage Ratio, the Issuer&#8217;s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Issuer under each
      Derivative Contract determined in accordance with the Issuer&#8217;s valuation policies.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1221061174fc4eea8c10af82dcdbcc7a">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">6.13</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Redemption and Paying Agent</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer shall use its commercially reasonable efforts to engage at all times a Redemption and Paying Agent to perform the duties to be performed by the Redemption and Paying Agent specified herein
      and in the Articles Supplementary.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zec0cbbd91f304e708c4b784acd6a67aa">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">6.14</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Cooperation in the Sale of the VMTP Shares</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer will comply with reasonable due diligence requests from the Purchaser in connection with any proposed sale by the Purchaser of the VMTP Shares in a transaction exempt from registration and
      otherwise permitted by this Agreement, provided that the Issuer need not comply with more than two of any such requests in any period of twelve (12) consecutive months and any prospective purchaser of the VMTP Shares from the Purchaser shall execute
      a confidentiality agreement substantially to the effect of Section 7.13 hereof prior to receiving any due diligence materials provided pursuant to such due diligence request.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">All information, reports and other papers, documentation and data with respect to the Issuer furnished to the Purchaser pursuant to this Section 6.14 shall be, at the time the same are so furnished,
      complete and correct in all material respects and, when considered with all other material delivered to the Purchaser under this Agreement or made available pursuant to the Due Diligence Request, will not contain untrue statements of material facts
      or omit to state material facts necessary to make the statements contained therein, in light of the circumstances under which they were made, not misleading.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">21</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb0e6f55577f74109a94a624fd681a3ae">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">6.15</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Use of Proceeds</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The net proceeds from the sale of the VMTP Shares will be used initially for the redemption of the existing Auction Preferred Stock of the Issuer, in each case within 15 Business Days of the date of
      this Agreement.&#160; Any proceeds remaining after such redemptions shall be used for any purpose permitted under the Charter, the By-Laws and this Agreement.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb4ccd2f2079b48b3b5fdd3c46e1bd911">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">6.16</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Securities Depository</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer agrees to maintain settlement of the VMTP Shares in global book entry form through the Securities Depository or such other clearance system acceptable to the Purchaser.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfa3d50cb3f1f40ad885605435c65e728">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">6.17</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Future Agreements</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer shall promptly, at the request of the Purchaser, enter into an agreement, on terms mutually satisfactory to the Issuer and the Purchaser, of the type specified in Section 12(d)(1)(E)(iii)
      of the 1940 Act, so as to permit the Purchaser or any transferee satisfying the requirements set forth in Section 2.1 of this Agreement to rely on the provisions of Section 12(d)(1)(E)(iii) of the 1940 Act.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z61c24b6340074ba5ab587a27a1ae6074">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">6.18</td>
          <td style="width: auto; vertical-align: top;">
            <div><font style="font-weight: bold;">Eligible</font>&#160;<font style="font-weight: bold;">Assets</font></div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer shall only make investments in the Eligible Assets described in <u>Exhibit B</u> to this Agreement, as amended from time to time with the prior written consent of the Purchaser, in
      accordance with the Issuer&#8217;s investment objectives and the investment policies disclosed to the Purchaser, as such investment objectives and investment policies may be modified in accordance with the 1940 Act and applicable law.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zaf967525566e40199195be90653bddde">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">6.19</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Maryland Control Share Acquisition Act</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer and the Board of Directors shall not take any actions that would cause the Issuer to be subject to Title 3, Subtitle 7 of the Maryland General Corporation Law, known as the Maryland
      Control Share Acquisition Act.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">22</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">ARTICLE VII</div>
    <div style="text-align: center; font-weight: bold;">MISCELLANEOUS</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z597635842c844770bf0a609b42cbd596">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">7.1</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Notices</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">All notices, requests and other communications to any party hereunder shall be in writing (including telecopy, electronic mail or similar writing), except in the case of notices and other
      communications permitted to be given by telephone, and shall be given to such party at its address or telecopy number or email address set forth below or such other address or telecopy number or email address as such party may hereafter specify for
      the purpose by notice to the other parties.&#160; Each such notice, request or other communication shall be effective when delivered at the address specified in this Section.&#160; Except as otherwise specified, notices under Section 6.1 of this Agreement may
      be given by telephone to the Purchaser at the telephone numbers listed below (or such other telephone numbers as may be designated by the Purchaser, by written notice to the Issuer, to receive such notice), promptly confirmed in writing, including by
      fax or electronic mail.&#160; The notice address for each party is specified below:</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z64672591c2c941eb893a1c05babd6010">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>if to the Issuer:</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="margin-right: 72pt; margin-left: 72pt;">BNY Mellon Strategic Municipal Bond Fund, Inc.</div>
    <div style="margin-right: 72pt; margin-left: 72pt;">240 Greenwich Street</div>
    <div style="margin-right: 72pt; margin-left: 72pt;">New York, New York 10286</div>
    <div style="margin-right: 72pt; margin-left: 72pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Deirdre Cunnane</div>
    <div style="margin-right: 72pt; margin-left: 72pt;">Telephone:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(212) 922-6039</div>
    <div style="margin-right: 72pt; margin-left: 72pt;">Email:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Deirdre.cunnane@bnymellon.com</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4c11b38b71ec4768bddb8031e7ec5e3b">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>if to BAPFC:</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="margin-right: 72pt; margin-left: 72pt;">Banc of America Preferred Funding Corporation</div>
    <div style="margin-right: 72pt; margin-left: 72pt;">One Bryant Park</div>
    <div style="margin-right: 72pt; margin-left: 72pt;">1111 Avenue of the Americas, 3rd Floor</div>
    <div style="margin-right: 72pt; margin-left: 72pt;">New York, NY 10036</div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z3121bc6fa3ca4c6ab68c0fedd26f4e9e" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;">

          <tr style="vertical-align: top;">
            <td style="width: 72pt;">&#160;</td>
            <td style="text-align: right; vertical-align: top; width: 72pt;">
              <div style="text-align: left;">Attention:</div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div>Thomas J. Visone</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-left: 144pt;">Mary Ann Olson</div>
    <div style="margin-left: 144pt;">Todd Blasiak</div>
    <div style="margin-left: 144pt;">Michael Jentis</div>
    <div style="margin-left: 144pt;">Lisa Irizarry</div>
    <div style="margin-left: 144pt;">Carl Daniels</div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="zcc4a5bab790d4d82a4c766a78f47bad6" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;">

          <tr style="vertical-align: top;">
            <td style="width: 72pt;">&#160;</td>
            <td style="text-align: right; vertical-align: top; width: 72pt;">
              <div style="text-align: left;">Telephone:</div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div>(212) 449-7358</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z53bdcaa8c7b541f38c9192f44dbcce84" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;">

          <tr style="vertical-align: top;">
            <td style="width: 72pt;">&#160;</td>
            <td style="text-align: right; vertical-align: top; width: 72pt;">
              <div style="text-align: left;">Email:</div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div>thomas.visone@bofa.com</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-left: 144pt;">mary.ann.olson@bofa.com</div>
    <div style="margin-left: 144pt;">todd.blasiak@bofa.com</div>
    <div style="margin-left: 144pt;">lisa.m.irizarry@bofa.com</div>
    <div style="margin-left: 144pt;">michael.jentis@bofa.com</div>
    <div style="margin-left: 144pt;">carl.daniels@bofa.com</div>
    <div><br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">23</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfc9a476b59fa435d81d450bdf3e66326">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">7.2</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">No Waivers</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zee52e933506042c4a1a83c1e850c2557">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The obligations of the Issuer hereunder shall not in any way be modified or limited by reference to any other document, instrument or agreement (including, without limitation, the VMTP Shares or any other Related Document).&#160; The rights of
              the Purchaser hereunder are separate from and in addition to any rights that any Holder or Designated Owner of any VMTP Share may have under the terms of such VMTP Share or any Related Document or otherwise.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1bbbfefc521b4c46bb259a3b5eb4bb40">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>No failure or delay by the Issuer or the Purchaser in exercising any right, power or privilege hereunder or under the VMTP Shares shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or
              further exercise thereof or the exercise of any other right, power or privilege.&#160; No failure or delay by the Issuer or the Purchaser in exercising any right, power or privilege under or in respect of the VMTP Shares or any other Related
              Document shall affect the rights, powers or privileges of the Issuer or the Purchaser hereunder or shall operate as a limitation or waiver thereof.&#160; The rights and remedies herein provided shall be cumulative and not exclusive of any rights
              or remedies provided by law.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zeb39061bc213416ca56c36bb2e1edabb">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">7.3</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Expenses and Indemnification</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z52165f88a6154c76b6597e445e949a8c">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Issuer shall upon demand either, as the Purchaser may require, pay in the first instance or reimburse the Purchaser (to the extent that payments for the following items are not made under the other provisions hereof) for all reasonable
              out-of-pocket expenses (including reasonable fees and costs of outside counsel, and reasonable consulting, accounting, appraisal, investment banking, and similar professional fees and charges) incurred by the Purchaser in connection with the
              enforcement of or preservation of rights under this Agreement.&#160; The Issuer shall not be responsible under this Section 7.3(a) for the fees and costs of more than one law firm in any one jurisdiction with respect to any one proceeding or set
              of related proceedings for the Purchaser, unless the Purchaser shall have reasonably concluded that there are legal defenses available to it that are different from or additional to those available to the Issuer.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2cac29c9fa004a569781641300958c71">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Issuer agrees to indemnify and hold harmless the Purchaser and each other Indemnified Person of the Purchaser from and against any losses, claims, damages, liabilities and reasonable out-of-pocket expenses incurred by them (including
              reasonable fees and disbursements of outside counsel) that are related to or arise out of (i) any claim by any third party relating to the offering or sale of the VMTP Shares by the Issuer or the holding of the VMTP Shares by the Purchaser
              (A) that the Purchaser aided and abetted a breach of a fiduciary duty by the Issuer or any Director or officer of the Issuer or (B) arising from any act by the Issuer or any Director or officer of the Issuer or (ii) any breach by the Issuer
              of any Related Document (in each case, excluding claims, losses, liabilities or expenses arising out of or resulting from the gross negligence or willful misconduct of any Indemnified Person as determined by a court of competent jurisdiction,
              and excluding any consequential, special or punitive damages or losses consisting of trading losses, speculative losses, loss of profit or loss of business opportunity).</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">24</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0512644a22f44304881cb4c264673ae3">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The indemnifying party also agrees that if any indemnification sought by an Indemnified Person pursuant to this Agreement is unavailable or insufficient, for any reason, to hold harmless the Indemnified Persons of such other party in
              respect of any losses, claims, damages, liabilities or expenses (or actions in respect thereof), then the indemnifying party, in order to provide for just and equitable contribution, shall contribute to the amount paid or payable by such
              Indemnified Person as a result of such losses, claims, damages, liabilities and expenses (or actions in respect thereof) in such proportion as is appropriate to reflect (i) the relative benefits received by the Issuer on the one hand and the
              Purchaser on the other hand from the actual or proposed transactions giving rise to or contemplated by this Agreement or (ii) if the allocation provided by the foregoing clause (i) is not permitted by applicable law, not only such relative
              benefits but also the relative fault of the Issuer on the one hand and the Purchaser on the other, in connection with such losses, claims, damages, liabilities or expenses (or actions in respect thereof), as well as any other relevant
              equitable considerations; provided that in any event the aggregate contribution of the Purchaser and their Indemnified Persons to all losses, claims, damages, liabilities and expenses with respect to which contributions are available
              hereunder will not exceed the amount of dividends received by the Purchaser from the Issuer pursuant to the proposed transactions giving rise to this Agreement.&#160; For purposes of determining the relative benefits to the Issuer on the one hand,
              and the Purchaser on the other, under the proposed transactions giving rise to or contemplated by this Agreement, such benefits shall be deemed to be in the same proportion as (i) the total value received or proposed to be received by the
              Issuer pursuant to the transactions, whether or not consummated bears to (ii) the dividends and Optional Redemption Premium paid by the Issuer to the Purchaser in connection with the proposed transactions giving rise to or contemplated by
              this Agreement.&#160; The relative fault of the parties shall be determined by reference to, among other things, whether the actions taken or omitted to be taken in connection with the proposed transactions contemplated by this Agreement
              (including any misstatement of a material fact or the omission to state a material fact) relates to information supplied by the Issuer on the one hand, or the Purchaser on the other, the parties&#8217; relative intent, knowledge, access to
              information and opportunity to correct or prevent such action, misstatement or alleged omission, and any other equitable considerations appropriate in the circumstances.&#160; No person found liable for a fraudulent misrepresentation shall be
              entitled to contribution from any person who is not also found liable for such fraudulent misrepresentation. The indemnity, reimbursement and contribution obligations under this Agreement shall be in addition to any rights that any
              Indemnified Person may have at common law or otherwise.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z75127fb322f74f98a9d284bfb4eb894b">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(d)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>If any action, suit, proceeding or investigation is commenced, as to which an Indemnified Person proposes to demand indemnification, it shall notify the indemnifying party with reasonable promptness; provided, however, that any failure by
              such Indemnified Person to notify the indemnifying party shall not relieve the indemnifying party from its obligations hereunder (except to the extent that the indemnifying party is materially prejudiced by such failure to promptly notify).&#160;
              The indemnifying party shall be entitled to assume the defense of any such action, suit, proceeding or investigation, including the employment of counsel reasonably satisfactory to the Indemnified Person.&#160; The Indemnified Person shall have
              the right to counsel of its own choice to represent it, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the indemnifying party has failed promptly to assume the defense and employ
              counsel reasonably satisfactory to the Indemnified Person in accordance with the preceding sentence or (ii) the Indemnified Person shall have been advised by counsel that there exist actual or potential conflicting interests between the
              indemnifying party and such Indemnified Person, including situations in which one or more legal defenses may be available to such Indemnified Person that are different from or additional to those available to the indemnifying party; provided,
              however, that the indemnifying party shall not, in connection with any one such action or proceeding or separate but substantially similar actions or proceedings arising out of the same general allegations be liable for fees and expenses of
              more than one separate firm of attorneys at any time for all Indemnified Persons of such other party; and such counsel shall, to the extent consistent with its professional responsibilities, cooperate with the indemnifying party and any
              counsel designated by the indemnifying party.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">25</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">Each party further agrees that it will not, without the prior written consent of the other parties (the consent of a party shall not be required to the extent such party is neither requesting
      indemnification nor being requested to provide indemnification), settle or compromise or consent to the entry of any judgment in any pending or threatened claim, action, suit or proceeding in respect of which indemnification may be sought hereunder
      (whether or not any Indemnified Person is an actual or potential party to such claim, action, suit or proceeding) unless such settlement, compromise or consent includes an unconditional release of the Issuer (if such settlement, compromise or consent
      is agreed to by the Purchaser or another Indemnified Person) or the Purchaser and each other Indemnified Person (of such settlement, compromise or consent is agreed to by the Issuer) from all liability and obligations arising therefrom.&#160; The Issuer
      further agrees that neither of the Purchaser, nor any of their affiliates, nor any Directors, officers, partners, employees, agents, representatives or control persons of the Purchaser or any of its affiliates shall have any liability to the Issuer
      arising out of or in connection with the proposed transactions giving rise to or contemplated by this Agreement except for such liability for losses, claims, damages, liabilities or expenses to the extent they have resulted from the Purchaser&#8217;s or
      their affiliates&#8217; gross negligence or willful misconduct. No Indemnified Person shall be responsible or liable to the indemnifying party or any other person for consequential, special or punitive damages which may be alleged as a result of this
      Agreement.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5bb07387d8df4d2fbe6d36ea08a9fe52">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(e)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Nothing in this Section 7.3 is intended to limit any party&#8217;s obligations contained in other parts of this Agreement or the VMTP Shares.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">26</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd91ce651b979459c98dd4041e5b72544">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">7.4</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Amendments and Waivers</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed by the Issuer and the Purchaser; provided, that the Issuer shall not
      make or agree to any amendment or waiver to the Charter or the Articles Supplementary that affects any preference, right or power of the VMTP Shares or the Holders or Designated Owners thereof except as permitted under the Charter or the Articles
      Supplementary.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze241795a626141a9b0bc8cb5360accb9">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">7.5</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Successors and Assigns</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.&#160; Neither the Issuer nor the Purchaser may assign or
      otherwise transfer any of its rights or obligations under this Agreement without the prior written consent of the other party (other than by operation of law), except, subject Section 2.1(c) of this Agreement, that (i) any transferee satisfying the
      requirements set forth in Section 2.1 of this Agreement and which has executed and delivered to the Issuer the transferee certificate attached as <u>Exhibit C</u> shall, prior to registration of any VMTP Shares under the Securities Act, have the
      rights set forth in Section 6.17 and Section 7.15 of this Agreement and shall, so long as such transferee has provided a means for the Issuer to transmit such information electronically to it, be entitled to receive the information delivered pursuant
      to Sections 6.1(o) and 6.1(p) of this Agreement and such transferees shall be deemed a party to this Agreement for purposes of Sections 6.1(o), 6.1(p) and the confidentiality provisions herein as specified in the transferee certificate and (ii) the
      Purchaser may assign its rights or obligations to any affiliate of the Purchaser or any tender option bond trust (or similar vehicles used for providing financing for municipal obligations and municipal closed-end fund preferred shares) in which the
      Purchaser or an affiliate of the Purchaser retains the entire residual interest.&#160; Any assignment without such prior written consent shall be void.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z02f07a9285314c57ac0a3c87ed9919cd">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">7.6</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Term of this Agreement</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">This Agreement shall terminate on the earlier of (i) the registration of any Outstanding VMTP Shares under the Securities Act and (ii) payment in full of all amounts then due and owing to the
      Purchaser hereunder and under the VMTP Shares. For the avoidance of doubt, if the Purchaser sells all of its VMTP Shares (other than to an affiliate) and, in the case of a sale to a tender option bond trust (or similar vehicles used for providing
      financing for municipal obligations and municipal closed-end fund preferred shares), neither the Purchaser, nor any affiliate of the Purchaser, retains any residual interest or similar interest in any VMTP Shares sold to a tender option bond trust
      (or similar vehicles used for providing financing for municipal obligations and municipal closed-end fund preferred shares) or otherwise does not repurchase the VMTP Shares from the tender option bond trust (or similar vehicles used for providing
      financing for municipal obligations and municipal closed-end fund preferred shares), no further amounts will be due and owing to the Purchaser with respect to such VMTP Shares for purposes of this Section 7.6. Notwithstanding any termination of this
      Agreement or the prior sentence, Section 7.3, Section 7.5, Section 7.7, Section 7.8, Section 7.10, Section 7.11, the second sentence of Section 7.12, and Section 7.13 (for a period of two years after the termination of this Agreement) of this
      Agreement shall remain in full force and effect.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">27</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z518e9df3d4bd4804ab52b6941a0efc47">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">7.7</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Governing Law</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">This Agreement shall be construed in accordance with and governed by the domestic law of the State of New York.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">THE PARTIES HERETO HEREBY SUBMIT TO THE NON-EXCLUSIVE JURISDICTION OF THE FEDERAL AND NEW YORK STATE COURTS LOCATED IN THE CITY OF NEW YORK IN CONNECTION WITH ANY DISPUTE RELATED TO THIS AGREEMENT OR
      ANY MATTERS CONTEMPLATED HEREBY.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9d8c95a976cb4ca7a97a29c2b1c4853a">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">7.8</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Waiver of Jury Trial</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer and the Purchaser hereby waive trial by jury in any action, proceeding or counterclaim brought by either of the parties hereto against any other on any matters whatsoever arising out of or
      in any way connected with this Agreement.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z072c4c7163874936a1d156698786bec5">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">7.9</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Counterparts</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">This Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. Any counterpart or other
      signature delivered by facsimile or by electronic mail shall be deemed for all purposes as being a good and valid execution and delivery of this Agreement by that party.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z399652b2292d4c44bb5898e289671926">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">7.10</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Beneficiaries</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">This Agreement is not intended and shall not be construed to confer upon any Person, other than the parties hereto and their successors and permitted assigns, any rights or remedies hereunder.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze09ec05f6bfd46f78811cca7fdf6af7a">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">7.11</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Entire Agreement</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">Except as set forth in Section 7.5, this Agreement shall constitute the entire agreement and understanding between the parties hereto with respect to the matters set forth herein and shall supersede
      any and all prior agreements and understandings relating to the subject matter hereof.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4c3ab628b8dc40b99cd4bd3947468e4d">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">7.12</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Relationship to the Articles Supplementary</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The Issuer and the Purchaser agree that the representations, warranties, covenants and agreements contained in this Agreement are in addition to the terms and provisions set forth in the Articles
      Supplementary. As between the Issuer and the Purchaser, the Issuer and the Purchaser agree that Section 2.11(c) of the Articles Supplementary shall have no effect for so long as none of the VMTP Shares have been registered under the Securities Act.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">28</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z70698953cd8643cfb691c86ba5a709db">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">7.13</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Confidentiality</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">Any information delivered by a party to this Agreement to any other party pursuant to this Agreement, including, without limitation, pursuant to Section 6.1 of this Agreement in the case of the
      Issuer (collectively, the &#8220;<font style="font-weight: bold;">Information</font>&#8221;), shall not be disclosed by such other party (or its employees, representatives or agents) to any person or entity (except as required by law or to such of its agents and
      advisors as need to know and agree to be bound by the provisions of this paragraph) or used by such other party for any purpose other than as contemplated by this Agreement without the prior written consent of the party delivering the Information.&#160;
      The Parties agree that the Information, including but not limited to, the information provided pursuant to Sections 6.1(o) and Section 6.1(p) of this Agreement, to the extent constituting material, nonpublic information, shall be used solely for the
      purposes set forth in the next paragraph of this Section 7.13 and for purposes of making, monitoring and evaluation of the investment in the VMTP Shares, and for no other purpose.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">The obligations of confidentiality set out in the preceding paragraph do not extend to Information that is or becomes available to the public or is or becomes available to the party receiving the
      Information on a non-confidential basis or is disclosed to Holders or Designated Owners or potential Holders or Designated Owners, in each case in their capacity as such, in the offering documents of the Issuer, in notices to Holders or Designated
      Owners pursuant to one or more of the Related Documents or pursuant to the Issuer&#8217;s or the Purchaser&#8217;s informational obligations under Rule 144A(d)(4) or other reporting obligation of the Securities and Exchange Commission; or is required or
      requested to be disclosed (i) by a regulatory agency or in connection with an examination of either party or its representatives by regulatory authorities, (ii) pursuant to subpoena or other court process, (iii) at the express direction of any other
      authorized government agency, (iv) to its independent attorneys or auditors, (v) as required by any NRSRO, (vi) as otherwise required by law or regulation, (vii) otherwise in connection with the enforcement of this Agreement, (viii) in connection
      with the exercise of any remedies hereunder or in any suit, action or proceeding relating to this Agreement and the enforcement of rights hereunder, (ix) by a prospective purchaser of the VMTP Shares that is (a) a transferee that would be permitted
      pursuant to Section 2.1(b) of this Agreement and (b) aware of the confidentiality provisions of this Section 7.13 and is subject to an agreement with the transferor containing provisions substantially similar thereto and that states that the Issuer
      is an express third party beneficiary thereof, (x) subject to an agreement containing provisions substantially similar to those of this Section 7.13, or (xi) subject to an agreement containing provisions substantially similar to those of this Section
      7.13 and with the prior written consent of the other party to this Agreement, which consent shall not be unreasonably withheld, to any actual or prospective counterparty in any swap or derivative transactions.&#160; For the avoidance of doubt, references
      in this Section 7.13 to &#8220;regulatory agency,&#8221; &#8220;regulatory authorities,&#8221; &#8220;government agency&#8221; and &#8220;law or regulation&#8221; shall be deemed to include the Internal Revenue Service and state taxation authorities.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7a28db4e9bfe43c0b6ae8e14b0b975d8">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">7.14</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Severability</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">In case any provision of this Agreement shall be invalid, illegal, or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or
      impaired thereby so long as the intent of the parties to this Agreement shall be preserved.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">29</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z46d85e3ae9a4486580719faa3619d704">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">7.15</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Consent Rights of the Majority Participants to Certain Actions</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">For so long as none of the VMTP Shares have been registered under the Securities Act, without the affirmative vote or consent of the Majority Participants, neither the Issuer nor the Board of
      Directors will take or authorize the taking of any of the actions set forth under clauses (a) through (e) of this Section 7.15:</div>
    <div>&#160;</div>
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        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The termination by the Issuer of any Rating Agency or the selection of any Other Rating Agency, either in replacement for a Rating Agency or as an additional Rating Agency with respect to the VMTP Shares unless (i) immediately following
              such termination, there would be at least one Rating Agency with respect to the VMTP Shares or (ii) it replaces the terminated Rating Agency with another Rating Agency and provides notice thereof to the Holders of such VMTP Shares; provided
              that such replacement shall no occur unless such replacement other Rating Agency shall have at the time of such replacement (i) published a rating for the VMTP Shares and (ii) entered into an agreement with the Issuer to continue to publish
              such rating subject to the Rating Agency&#8217;s customary conditions.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb5e86e854bcc492695e29ef03284c70c">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Issuer issuing or suffering to exist any &#8220;senior security&#8221; (as defined in the 1940 Act as of the date hereof, but not including a Derivative Contract, or, in the event such definition shall be amended, with such changes to the
              definition thereof as consented to by the Majority Participants) other than the VMTP Shares issued and sold pursuant to this Agreement or indebtedness for borrowed money of the Issuer, except (i) borrowings for temporary purposes in an amount
              not to exceed 5% of the assets of the Issuer, which borrowings are repaid within sixty (60) days, (ii) the issuance of senior securities or the incurrence of indebtedness for borrowed money, the proceeds of which will be used for the
              redemption or repurchase of the VMTP Shares and costs incurred in connection therewith, (iii) any outstanding APS as the date hereof, (iv) the Issuer&#8217;s issuance of tender options bonds or creation of a tender option bond trust (or similar
              vehicles used for providing financing for municipal obligations and municipal closed-end fund preferred shares), if any and (v) as may be otherwise approved or consented to by the Majority Participants, provided that if any such &#8220;senior
              security&#8221; is created or incurred by the Issuer it shall not require the approval of the Majority Participants if the Issuer redeems, retires or terminates such &#8220;senior security&#8221; or otherwise cures such non-compliance within five Business Days
              of receiving notice of the existence thereof.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb60340b7a7034ec48545bef17f9ec8f1">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Issuer (i) creating or incurring or suffering to be incurred or to exist any lien on any other funds, accounts or other property held under the Charter or the Articles Supplementary, except as permitted by the Charter or the Articles
              Supplementary or (ii) except for any lien for the benefit of the Custodian of the Issuer on the assets of the Issuer held by such Custodian, any lien arising by operation of law, pledging any portfolio security to secure any senior securities
              or other liabilities to be incurred by the Issuer (including under any tender option bond trust (or similar vehicles used for providing financing for municipal obligations and municipal closed-end fund preferred shares) of which the residual
              floating rate trust certificates will be owned by the Issuer) unless the securities pledged pursuant to all such pledges or other security arrangements are valued for purposes of such security arrangements in an aggregate amount not less than
              70% of their aggregate market value (determined by an independent third party pricing service) for purposes of determining the value of the collateral required to be posted or otherwise provided under all such security arrangements; provided,
              that the required collateral value under such security arrangements shall not exceed the market value of the exposure of each secured party to the credit of the Issuer; and provided further, that it shall not require the approval of the
              Majority Participants if any pledge or security interest in violation of the preceding sentence is created or incurred by the Issuer and the Issuer cures such violation within five (5) Business Days of receiving notice of the existence
              thereof.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">30</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z820a933944a247b9aa9ac7baced1b388">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(d)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Approval of any amendment, alteration or repeal of any provision of the Charter or the Articles Supplementary, whether by merger, consolidation or otherwise, that would affect any preference, right or power of the VMTP Shares
              differentially from the rights of the holders of the Common Shares; or</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2099197c4911487ca5251ed35ec4a490">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(e)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Approval of any action to be taken pursuant to Sections 2.6(h) of the Articles Supplementary (other than the issuance of additional series of Variable Rate MuniFund Term Preferred Shares or other Preferred Shares, the proceeds of which
              will be used for the redemption or repurchase of the VMTP Shares and costs incurred in connection therewith).</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">In addition, if the Board of Directors shall designate a replacement to the S&amp;P Municipal Bond 7-Day High Grade Index pursuant to the definition of SIFMA Municipal Swap Index contained in the
      Articles Supplementary, the Issuer shall notify the Holders of the VMTP Shares within five (5) Business Days of such designation, and if within thirty (30) days of such notice the Majority Participants shall have objected in writing to the designated
      replacement (such date of objection, the &#8220;<font style="font-weight: bold;">Objection Date</font>&#8221;), the Board of Directors shall designate a replacement to such index as agreed to between the Issuer and the Majority Participants. In such event, the
      replacement index initially approved by the Board of Directors shall be the index in effect for purposes of the Articles Supplementary until a new index has been approved by the Issuer and the Majority Participants; provided that if the Majority
      Participants are unable to agree to a new index within ninety (90) days of the Objection Date, such ninetieth (90<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup>) day shall be deemed to be a Mandatory Tender Event pursuant to Section 2.5(a)(i)(A) of the Articles Supplementary and the
      VMTP Shares shall be subject to the applicable provision in the Articles Supplementary relating to such a Mandatory Tender Event.</div>
    <div>&#160;</div>
    <div style="text-align: center;">[The remainder of this page has been intentionally left blank.]</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">31</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">IN WITNESS WHEREOF</font>, the parties hereto have caused this Agreement to be duly executed by their respective authorized officers as of the day and year first
      above written.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z2ace51a247e44b0ebad209fffdfcc925">

        <tr>
          <td colspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
          <td colspan="2" rowspan="1" style="vertical-align: top;">
            <div style="font-weight: bold;">BNY MELLON STRATEGIC MUNICIPAL BOND FUND, INC.</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" colspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
          <td colspan="2" rowspan="1" style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>By:</div>
          </td>
          <td style="width: 45%; vertical-align: top;">
            <div><u>/s/ David DiPetrillo</u></div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>Name:</div>
          </td>
          <td style="width: 45%; vertical-align: top;">
            <div>David DiPetrillo</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>Title:</div>
          </td>
          <td style="width: 45%; vertical-align: top;">
            <div>President</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" colspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 45%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
          <td colspan="2" rowspan="1" style="width: 5%; vertical-align: top;">
            <div style="font-weight: bold;">BANC OF AMERICA PREFERRED FUNDING CORPORATION</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" colspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
          <td colspan="2" rowspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>By:</div>
          </td>
          <td style="width: 45%; vertical-align: top;">
            <div><u>/s/ Michael Jentis</u></div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>Name:<br>
            </div>
          </td>
          <td style="width: 45%; vertical-align: top;">Michael Jentis</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>Title:&#160; <br>
            </div>
          </td>
          <td style="width: 45%; vertical-align: top;">Managing Director</td>
        </tr>

    </table>
    <div>&#160;
      <div style="text-align: center;">[Signature Page to VMTP Purchase Agreement]</div>
      <div style="text-align: center;"> <br>
      </div>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; font-weight: bold;">SCHEDULE 1</div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z49bbdfb2e6ce49259491b84f1b6ddeb7" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;">

          <tr style="vertical-align: top;">
            <td style="text-align: right; vertical-align: top; width: 153pt;">
              <div style="text-align: left;">Description of VMTP Shares:</div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div>1,972 BNY Mellon Strategic Municipal Bond Fund, Inc. Series 2023-1 Variable Rate MuniFund Term Preferred Shares with a Liquidation Preference of $25,000 per share.CUSIP 09662E505</div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;
      <div style="text-align: center; font-size: 8pt;">Schedule 1-<font class="BRPFPageNumber">1</font></div>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; font-weight: bold;">EXHIBIT A</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">FORMS OF OPINIONS OF COUNSEL FOR THE ISSUER</div>
    <div>&#160;
      <div style="text-align: center; font-size: 8pt;">A-<font class="BRPFPageNumber">1</font></div>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; font-weight: bold;">EXHIBIT A-1</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">FORM OF CORPORATE AND 1940 ACT OPINION</div>
    <div>&#160;</div>
    <div style="text-align: center;">[ON FILE]</div>
    <div style="text-align: center;"> <br>
    </div>
    <div style="text-align: center;">
      <div style="font-size: 8pt;">A-1-<font class="BRPFPageNumber">1</font></div>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; font-weight: bold;">EXHIBIT A-2</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">FORM OF TAX OPINION</div>
    <div>&#160;</div>
    <div style="text-align: center;">[ON FILE]</div>
    <div>&#160;
      <div style="text-align: center; font-size: 8pt;">A-2-<font class="BRPFPageNumber">1</font></div>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <!--PROfilePageNumberReset%Num%1%B-%%-->
    <div style="text-align: center; font-weight: bold;">EXHIBIT B</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">ELIGIBLE ASSETS</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">On the Effective Date and at all times thereafter:</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(1, 0, 0);">1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">All assets in the Issuer consist of &#8220;Eligible Assets&#8221;, defined to consist only of the following as of the
        time of investment:</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="color: rgb(1, 0, 0);">A.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <font style="color: rgb(0, 0, 0);">Debt obligations</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="color: rgb(1, 0, 0);">i.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: rgb(0, 0, 0);">&#8220;Municipal securities&#8221;, defined as obligations of, or securities issued by, a State, the
        District of Columbia, a U.S. territory, or a political subdivision thereof and including general obligations, limited obligation bonds, revenue bonds, and obligations that satisfy the requirements of section 142(b)(1) of the Internal Revenue Code
        of 1986 issued by or on behalf of any State, the District of Columbia, any U.S. territory or any political subdivision thereof, including any municipal corporate instrumentality of 1 or more States, or any public agency or authority of any State,
        the District of Columbia, any U.S. territory or any political subdivision thereof.&#160; The purchase of any municipal security will be based upon the Sub-Adviser&#8217;s assessment of an asset&#8217;s relative value in terms of factors such as current yield,
        price, credit quality, and future prospects; and the Sub-Adviser will monitor the creditworthiness of the Issuer&#8217;s portfolio investments and analyze economic, political and demographic trends affecting the markets for such assets.&#160; For avoidance of
        doubt, municipal securities shall include debt obligations issued through conduit issuers.&#160; Eligible Assets shall include any municipal securities that at the time of purchase are paying scheduled principal and interest or if at the time of
        purchase are in payment default, then in the sole judgment of the Sub-Adviser are expected to produce payments of principal and interest whose present value exceeds the purchase price.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="color: rgb(1, 0, 0);">ii.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <font style="color: rgb(0, 0, 0);">Debt obligations of the United States.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="color: rgb(1, 0, 0);">iii.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">Debt obligations issued, insured, or guaranteed by a department or an agency of the U.S.
        Government, if the obligation, insurance, or guarantee commits the full faith and credit of the United States for the repayment of the obligation.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="color: rgb(1, 0, 0);">iv.</font>&#160;&#160;&#160; &#160; &#160; <font style="color: rgb(0, 0, 0);">Debt obligations of the Washington Metropolitan Area Transit Authority guaranteed by the
        Secretary of Transportation under Section 9 of the National Capital Transportation Act of 1969.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="color: rgb(1, 0, 0);">v.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <font style="color: rgb(0, 0, 0);">Debt obligations of the Federal Home Loan Banks.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="color: rgb(1, 0, 0);">vi.</font> &#160;&#160; &#160; &#160; <font style="color: rgb(0, 0, 0);">Debt obligations, participations or other instruments of or issued by the Federal National
        Mortgage Association or the Government National Mortgage Association.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="color: rgb(1, 0, 0);">vii.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">Debt obligations which are or ever have been sold by the Federal Home Loan Mortgage
        Corporation pursuant to sections 305 or 306 of the Federal Home Loan Mortgage Corporation Act.</font></div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">B-1</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="color: rgb(1, 0, 0);">viii.</font>&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">Debt obligations of any agency named in 12 U.S.C. &#167; 24(Seventh) as eligible to issue
        obligations that a national bank may underwrite, deal in, purchase and sell for the bank&#8217;s own account, including qualified Canadian government obligations.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="color: rgb(1, 0, 0);">ix.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">Debt obligations of issuers other than those specified in (i) through (viii) above that are
        &#8220;investment grade&#8221; and that are &#8220;marketable.&#8221;&#160; For these purposes, an obligation is:</font></div>
    <div>&#160;</div>
    <div style="margin-left: 108pt;">(aa)&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8220;marketable&#8221; if:</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3cf91ee4f375493fb54be3ac3d8e7739">

        <tr>
          <td style="width: 144pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top;">&#9679;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>it is registered under the Securities Act;</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z100453a1082b4f76b77aed11968ad013">

        <tr>
          <td style="width: 144pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top;">&#9679;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>it is offered and sold pursuant to Securities and Exchange Commission Rule 144A; 17 CFR 230.144A; or</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z414e11fcb4e84906a183f5cde524cece">

        <tr>
          <td style="width: 144pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top;">&#9679;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>it can be sold with reasonable promptness at a price that corresponds reasonably to its fair value; and</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="margin-left: 108pt;">(bb)&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8220;investment grade&#8221; if:</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zab61d9e2b5f0480da631e394836d6067">

        <tr>
          <td style="width: 144pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top;">&#9679;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the obligor had adequate capacity to meet financial commitments under the security for the projected life of the asset or exposure, which capacity is presumed if the risk of default by the obligor is low and the full and timely repayment
              of principal and interest is expected.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="color: rgb(1, 0, 0);">x.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">Certificates or other securities evidencing ownership interests in a municipal bond trust
        structure (generally referred to as a tender option bond structure) that invests in (a) debt obligations of the types described in (i) above or (b) depository receipts reflecting ownership interests in accounts holding debt obligations of the types
        described in (i) above.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="color: rgb(1, 0, 0);">xi.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: rgb(0, 0, 0);">The bonds, notes and other debt securities referenced in (A) above shall be defined as
        Eligible Assets.&#160; An asset shall not lose its status as an Eligible Asset solely by virtue of the fact that:</font></div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0c4edd6ee6394633ac3c3560ef037f13">

        <tr>
          <td style="width: 144pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top;">&#9679;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>it provides for repayment of principal and interest in any form including fixed and floating rate, zero interest, capital appreciation, discount, leases, and payment in kind; or</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze5ad72bda00847c4af23985911949a53">

        <tr>
          <td style="width: 144pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top;">&#9679;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>it is for long-term or short-term financing purposes.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">B-2</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="color: rgb(1, 0, 0);">B.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">Derivatives</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="color: rgb(1, 0, 0);">i.</font>&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160;&#160; <font style="color: rgb(0, 0, 0);">Interest rate derivatives (which shall for the avoidance of doubt include forward rate
        agreements on MMD and BVAL AAA yield curves);</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="color: rgb(1, 0, 0);">ii.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <font style="color: rgb(0, 0, 0);">Swaps, futures, forwards, structured notes, options and swaptions related to Eligible
        Assets or on an index related to Eligible Assets; or</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="color: rgb(1, 0, 0);">iii.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: rgb(0, 0, 0);">Credit default swaps.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="color: rgb(1, 0, 0);">C.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">Other Assets</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="color: rgb(1, 0, 0);">i.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: rgb(0, 0, 0);">Shares of other investment companies (open- or closed-end funds and ETFs) the assets of
        which consist entirely of Eligible Assets based on the Sub-Adviser&#8217;s assessment of the assets of each such investment company taking into account the investment company&#8217;s most recent publicly available schedule of investments and publicly disclosed
        investment policies.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="color: rgb(1, 0, 0);">ii.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: rgb(0, 0, 0);">Cash.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="color: rgb(1, 0, 0);">iii.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: rgb(0, 0, 0);">Repurchase agreements on assets described in A above.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="color: rgb(1, 0, 0);">iv.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: rgb(0, 0, 0);">Taxable fixed-income securities, for the purpose of acquiring control of an issuer whose
        municipal bonds (a) the Issuer already owns and (b) have deteriorated or are expected shortly to deteriorate that such investment should enable the Issuer to better maximize its existing investment in such issuer, provided that the Issuer may
        invest no more than 0.5% of its total assets in such securities.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="color: rgb(1, 0, 0);">D.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <font style="color: rgb(0, 0, 0);">Other assets, upon written agreement of all Holders of the VMTP Shares (&#8220;Holders&#8221;) that such assets are
        eligible for purchase by the Issuer.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(1, 0, 0);">2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <font style="color: rgb(0, 0, 0);">The Investment Adviser has instituted policies and procedures that it believes are sufficient to ensure that
        the Issuer and it comply with the representations, warranties and covenants contained in this Exhibit to this Agreement.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(1, 0, 0);">3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: rgb(0, 0, 0);">The Issuer will, upon request, provide each Holder and their internal and external auditors and inspectors as
        such Holder may from time to time designate, with all reasonable assistance and access to information and records of the Issuer relevant to the Issuer&#8217;s compliance with and performance of the representations, warranties and covenants contained in
        this Exhibit to this Agreement, but only for the purposes of internal and external audit.</font></div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">B-3</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <!--PROfilePageNumberReset%Num%1%C-%%-->
    <div style="text-align: center; font-weight: bold;">EXHIBIT C</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">TRANSFEREE CERTIFICATE</div>
    <div>&#160;</div>
    <div style="text-align: justify;">BNY Mellon Strategic Municipal Bond Fund, Inc.</div>
    <div style="text-align: justify;">240 Greenwich Street</div>
    <div style="text-align: justify;">New York, New York 10286</div>
    <div style="text-align: justify;">Attention:&#160; General Counsel</div>
    <div>&#160;</div>
    <div style="text-align: justify;">Ladies and Gentlemen:</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">Reference is hereby made to the Purchase Agreement (the &#8220;Purchase Agreement&#8221;), dated as of July 12, 2023, between BNY Mellon Strategic Municipal Bond Fund, Inc., a Maryland corporation (the &#8220;Fund&#8221;)
      and Banc of America Preferred Funding Corporation (&#8220;BAPFC&#8221;), a Delaware corporation, including its successors by merger or operation of law. BAPFC is referred to as the &#8220;Transferor&#8221; in this certificate.&#160; Capitalized terms used but not defined herein
      shall have the meanings given them in the Purchase Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">In connection with the proposed sale by the Transferor of __________ Series 2023-1 VMTP Shares (the &#8220;Transferred Shares&#8221;) to the undersigned transferee (the &#8220;Transferee&#8221;), the undersigned agrees and
      acknowledges, on its own behalf, and makes the representations and warranties, on its own behalf, as set forth in this certificate (this &#8220;Transferee Certificate&#8221;) to the Fund and the Transferor:</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Transferee certifies to one of the following (check a box):</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#10065;&#160; it is a &#8220;<font style="font-weight: bold;">qualified institutional buyer</font>&#8221; (a &#8220;QIB&#8221;) (as defined in Rule 144A under the Securities Act or any successor provision) (&#8220;Rule 144A&#8221;) that is (a) a
      registered closed-end management investment company, the shares of which are traded on a national securities exchange, or registered open-end management investment company, in either case, that invests primarily in municipal obligations (each, a
      &#8220;Registered Investment Company&#8221;); (b) bank or entity that is a 100% direct or indirect subsidiary of a bank&#8217;s publicly traded parent holding company (collectively, &#8220;Banks&#8221;); or (c) an insurance company, in each case, pursuant to Rule 144A or another
      available exemption from registration under the U.S. Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), in a manner not involving any public offering within the meaning of Section 4(a)(2) of the Securities Act; or</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#10065;&#160; is a person which the Fund has consented in writing to permit to be the holder of the Transferred Shares.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 36pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; The Transferee certifies that it (check a box):</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#10065;&#160; is not a BNYM Person that after such sale and transfer, would own more than 20% of the Outstanding VMTP Shares; or</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#10065;&#160; is a BNYM Person that after such sale and transfer, would own more than 20% of the Outstanding VMTP Shares and it has received the prior written consent of each of the Fund and the holder(s) of
      more than 50% of the Outstanding VMTP Shares to invest in those shares.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">C-1</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; The Transferee understands and acknowledges that the Transferred Shares are &#8220;restricted securities&#8221; and have not been registered under the Securities Act or any other applicable
      securities law, are being offered for sale pursuant to Rule 144A of the Securities Act or another available exemption from registration under the Securities Act, in a manner not involving any public offering with the meaning of Section 4(a)(2) of the
      Securities Act, and may not be offered, sold or otherwise transferred except in compliance with the registration requirements of the Securities Act or any other applicable securities law, pursuant to an exemption therefrom or in a transaction not
      subject thereto and in each case in compliance with the conditions for transfer set forth in this Transferee Certificate.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; The Transferee is purchasing the Transferred Shares for its own account for investment, and not with a view to, or for offer or sale in connection with, any distribution thereof in
      violation of the Securities Act, subject to any requirements of law that the disposition of its property be at all times within its or their control and subject to its or their ability to resell such securities pursuant to Rule 144A or any exemption
      from registration available under the Securities Act.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; The Transferee agrees on its own behalf and on behalf of each subsequent holder or owner of the Transferred Shares by its acceptance thereof will agree to sell, transfer or otherwise
      dispose of the Transferred Shares only in whole shares and only to (1)(i) to Persons that it reasonably believes are QIBs that are (a) registered closed-end management investment companies, the shares of which are traded on a national securities
      exchange, and registered open-end management investment companies, in each case, that invest primarily in municipal obligations (each, a &#8220;<font style="font-weight: bold;">Registered Investment Company</font>&#8221;); (b) banks or entities that are 100%
      direct or indirect subsidiaries of banks&#8217; publicly traded parent holding companies (collectively, &#8220;<font style="font-weight: bold;">Banks</font>&#8221;); or (c) insurance companies, in each case, pursuant to Rule 144A or another available exemption from
      registration under the Securities Act, in a manner not involving any public offering within the meaning of Section 4(a)(2) of the Securities Act, (ii) to tender option bond trusts (or similar vehicles used for providing financing for municipal
      obligations and municipal closed-end fund preferred shares) in which all investors are Persons that the Transferor reasonably believes are QIBs that are Registered Investment Companies, Banks or insurance companies (or, in the case of a tender option
      bond trust (or similar vehicles used for providing financing for municipal obligations and municipal closed-end fund preferred shares) in which the Holder or an affiliate of the Holder retains a residual interest), or (iii) to other investors with
      the prior written consent of the Issuer and (2) unless the prior written consent of each of the Issuer and the Majority Participants has been obtained, not to BNYM Persons if such BNYM Persons would, after such sale and transfer, own more than 20% of
      the Outstanding VMTP Shares.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Transferee acknowledges that the VMTP Shares were issued in book-entry form and are represented by one global certificate and that the global certificate representing the VMTP Shares
      (unless sold to the public in an underwritten offering of the VMTP Shares pursuant to a registration statement filed under the Securities Act) contains a legend substantially to the following effect:</div>
    <div>&#160;</div>
    <div style="text-align: justify;">THE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &#8220;SECURITIES ACT&#8221;), OR ANY STATE SECURITIES LAW.&#160; NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE
      REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">C-2</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify;">THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF AGREES TO SELL, TRANSFER OR OTHERWISE DISPOSE OF SUCH SECURITY ONLY IN WHOLE SHARES AND ONLY (1)(I) TO PERSONS THAT IT REASONABLY BELIEVES ARE QUALIFIED
      INSTITUTIONAL BUYERS (&#8220;QIBS&#8221;) THAT ARE (A) REGISTERED CLOSED-END MANAGEMENT INVESTMENT COMPANIES, THE SHARES OF WHICH ARE TRADED ON A NATIONAL SECURITIES EXCHANGE, AND REGISTERED OPEN-END MANAGEMENT INVESTMENT COMPANIES, IN EACH CASE, THAT INVEST
      PRIMARILY IN MUNICIPAL OBLIGATIONS (EACH, A &#8220;REGISTERED INVESTMENT COMPANY&#8221;); (B) BANKS OR ENTITIES THAT ARE 100% DIRECT OR INDIRECT SUBSIDIARIES OF BANKS&#8217; PUBLICLY TRADED PARENT HOLDING COMPANIES (COLLECTIVELY, &#8220;BANKS&#8221;); OR (C) INSURANCE COMPANIES,
      IN EACH CASE, PURSUANT TO RULE 144A OR ANOTHER AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT, IN A MANNER NOT INVOLVING ANY PUBLIC OFFERING WITHIN THE MEANING OF SECTION 4(a)(2) OF THE SECURITIES ACT, (II) TO TENDER OPTION BOND
      TRUSTS (OR SIMILAR VEHICLES USED FOR PROVIDING FINANCING FOR MUNICIPAL OBLIGATIONS AND MUNICIPAL CLOSED-END FUND PREFERRED SHARES) IN WHICH ALL INVESTORS ARE PERSONS THAT THE HOLDER REASONABLY BELIEVES ARE QIBS THAT ARE REGISTERED INVESTMENT
      COMPANIES, BANKS OR INSURANCE COMPANIES (OR, IN THE CASE OF A TENDER OPTION BOND TRUST (OR SIMILAR VEHICLES USED FOR PROVIDING FINANCING FOR MUNICIPAL OBLIGATIONS AND MUNICIPAL CLOSED-END FUND PREFERRED SHARES) IN WHICH THE HOLDER OR AN AFFILIATE OF
      THE HOLDER RETAINS A RESIDUAL INTEREST), OR (III) TO OTHER INVESTORS WITH THE PRIOR WRITTEN CONSENT OF THE FUND AND (2) UNLESS THE PRIOR WRITTEN CONSENT OF EACH OF THE FUND AND THE MAJORITY PARTICIPANTS HAS BEEN OBTAINED, NOT TO BNYM PERSONS IF SUCH
      BNYM PERSONS WOULD, AFTER SUCH SALE AND TRANSFER, OWN MORE THAN 20% OF THE OUTSTANDING VMTP SHARES.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">ANY TRANSFER IN VIOLATION OF THE FOREGOING TRANSFER RESTRICTIONS WILL BE VOID <font style="font-style: italic;">AB INITIO</font> AND ANY TRANSFEREE OF VMTP SHARES TRANSFERRED IN VIOLATION OF THE FOREGOING RESTRICTIONS
      SHALL BE DEEMED TO AGREE TO HOLD ALL PAYMENTS IT RECEIVED ON ANY IMPROPERLY TRANSFERRED VMTP SHARES IN TRUST FOR THE BENEFIT OF THE TRANSFEROR OF SUCH VMTP SHARES.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Transferee has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in
      the Transferred Shares, and has so evaluated the merits and risks of such investment.&#160; The Transferee is able to bear the economic risk of an investment in the Transferred Shares and, at the present time, is able to afford a complete loss of such
      investment.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Transferee is not purchasing the Transferred Shares as a result of any advertisement, article, notice or other communication regarding the Transferred Shares published in, nor was it
      offered the Transferred Shares by, any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or, to its knowledge, any other general solicitation or general advertisement.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">C-3</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; Other than consummating the purchase of the Transferred Shares, the Transferee has not directly or indirectly, nor has any person acting on behalf of or pursuant to any understanding
      with the Transferee, executed any other purchases of securities of the Fund which may be integrated with the proposed purchase of the Transferred Shares by the Transferee.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Transferee acknowledges that it has received a copy of the Purchase Agreement and Appendices thereto and agrees to abide by any obligations therein binding on a transferee of the VMTP
      Shares and the confidentiality obligations therein with respect to information relating to the Fund as if it were the Transferor.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Transferee acknowledges that it has received a copy of the Registration Rights Agreement and agrees to abide by any obligations therein binding on a transferee of the VMTP Shares.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">The Transferee acknowledges that, in the event that the Transferor transfers, in accordance with Section 2.1(b) of the Purchase Agreement, VMTP Shares to a tender option bond trust (or similar
      vehicles used for providing financing for municipal obligations and municipal closed-end fund preferred shares) in which the Transferor retains a residual interest and, subject to Section 2.1(c) of the Purchase Agreement, for so long as no event has
      occurred that results in the termination of such tender option bond trust (or similar vehicles used for providing financing for municipal obligations and municipal closed-end fund preferred shares), for purposes of each of the Applicable Sections
      that requires, permits or provides for (i) notice or the delivery of information to or (ii) voting of the VMTP Shares or the giving of any consent by or (iii) payment of fees, in each case, to the Transferor or the Majority Participants, the
      Transferor, and not such tender option bond trust (or similar vehicles used for providing financing for municipal obligations and municipal closed-end fund preferred shares), shall be deemed to be the actual owner of such VMTP Shares.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">12.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Transferee acknowledges that it has been given the opportunity to obtain from the Fund the information referred to in Rule 144A(d)(4) under the Securities Act, and has either declined
      such opportunity or has received such information and has had access to and has reviewed all information, documents and records that it has deemed necessary in order to make an informed investment decision with respect to an investment in the
      Transferred Shares and that the Transferee understands the risk and other considerations relating to such investment.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">13.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Transferee acknowledges that it has sole responsibility for its own due diligence investigation and its own investment decision relating to the Transferred Shares.&#160; The Transferee
      understands that any materials presented to the Transferee in connection with the purchase and sale of the Transferred Shares does not constitute legal, tax or investment advice from the Fund.&#160; The Transferee has consulted such legal, tax and
      investment advisors as it, in its sole discretion, has deemed necessary or appropriate in connection with the purchase of the Transferred Shares.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">C-4</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">14.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Transferee acknowledges that each of the Transferor and the Fund and their respective affiliates and others will rely on the acknowledgments, representations and warranties contained
      in this Transferee&#8217;s Certificate as a basis for exemption of the sale of the Transferred Shares under the Securities Act, under the securities laws of all applicable states, and for other purposes. The Transferee agrees to promptly notify the Fund
      and the Transferor if any of the acknowledgments, representations or warranties set forth herein is no longer accurate.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">15.&#160;&#160;&#160;&#160;&#160;&#160; &#160; If the Transferee is acquiring the Transferred Shares as a fiduciary or agent for one or more investor accounts, it represents that it has investment discretion with respect to each such
      account and that it has full power to make the foregoing acknowledgements, representations and agreements on behalf of each such account.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">16.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; This Transferee&#8217;s Certificate shall be governed by and construed in accordance with the laws of the State of New York.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">17.&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Transferee agrees to provide, together with this completed and signed Transferee&#8217;s Certificate, a completed and signed IRS Form W-9, Form W-8 or successor form, as applicable.</div>
    <div>&#160;</div>
    <div style="text-align: center; margin-left: 36pt;">[Signature Page Follows.]</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">C-5</font></div>
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    </div>
    <div style="text-align: justify;">The undersigned has provided a completed and signed IRS Form W-9, Form W-8 or successor form, as applicable, and has caused this Transferee&#8217;s Certificate to be executed by its duly authorized representative as of the
      date set forth below.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="ze4f3fb9972fa452b8821a72c059a7737">

        <tr>
          <td style="width: 6%; vertical-align: top; padding-bottom: 2px;">
            <div>Date: <br>
            </div>
          </td>
          <td style="width: 25%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 25%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 44%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: top;">&#160;</td>
          <td style="width: 44%; vertical-align: top;">
            <div>Name of Transferee (use exact name in which Transferred Shares are to be registered):</div>
          </td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 44%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div><br>
            </div>
            <div><br>
            </div>
          </td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: top;">&#160;</td>
          <td style="width: 44%; vertical-align: top;">
            <div><br>
            </div>
            <div><br>
            </div>
          </td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: top;">&#160;</td>
          <td style="width: 44%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
            <div>Authorized Signature</div>
          </td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: top;">&#160;</td>
          <td style="width: 44%; vertical-align: top;">
            <div><br>
            </div>
            <div><br>
            </div>
          </td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: top;">&#160;</td>
          <td style="width: 44%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
            <div>Print Name and Title</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" colspan="3" style="vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 44%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: top;">&#160;</td>
          <td style="width: 44%; vertical-align: top;">
            <div>Address of Transferee for Registration of Transferred Shares:</div>
          </td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 44%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div><br>
            </div>
            <div><br>
            </div>
          </td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 44%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div><br>
            </div>
            <div><br>
            </div>
          </td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 44%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div><br>
            </div>
            <div><br>
            </div>
          </td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: top;">&#160;</td>
          <td style="width: 44%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: top;">&#160;</td>
          <td style="width: 44%; vertical-align: top;">
            <div>Transferee&#8217;s taxpayer identification number:</div>
          </td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 44%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div><br>
            </div>
            <div><br>
            </div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">C-6</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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    <div style="text-align: center; font-weight: bold;">EXHIBIT D</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">ADDITIONAL REPRESENTATIONS AND WARRANTIES</div>
    <div>&#160;</div>
    <div style="text-align: center;">(Given only as of the Effective Date)</div>
    <div>&#160;</div>
    <div style="text-align: justify;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Assuming compliance by the Purchaser of its representations, warranties, covenants and agreements in this Agreement, no registration of the VMTP Shares under the Securities Act is required.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;As of the Effective Date, the VMTP Shares will satisfy the eligibility requirements of Rule 144A(d)(3) under the Securities Act, and no securities of the same class (within the meaning of Rule 144A(d)(3)
      under the Securities Act) as the VMTP Shares are listed on any national securities exchange registered under Section 6 of the Securities Exchange Act<font style="font-weight: bold;">&#160;</font>of 1934, as amended, or quoted in a U.S. automated
      inter-dealer quotation system.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; The Issuer will take all reasonable measures to ensure that any Bloomberg screen containing information about the VMTP Shares includes the following (or similar) language:</div>
    <div>&#160;</div>
    <div style="text-align: justify;">&#8226;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; the &#8220;DES&lt;go&gt;&#8221; page will state that &#8220;2023-1 VMTP Shares are offered per the exemption from registration under Rule 144A of the 1933 Act to qualified institutional buyers (as defined in Rule 144A)&#8221;.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; The Issuer will instruct The Depository Trust Company (&#8220;DTC&#8221;) to take these or similar steps with respect to the VMTP Shares:</div>
    <div>&#160;</div>
    <div style="text-align: justify;">&#8226;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; the DTC 20-character security descriptor and 48-character additional descriptor will indicate that sales are limited to QIBs.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; The Issuer has confirmed that CUSIP has established a &#8220;fixed field&#8221; attached to the CUSIP number for the VMTP Shares containing the &#8220;144A&#8221; indicator.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Issuer has made in the past five (5) years all the filings with the Securities and Exchange Commission that it is required to make under the 1940 Act and the rules and regulations thereunder (the &#8220;1940
      Act Rules and Regulations&#8221;) (each such filing, a &#8220;1940 Act Document&#8221;) and each 1940 Act Document complied at the time of filing in all material respects with the requirements of the 1940 Act and the 1940 Act Rules and Regulations.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; Other than the pursuant to the Registration Rights Agreement, no holders of the VMTP Shares have rights to the registration of such VMTP Shares.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; The Issuer is not in violation or default of any provision of its Charter or the Articles Supplementary, or in material violation of (i) the terms of any material indenture, contract, lease, mortgage, deed
      of trust, note agreement, loan agreement or other agreement, obligation, condition, covenant or instrument to which it is a party or bound or to which its property is subject or (ii) any material statute, law, rule, regulation, judgment, order or
      decree of any court, regulatory body, administrative agency, governmental body, arbitrator or other authority having jurisdiction over the Issuer or any of its properties, except to the extent that the same would not be reasonably expected to give
      rise to a Material Adverse Effect.</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">D-1</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; The Issuer has not distributed and, prior to the Effective Date, will not distribute any written material in connection with the offer of the VMTP Shares other than copies of the Offering Memorandum,
      Articles Supplementary, the Purchase Agreement and the Registration Rights Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">10.&#160;&#160;&#160;&#160;&#160;&#160; The Issuer has not taken, directly or indirectly, any action designed to or that would constitute or that reasonably would be expected to cause or result in stabilization or manipulation of the price of any
      security of the Issuer to facilitate the sale of the VMTP Shares, and the Issuer is not aware of any such action taken or to be taken by any affiliates of the Issuer.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each of the Management Agreement, dated August 24, 1994, amended as of September 1, 2019, between the Issuer and the Investment Adviser; the Sub-Investment Advisory Agreement, dated September 1, 2021,
      between the Investment Adviser and the Sub-Adviser; the Custody Agreement, dated as of January 1, 2011, as amended, between the Issuer and The Bank of New York Mellon; and the Transfer Agency and Service Agreement, dated December 1, 2013, between the
      Issuer and Computershare Trust Company, N.A. and Computershare Inc., complies in all material respects with all applicable provisions of the 1940 Act, the 1940 Act Rules and Regulations and the Advisory Agreements have been approved in accordance
      with Sections 15(a) and (c) of the 1940 Act.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">12.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Other than those taxes and fees that customary in connection with the sale of securities, there are no transfer taxes or other similar fees or charges under federal law or the laws of any state, or any
      political subdivision thereof, required to be paid in connection with the execution and delivery of this Agreement or the issuance by the Issuer of the VMTP Shares.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">13.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Issuer has adopted and implemented written policies and procedures reasonably designed to prevent violation of the Federal Securities Laws (as that term is defined in Rule 38a-1 under the 1940 Act) by
      the Issuer, including policies and procedures that provide oversight of compliance by each investment adviser and transfer agent of the Issuer.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">14.&#160;&#160;&#160;&#160;&#160;&#160; Assuming compliance by the Purchaser of its representations, warranties, covenants and agreements in this Agreement, the offer and sale of the VMTP Shares has been conducted in a manner by the Issuer and its
      agents so as not to violate any applicable federal securities laws, including the 1940 Act and the 1940 Act Rules and Regulations, the Investment Advisers Act of 1940, as amended, and the rules and regulations thereunder, or any applicable New York
      state laws.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">D-2</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; font-weight: bold;">EXHIBIT E</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">CAPITALIZATION</div>
    <div>&#160;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The following table sets forth the Preferred Shares capitalization of the Fund as of July 12, 2023 after giving effect to the transactions contemplated by this Agreement and the consummation of the Fund&#8217;s redemption of
      its Auction Preferred Stock.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" class="cfttable" id="zce3730bdb1fa414cb3e946a4c95d1170" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;">

        <tr>
          <td valign="bottom" style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);">
            <div>
              <div style="text-indent: -9pt; margin-left: 9pt;">Series 2023-1 Variable Rate MuniFund Term Preferred Shares (VMTP), liquidation preference $25,000 per share (1,972 shares outstanding)</div>
            </div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>49,300,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 88%;">
            <div style="margin-left: 9pt; text-indent: -9pt;">&#160;</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);">
            <div>
              <div style="text-indent: -9pt; margin-left: 9pt;">Auction Preferred Stock (APS), liquidation preference $25,000 per share (0 shares outstanding)</div>
            </div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
            <div>$</div>
          </td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
            <div>0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 88%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;"><br>
            </div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);">
            <div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Total Preferred Shares Capitalization</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
            <div style="font-weight: bold;">$</div>
          </td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
            <div style="font-weight: bold;">49,300,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>

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      <div style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">E-1</font></div>
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<DOCUMENT>
<TYPE>EX-99.5
<SEQUENCE>6
<FILENAME>brhc20056072_ex99-5.htm
<DESCRIPTION>EXHIBIT 99.5
<TEXT>
<html>
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    <title></title>
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  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 99.5</font><br>
  </div>
  <div style="text-align: right;"><font style="font-weight: bold;"> <br>
    </font></div>
  <div>
    <div style="text-align: center; font-weight: bold;">REGISTRATION RIGHTS AGREEMENT</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">THIS REGISTRATION RIGHTS AGREEMENT (this &#8220;<font style="font-weight: bold;">Agreement</font>&#8221;), executed as of July 12, 2023, is made between (i) BNY Mellon Strategic Municipal Bond Fund, Inc., a
      closed-end management investment company organized as a Maryland corporation (the &#8220;<font style="font-weight: bold;">Fund</font>&#8221;), and (ii) Banc of America Preferred Funding Corporation, a Delaware corporation, including its successors by merger or
      operation of law (&#8220;<font style="font-weight: bold;">Banc of America</font>&#8221; or the &#8220;<font style="font-weight: bold;">Shareholders</font>&#8221;).</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">RECITALS</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">A.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: rgb(0, 0, 0);">As of the date hereof, Banc of America holds </font>1,972<font style="color: rgb(0, 0, 0);"> VMTP Shares (as defined below) issued by the Fund; and</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">B.</font>&#160;&#160;&#160; &#160; &#160; <font style="color: rgb(0, 0, 0);">The Fund and the Shareholders have entered into that certain VMTP Purchase Agreement dated as of July </font>12,

      2023<font style="color: rgb(0, 0, 0);"> (the &#8220;</font><font style="font-weight: bold; color: rgb(0, 0, 0);">Purchase Agreement</font><font style="color: rgb(0, 0, 0);">&#8221;), regarding the purchase of the </font>VMTP Share<font style="color: rgb(0, 0, 0);">s (as defined below) of the Fund and certain other rights and obligations of the parties thereto as set forth therein.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">NOW THEREFORE, </font>the Parties hereby agree to enter into this Agreement to provide for certain registration rights as follows<font style="color: rgb(0, 0, 0);">:</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Certain Definitions</font>.&#160; As used in this Agreement, the following terms have the following respective
      meanings:</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 72pt;">&#8220;<font style="font-weight: bold;">1940 Act</font>&#8221; means the Investment Company Act of 1940, as amended.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Affiliate</font>&#8221; means, with respect to any Person, any other Person directly or indirectly Controlling, Controlled by, or under common Control with such Person
      (including any subsidiary) and &#8220;<font style="font-weight: bold;">Affiliates</font>&#8221; shall have correlative meaning.&#160; For the purpose of this definition, the term &#8220;<font style="font-weight: bold;">Control</font>&#8221; (including with correlative meanings,
      the terms &#8220;<font style="font-weight: bold;">Controlling</font>&#8221;, &#8220;<font style="font-weight: bold;">Controlled by</font>&#8221; and<font style="font-weight: bold;">&#160;</font>&#8220;<font style="font-weight: bold;">under common Control with</font>&#8221;), as used with
      respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities or by contract or otherwise.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Agreement</font>&#8221; has the meaning set forth in the preamble to this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Articles Supplementary</font>&#8221; means the Articles Supplementary, as the same may be amended, restated, supplemented or otherwise modified from time to time in
      accordance with the terms thereof. &#8220;<font style="font-weight: bold;">Underwriters&#8217; Representative</font>&#8221; has the meaning set forth in Section 3.3(b) of this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Banc of America</font>&#8221; has the meaning set forth in the preamble to this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Blue Sky</font>&#8221; means the statutes of any state regulating the sale of corporate securities within that state.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">BNYM Persons</font>&#8221; means the Investment Adviser <font style="color: rgb(0, 0, 0);">(as defined below) </font>and affiliated persons (as defined in Section
      2(a)(3) of the 1940 Act) of the Investment Adviser <font style="color: rgb(0, 0, 0);">(as defined below)</font>.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Board</font>&#8221; means the board of directors of the Fund or any duly authorized committee thereof.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">1</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Business Day</font>&#8221; means any day (a) other than a day on which commercial banks in the City of New York, New York are required or authorized by law or executive
      order to close and (b) the New York Stock Exchange is not closed.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Commission</font>&#8221; means the United States Securities and Exchange Commission.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Demand Registration</font>&#8221; has the meaning set forth in Section 3.1 of this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Effective Date</font>&#8221; means the date of this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">FINRA</font>&#8221; shall mean the Financial Industry Regulatory Authority or any successor.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Form N-2</font>&#8221; means such form used by closed-end management investment companies for filing a registration statement and any amendment thereto (i) under Section
      8(b) of the 1940 Act; (ii) under the Securities Act <font style="color: rgb(0, 0, 0);">(as defined below)</font>; or (iii) any combination of (i) and (ii) in effect on the date hereof or any successor registration form adopted by the Commission.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Fund</font>&#8221; has the meaning set forth in the preamble to this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Fund Indemnified Persons</font>&#8221; means, the Fund and its affiliates and directors, officers, partners, employees, agents, representatives and control persons,
      entitled to indemnification by the Holders under Section 7 of this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Holder</font>&#8221; means each of the Shareholders and any Permitted Transferees <font style="color: rgb(0, 0, 0);">(as defined below) </font>of the Shareholders
      entitled to the rights, and bound by the obligations under, this Agreement in accordance with Section 8.11 of this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Holder Indemnified Persons</font>&#8221; means, with respect to the Holder, such Holder and its affiliates and directors, officers, partners, employees, agents,
      representatives and control persons, entitled to indemnification by the Fund under Section 7.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Initiating Holder(s)</font>&#8221; has the meaning set forth in Section 3.1 of this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Investment Adviser</font>&#8221; means BNY Mellon Investment Adviser, Inc., or any successor company or entity thereto, and any successor investment adviser to the Fund.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Majority Holders</font>&#8221; means the Holder(s) of more than 50% of the Outstanding VMTP Shares, provided that it must include at least one of the Shareholders and its
      Permitted Transferees.</div>
    <div>&#160;</div>
    <div style="text-align: justify; margin-left: 72pt;">&#8220;<font style="font-weight: bold;">Outstanding</font>&#8221; has the meaning set forth in the Articles Supplementary.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Parties</font>&#8221; means collectively the Fund, the Shareholders and any Permitted Transferee who becomes a party to this Agreement.&#160; Each of the Parties shall be
      referred to as a &#8220;<font style="font-weight: bold;">Party</font>.&#8221;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="color: rgb(0, 0, 0);">&#8220;</font><font style="font-weight: bold; color: rgb(0, 0, 0);">Permitted Transferee</font><font style="color: rgb(0, 0, 0);">&#8221; means, on any date </font>prior to
      the<font style="color: rgb(0, 0, 0);">&#160;</font>VMTP Shares having been registered under the Securities Act <font style="color: rgb(0, 0, 0);">(as defined below)</font>, <font style="color: rgb(0, 0, 0);">any Person permitted to be a Holder of VMTP
        Shares pursuant to Section 2.19 of the </font>Articles Supplementary to which VMTP Shares are transferred in compliance with Section 8.11 of this Agreement.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">2</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Person</font>&#8221; means and includes an individual, a partnership, the Fund, a trust, a corporation, a limited liability company, an unincorporated association, a joint
      venture or other entity or a government or any agency or political subdivision thereof.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Prospectus</font>&#8221; shall mean the prospectus included in a Registration Statement <font style="color: rgb(0, 0, 0);">(as defined below)</font>, including any
      preliminary prospectus, any prospectus filed by the Fund under Rule 430A or Rule 497 (or any successor rules) under the Securities Act <font style="color: rgb(0, 0, 0);">(as defined below) </font>in connection therewith, and any advertising or
      sales material prepared by the Fund and filed under Rule 482 under the Securities Act <font style="color: rgb(0, 0, 0);">(as defined below) </font>in connection therewith, including in each such case all amendments and supplements to any such
      prospectus, advertising or sales material, and in each case including all material incorporated by reference therein.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Public Offering</font>&#8221; means an offering of Registrable Securities <font style="color: rgb(0, 0, 0);">(as defined below) </font>pursuant to an effective
      registration statement under the Securities Act <font style="color: rgb(0, 0, 0);">(as defined below)</font>.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="color: rgb(0, 0, 0);">&#8220;</font><font style="font-weight: bold; color: rgb(0, 0, 0);">Purchase Agreement</font><font style="color: rgb(0, 0, 0);">&#8221; has </font>the<font style="color: rgb(0, 0, 0);"> meaning set forth in the recitals to this Agreement.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="color: rgb(0, 0, 0);">&#8220;</font><font style="font-weight: bold; color: rgb(0, 0, 0);">Registration</font><font style="color: rgb(0, 0, 0);">&#8221; means a registration of securities effected by
        preparing and filing a Registration Statement (as defined below) and the declaration or </font>ordering<font style="color: rgb(0, 0, 0);"> of the effectiveness of that Registration Statement, and the terms &#8220;</font><font style="font-weight: bold; color: rgb(0, 0, 0);">Register</font><font style="color: rgb(0, 0, 0);">&#8221; and &#8220;</font><font style="font-weight: bold; color: rgb(0, 0, 0);">Registered</font><font style="color: rgb(0, 0, 0);">&#8221; have meanings correlative with the foregoing.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Registrable Securities</font>&#8221; means (i) VMTP Shares owned by either Shareholder or any Permitted Transferee; and (ii) VMTP Shares or any other securities of the
      Fund issued as a dividend or other distribution with respect to, or in exchange for, or in replacement of, the VMTP Shares referred to in clause (i).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Registration Expenses</font>&#8221; means all expenses incurred by the Fund in complying with Section 3 of this Agreement, including, without limitation, all Registration,
      qualification, and filing fees, printing expenses, fees and disbursements of counsel for the Fund, reasonable fees and disbursements of one special counsel (selected by the Majority Holders) for all Holders (if different from counsels to the Fund) up
      to an amount not to exceed U.S. $75,000, reasonable Blue Sky fees and expenses, the expense of any reasonably necessary special audits or comfort letters incident to or required by a Registration and the reasonable costs and expenses of attending
      domestic road show presentations.&#160; Registration Expenses do not include any underwriting discounts or commissions or any fees or expenses of counsel to the Holders in excess of such U.S. $75,000 amount referred to above.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Registration Statement</font>&#8221; means a registration statement prepared on Form N-2 under the Securities Act <font style="color: rgb(0, 0, 0);">(as defined below) </font>including

      the related preliminary prospectus or prospectuses.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">Securities Act</font>&#8221; means the United States Securities Act of 1933, as amended, and, as applicable, the rules and regulations of the Commission promulgated
      thereunder, all as from time to time in effect.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="color: rgb(0, 0, 0);">&#8220;</font><font style="font-weight: bold; color: rgb(0, 0, 0);">Shareholders</font><font style="color: rgb(0, 0, 0);">&#8221; has the meaning </font>set<font style="color: rgb(0, 0, 0);"> forth in the preamble to this Agreement.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">U.S. $</font>&#8221; means United States dollars.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">3</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: justify; text-indent: 72pt;">&#8220;<font style="font-weight: bold;">VMTP Shares</font>&#8221; means the Series 2023-1 Variable Rate MuniFund Term Preferred Shares of the Fund, with par value of U.S. $0.001 per share and a liquidation
      preference of U.S. $25,000 per share.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Registration Rights; Applicability of Rights.</font>&#160; The Holders shall be entitled to the rights with respect to
      the registration of the Registrable Securities set forth in this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Demand Registration.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">3.1. <font style="font-style: italic;">Request for Registration</font>.&#160; If the Fund receives from the Majority Holders (referred to as the &#8220;<font style="font-weight: bold;">Initiating Holder(s)</font>&#8221;)

      a request in writing that the Fund effect any Registration with respect to the Registrable Securities held by such Initiating Holder(s), subject to the terms of this Agreement, the Fund shall (i) within ten (10) Business Days of receipt of such
      written request, give written notice of the proposed Registration to all other Holders; and (ii) as soon as practicable, use its commercially reasonable efforts to file a registration statement for those Registrable Securities (&#8220;<font style="font-weight: bold;">Demand Registration</font>&#8221;) which the Fund has been so requested to register within thirty (30) calendar days or, if the 30<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> calendar day shall not be a Business day, the next succeeding Business Day, and to
      use commercially reasonable efforts to make such registration statement effective for such Registrable Securities, together with all other Registrable Securities which the Fund has been requested to register by Holders thereof by written request
      given to the Fund within ten (10) days after receiving written notice from the Fund, subject to the limitations of this Section 3.&#160; The Fund shall not be obligated to take any action to effect any Registration pursuant to this Section 3.1 after the
      Fund has effected one Registration pursuant to this Section 3.1 and such Registration has not been subject to a &#8220;stop order&#8221; of the Commission.&#160; The Demand Registration may be exercised only once prior to the Term Redemption Date, as defined in the
      Articles Supplementary, and may not be exercised within 150 days of the Term Redemption Date.&#160; The substantive provisions of Section 3.3 shall be applicable to any Registration initiated under this Section 3.1.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">3.2. <font style="font-style: italic;">Right of Deferral</font>.&#160; Notwithstanding the foregoing, the Fund shall not be obligated to file a Registration Statement pursuant to this Section 3 if the
      Fund furnishes to the Initiating Holders a certificate signed by the chief executive officer of the Fund or the chairman of the Board stating that, in the good faith judgment of the Board, filing in the near future a Registration Statement pursuant
      to this Section 3 could reasonably be expected to be seriously detrimental to the Fund or its shareholders.&#160; In such event, the Fund&#8217;s obligation to use its commercially reasonable efforts to file a Registration Statement shall be deferred for a
      period not to exceed ninety (90) days from the receipt of the request to file the Registration Statement by the Initiating Holder(s) (for purposes of this Section 3.2, a <font style="font-weight: bold;">&#8220;90-day period&#8221;</font>); <font style="font-style: italic;">provided</font>, that the Fund shall not exercise the right to delay a request contained in this Section 3.2 more than once in any 12-month period, and <font style="font-style: italic;">provided further</font>, that
      during such 90-day period, the Fund shall not file a Registration Statement with respect to any preferred shares of the Fund except as agreed to in writing by the Parties.</div>
    <div>&#160;</div>
    <div style="text-indent: 72pt;">3.3. <font style="font-style: italic;">Underwriting in Demand Registration</font>.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-style: italic;">Notice of Underwriting</font>.&#160; If the Initiating Holder(s) intend to distribute the Registrable Securities covered by their request
      by means of an underwriting, they shall so advise the Fund as a part of their request made pursuant to this Section 3, and the Fund shall include that information in the written notice referred to in Section 3.1 of this Agreement.&#160; The right of any
      Holder to request Registration pursuant to this Section 3 shall be conditioned upon such Holder&#8217;s agreement to participate in the underwriting and the inclusion of that Holder&#8217;s Registrable Securities in the underwriting to the extent provided
      herein.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">4</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-style: italic;">Selection of Underwriter in Demand Registration</font>.&#160; The Fund shall (together with all Holders proposing to distribute their
      Registrable Securities through the underwriting) enter into an underwriting agreement in customary form for an underwritten offering made solely by selling shareholders with the underwriter or, if more than one, the lead underwriter acting as the
      representative of the underwriters (such underwriter or lead underwriter, in either case, the &#8220;<font style="font-weight: bold;">Underwriters&#8217; Representative</font>&#8221;) selected for the underwriting by the Initiating Holder(s) and with the consent of
      the Fund, not to be unreasonably withheld.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-style: italic;">Marketing Limitation in Demand Registration</font>.&#160; Notwithstanding any other provision of this Section 3, in the event the
      Underwriters&#8217; Representative advises the Fund in writing that market factors (including, without limitation, the aggregate number of VMTP Shares requested to be Registered, the general condition of the market, and the status of the Persons proposing
      to sell securities pursuant to the Registration) require a limitation of the number of shares to be underwritten, then the Fund shall so advise all Holders of Registrable Securities that would otherwise be underwritten pursuant hereto, and the number
      of shares of Registrable Securities that may be included in the Registration and underwriting shall be allocated among all Holders of such Registrable Securities on a pro rata basis based on the number of Registrable Securities requested to be
      included in the Registration by all such selling Holders (including the Initiating Holder(s)); <font style="font-style: italic;">provided, however</font>, that the number of Registrable Securities to be included in any such underwriting held by
      Holders shall not be reduced unless all other securities of the Fund, its Affiliates and BNYM Persons are first entirely excluded from the underwriting.&#160; Unless the prior written consent of the Majority Holders has been obtained, the number of the
      Registrable Securities included in any such underwriting shall not be reduced to less than 90% of the number of the Registrable Securities requested to be included.&#160; Any Registrable Securities or other securities excluded from the underwriting by
      reason of this Section 3.3(c) shall be withdrawn from the Registration.&#160; To facilitate the allocation of shares in accordance with the foregoing, the Fund or the underwriters may round the number of shares allocated to any Holder to the nearest one
      share.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-style: italic;">Right of Withdrawal in Demand Registration</font>.&#160; If any Holder of Registrable Securities (other than the Initiating Holder(s))
      disapproves of the terms of the underwriting, such Holder may elect to withdraw therefrom by written notice to the Fund and the Underwriters&#8217; Representative proposing to distribute their securities through the underwriting, delivered at least twenty
      (20) days prior to the effective date of the Registration Statement.&#160; If any Initiating Holder elects to withdraw, such withdrawal shall be conditioned on the payment by such withdrawing Initiating Holder to the Fund of the Registration Expenses
      incurred in connection with such withdrawal.&#160; Such payment obligation shall be joint and several among the withdrawing Initiating Holders, and the payment shall be made within thirty (30) days after the delivery to the withdrawing Initiating Holders
      of an invoice stating such Registration Expenses in reasonable detail.&#160; An Initiating Holder&#8217;s Demand Registration rights shall be terminated if such Initiating Holder elects to withdraw pursuant to this Section 3.3(d); provided however, such rights
      shall be preserved if all additional Holders who had elected to participate also withdraw from such underwriting.&#160; The securities so withdrawn shall also be withdrawn from the Registration Statement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">4.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Expenses of Registration</font>.&#160; Subject to Section 3.3(d), all Registration Expenses incurred in connection with
      any Registration pursuant to Section 3.1 shall be borne by the Fund.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">5</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Assignability of Registration Rights; Termination of Registration Rights; Limitation on Subsequent Registration
        Rights</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">5.1.&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-style: italic;">Assignability of Registration Rights.</font>&#160; Except as provided in Section 8.11, no Party may assign, delegate or otherwise transfer any of its rights
      or obligations under this Agreement without the written consent of the other Party to this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">5.2. &#160; &#160; &#160; <font style="font-style: italic;">Termination of Registration Rights. </font> The rights to cause the Fund to register Registrable Securities granted under Section 3 of this Agreement
      and to receive notices pursuant to Section 3 of this Agreement, shall terminate on the earliest of (i) 150 days prior to the Term Redemption Date, as provided in Section 3.1; (ii) a notice of redemption having been issued by the Fund pursuant to the
      Articles Supplementary for the redemption of all of the Registrable Securities, or the repurchase by the Fund (including by exchange of securities) and cancellation of all of the Registrable Securities; (iii) the date a Demand Registration has been
      effected and the Registrable Securities have been sold or otherwise disposed of in accordance with the plan of distribution set forth in the Registration Statement and Prospectus relating thereto or all Holders have withdrawn from the Demand
      Registration; and (iv) with respect to an Initiating Holder, the date that the Initiating Holder&#8217;s Demand Registration rights are terminated pursuant to Section 3.3(d).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">6.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Registration Procedures and Obligations</font>.&#160; Whenever required under this Agreement to effect the Registration
      of any Registrable Securities, the Fund shall, as expeditiously as commercially reasonably possible (subject to the notice provisions of Section 3.1):</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i) prepare and file with the Commission a Registration Statement which (x) shall be on Form N-2, if available, (y) shall be available for the sale or exchange of the
      Registrable Securities in accordance with the intended method or methods of distribution by the selling Holders thereof, and (z) shall in all material respects comply as to form with the requirements of the applicable form and include all financial
      statements required by the Commission to be filed therewith and all other information reasonably requested by the Underwriters&#8217; Representative to be included therein relating to the underwriters and plan of distribution for the Registrable
      Securities; (ii) use its commercially reasonable efforts to cause such Registration Statement to become effective and remain effective for up to 90 days or, if earlier, until the Holder or Holders have completed the distribution thereto or withdrawn
      from such plan of distribution; (iii) cause each Registration Statement, as of the effective date of such Registration Statement, (x) to comply in all material respects with any applicable requirements of the Securities Act and (y) not to contain any
      untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; and (iv) cause each Prospectus,
      as of the date thereof, (x) to comply in all material respects with any requirements of the Securities Act and (y) not to contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to
      make the statements therein, in light of the circumstances under which they were made, not misleading;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160; subject to Section 6(a), prepare and file with the Commission such amendments and post-effective amendments to such Registration Statement as may be necessary to keep
      such Registration Statement effective for the applicable period; cause each such Prospectus to be supplemented by any required prospectus supplement, and as so supplemented to be filed pursuant to applicable rules under the Securities Act; and comply
      in all material respects with the provisions of the Securities Act with respect to the disposition of all Registrable Securities covered by such Registration Statement during the applicable period set forth in Section 6(a)(ii) in accordance with the
      intended method or methods of distribution by the selling Holders thereof, as set forth in such Registration Statement;</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">6</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160; furnish to each Holder for which the Registrable Securities are being registered and to each underwriter of an underwritten offering of the Registrable Securities, if
      any, without charge, as many copies of each Prospectus, including, without limitation, each preliminary Prospectus, and any amendments or supplements thereto and such other documents as such Holder or underwriter may reasonably request in order to
      facilitate the public sale or other disposition of the Registrable Securities; the Fund hereby consents to the use of the Prospectus, including, without limitation, each preliminary Prospectus, by each Holder for which the Registrable Securities are
      being registered and each underwriter of an underwritten Public Offering of the Registrable Securities, if any, in connection with the offering and sale of the Registrable Securities covered by the Prospectus or the preliminary Prospectus, as
      applicable;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i) use its commercially reasonable efforts to register or qualify the Registrable Securities, no later than the time the applicable Registration Statement is declared
      effective by the Commission, under all applicable state securities or Blue Sky laws of such United States jurisdictions as the Underwriters&#8217; Representative, if any, or any Holder having Registrable Securities covered by a Registration Statement,
      shall reasonably request; (ii) use its commercially reasonable efforts to keep each such registration or qualification effective during the period such Registration Statement is required to be kept effective; and (iii) do any and all other acts and
      things which may be reasonably necessary to enable each underwriter, if any, and any such Holder to consummate the disposition in each such jurisdiction of such Registrable Securities the registration of which such Holder is requesting; <font style="font-style: italic;">provided</font>, <font style="font-style: italic;">however</font>, that the Fund shall not be obligated to qualify to do business or to a file a general consent to service of process in any such state or jurisdiction,
      unless the Fund is already subject to service in such jurisdiction and except as may be required by the Securities Act;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; notify each Holder for which the Registrable Securities are being registered promptly, and, if requested by such Holder, confirm such advice in writing, (i) when such
      Registration Statement has become effective and when any post-effective amendments and supplements thereto become effective; (ii) of the issuance by the Commission or any state securities authority of any stop order, injunction or other order or
      requirement suspending the effectiveness of such Registration Statement or the initiation of any proceedings for that purpose; (iii) if, between the effective date of such Registration Statement and the closing of any sale of Registrable Securities
      covered thereby pursuant to any agreement to which the Fund is a party relating to such sale, the representations and warranties of the Fund contained in such agreement cease to be true and correct in all material respects or if the Fund receives any
      notification with respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation of any proceeding for such purpose; and (iv) when the Fund discovers the happening of any event during the
      period such Registration Statement is effective as a result of which such Registration Statement or the related Prospectus contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary
      to make the statements therein, in light of the circumstances under which they were made, not misleading;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;furnish to a designated single counsel for each of the underwriters (if any) and for the Holders for which the Registrable Securities are being registered, copies of
      any request by the Commission or any state securities authority for amendments or supplements to a Registration Statement and Prospectus or for additional information;</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">7</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;use its commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of a Registration Statement at the earliest possible time;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;upon request, furnish to the Underwriters&#8217; Representative of an underwritten Public Offering of the Registrable Securities (if any), without charge, at least one
      signed copy of such Registration Statement and any post-effective amendment thereto, including financial statements and schedules, all documents incorporated therein by reference and all exhibits; and upon request furnish to each Holder for which the
      Registrable Securities are being registered, without charge, at least one conformed copy of each Registration Statement and any post-effective amendment thereto (without documents incorporated therein by reference or exhibits thereto, unless
      requested);</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;upon the Fund&#8217;s discovery of the occurrence of any event contemplated by paragraph (e)(iv) of this Section, use commercially reasonable efforts to prepare a supplement
      or post-effective amendment to such Registration Statement or the related Prospectus, or any document incorporated therein by reference, or file any other required document so that, as thereafter delivered to the purchasers of the Registrable
      Securities, such Prospectus will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were
      made, not misleading;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; enter into customary agreements (including, in the case of an underwritten Public Offering, underwriting agreements in customary form for sales only by selling
      shareholders, and including provisions with respect to indemnification and contribution in customary form and consistent with the provisions relating to indemnification and contribution contained herein) and take all other customary and appropriate
      actions that are commercially reasonable in order to expedite or facilitate the disposition of such Registrable Securities in accordance with the plan of distribution set forth in the Registration Statement and the Prospectus, and in connection
      therewith:</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; in the case of any underwritten Public Offering, make such representations and warranties, in such form, substance and scope as are customarily made by issuers to
      underwriters in similar underwritten offerings, to (x) the underwriters, and (y) insofar as they relate to the nature and the validity of the offering, the selling Holders of such Registrable Securities;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(ii)&#160; &#160; &#160;&#160;&#160;&#160; in the case of any underwritten Public Offering, obtain opinions of counsel to the Fund and updates thereof (if any) addressed to (x) the underwriters, and (y) insofar
      as they relate to the nature and the validity of the offering, each selling Holder, covering the matters customarily covered in opinions requested in similar underwritten offerings and such other matters as may be reasonably requested by underwriters
      and such Holders (and which opinions (in form, scope and substance) shall be reasonably satisfactory to the Underwriters&#8217; Representative, if any, and, where relevant, the Majority Holders of the Registrable Securities being sold);</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160; in the case of any underwritten Public Offering, obtain &#8220;comfort&#8221; letters or &#8220;agreed-upon procedures&#8221; letters and updates thereof from the Fund&#8217;s independent registered
      public accounting firm addressed to the selling Holders of the Registrable Securities, if permissible, and underwriters, which letters shall be customary in form and shall cover matters of the type customarily covered in such letters to underwriters
      and such Holders in connection with firm commitment underwritten offerings;</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">8</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160; to the extent requested and customary for the relevant transaction, enter into a securities sales agreement with the selling Holders providing for, among other things,
      the appointment of such representative as agent for the selling Holders for the purpose of soliciting purchases of the Registrable Securities, which agreement shall be customary in form, substance and scope and shall contain customary
      representations, warranties and covenants relating to the nature and validity of the offering; and</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(v)&#160;&#160;&#160; &#160; &#160; deliver such customary documents and certificates as may be reasonably requested by a designated representative of the Majority Holders of the Registrable Securities
      being sold (the &#8220;<font style="font-weight: bold;">Designated Representative</font>&#8221;) or by the Underwriters&#8217; Representative, if any.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(k)&#160;&#160;&#160;&#160;&#160;&#160; make available for inspection by the Designated Representative and by any underwriters participating in any disposition pursuant to such Registration Statement and a
      single counsel or accountant retained by such Holders or by counsel to such underwriters, all relevant material financial and other records, pertinent material corporate documents and properties of the Fund, except to the extent prohibited by law or
      regulation, and cause the respective officers, directors and employees of the Fund to supply all material information reasonably requested by such Designated Representative, underwriter, counsel or accountant in connection with such Registration
      Statement, provided that, prior to providing such information, the requesting party shall have entered into a confidentiality agreement satisfactory to the Fund;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160; within a reasonable time prior to the filing of any Registration Statement, any Prospectus, any amendment to a Registration Statement or amendment or supplement to a
      Prospectus, provide copies of such document to the selling Holders of the Registrable Securities and to counsel to such Holders and to the underwriter or underwriters of a underwritten Public Offering of the Registrable Securities, if any; fairly
      consider such reasonable changes in any such document prior to or after the filing thereof as the counsel to the Holders or the underwriter or the underwriters may request and not file any such document in a form to which the Majority Holders of the
      Registrable Securities being registered or any Underwriters&#8217; Representative shall reasonably object unless required by law; and make such of the representatives of the Fund as shall be reasonably requested by the Designated Representative or the
      Underwriters&#8217; Representative available for discussion of such document;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(m)&#160;&#160;&#160;&#160;&#160;&#160; otherwise use its commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, including making available to its security
      holders an earnings statement covering at least 12 months which shall satisfy the provisions of the Securities Act and the rules thereunder;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(n)&#160;&#160;&#160;&#160;&#160;&#160; cooperate and assist with all reasonable requests relating to any filings required to be made with FINRA and in the performance of any due diligence investigation by any
      underwriter in an underwritten offering; and</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">9</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(o)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; use its commercially reasonable efforts to facilitate the distribution and sale of any Registrable Securities to be offered pursuant to this Agreement, including
      without limitation by participating in domestic road show presentations, holding meetings with potential investors and taking such other actions as shall be reasonably requested by the Designated Representative or the lead managing underwriter of an
      underwritten offering.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">Each selling Holder of the Registrable Securities as to which any Registration is being effected pursuant to this Agreement agrees, as a condition to the Registration obligations with respect to such
      Holder provided herein, to furnish to the Fund such information regarding such Holder required to be included in the Registration Statement, the ownership of the Registrable Securities by such Holder (including information on the Persons having
      voting and dispositive control thereof) and the proposed distribution by such Holder of such Registrable Securities as the Fund may from time to time reasonably request in writing.&#160; Each selling Holder of the Registrable Securities as to which any
      Registration is being effected pursuant to this Agreement also agrees, as a condition to the Registration obligations with respect to such Holder provided herein, to suspend use of any Prospectus if it has received the notification contemplated by
      Section 6(e)(iv) until such time as the Fund notifies such Holder that it has complied with Section 6(i) above.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">7.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Indemnification</font>.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">7.1. <font style="font-style: italic;">Fund&#8217;s Indemnification of Holders</font>.&#160; The Fund agrees to indemnify and hold harmless each Holder and each other Holder Indemnified Person from and against
      any losses, claims, damages, liabilities or expenses incurred by them (including reasonable fees and disbursements of outside counsel) which are related to or arise out of <font style="color: rgb(0, 0, 0);">any untrue or alleged untrue statement of
        a material fact contained in a Registration Statement, any Prospectus or in any amendment or supplement thereto, or arise out of or relate to any omission or alleged omission of a material fact required to be stated therein or necessary to make the
        statements therein (in the case of any Prospectus or supplement thereto, in light of the circumstances under which they were made) not misleading, except to the extent, but only to the extent, that (i) such untrue statements or alleged untrue
        statements or omissions or alleged omissions are based upon information regarding such Holder or its Affiliates furnished in writing to the Fund by such Holder or such Holder&#8217;s counsel expressly for use therein, or to the extent that such
        information relates to such Holder or its Affiliates, or such Holder&#8217;s proposed method of distribution of Registrable Securities and was reviewed and expressly approved in writing by such Holder or such Holder&#8217;s counsel expressly for use in a
        Registration Statement, such Prospectus or in any amendment or supplement thereto; or (ii) in the case of an occurrence of an event of the type specified in Section 6(e)(iv), the use by such Holder of an outdated, defective or otherwise unavailable
        Prospectus after the Fund has notified such Holder in writing that the Prospectus is unavailable for use by such Holder and prior to the receipt by such Holder of a notice that the Fund has complied with Section 6(i) above.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">7.2. <font style="font-style: italic;">Holders&#8217; Indemnification of Fund</font>.&#160; Each Holder, severally and not jointly, agrees to indemnify and hold harmless the Fund and each other Fund
      Indemnified Person from and against any losses, claims, damages, liabilities or expenses incurred by them (including reasonable fees and disbursements of outside counsel) which are related to or arise out of <font style="color: rgb(0, 0, 0);">any
        untrue or alleged untrue statement of a material fact contained in a Registration Statement, any Prospectus or in any amendment or supplement thereto, or arise out of or relate to any omission or alleged omission of a material fact required to be
        stated therein or necessary to make the statements therein (in the case of any Prospectus or supplement thereto, in light of the circumstances under which they were made) not misleading, to the extent, but only to the extent, that (A) such untrue
        statements or alleged untrue statements or omissions or alleged omissions are based upon information regarding such Holder or its Affiliates furnished in writing to the Fund by such Holder or such Holder&#8217;s counsel expressly for use therein, or to
        the extent that such information relates to such Holder or its Affiliates or such Holder&#8217;s proposed method of distribution of Registrable Securities and was reviewed and expressly approved in writing by such Holder or such Holder&#8217;s counsel
        expressly for use in a Registration Statement, such Prospectus or in any amendment or supplement thereto or (B) in the case of an occurrence of an event of the type specified in Section 6(e)(iv), the use by such Holder of an outdated, defective or
        otherwise unavailable Prospectus after the Fund has notified such Holder in writing that the Prospectus is unavailable for use by such Holder and prior to the receipt by such Holder of a notice that the Fund has complied with Section 6(i) above.&#160;
        In no event shall the liability of any selling Holder under this Section 7.2 be greater in amount than the dollar amount of the net proceeds received by such Holder upon the sale of the Registrable Securities giving rise to such indemnification
        obligation, except in the case of fraud or willful misconduct.</font></div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">10</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: justify; text-indent: 72pt;">7.3. <font style="font-style: italic;">Indemnification Procedure</font>.&#160; If any action, suit, proceeding or investigation shall be brought or asserted against any Person entitled to indemnity
      hereunder (the &#8220;<font style="font-weight: bold;">Indemnified Party</font>&#8221;), such Indemnified Party shall notify the Person from whom indemnity is sought (the &#8220;<font style="font-weight: bold;">Indemnifying Party</font>&#8221;) in writing with reasonable
      promptness; <font style="font-style: italic;">provided</font>, <font style="font-style: italic;">however</font>, that any failure by an Indemnified Party to notify the Indemnifying Party shall not relieve the Indemnifying Party from its obligations
      hereunder (except to the extent that the Indemnifying Party is materially prejudiced by such failure to promptly notify).&#160; The Indemnifying Party shall be entitled to assume the defense of any such action, suit, proceeding or investigation, including
      the employment of counsel reasonably satisfactory to the Indemnified Party.&#160; The Indemnified Party shall have the right to separate counsel of its own choice to represent it, but the fees and expenses of such counsel shall be at the expense of such
      Indemnified Party unless (i) the Indemnifying Party has failed promptly to assume the defense and employ counsel reasonably satisfactory to the Indemnified Party in accordance with the preceding sentence; or (ii) the Indemnified Party shall have been
      advised by counsel that there exist actual or potential conflicting interests between the Indemnifying Party and such Indemnified Party, including situations in which one or more legal defenses may be available to such Indemnified Party that are
      different from or additional to those available to the Indemnifying Party; <font style="font-style: italic;">provided</font>, <font style="font-style: italic;">however</font>, that the Indemnifying Party shall not, in connection with any one such
      action or proceeding or separate but substantially similar actions or proceedings arising out of the same general allegations be liable for fees and expenses of more than one separate firm of attorneys at any time for all Indemnified Parties of the
      other party; and such counsel shall, to the extent consistent with its professional responsibilities, cooperate with the Indemnifying Party and any counsel designated by the Indemnifying Party.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 70.3pt;">The Indemnifying Party shall not be liable for any settlement of any such<font style="color: rgb(0, 0, 0);"> action, suit, investigation or proceeding effected without its written consent, which
        consent shall not be unreasonably withheld, conditioned or delayed.&#160; </font>No Indemnifying Party will, without the prior written consent of the Indemnified Party (which consent shall not be unreasonably withheld, conditioned or delayed), settle
      or compromise or consent to the entry of any judgment in any pending or threatened claim, action, suit or proceeding in respect of which indemnification may be sought by the Indemnified Party hereunder (whether or not any Indemnified Party is an
      actual or potential party to such claim, action, suit or proceeding) unless such settlement, compromise or consent includes an unconditional release of each Indemnified Party from all liability and obligations arising therefrom.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">7.4. <font style="font-style: italic;">Contribution</font>.&#160; Each Indemnifying Party also agrees that if any indemnification sought by an Indemnified Party pursuant to this Agreement is unavailable
      or insufficient, for any reason, to hold harmless the Indemnified Party in respect of any losses, claims, damages or liabilities (or actions in respect thereof), then the Indemnifying Party, in order to provide for just and equitable contribution,
      shall contribute to the amount paid or payable by such Indemnified Party as a result of such losses, claims, liabilities, damages and expenses (or actions in respect thereof) in such proportion as is appropriate to reflect the relative fault of the
      Fund on the one hand and the Holders on the other, in connection with the statements or omissions or alleged statements or omissions that resulted in such losses, claims, damages, liabilities or expenses (or actions in respect thereof), as well as
      any other relevant equitable considerations.&#160; The relative fault of the parties shall be determined by reference to, among other things, whether the actions taken or omitted to be taken in connection with the proposed transactions contemplated by
      this Agreement (including any misstatement of a material fact or the omission to state a material fact) relates to information supplied by the Fund on the one hand, or the Holder on the other, the parties&#8217; relative intent, knowledge, access to
      information and opportunity to correct or prevent such action, misstatement or alleged omission, and any other equitable considerations appropriate in the circumstances.&#160; No person found liable for a fraudulent misrepresentation shall be entitled to
      contribution from any person who is not also found liable for such fraudulent misrepresentation.&#160; <font style="color: rgb(0, 0, 0);">In no event shall the liability of any selling Holder under this Section 7.4 be greater in amount than the dollar
        amount of the net proceeds received by such Holder upon the sale of the Registrable Securities giving rise to such contribution obligation, except in the case of fraud or willful misconduct.&#160; </font>The indemnity, reimbursement and contribution
      obligations under this Agreement shall be in addition to any rights that any Indemnified Party may have at common law or otherwise.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">11</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 72pt;">7.5. <font style="font-style: italic;">No Limitations.</font>&#160; Nothing in this Section 7 is intended to limit any party&#8217;s obligations contained in other parts of this Agreement or any other
      agreements or instruments with respect to the<font style="color: rgb(0, 0, 0);">&#160;</font>VMTP Shares, provided that no amount shall be reimbursed twice in any event.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">7.6. <font style="font-style: italic;">Conflicts</font>.&#160; Notwithstanding the foregoing, to the extent that provisions on indemnification and contribution contained in the underwriting agreement
      entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">8.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Miscellaneous.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">8.1. <font style="font-style: italic;">Governing Law</font>.&#160; This Agreement shall be construed in accordance with and governed by the domestic law of the State of New York.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">THE PARTIES HERETO HEREBY SUBMIT TO THE NON-EXCLUSIVE JURISDICTION OF THE FEDERAL AND NEW YORK STATE COURTS LOCATED IN THE CITY OF NEW YORK IN CONNECTION WITH ANY DISPUTE RELATED TO THIS AGREEMENT OR
      ANY MATTERS CONTEMPLATED HEREBY.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">8.2. <font style="font-style: italic;">No Waivers.</font></div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z7214dfa64f1b4a2d85281a65d5671298" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The obligations of the Fund and each Shareholder and its Permitted Transferees hereunder shall not in any way be modified or limited by reference to any other document, instrument or agreement (including, without limitation, the VMTP
              Shares).&#160; The rights of the Shareholders hereunder are separate from and in addition to any rights that any Holder of any VMTP Share may have under the terms of such VMTP Share or otherwise.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z9226806f0df24ba184cf156fdf582f5d" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>No failure or delay by the Fund or the Shareholder in exercising any right, power or privilege hereunder or under the VMTP Shares shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or
              further exercise thereof or the exercise of any other right, power or privilege.&#160; No failure or delay by the Fund or the Shareholder in exercising any right, power or privilege hereunder or in respect of the VMTP Shares shall affect the
              rights, powers or privileges of the Fund or such Shareholder hereunder or shall operate as a limitation or waiver thereof.&#160; The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by
              law.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">12</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">8.3. <font style="font-style: italic;">Specific Performance</font>.&#160; Each Party hereby acknowledges that the remedies at law of the other Parties for a breach or threatened breach of this Agreement
      would be inadequate and, in recognition of this fact, any Party, without posting any bond, and in addition to all other remedies that may be available, shall be entitled to seek equitable relief in the form of specific performance, injunctions or any
      other equitable remedy.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">8.4. <font style="font-style: italic;">Waiver of Jury</font>.&#160; THE FUND AND THE SHAREHOLDERS HEREBY WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY EITHER OF THE PARTIES
      HERETO AGAINST THE OTHER ON ANY MATTERS WHATSOEVER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS AGREEMENT.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">8.5. <font style="font-style: italic;">Counterparts and Facsimile Execution</font>.&#160; This Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the
      signatures thereto and hereto were upon the same instrument.&#160; Any counterpart or other signature delivered by facsimile or electronic mail shall be deemed for all purposes as being a good and valid execution and delivery of this Agreement by that
      party.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">8.6. <font style="font-style: italic;">Headings and Interpretation</font>.&#160; The headings of the Sections of this Agreement are for convenience and shall not by themselves determine the
      interpretation of this Agreement.&#160; Reference to any agreement (including this Agreement), document or instrument means such agreement, document or instrument as amended or modified and in effect from time to time in accordance with the terms thereof
      and, if applicable, the terms hereof.&#160; Reference to any law means such law as amended, modified, codified, replaced or re-enacted in whole or in part, including rules, regulations, enforcement procedures and any interpretations promulgated
      thereunder.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">8.7. <font style="font-style: italic;">Notices</font>.&#160; All notices, requests and other communications to any party hereunder shall be in writing (including electronic mail or similar writing), and
      shall be given to such party at its address or email address set forth below or such other address or telecopy number or email address as such party may hereafter specify for the purpose by notice to the other parties.&#160; Each such notice, request or
      other communication shall be effective when delivered at the address specified in this Section.&#160; The notice address for each party is specified below:</div>
    <div>&#160;</div>
    <div style="text-indent: 72pt;">If to the Fund, to:</div>
    <div><br>
    </div>
    <div style="margin-left: 72pt; color: rgb(0, 0, 0);">BNY Mellon Strategic Municipal Bond Fund, Inc.</div>
    <div style="margin-left: 72pt; color: rgb(0, 0, 0);">240 Greenwich Street</div>
    <div style="margin-left: 72pt; color: rgb(0, 0, 0);">New York, New York 10286</div>
    <div style="margin-left: 72pt; color: rgb(0, 0, 0);">Attention: Deirdre Cunnane</div>
    <div style="margin-left: 72pt; color: rgb(0, 0, 0);">Telephone: 212.922.6039</div>
    <div style="margin-left: 72pt; color: rgb(0, 0, 0);">Email: Deirdre.cunnane@bnymellon.com</div>
    <div style="color: rgb(0, 0, 0);"> <br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">13</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-indent: 72pt;">If to Banc of America, to:</div>
    <div>&#160;</div>
    <div style="margin-left: 70.55pt;">Banc of America Preferred Funding Corporation</div>
    <div style="margin-left: 70.55pt;">One Bryant Park</div>
    <div style="margin-left: 70.55pt;">1111 Avenue of the Americas, 3rd Floor</div>
    <div style="margin-left: 70.55pt;">New York, NY 10036</div>
    <div>
      <div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z100eba3b2172434f80da957acac5cac3" class="DSPFListTable">

              <tr style="vertical-align: top;">
                <td style="width: 72pt;">&#160;</td>
                <td style="text-align: right; vertical-align: top; width: 72pt;">
                  <div style="text-align: left;">Attention:</div>
                </td>
                <td style="text-align: left; vertical-align: top; width: auto;">
                  <div>Thomas J. Visone</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
    </div>
    <div style="text-indent: 73.45pt; margin-left: 70.55pt;">Mary Ann Olson</div>
    <div style="text-indent: 73.45pt; margin-left: 70.55pt;">Todd Blasiak</div>
    <div style="text-indent: 73.45pt; margin-left: 70.55pt;">Michael Jentis</div>
    <div style="text-indent: 73.45pt; margin-left: 70.55pt;">Lisa Irizarry</div>
    <div style="text-indent: 73.45pt; margin-left: 70.55pt;">Carl Daniels</div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z958a529d0eb349959a891ef465475fa3" class="DSPFListTable">

          <tr style="vertical-align: top;">
            <td style="width: 72pt;">&#160;</td>
            <td style="text-align: right; vertical-align: top; width: 72pt;">
              <div style="text-align: left;">Telephone:</div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div>(212) 449-7358</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="zd336bf8d7d184615837221edcbde8ea7" class="DSPFListTable">

          <tr style="vertical-align: top;">
            <td style="width: 72pt;">&#160;</td>
            <td style="text-align: right; vertical-align: top; width: 72pt;">
              <div style="text-align: left;">Email:</div>
            </td>
            <td style="text-align: left; vertical-align: top; width: auto;">
              <div>thomas.visone@bofa.com</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-indent: 73.45pt; margin-left: 70.55pt;">mary.ann.olson@bofa.com</div>
    <div style="text-indent: 73.45pt; margin-left: 70.55pt;">todd.blasiak@bofa.com</div>
    <div style="text-indent: 73.45pt; margin-left: 70.55pt;">lisa.m.irizarry@bofa.com</div>
    <div style="text-indent: 73.45pt; margin-left: 70.55pt;">michael.jentis@bofa.com</div>
    <div style="text-indent: 73.45pt; margin-left: 70.55pt;">carl.daniels@bofa.com</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">8.8. <font style="font-style: italic;">Amendments and Waivers</font>.&#160; Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed
      by the Fund and the Holders of not less than a majority of the Registrable Securities (calculated on an as-converted basis).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">8.9. <font style="font-style: italic;">Severability</font>.&#160; In case any provision of this Agreement shall be invalid, illegal, or unenforceable, the validity, legality, and enforceability of the
      remaining provisions shall not in any way be affected or impaired thereby so long as the intent of the Parties to this Agreement is preserved.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">8.10. <font style="font-style: italic;">Entire Agreement.</font>&#160; This Agreement and the Purchase Agreement shall constitute the entire agreement and understanding between the parties hereto with
      respect to the matters set forth herein and shall supersede any and all prior agreements and understandings relating to the subject matter hereof.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">8.11. <font style="font-style: italic;">Successors and Assigns; Assignment</font>.&#160; The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their
      respective successors and assigns by merger or the operation of law.&#160; Neither the Fund nor the Shareholder may assign or otherwise transfer any of its rights or obligations under this Agreement without the prior written consent of the other party
      (other than by merger or operation of law), except that prior to the VMTP Shares being registered under the Securities Act, any transferee of VMTP Shares satisfying the requirements set forth in Section 2.1(b) of the Purchase Agreement shall have the
      rights of a Holder hereunder so long as it has executed a Transferee Letter in the form contemplated by the Purchase Agreement and otherwise agrees to be bound by the provisions of this Agreement.&#160; Any assignment without such prior written consent
      shall be void.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">14</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">8.12. <font style="font-style: italic;">Transfers to Tender Option Bond Trusts</font>.&#160; In the event that the Shareholder transfers, in accordance with Section 2.1(b) of the Purchase Agreement, VMTP
      Shares to a tender option bond trust in which the Shareholder (or an Affiliate of the Shareholder) retains a residual interest, for purposes of the rights granted to Holders under this Agreement, the Shareholder, and not such tender option bond
      trust, shall be deemed to be the actual owner of such VMTP Shares. The deemed ownership provided for in this Section 8.12 shall last until the earliest of the termination of such tender option bond trust; the agreement by the Fund and the Shareholder
      to terminate such deemed ownership; and the good-faith determination by such purchaser that such deemed ownership has adverse tax, legal or other regulatory consequences or is otherwise no longer consistent with applicable law.</div>
    <div><br>
    </div>
    <div style="text-indent: 72pt;">8.13. <font style="font-style: italic;">Effectiveness of this Agreement.&#160; </font>This Agreement shall be effective as of the Effective Date and the rights and obligations of the Parties contained herein in each case
      shall be binding as of the Effective Date.</div>
    <div>&#160;</div>
    <div style="text-align: center;">[<font style="font-style: italic;">Signatures follow on the next page.</font>]</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">15</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">IN WITNESS WHEREOF, the parties to this Agreement have executed this Agreement on the date first written above.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" id="z3b81e717a4e342718c5799ff4deacb1d" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="font-weight: bold;">THE FUND:</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div>BNY MELLON STRATEGIC MUNICIPAL BOND FUND, INC.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div>By:&#160; <u>/s/ David DiPetrillo</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div>Name: David DiPetrillo</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div>Title:&#160;&#160; President</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="font-weight: bold;">THE SHAREHOLDERS:</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div>BANC OF AMERICA PREFERRED FUNDING CORPORATION</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div>By:&#160; <u>/s/ Michael Jentis</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div>Name: Michael Jentis</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div>Title:&#160;&#160; Managing Director</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: center;">[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT FOR BNY MELLON STRATEGIC MUNICIPAL BOND FUND, INC.]</div>
    <div>&#160;</div>
    <div> <br>
    </div>
    <div>
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