<SEC-DOCUMENT>0001193125-12-248608.txt : 20120525
<SEC-HEADER>0001193125-12-248608.hdr.sgml : 20120525
<ACCEPTANCE-DATETIME>20120525122259
ACCESSION NUMBER:		0001193125-12-248608
CONFORMED SUBMISSION TYPE:	SC 13D
PUBLIC DOCUMENT COUNT:		8
FILED AS OF DATE:		20120525
DATE AS OF CHANGE:		20120525
GROUP MEMBERS:		RBC MUNICIPAL PRODUCTS, INC.

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Invesco Van Kampen Pennsylvania Value Municipal Income Trust
		CENTRAL INDEX KEY:			0000895528
		IRS NUMBER:				367017427
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		SC 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-84427
		FILM NUMBER:		12870120

	BUSINESS ADDRESS:	
		STREET 1:		1555 PEACHTREE STREET, N.E.
		STREET 2:		SUITE 1800
		CITY:			ATLANTA
		STATE:			2Q
		ZIP:			30309
		BUSINESS PHONE:		404-439-3217

	MAIL ADDRESS:	
		STREET 1:		1555 PEACHTREE STREET, N.E.
		STREET 2:		SUITE 1800
		CITY:			ATLANTA
		STATE:			2Q
		ZIP:			30309

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VAN KAMPEN PENNSYLVANIA VALUE MUNICIPAL INCOME TRUST
		DATE OF NAME CHANGE:	19981006

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VAN KAMPEN AMERICAN CAPITAL PENNSYLVANIA VALUE MUNIC INCO TR
		DATE OF NAME CHANGE:	19971007

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VAN KAMPEN MERRITT PENNSYLVANIA VALUE MUNICIPAL INCOME TRUST
		DATE OF NAME CHANGE:	19930328

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ROYAL BANK OF CANADA
		CENTRAL INDEX KEY:			0001000275
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		SC 13D

	BUSINESS ADDRESS:	
		STREET 1:		ROYAL BANK PLAZA
		STREET 2:		200 BAY STREET
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5J2J5
		BUSINESS PHONE:		2128587116

	MAIL ADDRESS:	
		STREET 1:		ROYAL BANK PLAZA
		STREET 2:		200 BAY STREET
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5J2J5

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ROYAL BANK OF CANADA \
		DATE OF NAME CHANGE:	19950908
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D
<SEQUENCE>1
<FILENAME>d358731dsc13d.htm
<DESCRIPTION>SC 13D
<TEXT>
<HTML><HEAD>
<TITLE>SC 13D</TITLE>
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 <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>UNITED STATES </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>Washington, D.C. 20549 </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>SCHEDULE 13D
</B></FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>Under the Securities Exchange Act of 1934 </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>Invesco Van Kampen Pennsylvania Value Municipal Income Trust</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(Name of Issuer) </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Variable Rate Muni Term Preferred Shares</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Title of Class of Securities) </B></FONT></P>
<P STYLE="font-size:24px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>46132K604</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(CUSIP Number) </B></FONT></P> <P STYLE="font-size:24px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>RBC Municipal Products, Inc.</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>c/o John Penn, Esq.</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>3 World Financial Center</B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>200 Vesey Street</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>New York, NY 10281</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>212-858-7116</B></FONT></P></TD></TR>
</TABLE> <P STYLE="font-size:24px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>May 15, 2012</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Date of Event which Requires Filing of this Statement) </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of &#167;&#167;240.13d-1(e),
240.13d-1(f) or 240.13d-1(g), check the following box:&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>

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<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">CUSIP&nbsp;No. 46132K604</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;1.&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px">
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Names of Reporting Persons.</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada</FONT></P></TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;2.</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Check the Appropriate Box if a
Member of a Group (See Instructions)</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a)&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;<FONT
STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:1px"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;3.</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">SEC Use Only</FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:1px">&nbsp;</P></TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;4.</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Source of Funds (See
Instructions)</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">WC</FONT></P></TD></TR>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;5.</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Check if Disclosure of Legal
Proceedings Is Required Pursuant to Items 2(d) or 2(e)</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT
STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></P></TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;6.</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Citizenship or Place of
Organization</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canada</FONT></P></TD></TR>
<TR>
<TD VALIGN="middle" COLSPAN="3" ROWSPAN="4" ALIGN="center" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Number&nbsp;of</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Shares</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Beneficially</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Owned&nbsp;by</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Each</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Reporting</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Person</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">With</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;7.&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Sole Voting Power</FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:1px">&nbsp;</P></TD></TR>
<TR>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;8.</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Shared Voting Power</FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,301</FONT></P></TD></TR>
<TR>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;9.</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Sole Dispositive Power</FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:1px">&nbsp;</P></TD></TR>
<TR>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">10.</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Shared Dispositive Power</FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,301</FONT></P></TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">11.</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Aggregate Amount Beneficially
Owned by Each Reporting Person</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,301</FONT></P></TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">12.</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Check if the Aggregate Amount in
Row (11) Excludes Certain Shares (See Instructions)&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:1px">&nbsp;</P></TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">13.</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Percent of Class Represented by
Amount in Row (11)</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">100%</FONT></P></TD></TR>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">14.</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Type of Reporting Person (See
Instructions)</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">BK</FONT></P></TD></TR>
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<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">CUSIP&nbsp;No. 46132K604</FONT></TD>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;1.&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px">
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Names of Reporting Persons.</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Products, Inc.</FONT></P></TD></TR>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;2.</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Check the Appropriate Box if a
Member of a Group (See Instructions)</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a)&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;<FONT
STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:1px"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;3.</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">SEC Use Only</FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:1px">&nbsp;</P></TD></TR>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;4.</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Source of Funds (See
Instructions)</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">WC</FONT></P></TD></TR>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;5.</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Check if Disclosure of Legal
Proceedings Is Required Pursuant to Items 2(d) or 2(e)</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:1px">&nbsp;</P></TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;6.</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Citizenship or Place of
Organization</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Delaware</FONT></P></TD></TR>
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<TD VALIGN="middle" COLSPAN="3" ROWSPAN="4" ALIGN="center" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Number&nbsp;of</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Shares</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Beneficially</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Owned&nbsp;by</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Each</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Reporting</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Person</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">With</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;7.&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Sole Voting Power</FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:1px">&nbsp;</P></TD></TR>
<TR>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;8.</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Shared Voting Power</FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,301</FONT></P></TD></TR>
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<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;9.</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Sole Dispositive Power</FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,301</FONT></P></TD></TR>
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<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">10.</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Shared Dispositive Power</FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:1px">&nbsp;</P></TD></TR>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">11.</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Aggregate Amount Beneficially
Owned by Each Reporting Person</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,301</FONT></P></TD></TR>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">12.</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Check if the Aggregate Amount in
Row (11) Excludes Certain Shares (See Instructions)&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:1px">&nbsp;</P></TD></TR>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">13.</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Percent of Class Represented by
Amount in Row (11)</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">100%</FONT></P></TD></TR>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">14.</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Type of Reporting Person (See
Instructions)</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">CO</FONT></P></TD></TR>
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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Item&nbsp;1. Security and Issuer </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">This statement on Schedule 13D (this &#147;<B>Statement</B>&#148;) relates to the variable rate muni term preferred shares (<B>&#147;VMTP&#148;) </B>of Invesco Van Kampen Pennsylvania Value Municipal
Income Trust (the &#147;<B>Issuer</B>&#148;). The principal executive office of the Issuer is located at 1555 Peachtree Street, N.E., Atlanta, Georgia 30309. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Item&nbsp;2. Identity and Background </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">This Statement is being filed on behalf of each of
the following persons (collectively, the &#147;<B>Reporting Persons</B>&#148;): </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">i. Royal Bank of Canada (&#147;<B>RBC</B>&#148;) </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">ii. RBC Municipal Products, Inc. (&#147;<B>MPI</B>&#148;), which is an indirectly wholly owned subsidiary of RBC. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">This Statement relates to the VMTP held for the account of MPI. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">RBC has its principal places of business and principal offices at One Place Ville Marie, Montreal, Quebec, Canada HC3 3A9 and 200 Bay Street, Toronto, Ontario, Canada M5J 2J5. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The address of the principal business office of MPI is 3 World Financial Center, 200 Vesey Street, New York, New York 10281. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC and its subsidiaries, including MPI, provide diversified global financial services and products, including personal and commercial banking, wealth
management services, corporate and investment banking, property, casualty and life insurance, and transaction processing services to clients worldwide. The principal business of MPI is the provision of financial administrative services, including
the administration of tender option bond programs. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Information concerning each executive officer, director and controlling person (the
&#147;<B>Listed Persons</B>&#148;) of the Reporting Persons is listed on Schedule I attached hereto, and is incorporated by reference herein. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">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. </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Item&nbsp;3. Source and Amount of Funds or Other Consideration </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The aggregate amount of funds used by the Reporting Persons to purchase the securities reported herein was $130,100,000. The source of funds was the
working capital of the Reporting Persons. The entire purchase was sold on May&nbsp;15, 2012 into a tender option bond financing trust (a &#147;TOB&#148;) named RBC Municipal Products, Inc. Trust, Series E-34 relating to $130,100,000 Invesco Van
Kamepen Pennsylvania Value Municipal Income Fund Trust, Series 2015/6-VPV. The TOB has title to 100% of the VMTP but does not have the power to dispose or direct the disposition of the VMTP, which power is retained by MPI. No voting rights on the
VMTP have been transferred to the TOB and voting rights on the VMTP are retained by MPI and the Voting Trust as described in Item&nbsp;6. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">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&nbsp;13(d) of the Exchange Act or any other purpose, (i)&nbsp;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)&nbsp;a member of any group with respect to the Company or any securities of the Company. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Item&nbsp;4. Purpose of Transaction </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">MPI
has purchased the VMTP for investment purposes. The VMPT were acquired by MPI from RBC Capital Markets, LLC, a registered broker dealer and affiliate of MPI (<B>&#147;RBCCM&#148;</B>). RBCCM acquired the VMTP directly from the Issuer pursuant to a
Purchase Agreement, dated May&nbsp;10, 2012, between the Issuer and RBCCM (the &#147;<B>Purchase Agreement&#148;</B>) on their initial issuance for a purchase price of $130,100,000 and distributed them to MPI on May&nbsp;15, 2012 for a purchase
price of $130,100,000. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">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. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Item&nbsp;5. Interest in Securities of the Issuer </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(a) &#150; (b)&nbsp;The responses of the Reporting Persons to Rows (7)&nbsp;through (11)&nbsp;of the cover pages of this Statement are incorporated herein by reference. </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">The responses of the Reporting Persons in Item&nbsp;3 and Item&nbsp;4 are incorporated herein by reference. </FONT></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) The TOB has the right to receive dividends from, or the proceeds from the sale of, the VMTP. MPI retains the power to dispose of or direct the
disposition of the VMTP while in the TOB. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) Not applicable. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Item&nbsp;6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The responses of the Reporting Persons to Item&nbsp;3 and Item&nbsp;4 are incorporated herein by reference. With respect to the VMTP owned by MPI, on May&nbsp;10, 2012 RBCCM assigned certain preferred
class voting rights on the VMTP to a voting trust (the &#147;<B>Voting Trust</B>&#148;) created pursuant to the Voting Trust Agreement, dated May&nbsp;10, 2012 among RBCCM, Lord Securities Corporation, as voting trustee (the &#147;<B>Voting
Trustee</B>&#148;) and Institutional Shareholder Services Inc. (the &#147;<B>Voting Consultant</B>&#148;). Voting and consent rights on the VMTP not assigned to the Voting Trust have been retained by MPI. 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. The Voting Trustee is
obligated to follow any such recommendations of the Voting Consultant when providing a vote or consent. RBCCM has the right to cause the Issuer to register the VMTP pursuant to a Registration Rights Agreement, dated May&nbsp;10, 2012, between the
Issuer and RBCCM. </FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Item&nbsp;7. Material to be Filed as Exhibits </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:25pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Exhibit</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="border-bottom:1px solid #000000;width:75pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Description of Exhibit</B></FONT></P></TD></TR>


<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">99.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Joint Filing Agreement</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">99.2</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Voting Trust Agreement</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">99.3</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Registration Rights Agreement</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">99.4</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Purchase Agreement</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">99.5</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Series Trust Agreement</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">99.6</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Master Terms of Trust Agreement</FONT></TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SIGNATURE </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">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. </FONT></P>
<P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="46%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="45%"></TD></TR>


<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date: May&nbsp;24, 2012</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">ROYAL BANK OF CANADA</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Thomas Smee</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Thomas Smee</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Senior Vice President</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Peggy Dowdall-Logie</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Peggy Dowdall-Logie</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Senior Vice President</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC MUNICIPAL PRODUCTS, INC.</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Andrew B. Sanford</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Andrew B. Sanford</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">President</FONT></TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SCHEDULE I </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>EXECUTIVE OFFICERS AND DIRECTORS OF </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>REPORTING PERSONS </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The following sets forth the name, Citizenship and present principal occupation of each executive officer and director of Royal Bank of Canada. Unless
otherwise indicated, the business address of each such person is c/o Royal Bank at 200 Bay Street, Toronto, Ontario, Canada M5J 2J5. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Executive Officers </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="25%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="27%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="11%"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:20pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Name</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Address</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Principal Occupation</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Citizenship</B></FONT></P></TD></TR>


<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Friis, Morten Nicolai</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Bay
Street, South Tower</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Toronto, Ontario M5J 2J5</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chief Risk Officer</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Norwegian</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Fukakusa, Janice Rose</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Bay
Street, South Tower</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Toronto, Ontario M5J 2J5</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chief Administrative Officer and Chief Financial Officer</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Hirji, Zabeen</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Bay
Street, South Tower</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Toronto, Ontario M5J 2J5</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chief Human Resources Officer</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Lewis, Melville George</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Bay
Street, South Tower</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Toronto, Ontario M5J 2J5</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Group Head, Wealth Management</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">McGregor, Alex Douglas</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Bay
Street, South Tower</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Toronto, Ontario M5J 2J5</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chairman, Co-Chief Executive Officer and Co-Group Head, Capital Markets</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">McKay, David Ian</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Bay
Street, South Tower</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Toronto, Ontario M5J 2J5</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Group Head, Canadian Banking</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Nixon, C.M., O.Ont., Gordon Melbourne</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Bay
Street, South Tower</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Toronto, Ontario M5J 2J5</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">President&nbsp;and&nbsp;Chief&nbsp;Executive&nbsp;Officer</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Standish, Mark Allan</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Capital Markets</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">3
World Financial Center</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Vesey Street</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">New&nbsp;York,&nbsp;New&nbsp;York&nbsp;10281-8098</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">President, Co-Chief Executive Officer and Co-Group Head, Capital Markets</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">American</FONT></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Westlake, William James</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Bay
Street, South Tower</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Toronto, Ontario M5J 2J5</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Group Head, International Banking and Insurance</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Directors </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="border-bottom:1px solid #000000;width:20pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Name</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Address</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Principal Occupation</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Citizenship</B></FONT></P></TD></TR>


<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">William Geoffrey Beattie</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Woodbridge Company Limited</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">65 Queen Street West, Suite 2400</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Toronto,
Ontario M5H 2M8</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canada</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">President&nbsp;and&nbsp;Chief&nbsp;Executive&nbsp;Officer</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Woodbridge Company Limited</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Deputy Chairman</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Thomson Reuters Corporation</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Hon. Paule Gauthier, P.C., O.C., O.Q., Q.C.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Stein Monast L.L.P.</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">70
Dalhousie Street, Suite 300</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Qu&eacute;bec, Qu&eacute;bec G1K 4B2</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Canada</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Senior Partner</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Stein Monast
L.L.P.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Richard Lee George, O.C.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Suncor Energy Inc.</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">150 &#150;
6</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Avenue S.W.</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Calgary, Alberta T2P 3E3</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canada</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Corporate Director</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian and American</FONT></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Timothy James Hearn</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Hearn &amp; Associates</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">#3840
Bankers Hall East</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">855 &#150; 2</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">nd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Street S.W.</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Calgary, Alberta T2P 4J8</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canada</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chairman</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Hearn &amp;
Associates</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Alice Delores Laberge</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Bay
Street, South Tower</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Toronto, Ontario M5J 2J5</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Canada</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Corporate Director</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Jacques Lamarre, O.C.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Heenan Blaikie LLP</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">1250
Ren&eacute;-L&eacute;vesque Boulevard West</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Suite 2500</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Montr&eacute;al, Qu&eacute;bec H3B 4Y1</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canada</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Strategic Advisor</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Heenan
Blaikie LLP</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Brandt Channing Louie, O.B.C., F.C.A.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">H.Y. Louie Co. Limited</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">2821
Production Way</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Burnaby,&nbsp;British&nbsp;Columbia&nbsp;V5A&nbsp;3G7</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Canada</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">President, Chairman and Chief Executive Officer H.Y. Louie Co. Limited</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Chairman</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">London Drugs Limited</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Michael Harrison McCain</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Maple Leaf Foods Inc.</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">30 St.
Clair Avenue West, 15</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Floor</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Toronto, Ontario M4V 3A2</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canada</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">President and Chief Executive Officer</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Maple Leaf Foods Inc.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Heather Anne Munroe-Blum, O.C., O.Q., Ph.D., FRSC</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">McGill University</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">James&nbsp;Administration&nbsp;Building,&nbsp;Room&nbsp;506</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">845 Sherbrooke Street West</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Montr&eacute;al, Qu&eacute;bec H3A 2T5</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canada</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Principal, Vice-Chancellor and Professor of Medicine</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">McGill University</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Gordon Melbourne Nixon, C.M., O.Ont.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Bay
Street, South Tower</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Toronto, Ontario M5J 2J5</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Canada</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">President and Chief Executive Officer</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">David Peter O&#146;Brien, O.C.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Bay
Street, South Tower</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Toronto, Ontario M5J 2J5</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Canada</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chairman</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of
Canada</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chairman</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">EnCana
Corporation</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Joao Pedro Reinhard</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Reinhard &amp; Associates</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">801
Brickel Avenue, Suite 900</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Miami, Florida, 33131</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">U.S.A.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">President</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Reinhard &amp;
Associates</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Brazilian</FONT></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Edward Sonshine, O.Ont., Q.C.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">RioCan Real Estate Investment Trust</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">RioCan Yonge Eglinton Centre</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">2300 Yonge Street, Suite 500</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Toronto, Ontario M4P 1E4</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canada</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chief Executive Officer</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">RioCan
Real Estate Investment Trust</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Kathleen Patricia Taylor</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Four&nbsp;Seasons&nbsp;Hotels&nbsp;and&nbsp;Resorts</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">1165 Leslie Street</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Toronto, Ontario M3C 2K8</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canada</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">President and Chief Executive Officer</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Four Seasons Hotels and Resorts</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="27%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="23%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="22%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="21%"></TD></TR>


<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Bridget Anne van Kralingen</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">IBM Corporation</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">11 Madison
Avenue</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">New&nbsp;York,&nbsp;New&nbsp;York&nbsp;10010</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">U.S.A.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Senior Vice-President</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">IBM&nbsp;Global&nbsp;Business&nbsp;Services</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">IBM
Corporation</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">American and British</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Victor Leyland Young, O.C.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Bay
Street, South Tower</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Toronto, Ontario M5J 2J5</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Canada</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Corporate Director</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
</TABLE> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The following sets forth the name and present principal occupation of each executive officer and director of
RBC Municipal Products, Inc. Unless otherwise indicated, the business address of each such person is c/o RBC Municipal Products, Inc., 3 World Financial Center, 200 Vesey Street, New York, New York 10281, and each such person is a citizen of the
United States. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Products, Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Executive Officers </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="27%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="23%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="22%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="21%"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Name</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Address</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Principal Occupation</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Citizenship</B></FONT></P></TD></TR>


<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Decicco, Steven, MPI Treasurer</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 World Financial Center</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200
Vesey Street</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, New York 10281</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chief Financial Officer</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC
Capital Markets, LLC</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">American</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">McCandless, Jennifer, MPI Chief Operating Officer</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 World Financial Center</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200
Vesey Street</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, New York 10281</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vice President,</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Manager for
Trade Support of Municipal Products</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Capital Markets, LLC</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">American</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Sanford, Andrew, MPI President</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 World Financial Center</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200
Vesey Street</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, New York 10281</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Managing Director, Tender Option&nbsp;Bond&nbsp;Portfolio&nbsp;Manager</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">RBC Capital Markets, LLC</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">American</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Products, Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Directors </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="27%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="23%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="22%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="21%"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Name</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Address</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Principal Occupation</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Citizenship</B></FONT></P></TD></TR>


<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Hamel, Chris</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 World Financial Center</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200
Vesey Street</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, New York 10281</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Managing Director, Head of Municipal Finance</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">RBC Capital Markets, LLC</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">American</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Maroney, Mark</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 World Financial Center</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200
Vesey Street</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, New York 10281</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Managing Director, Head of US Rates, Mortgages &amp; Municipals RBC Capital Markets, LLC</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">American</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Degagne, Renee</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 World Financial Center</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200
Vesey Street</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, New York 10281</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Managing Director Global Trading Client Manager</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Canadian</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">LePage, Dan</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 World Financial Center</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200
Vesey Street</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, New York 10281</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Managing Director, Head of U.S. Real Estate Corporate Banking</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">RBC Capital Markets, LLC</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">American</FONT></TD></TR>
</TABLE>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d358731dex991.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>EXHIBIT 99.1 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">JOINT FILING AGREEMENT </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pursuant to and in accordance with the Securities
Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), 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&nbsp;13 or
Section&nbsp;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. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">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. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date: May&nbsp;24, 2012</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC MUNICIPAL PRODUCTS, INC.</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Andrew B. Sanford</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name: Andrew B. Sanford</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title: President</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em;"><FONT STYLE="font-family:Times New Roman" SIZE="2">ROYAL BANK OF CANADA</FONT></P></TD></TR>
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<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
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<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Thomas Smee</FONT></TD></TR>
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<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name: Thomas Smee</FONT></TD></TR>
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<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title: Senior Vice President</FONT></TD></TR>
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<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
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<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Peggy Dowdall-Logie</FONT></TD></TR>
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<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name: Peggy Dowdall-Logie</FONT></TD></TR>
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<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title: Senior Vice President</FONT></TD></TR>
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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>d358731dex992.htm
<DESCRIPTION>EX-99.2
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>EXHIBIT 99.2 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>VOTING TRUST AGREEMENT </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>THIS VOTING TRUST AGREEMENT</B> (this
&#147;<B>Agreement</B>&#148;) is made and entered into effective for all purposes and in all respects as of May&nbsp;10, 2012 by and among Lord Securities Corporation, as trustee (the &#147;<B>Trustee</B>&#148; or any successor thereto), RBC Capital
Markets, LLC, a Minnesota limited liability company, including its successors and assigns by operation of law (&#147;<B>RBC</B>&#148; or the &#147;<B>Purchaser</B>&#148;) and Institutional Shareholder Services Inc. (the &#147;<B>Voting
Consultant</B>&#148; or any successor thereto). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>WHEREAS</B>, the Purchaser is the legal and Beneficial Owner of 1,301
shares of Variable Rate Muni Term Preferred Shares (&#147;<B>VMTP Shares</B>&#148;) of Invesco Van Kampen Pennsylvania Value Municipal Income Trust (the &#147;<B>Fund</B>&#148;) pursuant to the terms of the purchase agreement, dated as of
May&nbsp;10, 2012, by and between the Purchaser and the Fund (the &#147;<B>Purchase Agreement</B>&#148;); </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>WHEREAS</B>, 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&nbsp;1 below, as a Beneficial Owner of (i)&nbsp;VMTP Shares acquired by the Purchaser pursuant to the Purchase Agreement (such VMTP Shares, when owned by the Purchaser, the &#147;<B>Subject Shares</B>&#148;)
and (ii)&nbsp;any additional shares of VMTP Shares or capital stock of any class or series of the Fund having voting powers of which an Affiliate of RBC is the Beneficial Owner or that the Purchaser becomes the Beneficial Owner of during the term of
this Agreement (any such additional shares of capital stock of the Fund having voting powers being &#147;<B>Additional Shares</B>&#148; and when so acquired will become a part of the &#147;<B>Subject Shares</B>&#148; covered by this Agreement);
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>WHEREAS</B>, 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; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>WHEREAS</B>, the Voting Consultant and the Trustee are Independent of the Purchaser; and </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>WHEREAS</B>, the parties hereto desire to set forth in writing their understandings and agreements. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>NOW, THEREFORE</B>, 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: </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>1. Creation of Trust </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">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 &#147;<B>Voting Matters</B>&#148;): </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) the election of the
two members of the Board of Trustees for which holders of VMTP Shares are exclusively entitled to vote under Section&nbsp;18(a)(2)(C) of the Investment Company Act of 1940, as amended (the &#147;<B>1940 Act</B>&#148;) and all other rights given to
holders of VMTP Shares with respect to the election of the Board of Trustees of the Fund; </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) the conversion of the Fund from a closed-end management investment company to an
open-end fund, or to change the Fund&#146;s classification from diversified to non-diversified, each pursuant to Section&nbsp;13(a)(1) of the 1940 Act (any of the foregoing, a &#147;<B>Conversion</B>&#148;), together with any additional voting or
consent right under the Certificate of Designation that relates solely to any action or amendment to the Certificate of Designation 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; <I>provided</I> 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; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) the deviation from a policy in respect of concentration of investments in
any particular industry or group of industries as recited in the Fund&#146;s registration statement, pursuant to Section&nbsp;13(a)(3) of the 1940 Act (a &#147;<B>Deviation</B>&#148;), together with any additional voting or consent right under the
Certificate of Designation that relates solely to any action or amendment to the Certificate of Designation 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; <I>provided</I> 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; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) 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 Fund&#146;s registration statement, pursuant to Section&nbsp;13(a)(2) of the 1940 Act (and of the
foregoing, a &#147;<B>Policy Change</B>&#148;), together with any additional voting or consent right under the Certificate of Designation that relates solely to any action or amendment to the Certificate of Designation 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; <I>provided</I> 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. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">In order to effect the transfer of voting and consent rights with respect to the Voting Matters, RBC 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 the Voting Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">RBC will retain all other voting rights under the Related Documents and RBC, its Affiliates or designee will also be the registered owner of the VMTP Shares. If any dividend or other distribution in
respect of the Subject Shares is paid, such dividend or distribution will be paid directly to RBC or its Affiliate or designee owning such Subject Shares; <I>provided</I>, that, any Additional Shares will become part of the Subject Shares covered by
this Agreement. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>2. Definitions </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Affiliate</B>&#148; means, with respect to a Person, (i)&nbsp;any other Person who, directly or indirectly, is in control of, or controlled by, or is under common control with, such Person or
(ii)&nbsp;any other Person who is a director, officer, employee or general partner (a)&nbsp;of such Person, (b)&nbsp;of any majority-owned subsidiary or parent company of such Person or (c)&nbsp;of any Person described in clause (i)&nbsp;above. For
the purposes of this definition, &#147;control&#148; of a Person shall mean the power, direct or indirect, (x)&nbsp;to vote more than 25% of the securities having ordinary voting power for the election of directors of such Person or (y)&nbsp;to
direct or cause the direction of the management and policies of such Person whether by contract or otherwise. For the purposes of this Agreement, the term &#147;Affiliate&#148; shall include a tender option bond trust of which the Purchaser and/or
one or more of its Affiliates collectively owns a majority of the residual interests. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Beneficial Owner</B>&#148;
means, any Person who, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise has or shares (i)&nbsp;voting power which includes the power to vote, or to direct the voting of, securities and/or
(ii)&nbsp;investment power which includes the power to dispose, or to direct the disposition of, securities. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Board of Trustees</B>&#148; means the Board of Trustees of the Fund or any duly
authorized committee thereof. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Certificate of Designation</B>&#148; means the Fund&#146;s Certificate of Designation
Establishing and Fixing the Rights and Preferences of the Variable Rate Muni Term Preferred Shares, as amended from time to time in accordance with the provisions thereof. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Excluded Transfer</B>&#148; means any transfer of VMTP Shares (1)&nbsp;to a tender option bond trust in which the Purchaser and/or its Affiliates collectively own all of the residual interests,
(2)&nbsp;in connection with a distribution in-kind to the holders of securities of or receipts representing an ownership interest in any tender option bond trust in which the Purchaser and/or its Affiliates collectively own all of the residual
interests, (3)&nbsp;in connection with a repurchase financing transaction or (4)&nbsp;relating to a collateral pledge arrangement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Independent</B>&#148; means, as to any Person, any other Person who (i)&nbsp;does not have and is not committed to acquire any material direct or any material indirect financial interest in such
Person, (ii)&nbsp;is not connected with such Person as an officer, employee, promoter, underwriter, partner, director or Person performing similar functions and (iii)&nbsp;is not otherwise subject to the undue influence or control of such other
Person. 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. With respect to item (i)&nbsp;above, &#147;material direct or material indirect financial interest&#148; means, (1)&nbsp;as to any Person, owning directly or indirectly (as principal for such Person&#146;s own account) at least 5% of any
class of the outstanding equity or debt securities issued by any other Person or (2)&nbsp;with respect to a Person (the &#147;<B>Investor</B>&#148;) owning directly or indirectly (as principal for the Investor&#146;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). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Person</B>&#148; 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. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Each capitalized term used herein and
not otherwise defined herein shall have the meaning provided therefor (including by incorporation by reference) in the Certificate of Designation. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>3. Right to Transfer </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">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&nbsp;2.02 of the Purchase Agreement. 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; provided, however, in connection with an Excluded
Transfer: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) of the type specified in clause (1)&nbsp;of the definition of Excluded Transfer, the Subject Shares shall
remain subject to this Agreement until such time as the Fund, upon the request of the Purchaser, enters into a voting arrangement satisfying Section&nbsp;12(d)(1)(E)(iii) of the 1940 Act; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) of the type specified in clauses (3)&nbsp;or (4)&nbsp;of the definition of Excluded Transfer, to the extent the Purchaser 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 the Purchaser under such repurchase transaction or collateral pledge arrangement;
and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) of the type specified in clauses (3)&nbsp;or (4)&nbsp;of the definition of Excluded Transfer, to the extent the
Purchaser 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&#146; 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 the Purchaser under such repurchase transaction or collateral pledge arrangement. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>4. Trustee </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>(a) Rights And Powers Of Trustee. </B>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. The Trustee shall be obligated to vote any Voting Matter in accordance with the provisions of this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>(b) Liability Of Trustee. </B>In exercising the rights and powers of the Trustee, the Trustee will exercise any rights and powers in the Trustee&#146;s best judgment; <I>provided</I>, <I>however</I>,
the Trustee shall not be liable for any action taken by such Trustee or the Trustee&#146;s agent, except for liability arising from the Trustee&#146;s bad faith, wilful misconduct or gross negligence. The Trustee shall not be required to give any
bond or other security for the discharge of the Trustee&#146;s duties. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(c) Resignation of and Successor Trustee. </B>The
Trustee may at any time resign the Trustee&#146;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. 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
&#147;Trustee&#148; hereunder. No such resignation shall become effective until such time as a successor Trustee has been appointed and such appointment has been accepted. The fact that any Trustee has resigned such Trustee&#146;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. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>(d) Removal. </B>The Trustee may be removed by the Purchaser upon 30 days prior written notice upon either (i)&nbsp;a material breach by the Trustee of its obligations hereunder or (ii)&nbsp;any action
or inaction of the Trustee which constitutes bad faith, negligence or wilful misconduct in the performance of its obligations hereunder. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>(e) Independent.</B> The Trustee represents that it is Independent of RBC. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>5. Voting Consultant </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>(a) Liability Of Voting Consultant. </B>In providing its voting recommendations on Voting Matters hereunder, the Voting Consultant will provide such recommendations in the Voting Consultant&#146;s best
judgment with respect to the Voting Matters for the VMTP Shares; <I>provided</I>, <I>however</I>, the Voting Consultant shall not be liable for any action taken by such Voting Consultant or the Voting Consultant&#146;s agent, except for liability
arising from the Voting Consultant&#146;s bad faith, wilful misconduct or gross negligence. For the avoidance of doubt, the Voting Consultant&#146;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 in any one year period for any and all claims made within that one year period; <I>provided </I>that if a breach of Section&nbsp;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&#146;s sole discretion and no monetary damages shall be due or payable. 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. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(b) Resignation of and Successor Voting Consultant. </B>The Voting Consultant may at any
time resign the Voting Consultant&#146;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. Upon receipt of the Voting
Consultant&#146;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. If the Voting
Consultant shall resign but a successor Voting Consultant has not assumed all of the Voting Consultant&#146;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. No such resignation shall become effective until such time as a successor Voting Consultant has been appointed and such appointment has been accepted. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(c) Removal. </B>The Voting Consultant may be removed by the Purchaser upon 30 days prior written notice upon either (i)&nbsp;a
material breach by the Voting Consultant of its obligations hereunder or (ii)&nbsp;any action or inaction of the Voting Consultant which constitutes bad faith, gross negligence or wilful misconduct in the performance of its obligations hereunder.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(d) Contract. </B>A separate contract, that certain Master Services Agreement No. (109730)&nbsp;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 &#147;<B>Master Agreement</B>&#148;), sets forth additional details, including fees, pursuant to which the Voting Consultant
is providing the services contemplated hereunder. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(e) Independent.</B> The Voting Consultant represents that it is
Independent of RBC; <I>provided</I>, <I>however</I>, 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. 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. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>6. Amount of Subject Shares Notification </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">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. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>7. Voting Communications </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Purchaser shall notify the Trustee and the Voting Consultant as soon as possible, and in any event, not later than two 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.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">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. 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. 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. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>8. Indemnification </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(a) Of the Trustee and the Voting Consultant.</B> The Purchaser shall indemnify and hold the Trustee and the Voting Consultant and such
Trustee&#146;s and such Voting Consultant&#146;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)&nbsp;with respect to the Trustee, the administration of the voting trust created by this Agreement or (ii)&nbsp;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. In no event shall the Purchaser be liable
for special, incidental, indirect or consequential damages. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(b) Of the Purchaser and the Voting Consultant.</B> The
Trustee shall indemnify and hold the Purchaser and the Voting Consultant and the Purchaser&#146;s and the Voting Consultant&#146;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)&nbsp;with respect to the Purchaser, the administration
of the voting trust created by this Agreement or (ii)&nbsp;with respect to the Purchaser and the Voting Consultant, the exercise of any powers or the performance of any duties by the Purchaser 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 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. In no event shall the Trustee be liable for special, incidental, indirect or consequential damages. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>(c) Of the Purchaser and the Trustee.</B> The Voting Consultant shall indemnify and hold the Purchaser and the Trustee and the Purchaser&#146;s and the Trustee&#146;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; <I>provided</I>, <I>however</I>, that the Voting Consultant&#146;s maximum liability under this Section&nbsp;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. In no event shall the Voting Consultant be liable for special, incidental, indirect or consequential
damages. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(d) Conditions to Indemnification.</B> 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. No settlement shall bind any party without such party&#146;s written consent. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>9. Termination of Agreement </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>(a) </B>This Agreement and the voting trust created hereby shall terminate with respect to all of the Subject Shares (i)&nbsp;at the option of RBC, upon the non-payment of dividends on the VMTP Shares
for two years, (ii)&nbsp;at the option of RBC, upon RBC and its Affiliates owning less than 20% of the Outstanding VMTP Shares or (iii)&nbsp;as provided with respect to certain transfers of Subject Shares in Section&nbsp;3 above. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(b) </B>Upon the termination of this Agreement with respect to the Subject Shares, the voting trust created pursuant to Section&nbsp;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. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">6 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>10. Trustee&#146;s Compensation </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Trustee shall be entitled to the compensation set forth in the letter agreement between the Purchaser and the Trustee dated as of
May&nbsp;10, 2012, as may be amended from time to time. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>11. Voting Consultant&#146;s Compensation </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Voting Consultant shall be entitled to the compensation pursuant to the Master Agreement. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>12. Tax Treatment </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">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. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>13. Notices </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">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. Each such notice, request or other communication shall be effective (i)&nbsp;if given by mail, five days after such communication is deposited in the mail,
return receipt requested, addressed as aforesaid, or (ii)&nbsp;if given by any other means, when delivered at the address specified in this Section. The notice address for each party is specified below: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">if to the Purchaser: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">RBC Capital Markets, LLC </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%;padding-bottom:0px;"><FONT STYLE="font-family:Times New Roman" SIZE="2">Three World Financial Center,
8</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Floor </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Vesey Street </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, NY 10281-8098 </FONT></P>
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<TR>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attention:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Andrew Sanford / Ann Carr</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Telephone:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(212) 618-3227 / (212)&nbsp;437-2496</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Facsimile:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(212) 618-3296</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Email:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>andrew.sanford@rbccm.com / ann.carr@rbccm.com</U></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Capital Markets, LLC </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Three World Financial Center, 12th Floor </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Vesey Street </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, NY 10281-8098 </FONT></P>
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<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attention:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Jake Sigmund</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Telephone:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(212) 428-7925</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Facsimile:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(212) 428-6201</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Email:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">jake.sigmund@rbccm.com</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">12th Floor, South Tower </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank Plaza </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Bay Street </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Toronto, Ontario M5J2W7 </FONT></P>
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<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attention:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">CTM, Yvonne Ling / Carolina Torres</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Telephone:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(416) 842-3932 / (416)&nbsp;842-4021</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Facsimile:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(416) 842-4020</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Email:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>yvonne.ling@rbccm.com</U> / carolina.torres@rbccm.com</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">if to the Trustee: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Lord Securities Corporation </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">48 Wall Street </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, New York 10005 </FONT></P>
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<TD WIDTH="3%"></TD>
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<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attention:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Orlando Figueroa</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Telephone:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(212) 346-9007</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Email:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Orlando.Figueroa@lordspv.com</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">if to the Voting Consultant: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Institutional Shareholder Services Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">67 Yonge Street </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Suite 1400 </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Toronto, Ontario M5E 1J8 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Canada </FONT></P>
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<TD WIDTH="3%"></TD>
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<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attention:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Julie Scott</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Telephone:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(416) 364-9000 ext. 3489</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Email:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">julie.scott@issgovernance.com</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">with a copy to: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Institutional Shareholder Services Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%;padding-bottom:0px;"><FONT STYLE="font-family:Times New Roman" SIZE="2">One Chase Manhattan
Plaza, 44</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Floor </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, New York 10005 </FONT></P>
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<TD WIDTH="3%"></TD>
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<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attention:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">General Counsel</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Telephone:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(212) 804-2930</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Email:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">frederick.bogdan@msci.com</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>14. Modification </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">No modification of this Agreement shall be effective unless in writing and signed by all of the parties hereto. Without the prior written consent of the Fund (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; provided, 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 Fund shall not be unreasonably withheld or delayed. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>15. Benefit and
Burden </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">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. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>16.
Severability </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">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. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>17. Headings </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The section headings herein are for convenience of reference only, and shall not affect the construction, or limit or otherwise affect the meaning hereof. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">8 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>18. Applicable Law </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This Agreement shall be construed and enforced in accordance with and governed by the domestic law of the State of New York. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">THE PARTIES HERETO HEREBY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE FEDERAL AND NEW YORK STATE COURTS LOCATED IN THE CITY OF NEW YORK,
BOROUGH OF MANHATTAN, NEW YORK IN CONNECTION WITH ANY DISPUTE RELATED TO THIS AGREEMENT OR ANY MATTERS CONTEMPLATED HEREBY. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>19. Waiver </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">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. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>20. Assignment </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">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; <I>provided</I> that, without the consent of either the Trustee or the Voting Consultant, the Purchaser may assign its rights and obligations under this Agreement (i)&nbsp;to an Affiliate, (ii)&nbsp;to a
successor entity following a consolidation, amalgamation with, or merger with or into or (iii)&nbsp;to a transferee that acquires all or substantially all of the Purchaser&#146;s assets. Any assignment other than in accordance with this section
shall be void. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>21. Conflicts with Other Documents </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">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. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>22. Counterparts </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">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. Any counterparty 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. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>[The rest of this page has been intentionally left blank] </B></FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">9 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>IN WITNESS WHEREOF</B>, the parties hereto have executed this Agreement as of the date
first set forth above. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC CAPITAL MARKETS, LLC, as Purchaser </FONT></P>
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<TD WIDTH="13%"></TD>
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<TD WIDTH="86%"></TD></TR>


<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/S/ Andrew Sanford</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Andrew Sanford</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Managing Director</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="13%"></TD>
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<TD WIDTH="86%"></TD></TR>


<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">LORD SECURITIES CORPORATION, as Trustee</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/S/ Orlando Figueroa</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Orlando Figueroa</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Managing Director</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">INSTITUTIONAL SHAREHOLDER SERVICES INC., as Voting Consultant</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/S/ Stephen Harvey</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Stephen Harvey</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Head of ISS</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">10 </FONT></P>


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<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>d358731dex993.htm
<DESCRIPTION>EX-99.3
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>EXHIBIT 99.3 </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>REGISTRATION RIGHTS AGREEMENT </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">THIS REGISTRATION RIGHTS AGREEMENT (this
&#147;<B>Agreement</B>&#148;), executed as of May&nbsp;10, 2012, is made by and between (i)&nbsp;Invesco Van Kampen Pennsylvania Value Municipal Income Trust, a closed-end fund organized as a Pennsylvania business trust, including its successors and
assigns by operation of law or Merger (the &#147;<B>Fund</B>&#148;) and (ii)&nbsp;RBC Capital Markets, LLC, a Minnesota limited liability company, including its successors and assigns by operation of law (&#147;<B>RBC</B>&#148;, or the
&#147;<B>Shareholder</B>&#148;). </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>RECITALS </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Fund and the Shareholder have entered into that certain Purchase Agreement dated as of May&nbsp;10, 2012 (the &#147;<B>Purchase Agreement</B>&#148;), regarding the purchase of the VMTP Shares and
certain other rights and obligations of the parties thereof as set forth therein and provide for the execution of this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">NOW THEREFORE, the Parties hereby agree to provide for certain registration rights as follows: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">1. <B>Certain Definitions</B>. As used in this Agreement, the following terms have the following respective meanings: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>1940 Act</B>&#148; means the Investment Company Act of 1940, as amended. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Aborted Registration</B>&#148; has the meaning set forth is Section&nbsp;6(a) of this Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Affiliate</B>&#148; 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 &#147;<B>Affiliates</B>&#148; shall have correlative meaning. For the purpose of this definition, the term &#147;<B>Control</B>&#148; (including with correlative meanings, the
terms &#147;<B>Controlling</B>&#148;, &#147;<B>Controlled by</B>&#148; and &#147;<B>under common Control with</B>&#148;), 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. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Agreement</B>&#148; has the meaning set forth in the preamble to this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Blue Sky</B>&#148; means the statutes of any state regulating the sale of corporate securities within that state. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Board</B>&#148; means the board of trustees of the Fund or any duly authorized committee thereof. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Certificate of Designation</B>&#148; means the Fund&#146;s Certificate of Designation Establishing and Fixing the Rights and Preferences of the VMTP Shares and as amended from time to time in
accordance with the provisions thereof (including any replacement or successor document as a result of any Merger). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Commission</B>&#148; means the United States Securities and Exchange Commission. </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Date of Original Issuance</B>&#148;, with respect to the VMTP Shares, means the
date on which the Fund initially issued such VMTP Shares. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Demand Registration</B>&#148; has the meaning set forth in
Section&nbsp;3.1 of this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Designated Representative</B>&#148; has the meaning set forth in
Section&nbsp;6(j) of this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Effective Date</B>&#148; means the date of this Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Exchange Act</B>&#148; means the United States Securities Exchange Act of 1934, as amended, and the rules and regulations of the
Commission promulgated thereunder, all as from time to time in effect. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>FINRA</B>&#148; shall mean the Financial
Industry Regulatory Authority or any successor. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Form N-2</B>&#148; means such form under the Securities Act as in
effect on the date hereof or any successor registration form under the Securities Act subsequently adopted by the Commission. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Fund</B>&#148; has the meaning set forth in the preamble to this Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Fund Indemnified Persons</B>&#148; has the meaning set forth in Section&nbsp;7.2 of this Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Holder</B>&#148; means any Person in whose name a VMTP Share is registered in the registration books of the Fund maintained by
the Redemption and Paying Agent. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Holder Indemnified Persons</B>&#148; means, with respect to each Holder, such
Holder and its Affiliates and directors, officers, partners, employees, agents, representatives and control persons, entitled to indemnification by the Fund under Section&nbsp;7 of this Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Invesco Persons</B>&#148; means the Fund, the Investment Adviser or any of their respective Affiliates. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Investment Adviser</B>&#148; means Invesco Advisers, Inc., or any successor investment adviser to the Fund. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Majority Holders</B>&#148; means the Holder(s) of more than 50% of the Outstanding VMTP Shares. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Merger</B>&#148; has the meaning set forth in the Purchase Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Outstanding</B>&#148; has the meaning set forth in the Certificate of Designation. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Parties</B>&#148; means collectively the Fund and the Shareholder. Each of the Parties shall be referred to as a
&#147;<B>Party</B>&#148;. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Person</B>&#148; means and includes an individual, a partnership, 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. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Prospectus</B>&#148; shall mean the final prospectus included in a Registration
Statement, including any prospectus filed by the Fund under Rule 430A or Rule 497 of the rules and regulations of the Commission under the Securities Act in connection therewith, and any advertising or sales material prepared by the Fund and filed
under Rule 482 of the rules and regulations of the Commission under the Securities Act 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. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Public Offering</B>&#148; means an offering of Registrable
Securities pursuant to an effective registration statement under the U.S. Securities Act of 1933, as amended. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Purchase Agreement</B>&#148; has the meaning set forth in the recitals to this Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Redemption and Paying Agent</B>&#148; has the meaning set forth in the Certificate of Designation. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Registering Holders</B>&#148; has the meaning set forth in Section&nbsp;3.1 to this Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Registrable Securities</B>&#148; means (i)&nbsp;all of the VMTP Shares issued by the Fund on the Date of Original Issuance or in
connection with a Merger and that remain Outstanding and (ii)&nbsp;any VMTP Shares issued thereon as a dividend or other distribution. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Registration</B>&#148; means a registration effected by preparing and filing a Registration Statement and the declaration or ordering of the effectiveness of that Registration Statement, and the
terms &#147;<B>Register</B>&#148; and &#147;<B>Registered</B>&#148; have meanings correlative with the foregoing. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Registration Expenses</B>&#148; means all expenses incurred by the Fund in complying with Section&nbsp;3 of this Agreement,
including, without limitation, all Registration, qualification, and filing fees, printing expenses, reasonable fees and disbursements of counsel for the Fund, reasonable fees and disbursements of one special counsel for all Holders (if different
from counsels to the Fund), Blue Sky fees and expenses, the expense of any special audits or comfort letters incident to or required by a Registration. Registration Expenses do not include any underwriting discounts or commissions or any fees or
expenses of counsel to the Holders. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Registration Statement</B>&#148; means a registration statement prepared on Form
N-2 under the Securities Act including the related final prospectus or prospectuses. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Securities Act</B>&#148; means
the United States Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder, all as from time to time in effect. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Shareholder</B>&#148; has the meaning set forth in the preamble to this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Underwriters&#146; Representative</B>&#148; has the meaning set forth in Section&nbsp;3.3(b) of this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>U.S.$</B>&#148; or &#147;<B>USD</B>&#148; means United States dollars. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>VMTP Shares</B>&#148; means the shares of Series 2015/6-VPV Variable Rate Muni Term Preferred Shares of the Fund, with a
liquidation preference of U.S.$100,000 or such lower liquidation preference as contemplated by Section&nbsp;3.1. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>2. Registration Rights; Applicability of Rights.</B> The Holders shall be entitled to the
rights with respect to the Registration of the Registrable Securities set forth in this Agreement. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>3. Demand Registration.
</B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.1. <I>Request for Registration</I>. If the Fund receives from the Shareholder a request in writing that the Fund effect
a Registration of all the Registrable Securities, subject to the terms of this Agreement, the Fund shall (i)&nbsp;within 10 days of receipt of such written request, give written notice of the proposed Registration to all other Holders, and
(ii)&nbsp;as soon as practicable, use its commercially reasonable efforts to effect Registration of the Registrable Securities (&#147;<B>Demand Registration</B>&#148;) requested by other Holders within 15 days after they receive such written notice
from the Fund, subject to the limitations of this Section&nbsp;3. Any such written demand for a Demand Registration shall specify the number of Registrable Securities proposed to be sold, if any, and the intended method(s) of distribution thereof.
The Shareholder shall have the right to require the Fund to reduce the liquidation preference of the VMTP Shares to U.S.$25,000 in connection with such written request for a Demand Registration. The right to request a Demand Registration is limited
to the Shareholder, may only be exercised once during the term of this Agreement and must include all of the Registrable Shares; <I>provided</I>, that in the event of an Aborted Registration, the Shareholder shall be permitted to request one
additional Demand Registration. Each other Holder of Registrable Securities, if any, must request that its shares be included in a Demand Registration (such Holders, together with the Shareholder, the &#147;<B>Registering Holders</B>&#148;), but may
not independently request a Demand Registration; <I>provided</I>, that no such requesting Holder shall be obligated to sell any of its Registrable Securities in connection with the Registration. The substantive provisions of Section&nbsp;3.3 of this
Agreement shall be applicable to a Registration initiated under this Section&nbsp;3.1. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.2. <I>Right of Deferral;
Limitations</I>. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) Notwithstanding the foregoing, the Fund shall not be obligated to file a Registration
Statement pursuant to this Section&nbsp;3 if the Fund furnishes to the Shareholder a certificate signed by the President or Chief Executive Officer or chairman of the Board stating that in the good faith judgment of the Board it would be materially
detrimental to the Fund or its shareholders for a Registration Statement to be filed in the near future (including without limitation because the Fund is then engaged in a material transaction or has an undisclosed material corporate development, in
either case, which would be required to be disclosed in the Registration Statement). In such event, the Fund&#146;s obligation to use its commercially reasonable efforts to file a Registration Statement shall be deferred for a period not to exceed
120 days from the delivery of the certificate contemplated in the foregoing sentence to the Shareholder (the &#147;<B>Deferral Period</B>&#148;); <I>provided</I>, that the Fund shall not exercise the right to delay a request contained in this
Section&nbsp;3.2 more than once in any 12 month period, and <I>provided</I>,<I> further,</I> that during the Deferral Period, the Fund shall not file a Registration Statement with respect to any preferred shares of the Fund other than a Registration
Statement with respect to the sale of any preferred shares all or a portion of the proceeds of which will be used to redeem all of the Registrable Securities then Outstanding. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) Notwithstanding anything herein to the contrary, the Fund shall not be obligated to effect a Registration of
Registrable Securities if all of the Registrable Shares are not included in the Demand Registration. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) The Fund shall not be obligated to effect a Registration of Registrable
Securities upon receipt of a written demand for a Demand Registration if the Fund has already completed a Demand Registration. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(d) The Fund shall not be obligated to effect a Registration of Registrable Securities upon receipt of a written demand for a Demand Registration if the Fund furnishes to the Shareholder a certificate
signed by the President or Chief Executive Officer of the Fund stating that within 90 days of receipt of the written demand for a Demand Registration, the Fund intends to (i)&nbsp;file a Registration Statement and offer to the Shareholder and all
other Holders the opportunity to register Registrable Securities thereunder in accordance with Section&nbsp;3.1 or (ii)&nbsp;redeem all of the Registrable Securities Outstanding. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.3. <I>Underwriting in Demand Registration</I>. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) <I>Notice of Underwriting</I>. If the Shareholder intends to distribute the Registrable Securities covered by its
request by means of an underwriting, the Shareholder shall so advise the Fund as part of its request made pursuant to Section&nbsp;3.1, and the Fund shall include that information in the written notice referred to in Section&nbsp;3.1 of this
Agreement. Each Holder shall have the right but not the obligation to include any or all of such Holder&#146;s Registrable Securities in the underwriting to the extent provided herein; it being understood that a failure of all of the Registrable
Securities of the Shareholder to be included in the Registration will result in the Fund not being required to complete the Registration. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(b) <I>Selection of Underwriter in Demand Registration</I>. The Fund shall (together with all Holders proposing to distribute their securities through the underwriting) enter into an underwriting
agreement in customary form for an underwritten offering of preferred shares made solely by selling shareholders (the &#147;<B>Underwriting Agreement</B>&#148;) with the underwriter or, if more than one, the lead underwriter acting as the
representative of the underwriters (the &#147;<B>Underwriters&#146; Representative</B>&#148;) selected for the underwriting by the Holders of a majority of the Registrable Securities proposed to be underwritten and with the consent of the Fund, such
consent not to be unreasonably withheld. The Underwriting Agreement shall provide that in connection with the distribution of Registrable Securities pursuant to the underwriting, no purchaser (other than any underwriters acting as initial purchasers
in the underwriting) shall be permitted to acquire more than 25% of the Outstanding VMTP Shares from the underwriters. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(c) <I>Marketing Limitation in Demand Registration</I>. Notwithstanding any other provision of this Section&nbsp;3, in the event the Underwriters&#146; 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 the Designated Representative, and, if the Fund chooses to proceed with the Registration, 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 <I>pro rata</I> basis based on the number of Registrable Securities requested to be included in the Registration by all such selling Holders
(including the Shareholder), <I>provided</I>,<I> however</I>, that the number of Registrable Securities to be included in any such underwriting held by Holders shall not be reduced unless all other Registrable Securities of the Fund, its Affiliates
and Invesco Persons, other than any account or Person that is an Affiliate of the Fund or an Invesco </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">
Person solely because the Investment Adviser or its Affiliate is the investment adviser, manager, general partner of or otherwise exercises discretionary authority or control over such account or
Person, are first entirely excluded from the underwriting. Unless the prior written consent of the Person holding a majority of the Registrable Securities to be included in the underwriting has been obtained, the number of the Registrable Securities
included in any such underwriting shall not be reduced to less than 90% of the numbers of the Registrable Securities requested to be included. Any Registrable Securities or other securities excluded from the underwriting by reason of this
Section&nbsp;3.3(c) shall be withdrawn from the Registration. To facilitate the allocation of shares in accordance with the foregoing, the underwriters may round the number of shares allocated to any Holder to the nearest one share. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) <I>Right of Withdrawal in Demand Registration</I>. If any Holder of Registrable Securities (other than the
Shareholder) desires, such Holder may elect to withdraw its Registrable Securities from sale thereunder in accordance with the underwriting agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>4. </B><B>Expenses of Registration</B>. All Registration Expenses incurred in connection with a Registration pursuant to Section&nbsp;3.1 of this Agreement shall be split equally among the Fund and the
Holders of Registrable Shares that are to be Registered; provided, that the Registration Expenses payable by RBC in connection with a Registration of the Registrable Securities of the Fund shall not exceed $250,000; provided, further, that in the
event of an Aborted Registration the Fund shall be obligated to pay 100% of any Registration Expenses incurred in connection with a subsequent Registration pursuant to Section&nbsp;3.1 of this Agreement. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>5. Assignability of Registration Rights; Termination of Registration Rights; Limitation on Subsequent Registration Rights
</B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">5.1. <I>Assignability of Registration Rights.</I> Except as provided in Section&nbsp;8.11 of this Agreement, no Party may
assign, delegate or otherwise transfer any of its rights or obligations under this Agreement without the prior written consent of the other Party to this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">5.2. <I>Termination of Registration Rights. </I>The right to cause the Fund to register Registrable Securities granted under Section&nbsp;3 of this Agreement and to receive notices pursuant to
Section&nbsp;3 of this Agreement, shall terminate on the earliest of (i)&nbsp;January&nbsp;2, 2015, (ii)&nbsp;a notice of redemption having been issued by the Fund under the Certificate of Designation for the redemption of all of the Registrable
Securities, or the repurchase by the Fund of all of the Registrable Securities, (iii)&nbsp;the date the Shareholder is no longer the beneficial owner of any Outstanding VMTP Shares and (iv)&nbsp;the date a Demand Registration has been effected.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>6. </B><B>Registration Procedures and Obligations</B>. To the extent within its control, the Fund shall use its
commercially reasonable efforts, whenever required under this Agreement to effect the Registration of any Registrable Securities: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(a) (i) to prepare and file a Registration Statement with the Commission which (x)&nbsp;shall be on Form N-2, if available, or any other form for which the Fund qualifies or which counsel for the Fund
shall deem appropriate and which form shall be available for the sale of all Registrable Securities to be registered thereunder in accordance with Section&nbsp;3.1 above and the intended method(s) of distribution thereof (y)&nbsp;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)&nbsp;shall comply in all material respects 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&#146; Representative to be
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">6 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">
included therein relating to the underwriters and plan of distribution for the Registrable Securities, (ii)&nbsp;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; <I>provided</I>, <I>however</I>, that the Fund shall not be required to cause a Registration Statement to
remain effective for a period subsequent to 30 days after it became effective to the extent there are material events that in the opinion of counsel to the Fund require disclosure in the Registration Statement and the Fund has determined that any
such additional disclosure is adverse to the interests of the Fund (the discontinuance of the effectiveness of the Registration Statement under any such circumstances, an &#147;<B>Aborted Registration</B>&#148;), (iii)&nbsp;cause the Registration
Statement, as of the effective date of such Registration Statement, (x)&nbsp;to comply in all material respects with all applicable requirements of the Securities Act and (y)&nbsp;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)&nbsp;to cause the Prospectus, as of the date thereof, (x)&nbsp;to
comply in all material respects with all applicable requirements of the Securities Act and (y)&nbsp;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; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) subject to
Section&nbsp;6(a) above, to 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 period specified in
Section&nbsp;6(a)(ii); cause the 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 applicable
provisions of the Securities Act with respect to the disposition of all Registrable Securities covered by the Registration Statement during the period specified in Section&nbsp;6(a)(ii) in accordance with the intended method or methods of
distribution by the selling Holders thereof, as set forth in the Registration Statement; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) to 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, as many copies of the Prospectus, any preliminary prospectus, and any amendments or
supplements thereto 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 and any preliminary prospectus
approved by the Fund in writing for such use, 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 any preliminary prospectus, as applicable; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) (i) 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&#146; Representative, if any, or any Holder having Registrable Securities covered by the
Registration Statement, shall reasonably request and (ii)&nbsp;to keep each such registration or qualification effective during the period specified in Section&nbsp;6(a)(ii); </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) to notify the Designated Representative promptly, and, if requested by
such Designated Representative, to confirm such notification in writing, (i)&nbsp;when the Registration Statement has become effective and when any post-effective amendments and supplements thereto become effective, (ii)&nbsp;when the Fund discovers
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)&nbsp;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)&nbsp;when the Fund
discovers the happening of any event during the period the Registration Statement is effective as a result of which such Registration Statement or the 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; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(f) to furnish designated counsel for each of the underwriters, if any, and to 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; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(g) to obtain the withdrawal of any order suspending the effectiveness of a Registration Statement at the earliest possible time; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(h) upon request, to furnish to the Underwriters&#146; 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 furnish to each Holder upon request for which the Registrable Securities are being registered, at least one conformed copy of the Registration Statement and any post-effective amendment thereto (without documents incorporated therein
by reference or exhibits thereto, unless requested); </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) upon the Fund&#146;s discovery of the occurrence of
any event contemplated by paragraph (e)(iv) of this Section, to prepare a supplement or post-effective amendment to the 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, the 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; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(j) to
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 customary provisions with respect to indemnification and
contribution or as otherwise agreed by the parties) and in connection therewith: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) in the case of an
underwritten Public Offering, to make such representations and warranties to the underwriters in form, substance and scope as are customarily made by issuers to underwriters in similar underwritten offerings for sales only by selling shareholders;
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) in the case of an underwritten Public Offering, to obtain an opinion of counsel to the Fund and updates
thereof addressed to the underwriters covering the matters customarily covered in opinions requested in similar underwritten offerings for sales only by selling shareholders and such other matters as may be reasonably requested by underwriters (and
which opinion (in form, scope and substance) shall be reasonably satisfactory to the Underwriters&#146; Representative, if any); <I>provided</I>, that the Holders and their counsel shall be entitled to rely upon certificates delivered by the Fund to
counsel in connection with the opinions referenced in this subclause (ii); </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">8 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) in the case of an underwritten Public Offering, to obtain
&#147;comfort&#148; letters or &#147;agreed-upon procedures&#148; letters and updates thereof from the Fund&#146;s independent certified public accountants addressed to the underwriters which letters shall be customary in form and shall cover
matters of the type customarily covered in such letters to underwriters in connection with similar underwritten offerings for sales only by selling shareholders; and </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) 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 &#147;<B>Designated Representative</B>&#148;) or by the Underwriters&#146; Representative, if any; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(k) to make available for inspection by the Designated Representative and by any underwriters participating in any
disposition pursuant to the Registration Statement and counsel or accountants retained by such Holders or by counsel to such underwriters, all relevant and material financial and other records, pertinent and material corporate documents and
properties of the Fund, except to the extent prohibited by law or regulation and cause the respective officers, trustees 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 to the extent that such requests do not interfere with the discharge of such person&#146;s duties; <I>provided</I>, that, prior to the Fund or its representatives
providing any such documentation or information, in each case, each Registering Holders and each underwriter shall have entered into a confidentiality agreement with the Fund in form and substance reasonably satisfactory to the Fund; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(l) within a reasonable time prior to the filing of the Registration Statement, any Prospectus, any amendment to the
Registration Statement or amendment or supplement to a Prospectus, to 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; to 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 make such of
the representatives of the Fund as shall be reasonably requested by the Designated Representative or the Underwriters&#146; Representative available for discussion with such person of such document; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(m) to comply in all material respects with all applicable rules and regulations of the Commission; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(n) to cooperate with any reasonable requests made in connection with any filings required to be made with FINRA and in
the performance of any due diligence investigation by any underwriter in an underwritten offering in accordance with Section&nbsp;6(k); and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(o) to facilitate the distribution and sale of any Registrable Securities to be offered pursuant to this Agreement by taking such actions as shall be reasonably requested by the Underwriters&#146;
Representative. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">9 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Each selling Holder of the Registrable Securities as to which a Registration is being
effected pursuant to this Agreement must agree, as a condition to the Registration obligations 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. Each selling Holder of the Registrable Securities as to which a Registration is being effected pursuant to this Agreement must agree, as a condition to the Registration obligations provided herein, to suspend use of any
Prospectus if it has received the notification contemplated by Section&nbsp;6(e)(iv) above until such time as the Fund notifies such Holder that it has complied with Section&nbsp;6(i) above. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>7. Indemnification. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">7.1. <I>Fund&#146;s Indemnification of Holders</I>. The Fund agrees to indemnify and hold harmless each 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 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 insofar as such loss, claim, damage, liability or expense arises out of or is based upon (a)&nbsp;any untrue statement or allegedly untrue statement or omission or alleged
omission made in such Registration Statement, Prospectus or supplement thereto in reliance upon and in conformity with information furnished in writing to the Fund by the underwriter or any Holder expressly for use therein, or (b)&nbsp;the use of a
Registration Statement or Prospectus during a period when the Designated Representative has been notified that a stop order has been issued in respect thereof or any proceeding for that purpose has been initiated, or the use of a Registration
Statement or Prospectus has been suspended by the Fund pursuant to the terms of this Agreement. The foregoing indemnity shall not inure to the benefit of any Holder Indemnified Person from whom the person asserting losses, claims, damages,
liabilities or expenses purchased Registrable Securities, if a copy of the Prospectus (as then amended or supplemented if the Fund shall have furnished any amendments or supplements thereto) was not sent or given by or on behalf of such Holder
Indemnified Person to such person, if required by law so to have been delivered at or prior to the written confirmation of the sale of Registrable Securities to such person, and if the Prospectus (as so amended or supplemented) would have cured the
defect giving rise to such losses, claims, damages, liabilities or expenses, unless such failure is the result of noncompliance by the Fund with Section&nbsp;6(b) of this Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">7.2. <I>Holders&#146; Indemnification of the Fund.</I> Each Holder will, with respect to a Registration Statement where Registrable
Securities were registered under the Securities Act, indemnify and hold harmless the Fund, each of the Fund&#146;s directors and officers, and each other person, if any, who controls the Fund (within the meaning of Section&nbsp;15 of the Securities
Act or Section&nbsp;20 of the Exchange Act) (each, a &#147;<B>Fund Indemnified Persons</B>&#148;), against any losses, claims, damages, liabilities or expenses, whether joint or several, insofar as such losses, claims, damages, liabilities or
expenses (or actions in respect thereof) arise out of or are based upon any untrue statement or allegedly untrue statement of a material fact contained in a Registration Statement under which the sale of such Registrable Securities was registered
under the Securities Act, any Prospectus or supplement thereto contained in such Registration Statement, or any amendment or supplement to the Registration Statement, or arise out of or are based upon any omission or the alleged omission to state a
material fact required to be stated therein or necessary to make the statement therein not misleading, if the statement or omission was made in reliance upon and in conformity with information furnished in writing to the Fund by the Holder expressly
for use therein. Each Holder&#146;s indemnification obligations hereunder shall be limited to the amount of any net proceeds actually received by such Holder. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">10 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">7.3. <I>Indemnification Procedure</I>. If any action, suit, proceeding or investigation
shall be brought or asserted against any indemnified person, such indemnified person shall, if a claim in respect thereof is to be made against any indemnifying person under this Section&nbsp;7, notify the indemnifying person in writing with
reasonable promptness. The failure to deliver written notice to the indemnifying person within a reasonable time of the commencement of any such action, if materially prejudicial to its ability to defend such action, shall relieve such indemnifying
person of any liability to the indemnified party under this Section 7, but the omission so to deliver written notice to the indemnifying person shall not relieve it of any liability that it may have to any indemnified party otherwise than under this
Section 7. The indemnifying person 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. The indemnified person 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 person unless (i)&nbsp;the indemnifying person has failed promptly to assume the defense and
employ counsel reasonably satisfactory to the indemnified person in accordance with the preceding sentence or (ii)&nbsp;the indemnified person shall have been advised by counsel that there exist actual or potential conflicting interests between the
indemnifying person 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 person. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The indemnifying person shall not be liable for any settlement of any such Proceeding effected without its prior written consent. The
indemnifying person will not, without the prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed, of the indemnified persons, 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 persons hereunder (whether or not the indemnifying 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 each indemnified person from all liability and obligations arising therefrom. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">7.4. <I>Contribution</I>. To the extent that the indemnification sought by indemnified persons pursuant to this Agreement is unavailable to an indemnified person or insufficient in respect of any losses,
claims, damages or liabilities (or actions in respect thereof), then the indemnifying person, in order to provide for just and equitable contribution and in lieu of indemnifying such indemnified person, shall contribute to the amount paid or payable
by such indemnified persons 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 indemnifying person on the one hand and the
indemnified person(s) on the other, as well as any other relevant equitable considerations. 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. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">7.5. <I>No Limitations.</I> Nothing in this Section&nbsp;7 is intended to limit any party&#146;s obligations contained in other parts of
this Agreement or the VMTP Shares, provided that no amount shall be reimbursed twice in any event. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">11 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">7.6. <I>Conflicts</I>. 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.
</FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>8. Miscellaneous. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">8.1. <I>Governing Law</I>. This Agreement shall be construed in accordance with and governed by the domestic law of the State of New York. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">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. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.2. <I>No Waivers</I>. 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. No failure or delay by the Fund or the Shareholder in exercising any right, power or privilege under or in respect of the VMTP Shares shall affect the rights, powers or privileges of
the Fund or the Shareholder hereunder or shall operate as a limitation or waiver thereof. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.3. <I>Specific Performance</I>. Each Party hereby acknowledges that the remedies at law of the other Party 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. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.4. <I>Waiver of Jury</I>. The Fund and the Shareholder 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. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.5. <I>Counterparts and Facsimile Execution</I>. 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 electronic mail shall be deemed for all purposes as being a good and valid execution and delivery of
this Agreement by that party. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.6. <I>Headings</I>. The headings of the Sections of this Agreement are for convenience and
shall not by themselves determine the interpretation of this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.7. <I>Notices</I>. All notices, requests and other
communications to any Party hereunder shall be in writing (including telecopy, electronic mail or similar writing), 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. Each such notice, request or other communication shall be effective when delivered at the address specified in this Section. The notice
address for each party is specified below: </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">12 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If to the Fund, to: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Invesco Van Kampen Pennsylvania Value Municipal Income Trust </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">11 Greenway Plaza,
Suite 2500 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Houston, TX 77046 </FONT></P>
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<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="83%"></TD></TR>


<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attention:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">John Zerr, General Counsel</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Telephone:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(713) 214-1191</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Telecopy:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(713) 993-9185</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Email:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">John.Zerr@Invesco.com</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If to RBC, to: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">RBC Capital Markets, LLC </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%;padding-bottom:0px;"><FONT STYLE="font-family:Times New Roman" SIZE="2">Three World Financial Center,
8</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Floor </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Vesey Street </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, NY 10281-8098 </FONT></P>
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<TD WIDTH="8%"></TD>
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<TD WIDTH="83%"></TD></TR>


<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attention:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Andrew Sanford / Ann Carr</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Telephone:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(212) 618-3227 / (212)&nbsp;437-2496</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Facsimile:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(212) 618-3296</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Email:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>andrew.sanford@rbccm.com / ann.carr@rbccm.com</U></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Capital Markets, LLC </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Three World Financial Center, 12th Floor </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Vesey Street </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, NY 10281-8098 </FONT></P>
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<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="83%"></TD></TR>


<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attention:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Jake Sigmund</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Telephone:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(212) 428-7925</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Facsimile:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(212) 428-6201</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Email:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">jake.sigmund@rbccm.com</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">12th Floor, South Tower </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank Plaza </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Bay Street </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Toronto, Ontario M5J2W7 </FONT></P>
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<TD WIDTH="8%"></TD>
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<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attention:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">CTM, Yvonne Ling / Carolina Torres</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Telephone:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(416) 842-3932 / (416)&nbsp;842-4021</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Facsimile:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(416) 842-4020</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Email:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>yvonne.ling@rbccm.com</U> / carolina.torres@rbccm.com</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.8. <I>Amendments and Waivers</I>. 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). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.9. <I>Severability</I>. 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 be preserved. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">8.10. <I>Entire Agreement.</I> 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. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">13 </FONT></P>



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<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.11. <I>Successors and Assigns; Assignment</I>. The provisions of this Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 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 (including any Merger)) except that prior to the VMTP Shares being registered under the Securities Act, any transferee of VMTP Shares in a valid transfer recognized by or
required to be recognized by the Fund shall have the rights of a Holder hereunder. Any assignment without such prior written consent shall be void. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">8.12. <I>Effectiveness of this Agreement. </I>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. Notwithstanding anything expressed or implied in this Agreement to the contrary, nothing in this Agreement shall confer upon any Holder any rights to dividends on, or a redemption of, VMTP Shares (other than the rights provided
to Holders under the Certificate of Designation) or any rights which would result in the VMTP Shares owned or held by such Holder having priority over VMTP Shares owned or held by any other person as to distribution of assets or payment of
dividends. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">[<I>Signatures follow on the next page.</I>] </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">14 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">IN WITNESS WHEREOF, the parties to this Agreement have executed this Agreement on the date
first written above. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
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<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>THE FUND:</B></FONT></TD></TR>
<TR>
<TD HEIGHT="8" COLSPAN="3"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3" NOWRAP> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">INVESCO&nbsp;VAN&nbsp;KAMPEN&nbsp;PENNSYLVANIA&nbsp;VALUE</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">MUNICIPAL INCOME TRUST</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">/S/ John Zerr</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">John Zerr</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Senior Vice President</FONT></TD></TR>
<TR>
<TD HEIGHT="8" COLSPAN="3"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>THE SHAREHOLDER:</B></FONT></TD></TR>
<TR>
<TD HEIGHT="8" COLSPAN="3"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC CAPITAL MARKETS, LLC</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">/S/ Andrew Sanford</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Andrew Sanford</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Managing Director</FONT></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">15 </FONT></P>


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<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>d358731dex994.htm
<DESCRIPTION>EX-99.4
<TEXT>
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<TITLE>EX-99.4</TITLE>
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<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>EXHIBIT 99.4</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Variable Rate Muni Term Preferred Shares Purchase Agreement </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Invesco Van Kampen Pennsylvania Value Municipal Income Trust </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">as Issuer </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">RBC CAPITAL MARKETS, LLC </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">as Purchaser </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">May&nbsp;10, 2012 </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>TABLE OF CONTENTS </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Page</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE I DEFINITIONS</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 1.01. Definitions</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 1.02. Certain Other Definitions</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE II PURCHASES AND TRANSFERS, COSTS AND EXPENSES; ADDITIONAL FEE</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 2.01. Commitment to Purchase VMTP Shares</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 2.02. Sale of VMTP Shares</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 2.03. Expense Reimbursement</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE III CLOSING</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 3.01. Conditions to Closing</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE FUND</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 4.01. Existence</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 4.02. Authorization; Contravention</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 4.03. Binding Effect</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 4.04. Financial Information</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 4.05. Litigation</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 4.06. Consents</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 4.07. Information Statement</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 4.08. Offering of VMTP Shares</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 4.09. Complete and Correct Information</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 4.10. 1940 Act Registration</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 4.11. Effective Leverage Ratio; Minimum Asset Coverage</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 4.12. Investment Policies</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 4.13. Credit Quality</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 4.14. Due Diligence</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 4.15. Intent to Issue Equity</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE V REPRESENTATIONS AND WARRANTIES OF THE PURCHASER</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 5.01. Existence</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 5.02. Authorization; Contravention</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 5.03. Binding Effect</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 5.04. Consents</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 5.05. Due Diligence</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 5.06. Intent to Purchase Equity</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">14</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 5.07. Investment Purpose</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">14</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 5.08. Underwriter Status</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">14</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE VI COVENANTS OF THE FUND</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">14</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 6.01. Future Agreements</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">14</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 6.02. No Setoff</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">15</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 6.03. Merger Expenses</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">15</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 6.04. Tax Opinion</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">15</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 6.05. Tax Reporting</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">15</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE VII COVENANTS OF THE PURCHASER</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">16</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 7.01. Voting Rights</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">16</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 7.02. Tax Treatment</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">18</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 7.03. Prior Consent</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">18</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE VIII MISCELLANEOUS</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">19</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 8.01. Notices</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">19</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 8.02. No Waivers</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">20</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 8.03. Expenses and Indemnification</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">21</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 8.04. Amendments and Waivers</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">23</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 8.05. Successors and Assigns</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">23</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 8.06. Term of this Agreement</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">23</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 8.07. Governing Law</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">23</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 8.08. Waiver</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">23</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 8.09. Counterparts</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">23</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 8.10. Beneficiaries</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">24</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 8.11. Entire Agreement</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">24</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 8.12. Severability</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">24</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 8.13. Confidentiality</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">24</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SECTION 8.14. General</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">26</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Schedule I</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Description of VMTP Shares</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Schedule II</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Litigation</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Schedule&nbsp;III</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Calculation of Effective Leverage Ratio and the Minimum Asset Coverage</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Exhibit A</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Forms of Opinions of Counsel for the Fund</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Exhibit A-1</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Form of Corporate and 1940 Act Opinion of Skadden, Arps, Slate, Meagher &amp; Flom LLP</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Exhibit A-2</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Form of Opinion of Pennsylvania Counsel to the Fund</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Exhibit A-3</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Form of Tax Opinion of Skadden, Arps, Slate, Meagher &amp; Flom LLP</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Exhibit&nbsp;A-4</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Form of Opinion of Counsel of the Redemption and Paying Agent</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Exhibit B</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Forms of Related Documents</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Exhibit B-1</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Form of Certificate of Designation</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Exhibit B-2</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Form of Voting Trust Agreement</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Exhibit B-3</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Form of Registration Rights Agreement</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Exhibit&nbsp;B-4</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Form of VMTP Shares</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Exhibit B-5</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Declaration of Trust of the Fund</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Exhibit B-6</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Form of Acquiring Fund Declaration of Trust</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Exhibit B-7</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Form of Acquiring Fund By-Laws</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Exhibit B-8</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Form of Acquiring Fund Statement of Preferences</FONT></TD></TR>
</TABLE>

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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>VARIABLE RATE MUNI TERM PREFERRED SHARES PURCHASE AGREEMENT</B> dated as of May&nbsp;10, 2012 (the
&#147;<B>Closing Date</B>&#148;) </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">BETWEEN: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>INVESCO VAN KAMPEN PENNSYLVANIA VALUE MUNICIPAL INCOME TRUST</B>, a closed-end investment company organized as a Pennsylvania business trust, as issuer (the
&#147;<B>Fund</B>&#148;); and </FONT></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>RBC Capital Markets, LLC</B>, a Minnesota limited liability company, including its successors and assigns by operation of law (the &#147;<B>Purchaser</B>&#148;).
</FONT></TD></TR></TABLE> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>WHEREAS: </B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(A)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Fund has authorized the issuance to the Purchaser of its Variable Rate Muni Term Preferred Shares, as set forth on Schedule I hereto, which are the subject of this
Agreement (the &#147;<B>VMTP Shares</B>&#148;) and which are in the form set forth as Exhibit B-4 hereto; </FONT></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(B)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Each of the Fund and the Purchaser desires that the VMTP Shares be equity of the Fund under Applicable Law and for all tax purposes; </FONT></TD></TR></TABLE>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(C)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">As an inducement to the Purchaser to purchase the VMTP Shares, the Fund now desires to enter into this Agreement to set forth certain representations, warranties,
covenants and agreements regarding the Fund and the VMTP Shares; and </FONT></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(D)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">As an inducement to the Fund to issue and sell the VMTP Shares, the Purchaser desires to enter into this Agreement to set forth certain representations, warranties and
agreements regarding the Purchaser and the VMTP Shares. </FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>NOW, THEREFORE</B>, in consideration of the
respective agreements contained herein, the parties hereto agree as follows: </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE I </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>DEFINITIONS </B></FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 1.01. Definitions.</B> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The following terms, as used herein, have the
following meanings (with terms defined in the singular having comparable meanings when used in the plural and vice versa): </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>1940 Act</B>&#148; means the U.S. Investment Company Act of 1940 and the Rules and Regulations thereunder, as amended from time
to time. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Acquiring Fund</B>&#148; means a Delaware statutory trust into which the Fund may be redomesticated.
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Additional Shares</B>&#148; means any additional shares of VMTP Shares or shares of
beneficial interest of any class or series of the Fund having voting powers of which an Affiliate of the Purchaser is the Beneficial Owner (with the meaning used in Section&nbsp;7.01) or of which the Purchaser becomes the Beneficial Owner (with the
meaning used in Section&nbsp;7.01) during the term of the Voting Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Affiliate</B>&#148; means, with
respect to a Person, (i)&nbsp;any other Person who, directly or indirectly, is in control of, or controlled by, or is under common control with, such Person or (ii)&nbsp;any other Person who is a director, officer, employee or general partner
(a)&nbsp;of such Person, (b)&nbsp;of any majority-owned subsidiary or parent company of such Person or (c)&nbsp;of any Person described in clause (i)&nbsp;above. For the purposes of this definition, &#147;control&#148; of a Person shall mean the
power, direct or indirect, (x)&nbsp;to vote more than 25% of the securities having ordinary voting power for the election of directors of such Person or (y)&nbsp;to direct or cause the direction of the management and policies of such Person whether
by contract or otherwise. For the purposes of this Agreement, the term &#147;Affiliate&#148; includes a tender option bond trust of which the Purchaser and/or one or more of its Affiliates collectively own a majority of the residual interests.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Agent Member</B>&#148; means a Person with an account at the Securities Depository that holds one or more VMTP
Shares through the Securities Depository, directly or indirectly, for a Beneficial Owner and that will be authorized and instructed, directly or indirectly, by a Beneficial Owner to disclose information to the Redemption and Paying Agent with
respect to such Beneficial Owner. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Agreement</B>&#148; means this Variable Rate Muni Term Preferred Shares Purchase
Agreement, as it may be amended, restated, supplemented or otherwise modified from time to time in accordance with the terms hereof. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Applicable Law</B>&#148; means the law of the Commonwealth of Pennsylvania and the federal law of the United States of America (including, without limitation, the 1940 Act). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Beneficial Owner</B>&#148; means a Person in whose name VMTP Shares are recorded as beneficial owner of such VMTP Shares by the
Securities Depository, an Agent Member or other securities intermediary on the records of such Securities Depository, Agent Member or securities intermediary, as the case may be, or, if applicable, such Person&#146;s subrogee; <U>provided</U>,
<U>however</U>, that &#147;<B>Beneficial Owner</B>&#148; as used in Section&nbsp;7.01 of this Agreement means any Person who, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise has or shares
(i)&nbsp;voting power which includes the power to vote, or to direct the voting of, securities and/or (ii)&nbsp;investment power which includes the power to dispose, or to direct the disposition of, securities. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Board of Trustees</B>&#148; means the Board of Trustees of the Fund or any duly authorized committee thereof. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Broker-Dealer</B>&#148; means any registered broker-dealer that has indicated on its BrokerCheck Report (available on FINRA
BrokerCheck) under &#147;Firm Operations&#151;Types of Business&#148; that it is engaged in each of the following business lines: (i)&nbsp;&#147;Broker or dealer retailing corporate equity securities over-the-counter;&#148; and
(ii)&nbsp;&#147;Underwriter or selling group participant&#148; (of any type of securities); <I>provided</I> that, if FINRA shall discontinue the existence of BrokerCheck, &#147;Broker-Dealer&#148; means any registered broker-dealer that engages in
such business lines or substantively equivalent business lines as indicated on whatever publicly available information source that replaces FINRA BrokerCheck; provided further that if no publicly available information source replaces FINRA
BrokerCheck, &#147;Broker-Dealer&#148; shall mean any registered broker dealer. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Business Day</B>&#148; means a day (a)&nbsp;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)&nbsp;on which the New York Stock Exchange is not closed. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Certificate of Designation</B>&#148; means the Fund&#146;s Certificate of Designation Establishing and Fixing the Rights and Preferences of the VMTP Shares, as amended from time to time in
accordance with the provisions thereof, in the form set forth as Exhibit B-1 (including any replacement or successor document as a result of any Merger, in the form set forth as Exhibit B-8). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Closed-End Funds</B>&#148; has the meaning set forth in Section&nbsp;2.02(a). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Closing Date</B>&#148; has the meaning set forth in the preamble to this Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Common Shares</B>&#148; has the meaning set forth in the Fund&#146;s Declaration of Trust. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Confidential Information</B>&#148; has the meaning set forth in Section&nbsp;8.13. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Conversion</B>&#148; has the meaning set forth in Section&nbsp;7.01(b). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Declaration of Trust</B>&#148; means the Declaration of Trust, as amended and supplemented (including by the Certificate of
Designation), of the Fund as filed with the Secretary of the Commonwealth of Massachusetts and attached in the form set forth as Exhibit B-5 (including any replacement or successor document as a result of any Merger, in the form set forth as Exhibit
B-6). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Deviation</B>&#148; has the meaning set forth in Section&nbsp;7.01(c). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Effective Leverage Ratio</B>&#148; has the meaning set forth in the Certificate of Designation. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Exchange Act</B>&#148; means the U.S. Securities Exchange Act of 1934, as amended. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Excluded Transfer&#148;</B> means any transfer of VMTP Shares (1)&nbsp;to a tender option bond trust in which the Purchaser
and/or its Affiliates collectively own all of the residual interests, (2)&nbsp;in connection with a distribution in-kind to the holders of securities of or receipts representing an ownership interest in any tender option bond trust in which the
Purchaser and/or its Affiliates collectively own all of the residual interests, (3)&nbsp;in connection with a repurchase financing transaction, (4)&nbsp;relating to a collateral pledge arrangement, (5)&nbsp;to a Person who, after giving effect to
such transfer, together with any affiliated person (as defined in the 1940 Act) of such Person, will own, hold or control with power to vote, not more than 25% of the Outstanding VMTP Shares or (6)&nbsp;to the Purchaser or an Affiliate of the
Purchaser. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Expenses</B>&#148; has the meaning set forth in Section&nbsp;8.03(b). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Fitch</B>&#148; means Fitch Ratings, a part of the Fitch Group, which is a majority-owned subsidiary of Fimalac, S.A., or any
successor thereto. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Foreign Entity</B>&#148; means any non-U.S. entity that is an Operating Company
whose equity securities (or depositary receipts) are publicly traded and has a market capitalization of a U.S. dollar equivalent of not less than U.S.$1,000,000,000 on the trade date for the proposed transfer of VMTP Shares. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Fund</B>&#148; has the meaning set forth in the preamble to this Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Holder</B>&#148; means a Person in whose name a VMTP Share is registered in the registration books of the Fund maintained by the
Redemption and Paying Agent. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The word &#147;<B>including</B>&#148; means &#147;including but not limited to&#148;.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Indemnified Persons</B>&#148; means the Purchaser and its Affiliates and directors, officers, partners, employees,
agents, representatives and control persons entitled to indemnification by the Fund under Section&nbsp;8.03. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Information Statement</B>&#148; means the information statement of the Fund relating to the offering and sale of the VMTP Shares
dated May&nbsp;10, 2012. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Investment Adviser</B>&#148; means Invesco Advisers, Inc., or any successor investment
advisor to the Fund. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Legal Process</B>&#148; has the meaning set forth in Section&nbsp;8.13. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Liquidation Preference</B>&#148; means $100,000 per share. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Merger</B>&#148; means the merger of the Fund with any other registered closed-end investment company managed by the Investment
Adviser that has issued and sold VMTP Shares to the Purchaser and/or the redomestication of the Fund to a Delaware statutory trust. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Minimum Asset Coverage</B>&#148; has the meaning set forth in the Certificate of Designation. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Moody&#146;s</B>&#148; means Moody&#146;s Investors Service, Inc., a Delaware corporation, or any successor thereto. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>NRSRO</B>&#148; means a &#147;nationally recognized statistical rating organization&#148; within the meaning of Section&nbsp;3(a)(62) of the Exchange Act, that is not an &#147;affiliated
person&#148; (as defined in Section&nbsp;2(a)(3) of the 1940 Act) of the Fund, including, at the date hereof, Moody&#146;s and Fitch. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Operating Company</B>&#148; means any company that (i)&nbsp;is not, and does not hold itself out as being engaged primarily in the business of investing, reinvesting, owning, holding or trading
in securities and does not own securities having a value exceeding 50% of the value of such company&#146;s total assets as set forth on such company&#146;s most recently publicly available financial statement; or (ii)&nbsp;is a banking institution,
insurance company or broker-dealer, incorporated or organized under the laws of a country other than the United States, or a political subdivision of a country other than the United States that is regulated as such by that country&#146;s or
subdivision&#146;s government or any agency thereof. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Outstanding</B>&#148; has the meaning set forth in the
Certificate of Designation. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Person</B>&#148; 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. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Policy Change</B>&#148; has the meaning set forth in Section&nbsp;7.01(d). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Purchase Price</B>&#148; means, in respect of 1,301 VMTP Shares sold to the Purchaser on the Closing Date, $130,100,000. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Purchaser</B>&#148; has the meaning set forth in the preamble to this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>QIB</B>&#148; means a &#147;qualified institutional buyer&#148; as defined in Rule 144A under the Securities Act. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Rating Agency</B>&#148; has the meaning set forth in the Certificate of Designation. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Redemption and Paying Agent</B>&#148; means Deutsche Bank Trust Company Americas or any successor Person, that has entered into an agreement with the Fund to act as the Fund&#146;s transfer
agent, registrar, dividend disbursing agent, paying agent, redemption price disbursing agent and calculation agent in connection with the payment of regularly scheduled dividends with respect to each Series of VMTP Shares, or any successor by
operation of law or any successor that acquires all or substantially all of the assets and assumes all of the liabilities of the Redemption and Paying Agent being replaced, either directly or by operation of law, provided that such successor
(i)&nbsp;is one of either U.S. Bank National Association, The Bank of New York Mellon Trust Company, National Association or Deutsche Bank Trust Company Americas, (ii)&nbsp;has a rating of at least A3/A- from an NRSRO and (iii)&nbsp;is a licensed
banking entity with trust powers or a trust company and has total assets of at least $50 million. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Redemption and
Paying Agent Agreement</B>&#148; means the redemption and paying agent agreement, dated as of May&nbsp;8, 2012, by and between the Fund and the Redemption and Paying Agent pursuant to which Deutsche Bank Trust Company Americas, or any successor,
acts as Redemption and Paying Agent, as amended, modified or supplemented from time to time. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Registration Rights
Agreement</B>&#148; means the registration rights agreement entered into between the Fund and the Purchaser dated as of the Closing Date, in the form set forth as Exhibit B-3, as amended from time to time. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Related Documents</B>&#148; means this Agreement, the Declaration of Trust, the Certificate of Designation, the Registration
Rights Agreement and the VMTP Shares. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Representatives</B>&#148; has the meaning set forth in Section&nbsp;8.13.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Right of First Refusal Procedures</B>&#148; has the meaning set forth in Section&nbsp;2.02(b). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Securities Act</B>&#148; means the U.S. Securities Act of 1933, as amended. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Securities Depository</B>&#148; 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. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Subject
Shares</B>&#148; means VMTP Shares acquired from time to time by the Purchaser. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Transactions</B>&#148; has the meaning set forth in Section&nbsp;8.13. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>VMTP Shares</B>&#148; has the meaning set forth in the recitals to this Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Voting Right</B>&#148; has the meaning set forth in Section&nbsp;7.01. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Voting Trust Agreement</B>&#148; means the agreement, dated as of May&nbsp;10, 2012, among RBC Capital Markets, LLC, as
purchaser, Lord Securities Corporation, as voting trustee, and Institutional Shareholder Services Inc., as voting consultant, in the form set forth as Exhibit B-2. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Voting Trustee</B>&#148; means Lord Securities Corporation or any successor thereto in its capacity as the voting trustee under the Voting Trust Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>written</B>&#148; or &#147;<B>in writing</B>&#148; means any form of written communication, including communication by means of
facsimile or electronic mail. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 1.02. Certain Other Definitions.</B> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Each capitalized term used herein and not otherwise defined herein shall have the meaning provided therefor (including by incorporation by
reference) in the Certificate of Designation. Any day not referred to herein as a Business Day shall mean a calendar day. </FONT></P>
<P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE II </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>PURCHASES AND TRANSFERS, COSTS AND EXPENSES; ADDITIONAL FEE </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 2.01. Commitment to Purchase VMTP Shares.</B> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">On the Closing Date, the Fund will issue and sell and the Purchaser will purchase 1,301 of the VMTP Shares sold on initial issuance in a transaction (which, based upon the representations of the Fund and
the Purchaser herein, is exempt from registration under the Securities Act), by payment of the relevant Purchase Price in immediately available funds to the Fund through the account of its agent at the Securities Depository. In consideration for the
Purchaser&#146;s agreement to purchase the VMTP Shares set forth in the preceding sentence, the Fund agrees to pay the Purchaser on the Closing Date a fee equal to the product of (x)&nbsp;0.0015 and (y)&nbsp;the Purchase Price, which shall be paid
by the Fund in accordance with the wire instructions set forth in Section&nbsp;8.01(b) hereof. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 2.02. Sale of VMTP
Shares. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) The Purchaser agrees that any subsequent offers and sales, without the prior written consent of the Fund, will
be made only to persons it reasonably believes are either (i)&nbsp;QIBs that are registered closed-end management investment companies the shares of which are traded on a national securities exchange (&#147;<B>Closed-End Funds</B>&#148;), banks (and
their direct or indirect wholly-owned subsidiaries), insurance companies, Broker-Dealers, Foreign Entities (and their direct or indirect wholly-owned subsidiaries), companies that are included in the S&amp;P 500 Index (and their direct or indirect
wholly-owned subsidiaries) or registered open-end management investment companies or (ii)&nbsp;tender option bond trusts in which all Beneficial Owners are QIBs that are Closed-End Funds, banks (and their direct or indirect wholly-owned
subsidiaries), insurance companies, Broker-Dealers, Foreign Entities (and </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">6 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
their direct or indirect wholly-owned subsidiaries), companies that are included in the S&amp;P 500 Index (and their direct or indirect wholly-owned subsidiaries) or registered open-end
management investment companies, in each case 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 within the meaning of
Section&nbsp;4(2) of the Securities Act. 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 VMTP Shares
thereafter. Notwithstanding the foregoing, the Fund shall have the right of first refusal in accordance with the Right of First Refusal Procedures on all proposed transfers of Outstanding VMTP Shares from the Purchaser or an Affiliate thereof (other
than an Excluded Transfer) to an unaffiliated third party which will upon settlement result in such unaffiliated third party holding and having purchased directly or indirectly in a series of related transactions (with the actual knowledge of the
Purchaser) from the Purchaser (or the Purchaser&#146;s Affiliates in the aggregate), more than 25% of the Outstanding VMTP Shares; <U>provided</U>, that the foregoing right of first refusal shall not apply to any VMTP Shares sold pursuant to an
underwriting contemplated by Section&nbsp;3.3 of the Registration Rights Agreement; <U>provided</U>, <U>further</U>, that the foregoing right of first refusal shall apply in connection with the transfer from the Purchaser or an Affiliate thereof of
the residual interests in a tender option bond trust or the equity or residual interests of any other entity formed by the Purchaser or the Purchaser&#146;s Affiliates to hold the VMTP Shares that results in the indirect transfer of more than 25% of
the voting rights of the Outstanding VMTP Shares to an unaffiliated third party (other than an Excluded Transfer); <U>provided</U>, <U>further</U>, that in the case of a transfer of a residual interest in a tender options bond trust, the right of
first refusal will apply to the residual interests and not the VMTP Shares. Any transfer in violation of this Section&nbsp;2.02(a) shall be void <I>ab initio</I>. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(b) In connection with the right of first refusal set forth in Section&nbsp;2.02(a), the following procedures shall apply (the &#147;<B>Right of First Refusal Procedures</B>&#148;): </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) the Purchaser shall notify the Fund by Electronic Means of any proposed sales or transfers of VMTP Shares which would
entitle the Fund to exercise its right of first refusal and such notification shall include the type of entity (a banking institution, insurance company, Broker-Dealer, Foreign Entity (and their direct or indirect wholly-owned subsidiaries), company
that is included in the S&amp;P 500 Index (and their direct or indirect wholly-owned subsidiaries), registered open-end management investment companies, tender option bond trust, insurance company or broker-dealer, incorporated or organized under
the laws of a country other than the United States, or a political subdivision of a country other than the United States that is regulated as such by that country&#146;s or subdivision&#146;s government or any agency thereof) of the prospective
transferee, the number of VMTP Shares subject to the proposed transfer and the proposed transfer price; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii)
if the Fund wishes to exercise its right of first refusal, the Purchaser must be notified of such election by the Fund by Electronic Means within three Business Days after delivery of notice from the Purchaser pursuant to subparagraph (i)&nbsp;above
(not counting the day of delivery), and the price to be paid by the Fund with respect to such transfer will be the lesser of the (x)&nbsp;Liquidation Preference plus accrued and unpaid dividends and (y)&nbsp;the proposed transfer price to the
unaffiliated third party, <U>provided</U>, <U>however</U>, the price to be paid by the Fund with respect to any sale of the residual interests in a tender option bond trust or any sale of VMTP Shares by any tender option bond trust to anyone other
than the Purchaser or the Purchaser&#146;s Affiliates shall be at the proposed sale price; </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%;padding-bottom:0px;"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) the exercise of the right of first refusal by the
Fund pursuant to subparagraph (ii)&nbsp;above shall be deemed to be the trade date for the purchase of the VMTP Shares by the Fund from the Purchaser and the sale shall settle within 30 days after such trade date or, if the 30</FONT><FONT
STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> day after such trade date is not a Business Day, then the next
Business Day after such 30</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> day; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) if the Purchaser does not receive an affirmative response from the Fund pursuant to subparagraph (ii)&nbsp;above
within the required time frame, such right of first refusal shall be deemed rejected by the Fund; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(v) any
VMTP Shares purchased by the Fund pursuant to its exercise of the right of first refusal in subparagraph (ii)&nbsp;above shall be cancelled by the Fund within one Business Day after settlement of such purchase to the extent the Fund, together with
the Investment Adviser and accounts or entities over which the Fund or the Investment Adviser exercises discretionary authority, owns or controls in the aggregate more than 25% of the Outstanding VMTP Shares; and </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(vi) all purchases of VMTP Shares pursuant to the Fund&#146;s right of first refusal shall be made only out of legally
available funds for the redemption of shares of the Fund under Applicable Law and the Certificate of Designation and otherwise in accordance with Applicable Law and the Certificate of Designation. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 2.03. Expense Reimbursement.</B> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">On the Closing Date, the Fund shall pay, or cause to be paid, the reasonable fees and expenses of the Purchaser, including the Purchaser&#146;s outside counsel fees and expenses, and for the first year
that the Voting Trust Agreement is in effect, the fees and expenses of the parties thereto in accordance with the terms therein. </FONT></P>
<P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE III </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>CLOSING </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 3.01. Conditions to Closing.</B> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">It shall be a condition to the Fund&#146;s and the Purchaser&#146;s obligations on the Closing Date that each of the following conditions shall have been satisfied or waived as of such date, and, upon
such satisfaction or waiver, this Agreement shall be effective: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) this Agreement shall have been duly executed and
delivered by the parties hereto; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) the VMTP Shares shall have a long-term credit rating of &#147;Aa2&#148; from
Moody&#146;s and a long-term issue credit rating of &#147;AAA&#148; from Fitch on the Closing Date; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) receipt by the
Purchaser of opinions of counsel for the Fund acceptable to the Purchaser in the form of Exhibits A-1 through A-3; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) there
shall have been delivered to the Purchaser such information and copies of documents, approvals (if any) and records, certified where appropriate, of trust and legal proceedings as the Purchaser may have requested relating to the Fund&#146;s entering
into and performing this Agreement and the other Related Documents to which it is a party and the transactions contemplated hereby and thereby; </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">8 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) there shall have been delivered to the Fund such information and copies of documents,
approvals (if any) and records, certified where appropriate, of trust and legal proceedings as the Fund may have requested relating to the Purchaser&#146;s entering into and performing this Agreement and the other Related Documents to which it is a
party and the transactions contemplated hereby and thereby; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(f) receipt by the Purchaser of executed originals or copies of
all Related Documents (other than this Agreement) to which the Fund is a party, as in effect on the Closing Date, and an incumbency certificate with respect to the authorized signatories thereto; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(g) receipt by the Fund of executed originals or copies of all Related Documents (other than this Agreement) to which the Purchaser is a
party, as in effect on the Closing Date, and an incumbency certificate with respect to the authorized signatories thereto; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(h) receipt by the Fund and the Purchaser of the Information Statement in form and substance satisfactory to the Fund and the Purchaser;
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) the reasonable fees and expenses and all other amounts (including reasonable attorneys&#146; fees and expenses related to
the issuance of the VMTP Shares) payable on the Closing Date pursuant to Section&nbsp;2.03 hereof shall have been paid; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(j)
receipt by the Fund and the Purchaser of an opinion of counsel of the Redemption and Paying Agent in the form attached hereto as Exhibit A-4; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(k) except as disclosed in the Information Statement or in Schedule II hereto, there shall not be any action, suit, proceeding or investigation pending or (to the knowledge of the Fund) overtly threatened
in writing against the Fund in any court or before any arbitrator or governmental authority which, in the good faith judgment of the party invoking this condition, (i)&nbsp;is in any way contesting or, if decided adversely, would affect the validity
of this Agreement or of any other Related Document to which the Fund is a party, or (ii)&nbsp;if the subject of a final adverse decision would materially adversely affect provisions for or materially adversely affect the sources for payment of
liquidation preference of or dividends on the VMTP Shares; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(l) receipt by the Purchaser of copies of all ISDA documentation
to which the Fund is a party; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(m) in the good faith judgment of the party invoking this condition, no change in law, rule or
regulation (or their interpretation or administration) shall have occurred as of the date of this Agreement which will materially and adversely affect the consummation of the transaction contemplated by this Agreement; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(n) receipt by the Purchaser of final credit and transaction approval from RBC Capital Markets, LLC; and </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(o) there shall have been delivered to the Purchaser any additional documentation and financial information, including satisfactory
responses to its due diligence inquiries, as it reasonably deems relevant. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">9 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Fund 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. </FONT></P>
<P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE IV </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>REPRESENTATIONS AND WARRANTIES OF THE FUND </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The representations and warranties set out in this Article IV are given hereunder by the Fund to the Purchaser on the Closing Date. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 4.01. Existence.</B> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Fund is validly existing as a business trust under the laws of the Commonwealth of Pennsylvania, with requisite power to issue 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. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 4.02. Authorization; Contravention.</B>
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The execution, delivery and performance by the Fund of this Agreement and each other Related Document to which it is a party
are within the Fund&#146;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 Fund or result in the creation or
imposition of any lien or encumbrance on any asset of the Fund, except as contemplated by the Information Statement or Related Documents and except for such violations or contraventions which would not have a material adverse effect on the Fund or
its ability to perform its obligations under the Related Documents to which it is a party. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 4.03. Binding
Effect.</B> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This Agreement, the Registration Rights Agreement and, if executed and delivered on the date this representation
is made, the Redemption and Paying Agent Agreement, constitute valid and binding agreements of the Fund or, if not yet executed and delivered, will, when executed and delivered, constitute valid and binding agreements of the Fund, in each case
enforceable in accordance with their respective terms except as (i)&nbsp;the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditors&#146; rights generally and (ii)&nbsp;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. The VMTP
Shares have been duly authorized and, when issued upon payment therefor by the Purchaser as contemplated in this Agreement, will be validly issued by the Fund and fully paid and nonassessable and free of any preemptive or similar rights. </FONT></P>

 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">10 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 4.04. Financial Information.</B> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The publicly available financial statements of the Fund as of its most recent fiscal year-end, and the auditors&#146; report with respect
thereto, copies of which have heretofore been furnished to the Purchaser, present fairly, in all material respects, the financial position of the Fund at such date and for such period, in conformity with accounting principles generally accepted in
the United States of America. The audits of these statements were conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States). Since the date of such financial statements, except as contemplated by the
Information Statement, no transaction or event has occurred and no change has occurred in the condition (financial or otherwise) or operations of the Fund that would materially and adversely affect the Fund&#146;s ability to complete the issuance of
any of the VMTP Shares or the Fund&#146;s ability to perform its obligations under this Agreement, any of the VMTP Shares and the other Related Documents to which it is a party. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 4.05. Litigation.</B> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Except as disclosed in the Information Statement or in Schedule II hereto, there is no action, suit, proceeding or investigation pending or (to the best knowledge of the Fund) overtly threatened in
writing against the Fund in any court or before any arbitrator or governmental authority. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 4.06. Consents.</B>
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">All consents, licenses, approvals, validations and authorizations of, and registrations, validations or declarations by or
with, any court or any regulatory, supervisory or governmental agency, bureau or agency required to be obtained by the Fund in connection with the execution, delivery, performance, validity or enforceability of this Agreement and the other Related
Documents (including the VMTP Shares) to which the Fund is or will be party have been obtained and are in full force and effect, except for those which the failure to obtain or maintain in full force and effect should not reasonably be expected to
materially and adversely affect the Fund&#146;s ability to comply with the Certificate of Designation or the other Related Documents to which it is a party. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 4.07. Information Statement.</B> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Information Statement (including
any amendments or supplements prepared subsequent to its date), a true copy of which, in each case, has been furnished to the Purchaser, and the documents furnished and written statements made by the Fund in connection with the preparation or
execution of this Agreement and the other Related Documents to which it is a party when considered together with the Information Statement, do not contain any untrue statement of material fact or omit to state a material fact necessary to make the
statements therein, in the light of the circumstances under which made, not misleading. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 4.08. Offering of VMTP
Shares.</B> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Assuming the accuracy of the representations and warranties of the Purchaser in Sections 5.07 and 5.08 hereof, no
registration of the VMTP Shares under the Securities Act is required for the offer and sale of the VMTP Shares in the manner contemplated by this Agreement and the Information Statement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As of the Closing 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&nbsp;6 of the Exchange Act or quoted in a U.S. automated
inter-dealer quotation system. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">11 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Fund has not distributed any offering material in connection with the offering and sale
of the VMTP Shares other than to the Purchaser or its representatives. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 4.09. Complete and Correct Information.
</B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">All written information, written reports and other papers and written data prepared by the Fund and furnished to the
Purchaser in connection with its purchase of the VMTP Shares, at the time the same were prepared, accurately set forth the information purported to be included therein in all material respects when taken together as a whole with the Information
Statement and did not materially misrepresent the financial position, operations or prospects of the Fund. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 4.10.
1940 Act Registration. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Fund is duly registered as a closed-end management investment company under the 1940 Act and
such registration is in full force and effect. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 4.11. Effective Leverage Ratio; Minimum Asset Coverage.
</B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As of the Closing Date, the Fund is in compliance with the Effective Leverage Ratio and the Minimum Asset Coverage as
required by the Certificate of Designation, based on the Fund&#146;s financial position as of May&nbsp;8, 2012, as calculated on Schedule III. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 4.12. Investment Policies. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As of the Closing Date, the Fund is in
compliance with Section&nbsp;6(c) of the Certificate of Designation. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 4.13. Credit Quality. </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As of the Closing Date, the Fund is in compliance with Section&nbsp;6(d) of the Certificate of Designation. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 4.14. Due Diligence. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Fund understands that nothing in this Agreement, the Information Statement, or any other materials presented to the Fund in connection with the purchase and sale of the VMTP Shares constitutes legal,
tax or investment advice from the Purchaser. The Fund 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. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 4.15. Intent to Issue Equity. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">It is the intent and understanding of the Fund that the VMTP Shares constitute shares of the Fund under the laws of the Commonwealth of Massachusetts and that all distributions on or with respect to the
VMTP Shares (whether in the form of dividends, redemption payments, liquidation proceeds or otherwise) shall be subject to the restrictions and limitations applicable to distributions on or with respect to corporate stock under the laws of the
Commonwealth of Massachusetts. All negotiations between the Purchaser (or any of its Affiliates) and the Fund regarding the VMTP Shares have been consistent with such intent and understanding. The Fund agrees to treat the VMTP Shares as equity of
the Fund for all U.S. federal, state, and local income and other tax purposes. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">12 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE V </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>REPRESENTATIONS AND WARRANTIES OF THE PURCHASER </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The representations and
warranties set out in this Article V are given hereunder by the Purchaser to the Fund on the Closing Date. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 5.01.
Existence. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Purchaser is duly organized and validly existing and in good standing as a Minnesota limited liability
company. The Purchaser has all requisite power and authority to execute and deliver, and to perform its obligations under this Agreement and each other Related Document to which it is a party. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 5.02. Authorization; Contravention. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">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&#146;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 Purchaser, except for such violations or contraventions which would not have a material adverse effect on
the Purchaser or its ability to perform its obligations under the Related Documents to which it is a party. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 5.03.
Binding Effect. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Each of this Agreement, the Registration Rights Agreement and the Voting Trust Agreement, constitutes a
valid and binding agreement of the Purchaser, enforceable in accordance with its terms except as (i)&nbsp;the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditors&#146; rights generally and
(ii)&nbsp;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. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 5.04. Consents. </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">All consents, licenses, approvals, validations and authorizations of, and registrations, validations or declarations by or with, any court
or any regulatory, supervisory or governmental agency, bureau or agency required to be obtained by the Purchaser in connection with the performance of the Purchaser or the execution, delivery, performance or the validity or enforceability of this
Agreement and the other Related Documents to which the Purchaser is a party and the purchase of the VMTP Shares have been obtained and are in full force and effect, except for those which the failure to obtain or maintain in full force and effect
should not reasonably be expected to materially and adversely affect the Purchaser&#146;s ability to comply with this Agreement or the other Related Documents to which it is a party. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 5.05. Due Diligence. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Purchaser understands that nothing in this Agreement, the Information Statement, 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 Fund. 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.
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">13 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 5.06. Intent to Purchase Equity. </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">It is the intent and understanding of the Purchaser that the VMTP Shares constitute shares of the Fund under the laws of the Commonwealth
of Massachusetts and that all distributions on or with respect to the VMTP Shares (whether in the form of dividends, redemption payments, liquidation proceeds or otherwise) shall be subject to the restrictions and limitations applicable to
distributions on or with respect to corporate stock under the laws of the Commonwealth of Massachusetts. All negotiations between the Purchaser (or any of its Affiliates) and the Fund regarding the VMTP Shares have been consistent with such intent
and understanding. The Purchaser agrees to treat the VMTP Shares as equity of the Fund for all U.S. federal, state, and local income and other tax purposes. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 5.07. Investment Purpose. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Purchaser is purchasing the VMTP
Shares for its own account for investment purposes only and not with any view toward a resale or distribution thereof, except for a resale in connection with any transfer to a tender option bond trust as permitted by Section&nbsp;2.02 of this
Agreement. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 5.08. Underwriter Status. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Purchaser has no contract, undertaking, agreement or arrangement with any Person to sell, transfer or pledge to such Person or anyone else any of the VMTP Shares, and the Purchaser has no present
plans to enter into any such contract, undertaking, agreement or arrangement, except in connection with any transfer to an Affiliate for a subsequent transfer to a tender option bond trust as permitted by Section&nbsp;2.02 of this Agreement.
</FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE VI </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>COVENANTS OF THE FUND </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Fund agrees that, so long as there is any
amount payable hereunder or the Purchaser owns any outstanding VMTP Shares at any time prior to the registration of VMTP Shares pursuant to the Registration Rights Agreement: </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 6.01. Future Agreements. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Unless advised in a legal opinion of
nationally recognized counsel that entry into such an agreement would violate Applicable Law or the fiduciary duties of the Board of Trustees, the Fund shall, promptly upon the request of the Purchaser, enter into an agreement, complying with
Applicable Law, satisfying Section&nbsp;12(d)(1)(E)(iii) of the 1940 Act as agreed to by the Fund and such tender option bond trust in their commercially reasonable discretion upon any transfer of the VMTP Shares to a tender option bond trust.
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">14 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 6.02. No Setoff. </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">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 Fund within 15 days of the request for such payment having been sent to the Fund, unless such request for payment is contested by the Fund in good faith. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 6.03. Merger Expenses. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Fund agrees to reimburse the Purchaser and its Affiliates for all reasonable out-of-pocket fees and expenses incurred by the Purchaser in connection with the Purchaser&#146;s consent to the Merger,
including the Purchasers&#146; reasonable outside counsel fees and expenses incurred in connection therewith. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION
6.04. Tax Opinion. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Fund shall deliver as soon as possible after the Closing Date, but in any event no later than
May&nbsp;16, 2012, (i)&nbsp;a supplement to the Information Statement disclosing in substance that, subject to customary qualifications set forth in such supplement, distributions from the Fund that are derived from interest on obligations of the
Commonwealth of Pennsylvania and its political subdivisions (which in the opinion of bond counsel or other counsel to the issuers of such obligations is exempt from Pennsylvania personal income taxes), from direct obligations of the United States,
or from certain qualifying obligations of United States territories and possessions, (collectively &#147;<B>Pennsylvania State-Specific Obligations</B>&#148;) will be exempt from the Pennsylvania personal income tax; however, distributions
attributable to capital gains derived by the Fund as well as distributions derived from investments other than Pennsylvania State-Specific Obligations will be taxable for Pennsylvania personal income tax purposes; and distributions derived from
interest on obligations that are merely backed or guaranteed by the U.S. Government (e.g., GNMAs, FNMAs), or on repurchase agreements collateralized by U.S. Government securities, are not exempt from the Pennsylvania personal income tax, and
(ii)&nbsp;an opinion of outside counsel to the Fund substantially to the effect that such discussion constitutes, in all material respects, a fair and accurate summary of the Pennsylvania income tax consequences described in such discussion, subject
to the qualifications set forth in the Information Statement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In the event the opinion referred to in clause (ii)&nbsp;of the
immediately preceding paragraph is not delivered to the Purchaser on or before May&nbsp;16, 2012, the Fund shall pay each Beneficial Owner a supplemental monthly fee payable in arrears on each Dividend Payment Date equal to (A)&nbsp;the product of
(x)&nbsp;0.02, (y)&nbsp;the Purchase Price and (z)&nbsp;the actual number of days in such month that the opinion has not been delivered divided by 360 multiplied by (B)&nbsp;the percentage of the Fund&#146;s Outstanding VMTP Shares owned by such
Beneficial Owner. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 6.05. Tax Reporting. </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Whenever the Fund intends or expects to include in any dividend on VMTP Shares any amount that is not a Pennsylvania exempt-interest
dividend, the Fund shall use its best efforts to notify, or cause the Redemption and Paying Agent to notify, the Beneficial Owners in writing of such amount (i)&nbsp;not later than 14 calendar days preceding the first Rate Determination Date on
which the Applicable Rate for such dividend is to be established, and (ii)&nbsp;for any successive Rate Determination Date on which the Applicable Rate for such dividend is to be established, not later than the close of business on the immediately
preceding Rate Determination Date; <U>provided</U>, <U>however</U>, that if such information is not known before the dates specified in clauses (i)&nbsp;or (ii), the Fund shall notify the Beneficial Owners (or at a Beneficial Owner&#146;s direction,
the Redemption and Paying Agent) of such information as soon thereafter as is commercially feasible. With respect to a Rate Period for which such advance notice was given and whose dividends are comprised partly of such income and partly of
Pennsylvania exempt-interest income, the different types of income will be paid in the same relative proportions for each day during the Rate Period. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">15 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE VII </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>COVENANTS OF THE PURCHASER </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 7.01. Voting Rights.</B>
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As of the Closing Date, and for so long as the Purchaser together with any of its Affiliates individually or in the aggregate
own at least 20% of the Outstanding VMTP Shares and the Fund has not failed to pay dividends on the VMTP Shares for two years, the Purchaser shall enter into and maintain in full force and effect a Voting Trust Agreement in substantially the form
attached hereto as Exhibit B-2 and thereby convey into the voting trust, governed by the Voting Trust Agreement, the right to vote all of its VMTP Shares acquired on the Closing Date or any time thereafter and so owned with respect to: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) the election of the two members of the Board of Trustees for which Holders of VMTP Shares are exclusively entitled to vote under
Section&nbsp;18(a)(2)(C) of the 1940 Act and all other rights given to Holders of VMTP Shares with respect to the election of the Board of Trustees of the Fund; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(b) the conversion of the Fund from a closed-end management investment company to an open-end fund, or to change the Fund&#146;s classification from diversified to non-diversified, each pursuant to
Section&nbsp;13(a)(1) of the 1940 Act (any of the foregoing, a &#147;<B>Conversion</B>&#148;), together with any additional voting or consent right under the Certificate of Designation that relates solely to any action or amendment to the
Certificate of Designation 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; <U>provided</U> 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; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) the deviation from a policy in respect of concentration of investments in any particular industry or group of industries as recited
in the Fund&#146;s registration statement, pursuant to Section&nbsp;13(a)(3) of the 1940 Act (a &#147;<B>Deviation</B>&#148;), together with any additional voting or consent right under the Certificate of Designation that relates solely to any
action or amendment to the Certificate of Designation 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; <U>provided</U> 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; and </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">16 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) 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 Fund&#146;s registration statement, pursuant to Section&nbsp;13(a)(2) of the
1940 Act (and of the foregoing, a &#147;<B>Policy Change</B>&#148;), together with any additional voting or consent right under the Certificate of Designation that relates solely to any action or amendment to the Certificate of Designation 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; <U>provided</U> 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. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Each voting right set forth in clauses (a)&nbsp;through (d)&nbsp;above is referred to herein as a &#147;<B>Voting Right</B>&#148;. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">At all times that Voting Rights are subject to the Voting Trust Agreement, the Purchaser or its Affiliate or designee will be the registered owner of the VMTP Shares. If any dividend or other distribution
in respect of the Subject Shares is paid, such dividend or distribution will be paid directly to the Purchaser or its Affiliate or designee owning such Subject Shares; provided that any Additional Shares will become part of the Subject Shares
covered by the Voting Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Voting Rights of the Purchaser and its Affiliates shall remain subject to the
Voting Trust Agreement for so long as the Purchaser and its Affiliates collectively are the Beneficial Owners in the aggregate of 20% or more of the Outstanding VMTP Shares. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">At all times that the Voting Rights are subject to the Voting Trust Agreement, the Purchaser shall irrevocably appoint and constitute, and shall cause each of its Affiliates that are Beneficial Owners of
any Subject Shares to irrevocably appoint and constitute, the Voting Trustee as its attorney-in-fact and agrees, and agrees to cause each of such Affiliates, to grant the Voting Trustee one or more irrevocable proxies with respect to the Voting
Rights and further agrees, and agrees to cause each of such Affiliates, to renew any such proxies that may lapse by their terms while the Subject Shares are still subject to the Voting Trust Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Notwithstanding the above provisions of this Section&nbsp;7.01, upon the transfer of VMTP Shares by the Purchaser to any third party
(other than a transfer to an Affiliate of the Purchaser, in which case such VMTP Shares shall remain subject to the Voting Trust Agreement), such VMTP Shares shall no longer be subject to the Voting Trust Agreement; <U>provided</U>, <U>however</U>,
that in connection with an Excluded Transfer: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) of the type specified in clause (1)&nbsp;of the definition
of Excluded Transfer, the VMTP Shares shall remain subject to the Voting Trust Agreement until such time as the Fund, upon the request of the Purchaser, enters into a voting arrangement satisfying Section&nbsp;12(d)(1)(E)(iii) of the 1940 Act;
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) of the type specified in clauses (3)&nbsp;or (4)&nbsp;of the definition of Excluded Transfer, to the
extent the Purchaser retains the right to vote or direct voting in connection with such transactions, the VMTP Shares shall remain subject to the Voting Trust Agreement until such time as there is a default by the Purchaser under such repurchase
transaction or collateral pledge arrangement; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) of the type specified in clauses (3)&nbsp;or
(4)&nbsp;of the definition of Excluded Transfer, to the extent the Purchaser does not retain the right to vote or direct voting of such VMTP Shares in such transactions, such transactions do not permit the removal of the VMTP Shares&#146; rights
transferred to the Voting Trust from the Voting Trust Agreement within the first 60 days of closing of such transferee becoming the Beneficial Owner of such VMTP Shares unless there is a default by the Purchaser under such repurchase transaction or
collateral pledge arrangement. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">17 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Without the prior written consent of the Fund (in its sole discretion), the Purchaser will
not agree or consent to any amendment, supplement, modification or repeal of the Voting Trust Agreement, nor waive any provision thereof; <U>provided</U> that, in the case of any proposed amendment, supplement, modification or repeal of the Voting
Trust Agreement which is a result of a change in law or regulation, the consent of the Fund shall not be unreasonably withheld or delayed. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 7.02. Tax Treatment. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Purchaser agrees to treat the VMTP Shares
as equity of the Fund for all U.S. federal, state and local income and other tax purposes. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 7.03. Prior Consent.
</B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Purchaser agrees that any prior consent of the Purchaser, in its capacity as a Holder of VMTP Shares, with respect to
the Merger will not be unreasonably withheld, <U>provided</U> that: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) the Fund has satisfied all of its obligations set
forth in the Related Documents (including, without limitation, satisfaction of the Effective Leverage Ratio and Minimum Asset Coverage covenants set forth in the Certificate of Designation of the Fund as in effect on the Closing Date) immediately
prior to the Merger and the Acquiring Fund has satisfied its obligations under its respective purchase agreement, agreement and declaration of trust, certificate of designation, registration rights agreement and VMTP shares (including, without
limitation, satisfaction of the Effective Leverage Ratio and Minimum Asset Coverage covenants set forth in the Certificate of Designation of the Acquiring Fund as in effect on the Closing Date) immediately prior to the Merger and the obligations of
the Acquiring Fund under its respective purchase agreement, agreement and declaration of trust, certificate of designation, registration rights agreement and VMTP shares will be satisfied immediately after the completion of any such Merger;
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) the declaration of trust of the Acquiring Fund shall be identical to the terms set forth in the Form of Acquiring Fund
Declaration of Trust attached hereto as Exhibit B-6, except as may otherwise be agreed to by the parties hereto in their good faith discretion; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(c) the by-laws of the Acquiring Fund shall be identical to the terms set forth in the Form of Acquiring Fund By-Laws attached hereto as Exhibit B-7, except as may otherwise be agreed to by the parties
hereto in their good faith discretion; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) the terms of the new VMTP shares issued by the Acquiring Fund in connection with
the Merger shall be identical to the terms of the VMTP shares of the Acquiring Fund set forth in the Form of Acquiring Fund Statement of Preferences attached hereto as Exhibit B-8, except as may otherwise be agreed to by the parties hereto in their
good faith discretion; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) following completion of the transactions contemplated in Section&nbsp;2.01 of this Agreement and
of each other purchase agreement being entered into by each fund that will be acquired by the Acquiring Fund in connection with the Merger, the Purchaser or an Affiliate thereof will own 100% of the Outstanding VMTP shares of the Acquiring Fund and
each fund being acquired by the Acquiring Fund in connection with the Merger; </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">18 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(f) immediately prior to, and upon completion of any Merger, the rating of the Acquiring
Fund by each Rating Agency rating, at the request of any such fund, the VMTP shares of the Acquiring Fund and any other fund involved in the Merger, shall be at least AA-/Aa3; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(g) the completion of any such Merger shall occur on or prior to December&nbsp;31, 2012; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(h) the disclosure document distributed to shareholders of the Fund in connection with the Merger will disclose in substance (i)&nbsp;that the Merger will be a &#147;reorganization&#148; within the
meaning of Section&nbsp;368 of the Code, and (ii)&nbsp;that the VMTP Shares of the surviving fund acquired by former shareholders of the target fund pursuant to the Merger will be treated as equity of the acquiring fund for U.S. federal income tax
purposes; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) it will be a condition to closing of the Merger that nationally recognized tax counsel shall deliver an
opinion to the Fund substantially to the effect of clauses (i)&nbsp;and (ii)&nbsp;of Section&nbsp;7.03(h), although the same tax counsel need not deliver both opinions. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE VIII </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>MISCELLANEOUS </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 8.01. Notices.</B> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">All notices, requests and other communications to any party hereunder shall be in writing (including facsimile, 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 facsimile number or email address set forth below or such other address or facsimile number or email address as such party may hereafter specify for the purpose
by notice to the other party. Each such notice, request or other communication shall be effective (i)&nbsp;if given by mail, five days after such communication is deposited in the mails, registered mail, return receipt requested, addressed as
aforesaid, or (ii)&nbsp;if given by any other means, when delivered at the address specified in this Section; <U>provided</U> that, except as otherwise specified, notices under the Certificate of Designation 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 Fund, to receive such notice), immediately confirmed in writing, including by facsimile or electronic
mail. The notice address for each party is specified below: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">if to the Fund: </FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Invesco Van
Kampen Pennsylvania Value Municipal Income Trust </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">11 Greenway Plaza, Suite 2500 </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Houston, TX 77046 </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attention: &nbsp;&nbsp;&nbsp;&nbsp;John Zerr, General Counsel </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Telephone:&nbsp;&nbsp;&nbsp;(713) 214-1191 </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Facsimile:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(713) 993-9185 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Email: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;John.Zerr@Invesco.com </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">19 </FONT></P>



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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">if to the Purchaser: </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="90%"></TD></TR>


<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Capital Markets, LLC</FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Three World Financial Center, 8th Floor</FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Vesey Street</FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, NY 10281-8098</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attention:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Andrew Sanford / Ann Carr</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Telephone:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">(212) 618-3227 / (212) 437-2496</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Facsimile:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">(212) 618-3296</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Email:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>andrew.sanford@rbccm.com / ann.carr@rbccm.com</U></FONT></TD></TR>
<TR>
<TD HEIGHT="8" COLSPAN="3"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Capital Markets, LLC</FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Three World Financial Center, 12th Floor</FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Vesey Street</FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, NY 10281-8098</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attention:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Jake Sigmund</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Telephone:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">(212) 428-7925</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Facsimile:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">(212) 428-6201</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Email:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">jake.sigmund@rbccm.com</FONT></TD></TR>
<TR>
<TD HEIGHT="8" COLSPAN="3"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada</FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">12th Floor, South Tower</FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank Plaza</FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">200 Bay Street</FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Toronto, Ontario M5J2W7</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attention:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">CTM, Yvonne Ling / Carolina Torres</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Telephone:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">(416) 842-3932 / (416) 842-4021</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Facsimile:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">(416) 842-4020</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Email:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>yvonne.ling@rbccm.com</U> / carolina.torres@rbccm.com</FONT></TD></TR></TABLE></DIV>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="89%"></TD></TR>

<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Wire Instructions:</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Wire:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">U.S. Bank, Minneapolis, MN</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">ABA:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">091000022</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Acct #:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">160230097208</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Acct&nbsp;Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Capital Markets Corp.</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">FFC:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">MPI, Account #10107441</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Ref:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Invesco VMTP</FONT></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 8.02. No Waivers.</B> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) The obligations of the Fund hereunder shall not in any way be modified or limited by reference to any other document, instrument or
agreement (including, without limitation, any other Related Document) other than the Certificate of Designation and the VMTP Shares. The rights of the Purchaser hereunder are separate from and in addition to any rights that any Holder or Beneficial
Owner of any VMTP Shares may have under the terms of such VMTP Shares or any Related Document or otherwise. In the event of an irreconcilable conflict between the terms hereof and the terms of the Certificate of Designation or the VMTP Shares, the
terms of the Certificate of Designation shall govern. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) No failure or delay by the Fund or the Purchaser in exercising any
right, power or privilege hereunder or under any other Related Documents or 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. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">20 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">No failure or delay by the Fund 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 Fund or the Purchaser hereunder or thereunder or shall operate as a limitation or waiver thereof. The rights and remedies herein provided
shall be cumulative and not exclusive of any rights or remedies provided by law. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 8.03. Expenses and
Indemnification. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) The Fund shall reimburse the Purchaser (to the extent that payments for the following items are not
made or addressed under the other provisions hereof) for the reasonable fees, expenses, and disbursements of the Purchaser (including reasonable fees and costs of outside counsel) incurred by the Purchaser in connection with the execution, delivery
and performance of this Agreement and the execution and delivery of the other Related Documents. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) Except as otherwise
provided herein, the Fund agrees to indemnify and hold harmless the Purchaser and each other Indemnified Person of the Purchaser from and against any losses, claims, damages, liabilities or expenses incurred by them (including reasonable fees and
disbursements of outside counsel) (&#147;<B>Expenses</B>&#148;) which are related to or arise out of the defense of any lawsuit, action, claim, threat or demand by any Common Share holders or their representatives or any other Person acting on
behalf of such Common Share holders or their representatives in connection with the Purchaser&#146;s execution and performance of this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Notwithstanding anything herein to the contrary, the Fund shall not be liable for, and no Indemnified Person shall be entitled to indemnification or contribution under this Section&nbsp;8.03 for,
(1)&nbsp;any Expenses arising by reason of such Indemnified Person&#146;s (i)&nbsp;willful misfeasance, (ii)&nbsp;bad faith or (iii)&nbsp;gross negligence, (2)&nbsp;any consequential, punitive, special or speculative losses, damages or expenses
incurred or suffered by any Indemnified Person as a result of the transactions contemplated by this Agreement, including any opportunity cost of capital, such as the loss of anticipated or disgorgement of previously received dividends, interest,
capital gains or any other profit or gain from any investment opportunity or activity foregone by such Indemnified Person as a result of the transactions contemplated by this Agreement or (3)&nbsp;any alleged loss incurred as a result of the
Fund&#146;s failure to pay any amount on or with respect to the VMTP Shares (whether dividends, redemption payments, liquidation proceeds or otherwise) due to the lack of funds legally available therefor under Applicable Law or the Certificate of
Designation or because of any other restrictions under Applicable Law or the Certificate of Designation on such payments. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c)
The Fund 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 in respect of any losses, claims, damages or
liabilities (or actions in respect thereof) for which they are entitled to indemnification pursuant to Section&nbsp;8.03(b), then the Fund, in order to provide for just and equitable contribution, shall contribute to the amount paid or payable by
each such Indemnified Person as a result of such Expenses in such proportion as is appropriate to reflect (i)&nbsp;the relative benefits received by the Fund 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)&nbsp;if the allocation provided by the foregoing clause (i)&nbsp;is not permitted by applicable law, not only such relative benefits but also the relative fault of the Fund on the
one hand and the Purchaser on the other, giving rise to such Expenses, as well as any other relevant equitable considerations; <U>provided</U> that in any event the aggregate contribution of the Purchaser and its Indemnified Persons to all Expenses
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">21 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
with respect to which contributions are available hereunder will not exceed the amount of dividends actually received by the Purchaser from the Fund pursuant to the proposed transactions giving
rise to this Agreement. For purposes of determining the relative benefits to the Fund 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)&nbsp;the total proceeds received or proposed to be received by the Fund pursuant to the transactions, whether or not consummated, for which the Purchaser is purchasing VMTP Shares bears to (ii)&nbsp;the dividends
paid by the Fund or on the Fund&#146;s behalf to the Purchaser in connection with the proposed transactions giving rise to or contemplated by this Agreement. 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. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) If an Indemnified Person is named as a defendant in any action, suit, proceeding or investigation as to
which the Indemnified Person proposes to demand indemnification hereunder, it shall notify the Fund with reasonable promptness; <U>provided</U>, <U>however</U>, that any failure by such Indemnified Person to notify the Fund shall not relieve the
Fund from its obligations hereunder (except to the extent that the Fund is materially prejudiced by such failure to promptly notify). The Fund 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. 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)&nbsp;the Fund has failed promptly to assume the defense and employ counsel reasonably satisfactory to the Indemnified Person in accordance with the preceding sentence or (ii)&nbsp;the Indemnified Person shall have been
advised by counsel that there exist actual or potential conflicting interests between the Fund 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 Fund; <U>provided</U>, <U>howeve</U>r, that the Fund 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; and such counsel shall, to the extent consistent with its professional responsibilities, cooperate with the Fund and any
counsel designated by the Fund. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Each party further agrees that it will not, without the prior written consent of the other
party, 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 each other Indemnified Person from all liability and obligations arising therefrom. The Fund further agrees
that neither the Purchaser, nor any of its 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 Fund arising out of or in
connection with the proposed transactions giving rise to or contemplated by this Agreement. No party shall be responsible or liable to the other party or any other Person for consequential, special or punitive damages which may be alleged as a
result of this Agreement. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">22 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) Nothing in this Section&nbsp;8.03 is intended to limit any party&#146;s obligations
contained in other parts of this Agreement or the VMTP Shares. Neither the Fund nor the Purchaser will refer to the other in any materials used in marketing the VMTP Shares other than the Information Statement without the prior written consent of
the other. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 8.04. Amendments and Waivers. </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">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 Purchaser. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 8.05. Successors and Assigns. </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns. Neither party hereto may assign or otherwise transfer any of its rights under this Agreement, by operation of law or otherwise, without the prior written consent of the other party; <U>provided</U> that the Purchaser hereby consents to the
assignment of this Agreement by the Fund to the Acquiring Fund in connection with any Merger of the Fund consented to by the Purchaser in accordance with Section&nbsp;7.03. Any assignment without such prior written consent shall be void. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 8.06. Term of this Agreement. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">This Agreement shall terminate on the earlier of (i)&nbsp;the date upon which the Purchaser is the Beneficial Owner of no VMTP Shares, provided that the Purchaser shall be deemed to be the Beneficial
Owner of any VMTP Shares transferred in connection with clauses (1), (3), (4)&nbsp;or (6)&nbsp;of the definition of Excluded Transfer, (ii)&nbsp;the registration of any Outstanding VMTP Shares under the Securities Act and (iii)&nbsp;payment in full
of all amounts owing to the Purchaser hereunder and under the VMTP Shares; and notwithstanding any termination of this Agreement, the notice requirement of Section&nbsp;7.01, Section&nbsp;7.03, Section&nbsp;8.03, Section&nbsp;8.05,
Section&nbsp;8.07, Section&nbsp;8.08, Section&nbsp;8.10, Section&nbsp;8.11 and Section&nbsp;8.13 (for a period of one year after the termination of this Agreement) shall remain in full force and effect. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 8.07. Governing Law. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">This Agreement shall be construed in accordance with and governed by the domestic law of the State of New York. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">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, BOROUGH OF MANHATTAN, IN CONNECTION WITH ANY DISPUTE RELATED TO
THIS AGREEMENT OR ANY MATTERS CONTEMPLATED HEREBY. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 8.08. Waiver. </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Fund and the Purchaser 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. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 8.09.
Counterparts. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">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. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">23 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 8.10. Beneficiaries. </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This Agreement is not intended and shall not be construed to confer upon any Person other than the parties hereto, the Indemnified Persons
and their successors and permitted assigns any rights or remedies hereunder. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 8.11. Entire Agreement.
</B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">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. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 8.12. Severability. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">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. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 8.13. Confidentiality. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">All information, whether oral, written, via computer disk or electronic media or otherwise, to which a party is given access or which is made available to it by the other party (including by such other
party&#146;s agents and representatives) in connection with the transactions contemplated by this Agreement or any other Related Document is referred to as &#147;<B>Confidential Information</B>&#148;. Confidential Information shall include, without
limitation, all technology, processes, trade secrets, contracts, proprietary information, portfolio information, historical and projected financial information, operating data and organizational cost structures, strategic or management plans,
customer information and customer lists, whether received before or after the date hereof. Confidential Information shall also include information of or relating to any parent, subsidiary or Affiliate of a party. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Each party agrees to hold all Confidential Information in confidence, that it will not disclose any Confidential Information to any
Person, other than directors, officers, employees, agents or representatives (including those of a legal nature) or prospective purchasers of VMTP Shares or interests therein that have agreed to keep such information confidential (collectively, the
&#147;<B>Representatives</B>&#148;) who have a need to know such information in connection with the transactions contemplated by this Agreement or any other Related Document (the &#147;<B>Transactions</B>&#148;), and that it will not use any such
Confidential Information for purposes other than in connection with the Transactions. For the avoidance of doubt, any Rating Agency rating the VMTP Shares at the request of the Fund shall not be deemed to be a Representative for purposes of this
Section&nbsp;8.13 and will not be subject to the obligations of this Section&nbsp;8.13. Each party agrees to inform its Representatives of the confidential and valuable nature of the Confidential Information and of its obligations under this
Section&nbsp;8.13. Each party shall be responsible and liable for any breach of this Section&nbsp;8.13 by its Representatives. Each party agrees to use reasonable care and implement reasonable controls, but in all events at least the same degree of
care and controls that it uses to protect its own confidential and proprietary information of similar importance, to prevent the unauthorized use, disclosure or availability of Confidential Information. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">24 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">It is understood and agreed that no information shall be within the protection of this
Section&nbsp;8.13 where such information: (a)&nbsp;is or becomes publicly available through no breach of this Section&nbsp;8.13 by either party or its Representatives, (b)&nbsp;is authorized to be released by the disclosing party, (c)&nbsp;is
rightly obtained from a third party, who, to the receiving party&#146;s knowledge, is not under obligation of confidentiality, (d)&nbsp;is required to be disclosed as a matter of law, regulation or industry best practice or legal process or
(e)&nbsp;is made available to any regulatory body. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In the event that either party to this Agreement or any of its
Representatives becomes legally compelled (by deposition, interrogatory, request for documents, subpoena, regulatory request or demand, civil investigative demand or similar process (&#147;<B>Legal Process</B>&#148;)) to disclose any of the
Confidential Information, such party may disclose such Confidential Information to the extent legally required; <U>provided</U>, <U>however</U>, that the Purchaser shall, to the extent permitted by law, rule and regulation and reasonably
practicable, notify the Fund prior to such disclosure by the Purchaser so that the Fund may seek, at the Fund&#146;s expense, a protective order or other appropriate remedy; <U>provided</U>, <U>further</U>, that the Purchaser will have no liability
to the Fund for failure to provide such notice. In the absence of such protective order, other remedy or waiver by the Fund, the Purchaser may disclose such Confidential Information to the extent legally required. Notwithstanding anything to the
contrary contained herein, either party and its Affiliates may disclose Confidential Information, without notice to the other party, to any governmental agency, regulatory authority or self-regulatory authority (including, without limitation, bank
and securities examiners) having or claiming to have authority to regulate or oversee any aspect of such party&#146;s business or that of its Affiliates in connection with the exercise of such authority or claimed authority. Nothing herein shall
require a party to fail to honor any Legal Process on a timely basis. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In the event that this Agreement is terminated, or at
any time upon request, each party agrees to return promptly or destroy all copies of the Confidential Information without retaining any copies thereof and to destroy all copies of any analyses, compilations, studies or other documents prepared by it
or for its use containing or reflecting any Confidential Information; p<U>rovided</U>, <U>however</U>, that each party will be permitted to retain all or any portion of the Confidential Information to comply with its governing laws, regulations or
internal policies. Such Confidential Information shall remain subject to the confidentiality obligations set forth in this Section&nbsp;8.13. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Inasmuch as any breach of this Section&nbsp;8.13 may result in immediate and irreparable injury, it is recognized and agreed that each party shall be entitled to seek equitable relief, including
injunctive relief and specific performance, in addition to all other remedies available at law. Further, all obligations, rights and remedies hereunder shall survive any return or destruction of the Confidential Information and any termination of
this Agreement; <U>provided</U>, <U>however</U>, that all obligations, rights and remedies under this Section&nbsp;8.13 shall survive the termination of this Agreement and remain in full force and effect for one (1)&nbsp;year after the termination
of this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">It is further understood and agreed that no failure or delay by either party in exercising any right,
power or privilege under this Section&nbsp;8.13 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 under this
Section&nbsp;8.13. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">25 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Notwithstanding any other provision of this Agreement, any party or Representative may
disclose to any and all Persons, without limitation of any kind, the tax treatment and tax structure of the VMTP Shares and all materials of any kind (including opinions or other tax analyses) that are provided to such party relating to such tax
treatment or tax structure; <U>provided</U> that the foregoing does not constitute an authorization to disclose information identifying the Fund or any parties to transactions engaged in by the Fund (except to the extent relating to such tax
structure or tax treatment) or any non-public commercial or financial information. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SECTION 8.14. General. </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This Agreement is executed by or on behalf of the trustees of the Fund solely in their capacity as such trustees and shall not constitute
their personal obligation either jointly or severally in their individual capacities. In accordance with the Declaration of Trust, no trustee, shareholder, officer, employee or agent of the Fund shall be held to any personal liability, nor shall
resort be had to their private property for the satisfaction of any obligation or claim or otherwise under this Agreement, and the Fund shall be solely liable therefor and all parties hereto shall look solely to the Fund property for the payment of
any claim, or the performance of any obligation, hereunder. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Notwithstanding anything expressed or implied in this Agreement
to the contrary, nothing in this Agreement shall confer upon the Purchaser any rights to dividends on, or a redemption of, VMTP Shares (other than the rights provided to Holders under the Certificate of Designation) or any rights which would result
in the VMTP Shares owned or held by the Purchaser having priority over VMTP Shares owned or held by any other Person as to distribution of assets or payment of dividends. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">26 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>IN WITNESS WHEREOF, </B>the parties hereto have caused this Agreement to be duly executed
by their respective authorized representatives as of the day and year first above written. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="15%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="84%"></TD></TR>


<TR>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">INVESCO&nbsp;VAN&nbsp;KAMPEN&nbsp;PENNSYLVANIA&nbsp;VALUE</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">MUNICIPAL INCOME TRUST</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/S/ John Zerr</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">John Zerr</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Senior Vice President</FONT></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC CAPITAL MARKETS, LLC</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/S/ Andrew Sanford</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Andrew Sanford</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Managing Director</FONT></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SCHEDULE I </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="76%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Description&nbsp;of&nbsp;VMTP&nbsp;Shares:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,301 Series 2015/6-VPV VMTP Shares, par value $0.01 per share, with a liquidation preference of $100,000 per share</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1 </FONT></P>

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<DOCUMENT>
<TYPE>EX-99.5
<SEQUENCE>6
<FILENAME>d358731dex995.htm
<DESCRIPTION>EX-99.5
<TEXT>
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<TITLE>EX-99.5</TITLE>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">Exhibit 99.5 </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="font-size:4px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">SERIES TRUST AGREEMENT
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">dated as of May&nbsp;15, 2012 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">by and between </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC MUNICIPAL PRODUCTS, INC., </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">as Trustor </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">and
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">THE BANK OF NEW YORK MELLON, </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">as Trustee and Tender Agent </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">with respect to </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC MUNICIPAL FLOATER CERTIFICATES, </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Series E-34 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">(&#147;<B>Floater Certificates</B>&#148;) </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC
MUNICIPAL RESIDUAL CERTIFICATES, </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Series E-34 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(&#147;<B>Residual Certificates</B>&#148;) </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">SERIES TRUST AGREEMENT </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This Series Trust Agreement, dated as of May&nbsp;15, 2012 (this &#147;<B>Series Trust Agreement</B>&#148;), by and between RBC Municipal
Products, Inc., as Trustor (in such capacity, the &#147;<B>Trustor</B>&#148;), and The Bank of New York Mellon, as Trustee and Tender Agent (in such capacity, the &#147;<B>Trustee</B>&#148; and &#147;<B>Tender Agent</B>&#148;) for the RBC Municipal
Floater Certificates, Series E-34 (the &#147;<B>Floater Certificates</B>&#148;) and RBC Municipal Residual Certificates, Series E-34 (the &#147;<B>Residual Certificates</B>&#148; and, together with the Floater Certificates, collectively, the
&#147;<B>Certificates</B>&#148;), together with the Master Terms of Trust Agreement, dated as of August&nbsp;1, 2006, attached hereto as Exhibit A (the &#147;<B>Master Terms</B>&#148; and, together with this Series Trust Agreement, the
&#147;<B>Trust Agreement</B>&#148;), is governed by such Master Terms as if the terms thereof were fully set forth herein. All capitalized terms used but not defined herein shall have the respective meanings assigned to such terms in the Master
Terms. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">(<U>WITNESSETH:</U>) </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><U>Section&nbsp;1. </U>A Trust is hereby created under the laws of the State of New York and in the manner specified in Section&nbsp;2.1 of the Master Terms for the benefit of Holders and Beneficial
Owners of Certificates. The purpose of the Trust will be (i)&nbsp;to acquire on the Deposit Date or the Additional Deposit Date, as applicable, the investment property described on <U>Schedule I</U> hereto (such investment property, which may
include equity shares, together with any other investment property permitted to be held hereunder, the &#147;<B>Bonds</B>&#148;), such Bonds to be held in trust; (ii)&nbsp;to provide for the creation, execution and delivery of the Floater
Certificates and the Residual Certificates; and (iii)&nbsp;to enter into on the Deposit Date the Liquidity Facility with respect to such Floater Certificates. Including equity shares in the definition of &#147;Bonds&#148; and using terms commonly
used for indebtedness herein is for convenience only; the parties shall treat any equity shares as equity for federal income tax purposes and for any other purpose where they otherwise would be characterized as equity. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The assets of the Trust shall consist of (i)&nbsp;all right, title and interest in and to the Bonds acquired on the Deposit Date or any
Additional Deposit Date (other than the Excluded Rights); (ii)&nbsp;all distributions thereon after the Deposit Date or the Additional Deposit Date, as applicable, pending distribution thereof in accordance with the terms of the Master Terms;
(iii)&nbsp;all right, title and interest in and to such distributions; (iv)&nbsp;the Liquidity Facility; and (v)&nbsp;all funds received under the Liquidity Facility. The Trustor hereby sells, transfers, assigns and otherwise conveys the Bonds
(other than the Excluded Rights), or hereby agrees to cause the sale, transfer, assignment or conveyance of the Bonds (other than the Excluded Rights) by the Seller to the Trustee, in each case without recourse. The Seller, if any, shall be as
listed on <U>Schedule I</U> hereto. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Notwithstanding any provisions of the Master Terms or this Series Trust Agreement to the
contrary, the Bonds shall remain subject, until such time that the Trustor determines to the contrary, to the provisions of (i)&nbsp;a voting trust agreement pursuant to which an independent third party will vote the Bonds as to certain matters set
forth in such agreement; and (ii)&nbsp;a registration rights agreement relating to the registration of the Bonds under the Securities Act. Any subsequent transferee of the Bonds shall acquire the Bonds subject to the terms of those agreements. With
respect to the voting trust agreement, the parties hereto hereby further agree that (i)&nbsp;for so long as the Bonds remain subject to such voting trust agreement, the provisions of Section&nbsp;10.1(b) and Section&nbsp;10.1(c) of the Master Terms
shall not apply and the Trustee shall not vote the Bonds, in its capacity as nominal holder thereof, and (ii)&nbsp;the Trustor shall promptly notify the Trustee, if the Trustor determines that such voting trust shall no longer be in effect.
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Section&nbsp;2.</U> The name of the Trust is RBC Municipal Products, Inc. Trust, Series
E-34. A description of the Bonds and certain terms governing the Certificates of this Series is set forth on <U>Schedule I</U> hereto. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><U>Section&nbsp;3.</U> The Master Terms are hereby amended and supplemented as follows: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">3.1 &nbsp;&nbsp;The first sentence of Section&nbsp;2.7 of the Master Terms of Trust Agreement is amended to read as follows: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">It is the express intent of the parties hereto that the transfer of the Bonds by the party selling the Bonds to the Trustee pursuant to a Series Trust Agreement, Additional Deposit Notice or other
instrument of transfer, as provided in this Agreement, be, and be construed as, an absolute sale of the Bonds. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">and the second sentence thereof
is amended by deleting the word &#147;Turst&#148; and replacing it with the word &#147;Trust&#148;. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Section&nbsp;4.</U> The
State Partnership Factors have <U>not</U> been adopted for the Certificates of this Series. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Section&nbsp;5.</U>
Proportionality has <U>not</U> been adopted with respect to the Certificates of this Series. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Section&nbsp;6.</U> The
Floater Certificates and the Residual Certificates shall be issued in substantially the form set forth in Exhibits A and B, respectively, to the Master Terms and shall have the particular characteristics and terms set forth on <U>Schedule I</U>
hereto. The Floater Certificates shall evidence beneficial interests in all Maturities of Bonds deposited in the Trust. The Residual Certificates shall evidence beneficial interests only in the particular Maturity of Bonds with which such Residual
Certificates are identified. All Certificates shall constitute beneficial interests in the Trust payable solely from payments received by the Trustee attributable to the Bonds (or, in the case of Residual Certificates, the particular Maturity of
Bonds) and the other property owned by the Trust. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Section&nbsp;7.</U> The Trustor has entered into the Placement Agency
and Remarketing Agreement, dated as of August&nbsp;1, 2006, together with a supplement thereto dated as of the Deposit Date (collectively, the &#147;<B>Remarketing Agreement</B>&#148;), by and between the Trustor and the Remarketing Agent. The
Trustor and the Remarketing Agent hereby acknowledge and agree that the terms of the Remarketing Agreement shall apply to the Floater Certificates of this Series. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><U>Section&nbsp;8.</U> The Trustor, the Trustee and the Remarketing Agent shall execute and deliver a letter of representations (a &#147;<B>DTC Letter</B>&#148;) in the form customarily provided to DTC,
dated the Deposit Date. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Section&nbsp;9</U>. The Trustor shall, prior to the execution and effectiveness of this Series
Trust Agreement, create, or cause to be created, a Private Placement Memorandum Supplement, dated the Deposit Date, describing the Series-specific terms of the Certificates of this Series, for use in the initial sale of the Floater Certificates of
this Series (and, if deemed advisable, a Preliminary Private Placement Memorandum Supplement), which Private Placement Memorandum Supplement shall supplement, modify and be subject in all respects to the terms of the Private Placement Memorandum,
dated August&nbsp;1, 2006, attached thereto, which describes the terms of the Certificates generally. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Section&nbsp;10.</U> With respect to the Trust, the Trustee shall <U>not</U> make Trustee
Advances pursuant to Section&nbsp;3.7 of the Master Terms. All provisions in the Master Terms relating to Trustee Advances shall be of no force or effect. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><U>Section&nbsp;11.</U> An Amortization Schedule of Deposit Prices is <U>not</U> attached as Schedule II hereto. Accordingly, the provisions of Section&nbsp;11.9 of the Master Terms shall not apply to
Certificates of this Series. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Section&nbsp;12.</U> A Reimbursement Agreement has not been executed in connection with the
Liquidity Facility for this Series. Instead the Beneficial Owner of the Residual Certificates has a deficit restoration obligation pursuant to Section&nbsp;2.8 of the Master Terms (set forth in Section&nbsp;17.7 below). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Section&nbsp;13.</U> With respect to the Certificates of this Series, an Election Letter has been delivered. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Section&nbsp;14.</U> As of the date hereof, the Bonds are <U>not </U>Prerefunded Bonds. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Section&nbsp;15.</U> For each particular Maturity of Bonds, the Trustee shall transfer the Accrued Interest on Bonds for such Maturity
of Bonds, on the date specified in Section&nbsp;10.8(d) of the Master Terms, to the Holder of the Related Residual Certificates, unless any other party is mentioned in the Additional Deposit Notice, in which case to such other party. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Section&nbsp;16.</U> Address for notices. If to the Trustee or Tender Agent: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Bank of New York Mellon </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Corporate Trust Dealing and Trading </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">101 Barclay Street 7 West </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, New York USA 10286 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Attention: Robert Fitzmire </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Tel: (212)&nbsp;815-8313 </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Fax: (212)&nbsp;815-2830 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><U>Section&nbsp;17.</U> With respect to this Series Trust Agreement only, the Master Terms are hereby amended and supplemented as follows: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">17.1 Section&nbsp;1.1 of the Master Terms is amended by adding the following definitions, each in proper alphabetical order: </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Affiliate</B>&#148; shall mean, with respect to a Person, (i)&nbsp;any other Person who, directly or indirectly,
is in control of, or controlled by, or is under common control with, such Person or (ii)&nbsp;any other Person who is a director, officer, employee or general partner (a)&nbsp;of such Person, (b)&nbsp;of any majority-owned subsidiary or parent
company of such Person or (c)&nbsp;of any Person described in clause&nbsp;(i) above. For purposes of this definition, &#147;<B>control</B>&#148; of a Person shall mean the power, direct or indirect, (x)&nbsp;to vote more than 25% of the securities
having ordinary voting power for the election of directors of such Person or (y)&nbsp;to direct or cause the direction of the management and policies of such Person whether by contract or otherwise. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Excluded Rights</B>&#148; shall mean all rights of a holder of the
Bonds to vote on or consent to matters relating to the Bonds, which rights shall be retained by the Trustor (or its assignee), subject to a voting trust agreement pursuant to which an independent third party will vote the Bonds as to certain matters
set forth in such agreement. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Minimum Asset Coverage</B>&#148; means asset coverage, as defined in
Section&nbsp;18(h) of the Investment Company Act and as determined in accordance with the underlying instruments governing the Bonds, of at least 225% with respect to all outstanding senior securities of the Issuer which are shares of beneficial
interests, including all outstanding Bonds (or, if higher, such other asset coverage as may be specified in or under the Investment Company Act as in effect from time to time as the minimum asset coverage for senior securities which are shares of
beneficial interest of a closed-end investment company as a condition of declaring dividends on its common shares). </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Preliminary SIFMA Spread</B>&#148; means, with respect to any SIFMA Term Period, the expected SIFMA Spread for such SIFMA Term Period, as determined by the Remarketing Agent pursuant to
Section&nbsp;7.3. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>SIFMA Index</B>&#148; means the &#147;Securities Industry and Financial Markets
Association Municipal Swap Index&#148; announced by Municipal Market Data on the day of the Rate Determination Time and based upon the weekly interest rate resets of tax-exempt variable rate issues included in a database maintained by Municipal
Market Data which meets specified criteria established by the Securities Industry and Financial Markets Association. The SIFMA Index shall be based upon current yields of high-quality weekly adjustable variable rate demand bonds which are subject to
tender upon seven days notice, the interest on which is tax exempt and not subject to any personal &#147;alternative minimum tax&#148; or similar tax under the Code unless all tax-exempt securities are subject to such tax. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>SIFMA Spread</B>&#148; means, with respect to any SIFMA Term Period, the spread determined by the Remarketing
Agent for such SIFMA Period pursuant to Section&nbsp;7.3. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>SIFMA Term Mode</B>&#148; means a Term Mode
during which the Term Rate equals the SIFMA Index, as reset from time to time, plus the SIFMA Spread. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>SIFMA Term Period</B>&#148; means each Interest Period during which the Floater Certificates are in the SIFMA
Term Mode. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">17.2 The reference to &#147;5%&#148; in the definition of &#147;Gain Share&#148; in Section&nbsp;1.1 of the Master
Terms shall be replaced with &#147;90%&#148;. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">17.3 The definition of &#147;Optional Tender Date&#148; in Section&nbsp;1.1 of the Master
Terms is hereby amended to read as follows: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Optional Tender Date</B>&#148; shall mean (i)&nbsp;with
respect to Floater Certificates in the Daily or Weekly Mode, any Business Day; (ii)&nbsp;with respect to Floater Certificates in the Monthly Mode, the first Business Day of each calendar month; (iii)&nbsp;with respect to Floater Certificates in the
Term Mode with Term Periods 30 days or less in duration, the first Business Day of each Term Period; (iv)&nbsp;with respect to Floater Certificates in any Mode, the date of any increase in the Remarketing Agent Fee Rate, the Liquidity Fee Rate or
the Trustee Fee Rate pursuant to Section&nbsp;3.3(e); (v)&nbsp;the Business Day preceding the effective date of any amendment of any provision of the Trust Agreement pursuant to Section&nbsp;14.4(c) or the waiver of any provision of the Trust
Agreement; and (vi)&nbsp;the Business Day preceding the effective date of any amendment of any provision of the Bonds or the governing instrument pursuant to which the Bonds were issued or the waiver of any provision of any of the foregoing
agreements. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">17.4 The definition of &#147;Tender Option Termination Event&#148; in Section&nbsp;1.1 of the Master Terms is
amended to read in its entirety as follows: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) an Act of Bankruptcy shall have occurred with respect to the
Issuer; </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) there shall have occurred a failure of payment of any redemption payment or premium, if any, or
accrued dividends (including in respect of any gross-up payments) on such Bonds (whether by optional redemption, term redemption or mandatory redemption), which failure shall continue unremedied for five days; </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) the Bonds shall have been downgraded by each Bond Rating Agency providing a long-term rating on such Bonds below the
lowest rating of such Bond Rating Agency that is commonly regarded as &#147;investment grade,&#148; being, as of the date hereof, BBB- in the case of S&amp;P and Fitch and Baa3 in the case of Moody&#146;s; or </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) any determination by the Issuer, the IRS or the Department of the Treasury (A)&nbsp;that the Bonds are not equity in
a RIC for federal income tax purposes or (B)&nbsp;that the Issuer is not a RIC that is eligible to pay exempt-interest dividends as defined in Section&nbsp;852(b)(5) of the Code; provided that, for the avoidance of doubt, a Tender Option Termination
Event shall not occur pursuant to this clause (iv)&nbsp;solely as a result of the Issuer failing to designate a dividend as an exempt-interest dividend. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">17.5 Section&nbsp;1.2 of the Master Terms is hereby amended by adding the following: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(g) With respect to any Maturity of Bonds that are preferred shares issued by a RIC, interest-related provisions of the related Trust Agreement shall be construed to apply to the exempt-interest dividends
as defined in Section&nbsp;852(b)(5) of the Code that are payable by such RIC and other bond-related provisions shall likewise be construed to apply to such preferred shares. Without limiting the generality of the foregoing, the term
&#147;<B>accrued interest</B>&#148; shall mean accrued dividends, &#147;<B>Bond Rate</B>&#148; shall mean the applicable dividend rate on Bonds that are equity shares, &#147;<B>Bond Interest Payment Date</B>&#148; shall mean the date dividends are
paid on Bonds that are equity shares, the term &#147;<B>Issuer</B>&#148; shall mean the issuer of any Bonds that are equity shares, and &#147;<B>principal amount</B>&#148; shall include the redemption preference of any Bonds that are equity shares.
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">17.6 Section&nbsp;2.2(a) is amended to read as follows: </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) The Trustor shall deliver or cause to be delivered to the Trustee the Bonds pursuant to the Series Trust Agreement or
an Additional Deposit Notice. With respect to each such delivery, the Trustor hereby represents and warrants as follows: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(i) the Bonds, at the time of their original issuance, were delivered with an Opinion of Counsel generally to the effect that interest (or in the case of Bonds that are equity shares, dividends) on the
Bonds is excludable from gross income for federal income tax purposes (in the case of Bonds that are equity shares, qualifies as exempt-interest dividends to the extent so designated); </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) immediately prior to the delivery thereof to the Trustee on behalf of the Trust, the party selling the Bonds owns the
Bonds free and clear of any lien, pledge, encumbrance or other security interest; </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) the party selling the
Bonds thereby releases all right, title and interest in and to the Bonds to the Trustee on behalf of the Trust for the related Series; and </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(iv) the Deposit Price was determined in accordance with the definition thereof; </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>provided</I> that, notwithstanding the foregoing, if so specified in the Series Trust Agreement or Additional Deposit Notice, the
Trustor may retain the Excluded Rights and transfer such Bonds to the Trustee on behalf of the Trust without such Excluded Rights. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">17.7 Article II of the Master Terms is hereby amended by adding the following new Section&nbsp;2.8: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;2.8 <U>Deficit Restoration Obligation of the Beneficial Owner of Residual Certificates</U>. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>(a)</B> The Beneficial Owner of the Residual Certificates shall have a deficit restoration obligation (&#147;<B>DRO</B>&#148;), pursuant to which such Beneficial Owner shall be obligated to make
additional capital contributions to the Trust from time to time to restore any deficit in such Beneficial Owner&#146;s partnership capital account resulting from the allocation to such Beneficial Owner, pursuant to Section&nbsp;2.5(g) of the Master
Terms, of any losses with respect to the Bonds or any expenses of the Trust, including but not limited to any amounts due and owing to the Liquidity Bank under the Liquidity Agreement and under any Liquidity Bank Certificates (collectively,
&#147;<B>Allocable Trust Losses and Expenses</B>&#148;); it being understood and agreed that the Beneficial Owner of the Residual Certificates shall not receive any additional Residual Certificates for additional capital contributions made in
respect of Allocable Trust Losses and Expenses. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">6 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(b)</B> In addition to any other transfer restrictions applicable to any
transfer of Residual Certificates by the Beneficial Owner of the Residual Certificates pursuant to the provisions of Section&nbsp;10.12(g), any transferee of Residual Certificates must explicitly accept and agree to satisfy the DRO described in
Section&nbsp;2.8(a) above and must satisfy any other requirements of the Tax Responsible Partner at the time of such transfer, including but not limited with respect to the creditworthiness of the proposed transferee. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(c)</B> Notwithstanding any provisions of the Master Terms to the contrary, any termination of the Trust Agreement
pursuant to Section&nbsp;14.5 of the Master Terms shall be subject to the satisfaction by the Beneficial Owner of the Residual Certificates (or any transferee) of its DRO pursuant to this Section&nbsp;2.8. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(d)</B> All computations and determinations with respect to the DRO (including the amount of any DRO and the due date
of any DRO) shall be made by the Tax Responsible Partner, including but not limited to any determination as to the satisfaction of the DRO by the Beneficial Owner of the Residual Certificates (or any transferee), for purposes of Section&nbsp;2.8(c)
above. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">17.8 Article III of the Master Terms is hereby amended by adding the following new Section&nbsp;3.8: </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;3.8 <U>Mandatory Tender Event for Taxable Dividends; Gross Up Payments for Taxable Allocations</U>. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) With respect to each Bond Interest Payment Date, if the Trustee, in its capacity as holder of such Maturity of Bonds,
shall have received notice from the Tax Responsible Partner that the Issuer intends or expects to distribute on such Bond Interest Payment Date any payment or portion of a payment of a dividend that is not designated by the Issuer as an
exempt-interest dividend (as defined in Section&nbsp;852(b)(5) of the Code) (any such payment or portion thereof, a &#147;<B>Taxable Allocation</B>&#148;), the Trustee shall promptly give notice thereof to the Notice Parties and the Holders of the
Certificates; it being understood and agreed that, if the relevant Taxable Allocation is a taxable dividend other than a capital gain dividend (as defined in Section&nbsp;852(b)(3)(C) of the Code) (any such taxable dividend, a &#147;<B>Taxable
Dividend</B>&#148;), receipt of such notice by the Trustee shall also constitute a Mandatory Tender Event, subject to the right of an Election to Retain, pursuant to Section&nbsp;5.4(a)(xv) of the Master Terms (as set forth below in
Section&nbsp;17.9). </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) With respect to each Bond Interest Payment Date, if the Trustee, in its capacity as
holder of the Bonds, receives any gross-up payments from the Issuer payable in respect of Taxable Allocations distributed on such Bond Interest Payment Date, the Trustee shall pay out of such received gross-up payments, subject to the rules and
requirements of the Securities Depository and as directed by the Tax Responsible Partner: </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) to each Holder of Floater Certificates that held Floater Certificates at
any time during the relevant Calculation Period, Gross-up Payments in respect of the Taxable Allocations distributed on such Bond Interest Payment Date, in addition to the Floater Certificate Interest Amount to which such Holder is entitled on such
Floater Certificate Interest Date, <I>pro rata</I>, based on the Taxable Allocations allocable to such Holder, compared to the Taxable Allocations allocable to all Holders that held Floater Certificates during the relevant Calculation Period; and
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) <B></B>to each Holder of&nbsp;Residual Certificates that held Residual Certificates at any time during
the relevant Calculation Period, its <I>pro rata </I>share of the remainder of any such received gross-up payments. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(c) With respect to each Bond Interest Payment Date, if the Trustee, in its capacity as holder of the Bonds, receives any gross-up payments from the Issuer payable in respect of Taxable Allocations
distributed on a prior Bond Interest Payment Date, the Trustee shall pay out of such received gross-up payments, subject to the rules and requirements of the Securities Depository and as directed by the Tax Responsible Partner: </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) to each Holder of Floater Certificates that held Floater Certificates at any time during the relevant Calculation
Period, Gross-up Payments in respect of the Taxable Allocations distributed on such prior Bond Interest Payment Date, <I>pro rata</I>, based on the Taxable Allocations allocable to such Holder, compared to the Taxable Allocations allocable to all
Holders that held Floater Certificates during the relevant Calculation Period; and </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) to each Holder
of&nbsp;Residual Certificates that held Residual Certificates at any time during the relevant Calculation Period, its <I>pro rata </I>share of the remainder of any such received gross-up payments. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) For purposes of this Section&nbsp;3.8, &#147;<B>Gross-up Payment</B>&#148; shall mean payment to a Holder or
Beneficial Owner of Floater Certificates, pursuant to Section&nbsp;3.8(b) or 3.8(c) above, as applicable, of an amount which, when taken together with the aggregate amount of Taxable Allocations made to such Holder or Beneficial Owner to which such
Gross-up Payment relates, would cause such Holder&#146;s or Beneficial Owner&#146;s dividends in dollars (after giving effect to regular federal income tax consequences) from the aggregate of such Taxable Allocations and the related Gross-up Payment
to be equal to the dollar amount of the dividends which would have been received by such Holder or Beneficial Owner if the amount of such aggregate Taxable Allocations would have been excludable from the gross income of such Holder or Beneficial
Owner. Such Gross-up Payment shall be calculated (i)&nbsp;without consideration being given to the time value of money; (ii)&nbsp;assuming that no Holder or Beneficial Owner is subject to the federal alternative minimum tax with respect to dividends
received from the Issuer; (iii)&nbsp;assuming that each Taxable Allocation and each Gross-up Payment (except to the extent such Gross-up Payment is properly designated as an exempt-interest dividend under Section&nbsp;852(b)(5) of the Code or
successor provisions) would be taxable in the hands of each Holder or Beneficial Owner at the maximum marginal regular federal corporate income tax rate applicable to ordinary income or net capital gains, as applicable, in effect at the time such
Gross-up Payment is made; and (iv)&nbsp;assuming that each Taxable Allocation and each Gross-up Payment would not be subject to the tax imposed by Section&nbsp;1411 of the Code or any similar Medicare or other surtax. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">8 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) If any Holder or Beneficial Owner of Certificates transfers such
Certificates, after having received Taxable Allocations thereon, but before having received the Gross-up Payment to which such Holder or Beneficial Owner is entitled with respect thereto, such Holder or Beneficial Owner shall: </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) notify the transferee that, notwithstanding such transfer, such Holder or Beneficial Owner is entitled to the Gross-up
Payment payable with respect to such Taxable Allocations; </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) require, as a condition of such transfer, that
the transferee acknowledge and agree that, upon the receipt of any such Gross-up Payment, the transferee shall have an obligation to restore such Gross-up Payment to such Holder or Beneficial Owner; and </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) provide the Remarketing Agent and such transferee with instructions for the transmittal of such Gross-up Payment, as
and when received; it being understood and agreed that, notwithstanding anything to the contrary in this Section&nbsp;3.8, none of the Trustor, the Tax Responsible Partner, the Trustee, the Tender Agent, the Remarketing Agent, DTC or any DTC
Participant shall be liable for any failure by the Transferee to so transmit such Gross-up Payment to such Holder or Beneficial Owner. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">17.9 Section&nbsp;5.2(a)(v) of the Master Terms is hereby amended to read in its entirety as follows: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(v) with respect to each Maturity separately, notice shall have been received by the Trustee from the Liquidity Bank or the Remarketing Agent that the rating of the Bonds of such Maturity by each
applicable Bond Rating Agency has either been withdrawn or has fallen below the Rating Threshold; provided that, if a Mandatory Tender Event pursuant to this paragraph (v)&nbsp;occurs simultaneously with the occurrence of a Tender Option Termination
Event pursuant to clause (iii)&nbsp;of the definition thereof, such Tender Option Termination Event will prevail and no Mandatory Tender Event shall be deemed to have occurred; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">17.10 Section&nbsp;5.2(a) of the Master Terms is hereby amended by adding the following new Sections 5.4(a)(xv), 5.4(a)(xvi) and
5.4(xvii): </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(xv) with respect to each Maturity separately, subject to the right of an Election to Retain,
notice shall have been received by the Trustee from the Tax Responsible Partner that the Issuer intends or expects to distribute, in connection with the distribution of dividends on the next Bond Interest Payment Date, a Taxable Dividend;
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">9 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(xvi) with respect to each Maturity separately, notice shall have been
received by the Trustee from the Tax Responsible Partner of the failure by the Issuer to declare any dividends with respect to any Bond Interest Payment Date; and </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(xvii) with respect to each Maturity separately, notice shall have been received by the Trustee from the Tax Responsible
Partner of the failure by the Issuer to have cured any failure to maintain Minimum Asset Coverage on or before the tenth Business Day following such failure. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">17.11 Section&nbsp;5.2(d) of the Master Terms is hereby amended by adding the following as a new Section&nbsp;5.2(d)(v) and renumbering current Section&nbsp;5.2(d)(v) as Section&nbsp;5.2(d)(vi):
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(v) in the case of a Mandatory Tender Event under Section&nbsp;5.2(a)(xv), the Business Day preceding the Bond
Interest Payment Date on which a Taxable Dividend is expected to be distributed in connection with the distribution of dividends on the Bonds; and </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">17.12 Article V of the Master Terms is hereby amended by adding the following new Section&nbsp;5.3: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;5.3 <U>Issuer Right of First Refusal</U>. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a)
Notwithstanding any provisions of the Master Terms to the contrary, if (i)&nbsp;any Bonds are required to be transferred pursuant to the provisions of the Master Terms, including but not limited to Section&nbsp;5.1 and Section&nbsp;5.2 <U>and</U>
(ii)&nbsp;after giving effect to such transfer, any Person other than RBC Capital Markets LLC (&#147;<B>RBCCM</B>&#148;) or any Affiliate thereof would have purchased directly or indirectly in a series of related transactions from the Trust, RBCCM
or any Affiliate thereof more than 25% of the Bonds then outstanding, in each case (i)&nbsp;and (ii), as determined by the Remarketing Agent, the Issuer shall have a right of first refusal to purchase such Bonds at a price equal to the relevant
Quotation of Bond Price or such other price at which such transfer would otherwise have been made. The Remarketing Agent shall give the Issuer notice of such right of first refusal at the same time that the Remarketing Agent determines the relevant
Quotation of Bond Price. Neither the Trustee nor Tender Agent shall have any duty to enforce or monitor compliance with the terms of this Section&nbsp;5.2(d)(v) and both shall rely, without inquiry, on the instructions of the Remarketing Agent.
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) Any transfer in violation of this Section&nbsp;5.3 shall be void <I>ab initio</I>. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">10 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">17.13 Section&nbsp;6.1(b) of the Master Terms of Trust Agreement is amended to read as
follows: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) With respect to each such delivery of Bonds on an Additional Deposit Date, the Trustor hereby represents and
warrants that (i)&nbsp;the Bonds, at the time of their original issuance, were delivered with an Opinion of Counsel generally to the effect that interest (or in the case of Bonds that are equity shares, dividends) on such Bonds is excludable from
gross income purposes (in the case of Bonds that are equity shares, qualifies as exempt-interest dividends to the extent so designated) for federal income tax purposes, (ii)&nbsp;immediately prior to the delivery thereof to the Trustee on behalf of
the Trust, the party selling the Bonds owns the Bonds free and clear of any lien, pledge, encumbrance or other security interest, and (iii)&nbsp;the party selling the Bonds thereby releases all right, title and interest in and to such Bonds to the
Trustee on behalf of the Trust for the related Series; <I>provided</I> that, notwithstanding the foregoing, if so specified in the Additional Deposit Notice, the Trustor may retain the Excluded Rights and transfer such Bonds to the Trustee on behalf
of the Trust without such Excluded Rights. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">17.14 Article VII of the Master Terms is hereby amended by adding the following new
Section&nbsp;7.3 </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;7.3. <U>SIFMA Term Mode.</U> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) Notwithstanding anything to the contrary in Sections 3.5 and 7.2, the Remarketing Agent, at the direction of the Trustor and with the
prior written consent of the Beneficial Owner of Residual Certificates, may determine to change the Rate Mode to a Term Mode which is a SIFMA Term Mode, in which case the notices provided by the Remarketing Agent pursuant to Section&nbsp;7.2(c)
shall additionally state (i)&nbsp;that the Term Mode will be a SIFMA Term Mode and (ii)&nbsp;the Preliminary SIFMA Spread for the initial SIFMA Period. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(b) For so long as the Floater Certificates remain in the SIFMA Term Mode, the Rate Determination Time shall be 12:00 noon on each Thursday or, if Thursday is not a Business Day, 12:00 noon on the next
succeeding Business Day, and the Floater Certificate Rate determined by the Remarketing Agent at such Rate Determination Time shall be in effect from such Thursday through the following Wednesday; provided, that if a SIFMA Term Mode commences on a
day other than a Thursday, then the initial Rate Determination Time for such SIFMA Term Mode shall be 12:00 noon on the immediately preceding Thursday, or if such immediately preceding Thursday was not a Business Day, 12:00 noon on the Business Day
that succeeds such Thursday. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) Before the Business Day closest but prior to the 45th calendar day prior to the last day of
any SIFMA Term Period, the Remarketing Agent, at the direction of the Trustor, shall determine whether the Floater Certificates will remain in the SIFMA Term Mode at the end of such SIFMA Term Period. If the Remarketing Agent determines that the
Floater Certificates will remain in the SIFMA Term Mode, the Remarketing Agent, with the consent of the Beneficial Owner of the Residual Certificates, will determine the length of the succeeding SIFMA Term Period and the Preliminary SIFMA Spread for
such succeeding SIFMA Term Period and shall provide a form of notice substantially in the form of Exhibit B to the Series Trust Agreement, to be used by the Trustee for delivery to each Securities Depository by Electronic Means for transmission to
the Beneficial Owners. The Trustee shall, at or prior to the close of business on the Business Day immediately following the Business Day on which it receives such notice from the Remarketing Agent, transmit such notice to each Securities
Depository. Such notice by the Trustee shall serve in lieu of the notice required pursuant to Section&nbsp;5.2(d), and no additional notice pursuant to Section&nbsp;5.2(d) shall be required. If the Remarketing Agent determines that the Floater
Certificates will not remain in the SIFMA Term Mode, then the provisions of Section&nbsp;7.2 shall apply. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">11 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) In connection with any Mandatory Tender Event pursuant to Section&nbsp;5.2(a)(xi)
resulting from the commencement of a new SIFMA Term Period, the notice from the Remarketing Agent to the Tender Agent required in connection therewith pursuant to Section&nbsp;9.1(a) shall be given at least 30 days before the first day of such new
SIFMA Term Period (such thirtieth day, the &#147;SIFMA Remarketing Date&#148;), notwithstanding anything to the contrary in the Trust Agreement. If such notice states that some or all of the Floater Certificates have not been remarketed or if the
Tender Agent has not received such notice by 11:00 a.m. on the SIFMA Remarketing Date, the Tender Agent shall give telephonic notice to the Liquidity Bank, confirmed by Electronic Means or in writing or by hand delivery, of the amount of Floater
Certificates that were not remarketed or are assumed not to be remarketed (and are therefore to be purchased) and the related Purchase Price; provided, however, that the Remarketing Agent shall continue to remarket any affected Floater Certificates
and the Tender Agent shall not draw on the Liquidity Facility pursuant to Section&nbsp;9.1 until the eventual Remarketing Date and then only in an amount corresponding to the Floater Certificates that have not been remarketed by the eventual
Remarketing Date. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) The Remarketing Agent shall, prior to the first day of each SIFMA Term Period, determine the SIFMA
Spread for such SIFMA Term Period, which SIFMA Spread shall be determined as the lowest spread that would, in the Remarketing Agent&#146;s opinion, under then existing market conditions, without reference to any amounts payable under Sections
5.1(d)(vi), 6.4(c)(ii) and 11.1(a)(iv), result in a sale of the Floater Certificates at a price equal to the Stated Amount thereof plus accrued and unpaid interest, if any; provided, however, that such SIFMA Spread shall not be less than the
Preliminary SIFMA Spread for such SIFMA Term Period. On the Business Day following the last day of the preceding Interest Period, the new SIFMA Term Period and related SIFMA Spread shall become effective. The determination of the SIFMA Spread by the
Remarketing Agent shall be conclusive and binding, in the absence of manifest error, upon the Trustee, the Tender Agent, the Liquidity Bank, and the Holders and Beneficial Owners of Floater Certificates and Residual Certificates. The Trustee and
Tender Agent shall have no responsibility for determining or confirming the SIFMA Spread. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(f) Floater Certificates in the
SIFMA Term Mode will be subject to mandatory tender in accordance with Section&nbsp;5.2(a)(xi), regardless of the length of the next succeeding SIFMA Term Mode, on the first Business Day of the immediately succeeding Rate Mode; provided that any
Election to Retain in connection with a mandatory tender pursuant to Section&nbsp;5.2(a)(xi) must be made on a Business Day at least 40 calendar days prior to the last day of the current SIFMA Term Period. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">12 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">17.15 Section&nbsp;10.12(a) of the Master Terms is hereby amended in its entirety as
follows: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) Certificates and interests therein may only be issued and sold or transferred to Persons that are: </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(I)&nbsp;(A) QIBs that are: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:13%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(i) registered closed-end management investment companies the shares of which are traded on a national securities exchange; </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:13%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) banks (and their direct or indirect wholly-owned subsidiaries); </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:13%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) insurance companies; </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:13%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(iv) Broker-Dealers; </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:13%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(v) Foreign Entities (and their direct or
indirect wholly-owned subsidiaries); </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:13%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(vi) companies that are included in the S&amp;P 500 Index (and their
direct or indirect wholly-owned subsidiaries); or </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:13%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(vii) registered open-end management investment companies;
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:13%"><FONT STYLE="font-family:Times New Roman" SIZE="2">in each case, pursuant to Rule&nbsp;144A of the Securities Act or another available exemption from registration under the
Securities Act, in a manner not involving any public offering within the meaning of Section&nbsp;4(2) of the Securities Act; and </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:13%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(B) QPs, in each case purchasing Certificates or interests therein for their own account; <U>and</U> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(II) not residents of Canada. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For purposes of this
Section&nbsp;10.12(a), &#147;<B>Broker-Dealer</B>&#148; shall mean any registered broker-dealer that has indicated on its BrokerCheck Report (available on FINRA BrokerCheck) under &#147;Firm Operations&#151;Types of Business&#148; that it is engaged
in each of the following business lines: (i)&nbsp;&#147;Broker or dealer retailing corporate equity securities over-the-counter;&#148; and (ii)&nbsp;&#147;Underwriter or selling group participant&#148; (of any type of securities); provided that, if
FINRA shall discontinue the existence of BrokerCheck, &#147;Broker-Dealer&#148; shall mean any registered broker-dealer that engages in such business lines or substantively equivalent business lines as indicated on whatever publicly available
information source that replaces FINRA BrokerCheck; provided further that if no publicly available information source replaces FINRA BrokerCheck, &#147;Broker-Dealer&#148; shall mean any registered broker dealer. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">13 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For purposes of this Section&nbsp;10.12(a), &#147;<B>Foreign
Entity</B>&#148; shall mean any non-U.S. entity that is an Operating Company whose equity securities (or depositary receipts) are publicly traded and&nbsp;has a market capitalization of a U.S. dollar equivalent of not less than U.S.$1,000,000,000 on
the trade date for the proposed transfer of Certificates or interests therein. For purposes of this definition, &#147;<B>Operating Company</B>&#148; shall mean any company that (i)&nbsp;is not, and does not hold itself out as being engaged primarily
in the business of investing, reinvesting, owning, holding or trading in securities and does not own securities having a value exceeding 50% of the value of such company&#146;s total assets as set forth on such company&#146;s most recently publicly
available financial statement; or (ii)&nbsp;is a banking institution, insurance company or broker-dealer, incorporated or organized under the laws of a country other than the United States, or a political subdivision of a country other than the
United States that is regulated as such by that country&#146;s or subdivision&#146;s government or any agency thereof. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Any transfer in violation of the foregoing restrictions shall be void <I>ab initio</I> and any transferee of Certificates or interests therein transferred in violation of the foregoing restrictions shall
be deemed to agree to hold all payments it received on any such improperly transferred Certificates or interests therein in trust for the benefit of the transferor of such Certificates or interests therein. The foregoing restrictions on transfer set
forth in clause (I)&nbsp;above shall not apply to any Certificates or interests therein, if the Bonds shall have been registered under the Securities Act pursuant to the registration rights agreement relating to the registration of the Bonds under
the Securities Act. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">17.16 Section&nbsp;10.12 of the Master Terms is hereby amended by adding the following new
Section&nbsp;10.12(i): </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) Notwithstanding any provisions of the Master Terms to the contrary, if (i)&nbsp;the
Beneficial Owner of the Residual Certificates proposes to transfer any of its Residual Certificates pursuant to the provisions of Section&nbsp;10.12(g) <U>and</U> (ii)&nbsp;after giving effect to such transfer, any Person other than RBCCM or any
Affiliate thereof would have purchased directly or indirectly in a series of related transactions from the Trust, RBCCM or any Affiliate thereof more than 25% of the Related Residual Certificates then outstanding with respect to any Maturity of
Bonds, in each case (i)&nbsp;and (ii), as determined by the Remarketing Agent, the Issuer of such Maturity of Bonds shall have a right of first refusal to purchase such Residual Certificates at a price equal to the price at which such transfer would
otherwise have been made pursuant to Section&nbsp;10.12(g). The Remarketing Agent shall give the Issuer notice of such right of first refusal at the same time that the Remarketing Agent determines the relevant Quotation of Bond Price. Any transfer
in violation of this Section&nbsp;10.12(i) shall be void <I>ab initio</I>. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">14 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">17.17 Section&nbsp;13.10 of the Master Terms is hereby amended in its entirety as follows:
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.10. <U>Notice of Certain Defaults and Changes in Ratings</U>. Upon receipt of notice of any
default on any Maturity of Bonds, or notice of any change, suspension or termination in or of the ratings on any Maturity of Bonds, from the Issuer&#146;s trustee or other applicable fiduciary or upon actual knowledge thereof by an officer of the
Trustee assigned to the administration of the Trust, the Trustee shall forward such notice of such default or change in rating to the Notice Parties and the Holders of the Certificates. Such notice shall set forth (a)&nbsp;with respect to a default,
(x)&nbsp;the date and nature of such default and (y)&nbsp;the amount of principal and the amount of interest to which such default relates, and (b)&nbsp;with respect to a change, suspension or termination in or of the ratings on any Maturity of
Bonds, the date and nature of such change, suspension or termination, and (c)&nbsp;in either case, any other information which the Trustee deems appropriate.&#148; </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">17.18 Section&nbsp;14.2(c) is amended by adding the following sentence at the end thereof: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Trustee shall also forward any notice relating to the Bonds received by the Trustee, in its capacity as holder of the Bonds, from the trustee for the Bonds to the Notice Parties and the Holders of
Certificates. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">17.19 The form of Purchaser&#146;s Letter attached as Exhibit F to the Master Terms is hereby replaced with the
form of Purchaser&#146;s Letter attached as <U>Exhibit F</U> hereto. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">17.20 Section&nbsp;13.3 is amended by adding
Section&nbsp;13.3(e): </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) For all purposes of the Agreement, the Trustee and the Tender Agent may assume that no amendment of
any provision of the Bonds or the governing instrument pursuant to which the Bonds were issued or the waiver of any provision of any of the foregoing agreements has occurred until and unless an officer of the department of the Trustee administering
the Agreement shall have received written notice thereof and neither the Trustee nor the Tender Agent shall be liable for any action taken or omitted to be taken on the basis of such assumption. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">15 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">IN WITNESS WHEREOF, the parties hereto have caused this Series Trust Agreement with respect
to Certificates of Series E-34 to be executed by their respective duly authorized officers as of the date first above written. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC MUNICIPAL PRODUCTS, INC. as Trustor</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Andrew Sanford<B></B></FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Andrew Sanford</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Managing Director</FONT></TD></TR>
<TR>
<TD HEIGHT="8" COLSPAN="3"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">THE BANK OF NEW YORK MELLON,<BR>&nbsp;&nbsp;&nbsp;&nbsp;as Trustee and Tender Agent</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Glenn McKeever<B></B></FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Glenn McKeever</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vice President</FONT></TD></TR>
</TABLE></DIV> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="13%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="86%"></TD></TR>


<TR>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">ACKNOWLEDGED AND AGREED</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">solely with respect to Section&nbsp;17.7 hereof</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8" COLSPAN="3"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC MUNICIPAL PRODUCTS, INC.,</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;as Beneficial Owner of the Residual Certificates</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Andrew Sanford<B></B></FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Andrew Sanford</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Managing Director</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">[E-34 Series Trust Agreement Signature Page] </FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SCHEDULE I </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>DESCRIPTION OF THE BONDS AND THE </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>CERTIFICATES </B></FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><U>THE BONDS </U></B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="25%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="73%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Issuer:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Invesco Van Kampen Pennsylvania Value Municipal Income Fund Trust</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Bonds:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Series 2015/6-VPV Variable Rate Muni Term Preferred Shares</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Dated Date:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">May 10, 2012</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Maturity Date:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">June 1, 2015 or such later date to which it may be extended, if any, in accordance with the constituent documents for the Bonds.</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Bond Rate:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">A rate equal to the lesser of:</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">(x) the sum of (1)&nbsp;the SIFMA Municipal Swap Index and (2) the Ratings Spread; and</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">(y) 15% per annum;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">as such rate is determined in accordance with the constituent documents for the Bonds and subject to adjustment upon the occurrence of certain events specified in the constituent
documents for the Bonds, including but not limited to (i) a &#147;Failure to Deposit&#148; (as defined therein), (ii) an &#147;Increased Rate Event (as defined therein) and (iii) certain other events described therein.</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Ratings Spread:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">The percentage per annum set forth opposite the highest applicable credit rating applicable assigned to the Bonds, unless the lowest applicable rating is at or below A1/A+, in
which case the Ratings Spread shall be the percentage per annum set forth the lowest applicable credit rating assigned to the Bonds:</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">I-1
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="22%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="46%"></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Moody&#146;s/Fitch (or equivalent from<BR>another rating agency)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Percentage</B></FONT></TD></TR>


<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Aa2/AA to Aaa/AAA</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.10%</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Aa3/AA-</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.20%</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A1/A+</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2.00%</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A2/A</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2.00%</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A3/A-</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2.00%</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Baa1/BBB+</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.00%</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Baa2/BBB</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.00%</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Baa3/BBB-</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.10%</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Non-investment&nbsp;grade&nbsp;or&nbsp;NR</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4.00%</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Principal Amount of Bonds</B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Deposited in the Trust:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">$130,100,000</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Bond Interest Payment Dates:</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">The first Business Day of each month, commencing June 1, 2012</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Bond CUSIP No.:</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">46132K604</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Bond Rating Agency(ies)and</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Current Rating(s):</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Moody&#146;s&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aa2</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Fitch&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AAA</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Denomination of Bonds:</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">$100,000</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Interest Computation Basis:</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Actual/Actual</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Accrued Interest on Bonds:</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">$23,524.93</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Optional Redemption:</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Subject to certain conditions, the Bonds may be redeemed at any time, at the option of the Issuer, at a redemption price of 100% of the principal amount thereof, plus
accrued interest thereon to the date of redemption and, subject to certain conditions, a redemption premium provided for in the constituent documents for the Bonds.</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Redemption Premium:</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">With respect to any Bonds rated above A1/A+ and its equivalent by all rating agencies then rating such Bonds at the request of the Issuer and any optional redemption,
other than certain redemptions to comply with, or exceed up to 240%, Minimum Asset Coverage requirements, an amount equal to:</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) with respect to any such optional redemption that occurs on or before June 1, 2013, the redemption premium shall be an amount equal to the product of (x) 3% and (y)
the principal balance of the Bonds subject to redemption.</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">With respect to any optional redemption that occurs after June 1, 2013 but on or before December 31, 2013, the redemption premium shall be an amount equal to the product
of (x) 2% and (y) the principal balance of the Bonds subject to redemption.</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">With respect to any optional redemption that occurs after December 31, 2013 but on or before June 1, 2014, the redemption premium shall be an amount equal to the product
of (x) 1% and (y) the principal balance of the Bonds subject to redemption.</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Expected Redemption Date:</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">June 1, 2015</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">I-2
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><U>THE FLOATER CERTIFICATES </U></B></FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="27%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="71%"></TD></TR>


<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Floater Certificates:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Floater Certificates, Series E-34</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Stated Amount: $130,095,000</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">CUSIP: 74926Y WK3</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Authorized Denominations: $100,000 and integral multiples of $5,000 in excess thereof</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Floater&nbsp;Certificate&nbsp;Rating&nbsp;Agency:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Moody&#146;s</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Floater Certificate Ratings:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Aa2 / VMIG 1</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Floater Certificate Interest</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Payment Dates:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Each Bond Interest Payment Date</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Residual Certificates:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Residual Certificates, Series E-34</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Stated Amount: $5,000</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">CUSIP: 74926Y WL1</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Authorized Denominations: $5,000 and integral multiples of $1 in excess thereof</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Deposit Date:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">May 15, 2012</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Average Life from Deposit Date:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">2.4 years</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Deposit Price:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">100.000%</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Deposit Yield:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Variable</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Alternate Deposit Yield:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Variable</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Original Issue Price:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">100.000%</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Original Yield:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Variable</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Market Discount:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Not Applicable</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">I-3
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="68%"></TD></TR>


<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Designated Termination Date:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">October&nbsp;1, 2014</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Initial Rate:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">To be determined by the Remarketing Agent</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Initial Interest Period:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Deposit Date through May 16, 2012</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Initial Mandatory Tender Date:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">N/A</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Initial Rate Mode:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Weekly</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Liquidity Fee Rate:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.85%</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Liquidity Bank:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada, a Canadian chartered bank, acting through a New York branch, pursuant to the Liquidity Agreement dated as of May 15, 2012 between the Trustee and Tender
Agent and the Liquidity Bank</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Scheduled Expiration Date:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">June 1, 2015, unless extended by Royal Bank of Canada</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Minimum Floater Certificate Ratio:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Not applicable</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Minimum Maximum Floater Certificate Rate:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Variable</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Election Letter</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Delivered</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Prerefunded Bonds (as of Deposit Date):</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Bonds are not Prerefunded Bonds</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Proportionality:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Proportionality not adopted</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Level of Proportionality:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Not applicable</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Rating Threshold:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Aa3 for Moody&#146;s, AA- for S&amp;P and AA- for Fitch (or equivalent ratings if other rating agencies are the Bond Rating Agencies)</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Remarketing Agent:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Capital Markets, LLC, pursuant to the Placement Agency and Remarketing Agreement, dated as of August 1, 2006, by and between the Trustor and the Remarketing Agent (then named
RBC Dain Rauscher Inc.)</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Remarketing Agent Fee Rate:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.075%</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Tender Agent:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Bank of New York Mellon</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Trustee:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Bank of New York Mellon</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Trustee Fee Rate:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.015%</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Trustee Advances:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Not applicable</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">I-4
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>EXHIBIT F </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>FORM OF PURCHASER LETTER </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Floater Certificates </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Series E-34 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC
Municipal Residual Certificates </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Series E-34 </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">RBC Capital Markets, LLC, </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">as Placement Agent and Remarketing Agent </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Three World Financial Center, 8th Floor </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">200
Vesey Street </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, New York 10281-8098 </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Bank of New York Mellon, </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">as Trustee and Tender Agent </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">101 Barclay Street 7 West </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, New York
USA 10286 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attention: Glenn McKeever </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Re:</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Floater Certificates </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><U>RBC Municipal Residual Certificates </U></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Ladies and Gentlemen: </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">1. This Purchaser Letter applies to privately offered trust certificates designated as a series (each, a &#147;Series&#148;) of RBC
Municipal Floater Certificates (&#147;Floater Certificates&#148;) or RBC Municipal Residual Certificates (&#147;Residual Certificates&#148; and, together with Floater Certificates, the &#147;Certificates&#148;) that are currently being offered or
that may be offered in the future. This Purchaser Letter supersedes all Purchaser Letters that we have delivered relating to any prior purchases or transfers of any Series of Certificates, and applies to all prior, current and future purchases and
transfers of Certificates as of and from the date hereof. The terminology used herein is intended to be general in its application and not to exclude any Certificates of any Series in respect of which alternative terminology may be used. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">2. The undersigned (hereinafter &#147;we&#148; or the &#147;Undersigned,&#148; with &#147;us&#148; and &#147;our&#148; having meanings
correlative thereto) has purchased Certificates and may in the future, either pursuant to remarketing or upon original issuance, purchase Certificates. All Certificates currently Outstanding have been described in a Private Placement Memorandum,
supplemented by a Private Placement Memorandum Supplement relating to a specific Series of Certificates (as so supplemented, with respect to each such Series, collectively, the &#147;PPM&#148;). Capitalized terms used but not defined herein shall
have the meanings assigned to such terms in the PPM. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">3. We covenant and agree as follows: </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">A. This Purchaser Letter shall apply to all transfers by us of Certificates and beneficial interests in Certificates, including sales of
and offers to sell Certificates and any other disposition of Certificates (each, a &#147;Transfer&#148; and, collectively, &#147;Transfers,&#148; with &#147;Transferee&#148; and &#147;to Transfer&#148; having meanings correlative thereto).
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">I-1
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">B. Transfers of Certificates by us shall be made only in the Authorized Denominations set
forth in the PPM related to such Certificates. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">C. We will Transfer any Certificates held by us from time to time subject to
the restrictions imposed by the Trust Agreement, including the restriction that we shall not Transfer the Certificates to a person who we know is a resident of Canada, and any other transfer restrictions or other related procedures described in the
PPM. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">D. We will make Transfers only to a Transferee that has signed and delivered to the Remarketing Agent a Purchaser Letter
in form and substance substantially identical to this Purchaser Letter. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">E. We shall advise the Remarketing Agent of each
Transfer and the identity of each Transferee. Furthermore, if we Transfer any Certificates after having received Taxable Allocations thereon, but before having received the Gross-up Payment to which we are entitled with respect thereto, we shall:
</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">i.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">notify the Transferee that, notwithstanding such Transfer, we are entitled to the Gross-up Payment payable with respect to such Taxable Allocations;
</FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">ii.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">require, as a condition of such Transfer, that the Transferee acknowledge and agree that, upon the receipt of any such Gross-up Payment, the Transferee shall have an
obligation to restore such Gross-up Payment to us; and </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">iii.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">provide the Remarketing Agent and such Transferee with instructions for the transmittal of such Gross-up Payment, as and when received; it being understood and agreed
that none of the Trustor, the Tax Responsible Partner, the Trustee, the Tender Agent, the Remarketing Agent, DTC or our DTC Participant shall be liable for any failure by the Transferee to so transmit such Gross-up Payment to us.
</FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">F. We understand that a restrictive legend will be placed on the Certificates. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">4. We authorize and instruct our DTC Participant to disclose to the Trustee or the Remarketing Agent such information concerning our
Beneficial Ownership of Certificates as such party shall request. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">5. This Purchaser Letter is not a commitment by us to
purchase any Certificates. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">6. We represent and agree as follows: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">A. We understand and expressly acknowledge that the Certificates have not been and will not be registered under the Securities Act of
1933, as amended (the &#147;Securities Act&#148;), or any applicable state securities laws, and accordingly, that the Certificates may not be Transferred, pledged or hypothecated unless an applicable exemption from the registration requirements of
the Securities Act and any applicable state securities laws is available. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">B. We understand and expressly acknowledge that the
Trust is not registered as an investment company under the Investment Company Act of 1940, as amended (the &#147;Investment Company Act&#148;), but that the Trust is exempt from registration as such by virtue of Section&nbsp;3(c)(7) of the
Investment Company Act, which in general excludes from the definition of an investment company any issuer, the outstanding securities of which are owned exclusively by persons who, at the time of acquisition of such securities, are &#147;qualified
purchasers&#148; (each, a &#147;QP&#148;) as defined in Section&nbsp;2(a)(51)(A) of the Investment Company Act and regulations thereunder, which issuer is not making and does not at that time propose to make a public offering of such securities.
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">I-2
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">C. We were not formed solely to acquire the Certificates or the Certificates of any
particular Series and are not an investment company (or other entity) relying on Section&nbsp;3(c)(1) of the Investment Company Act for exemption from registration thereunder. We understand that we may not transfer or otherwise dispose of any
Certificates except to a transferee who provides a written certificate to similar effect to the Remarketing Agent. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">D. We
hereby confirm that all prior and current purchases of Certificates by us have been, and any future purchases of Certificates by us will be, for our own account, and not with a view to any public resale or distribution thereof. We represent that we
will at all times prior to the transfer by us of any Certificates remain the sole Beneficial Owner of such Certificates. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%;padding-bottom:0px;"><FONT
STYLE="font-family:Times New Roman" SIZE="2">E. We are (I)&nbsp;(A)&nbsp;a &#147;qualified institutional buyer&#148; as defined in Rule 144A under the Securities Act that is (i)&nbsp;a registered closed-end management investment company the shares
of which are traded on a national securities exchange; (ii)&nbsp;a bank (or a direct or indirect wholly-owned subsidiary thereof); (iii)&nbsp;an insurance company; (iv)&nbsp;a Broker-Dealer</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">1</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">; (v)&nbsp;a Foreign Entity</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">2</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> (or a direct or indirect wholly-owned subsidiary thereof);(vi)&nbsp;a company that is included in the S&amp;P 500 Index
(or a direct or indirect wholly-owned subsidiary thereof); or (vii)&nbsp;a registered open-end management investment company; and (B)&nbsp;a QP with respect to the Certificates purchased or to be purchased by us; <U>and </U>(II) not a resident of
Canada. </FONT></P> <P STYLE="line-height:8px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"></FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">1</SUP>&nbsp;</FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2"></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">For purposes hereof, <B>&#147;Broker-Dealer</B>&#148; shall mean any registered broker-dealer that has indicated on its BrokerCheck Report (available
on FINRA BrokerCheck) under &#147;Firm Operations&#151;Types of Business&#148; that it is engaged in each of the following business lines: (i)&nbsp;&#147;Broker or dealer retailing corporate equity securities over-the-counter;&#148; and
(ii)&nbsp;&#147;Underwriter or selling group participant&#148; (of any type of securities); provided that, if FINRA shall discontinue the existence of BrokerCheck, &#147;Broker-Dealer&#148; shall mean any registered broker-dealer that engages in
such business lines or substantively equivalent business lines as indicated on whatever publicly available information source that replaces FINRA BrokerCheck; provided further that if no publicly available information source replaces FINRA
BrokerCheck, &#147;Broker-Dealer&#148; shall mean any registered broker dealer. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"></FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">2</SUP>&nbsp;</FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2"></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">For purposes hereof, <B>&#147;Foreign Entity</B>&#148; shall mean any non-U.S. entity that is an Operating Company whose equity securities (or
depositary receipts) are publicly traded and&nbsp;has a market capitalization of a U.S. dollar equivalent of not less than U.S.$1,000,000,000 on the trade date for the proposed transfer of Certificates or interests therein. For purposes of this
definition, &#147;<B>Operating Company</B>&#148; shall mean any company that (i)&nbsp;is not, and does not hold itself out as being engaged primarily in the business of investing, reinvesting, owning, holding or trading in securities and does not
own securities having a value exceeding 50% of the value of such company&#146;s total assets as set forth on such company&#146;s most recently publicly available financial statement; or (ii)&nbsp;is a banking institution, insurance company or
broker-dealer, incorporated or organized under the laws of a country other than the United States, or a political subdivision of a country other than the United States that is regulated as such by that country&#146;s or subdivision&#146;s government
or any agency thereof. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">I-3
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">F. Neither we nor anyone acting on our behalf has offered or sold or will offer or sell any
Certificates by means of any form of general solicitation or general advertising or has taken or will take any action that would constitute a distribution of Certificates under the Securities Act, would render the disposition of Certificates a
violation of Section&nbsp;5 of the Securities Act or any state or other securities law or would require registration or qualification pursuant thereto. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">G. We have received or expect to receive a copy of the PPM relating to the Certificates, and to the extent that we have required or will require additional documents or information concerning the
Certificates or the Bonds underlying the Certificates, in addition to the PPM, we have obtained or will request and obtain such other documents or information. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">7. With respect to each Trust: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">A. For ourselves and for each present and future
Beneficial Owner of Certificates purchased by us, we acknowledge and agree that (a)&nbsp;absent a change in law or written request of a taxing authority, we will treat the Trust as a partnership for federal income tax purposes and any other purpose
that conforms to federal and (where relevant) state and local income tax law (but for no other purpose) and ourselves as partners therein and (b)&nbsp;no election under Section&nbsp;761 of the Code will be made to exclude the Trust from the
application of all or part of the provisions of Subchapter K of the Code; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">B. We consent to the Trust&#146;s making a Monthly
Closing Election under Revenue Procedure 2003-84. We acknowledge that this election is binding on all present and future Holders of Certificates, Beneficial Owners, and other persons treated as partners in the Trust for federal income tax purposes
and each of their nominees. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">C. We consent to the Trust&#146;s obtaining an employer identification number and to the
authorization of the Trustee, the Trustor, and each of their accountants to obtain such number on behalf of the Trust and to the delegation of such authority to their respective agents. We hereby appoint the Trustee, the Trustor, and each of their
accountants as our agent and attorney-in-fact for the purpose of obtaining such number. This appointment is coupled with an interest and is irrevocable. We shall take any reasonably requested action that is necessary to codify, ratify or otherwise
further this appointment. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">D. We consent to the Trust&#146;s filing an abbreviated Form 1065, &#147;U.S. Return of Partnership
Income,&#148; as required by and in the format outlined in section 8.01 of Revenue Procedure 2003-84, and to the authorization of the Trustee, the Trustor, and each of their accountants to sign the abbreviated return, and to the delegation of such
authority to their respective agents. We hereby appoint the Trustee, the Trustor, and each of their accountants as our agent and attorney-in-fact for the purpose of filing the abbreviated Form 1065. This appointment is coupled with an interest and
is irrevocable. We shall take any reasonably requested action that is necessary to codify, ratify or otherwise further this appointment. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">E. We consent to the Trustor&#146;s appointment as Tax Responsible Partner for the Trust and we hereby appoint the Trustor as our agent and attorney-in-fact for the purpose of acting on our behalf (but at
its own expense) in complying with the obligations of Tax Matters Partner for the Trust in the remote event that we become the Tax Matters Partner for the Trust. We shall take any reasonably requested action necessary to codify, ratify or otherwise
further this appointment. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">I-4
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">8. [Check and Complete One Subsection:] </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We are the manager or advisor (the &#147;Manager&#148;) for one or more regulated investment companies (&#147;Funds&#148;) identified on
Appendix A hereto, and, in such capacity, we agree to collect, retain and provide to the Internal Revenue Service (&#147;IRS&#148;) or the Tax Responsible Partner on behalf of the Trust the information required to be collected, retained and provided
to the IRS or the Trust under section 8.04 of Revenue Procedure 2003-84. We will (or will cause our agents to) notify the Tax Responsible Partner of (1) the names, CUSIP numbers or other identifying information and amounts of Certificates that are
owned or have been owned by all of the Funds that we manage or advise and (2) our name, address, taxpayer identification number, and the contact information for the person from whom the IRS may request Beneficial Ownership information, (i) either
(a) substantially contemporaneously with, or immediately following, the acquisition of any Certificates or (b) otherwise, at least quarterly and (ii) within ten (10) business days of a request for such information if the IRS has requested such
information from the Trust or the Tax Responsible Partner. We understand that no particular format is required for such notice; provided, however, that such notice must be in writing, by fax, e-mail, or other similar electronic communication medium
and in a format reasonably satisfactory to the Tax Responsible Partner. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For purposes of any such notice the following is
incorporated herein by reference: </FONT></P> <P STYLE="font-size:4px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manager&#146;s&nbsp;Name:&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="border-bottom:1px solid #000000">&nbsp;</P></TD></TR>
</TABLE></DIV> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manager&#146;s&nbsp;Address:&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="border-bottom:1px solid #000000">&nbsp;</P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="border-bottom:1px solid #000000">&nbsp;</P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="border-bottom:1px solid #000000">&nbsp;</P></TD></TR>
</TABLE></DIV> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="37%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="61%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manager&#146;s&nbsp;Employer&nbsp;Identification&nbsp;Number:&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="border-bottom:1px solid #000000">&nbsp;</P></TD></TR></TABLE></DIV> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD WIDTH="93%"></TD></TR>

<TR>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em;"><FONT STYLE="font-family:Times New Roman" SIZE="2">d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contact information for the person from whom the IRS may
request</FONT></P></TD></TR></TABLE> <P STYLE="font-size:1px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="75%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="25%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="72%"></TD></TR>

<TR>
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">BeneficialOwnership&nbsp;information:&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="border-bottom:1px solid #000000">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="88%"></TD></TR>


<TR STYLE="font-size:1px">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We agree to notify (or, if we are not the Beneficial Owner of a Certificate, to cause such Beneficial
Owner to notify) the Tax Responsible Partner on behalf of the Trust of our Beneficial Ownership of a Certificate and to provide the Tax Responsible Partner on behalf of the Trust all information required by section 8.04 of Revenue Procedure 2003-84.
We will (or will cause our agents to) notify the Tax Responsible Partner of (1) the names, CUSIP numbers or other identifying information and amounts of Certificates that we beneficially own, (2) our name, address, taxpayer identification number,
and (3) our nominee&#146;s name, address, taxpayer identification number, substantially contemporaneously with, or immediately following, the acquisition of any Certificates. We understand that no particular format is required for such notice;
provided, however, that such notice must be in writing, by fax, e-mail, or other similar electronic communication medium and in a format reasonably satisfactory to the Tax Responsible Partner. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">I-5
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For purposes of any such notice the following is incorporated herein by reference:
</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:4.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our&nbsp;Name:&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="85%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:4.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our&nbsp;Address:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="27%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="70%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:4.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our&nbsp;Taxpayer&nbsp;Identification&nbsp;Number:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="83%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:4.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our&nbsp;Nominee&#146;s&nbsp;Name:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="81%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:4.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">e.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our&nbsp;Nominee&#146;s&nbsp;Address:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="37%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="61%"></TD></TR>


<TR>
<TD VALIGN="top">
<P STYLE="margin-left:4.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">f.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our&nbsp;Nominee&#146;s&nbsp;Taxpayer&nbsp;Identification&nbsp;Number:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">9. This Purchaser Letter shall be for the benefit of each of the following parties participating in each
Series of which we hold any Certificates: the Trustor, the Trustee, the Tender Agent, DTC, any DTC Participant through which we hold Certificates, the Remarketing Agent, the Liquidity Bank, and any Transferor to or Transferee from the Undersigned.
We recognize that such parties will rely upon the truth and accuracy of the representations and agreements set forth in this Purchaser Letter and we agree that each of our purchases of Certificates now or in the future shall be deemed to constitute
our concurrence in and ratification of the entire contents of this Purchaser Letter and shall apply equally to any such subsequent purchase. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">10. If this Purchaser Letter is signed by a Manager on behalf of one or more Funds, the Manager hereby represents and warrants that (i)&nbsp;each of the statements, agreements, covenants and
representations and warranties herein are made on behalf of each such Fund and are true and correct in all material respects with respect to each such Fund, and (ii)&nbsp;the Manager is authorized to execute this Purchaser Letter on behalf of each
such Fund. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">I-6
</FONT></P>


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<TR>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD COLSPAN="3" VALIGN="top"> <P STYLE="border-bottom:1px solid #000000">&nbsp;</P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">(Name of Purchaser)</FONT></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="3"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Mailing Address of Purchaser:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD COLSPAN="3" VALIGN="top"> <P STYLE="border-bottom:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD COLSPAN="3" VALIGN="top"> <P STYLE="border-bottom:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="3"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">DTC Participant:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Purchaser&#146;s Taxpayer ID Number:</FONT></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="3"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-size:1px">
<TD COLSPAN="3" VALIGN="top"> <P STYLE="border-bottom:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Number:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">I-7
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<DOCUMENT>
<TYPE>EX-99.6
<SEQUENCE>7
<FILENAME>d358731dex996.htm
<DESCRIPTION>EX-99.6
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.6</TITLE>
</HEAD>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>EXHIBIT 99.6 </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="margin-top:4px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">MASTER TERMS OF TRUST AGREEMENT
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">dated as of August&nbsp;1, 2006 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">with respect to </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Floater Certificates </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">(&#147;Floater Certificates&#148;) </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Residual Certificates </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">(&#147;Residual Certificates&#148;) </FONT></P> <P STYLE="font-size:8px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>TABLE OF CONTENTS </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Page</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE I DEFINITIONS AND CONSTRUCTION</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;1.01. Certain Definitions</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;1.02. Rules of Construction</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">21</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE II CREATION OF SERIES TRUSTS</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">21</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;2.01. Creation of Trusts</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">21</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;2.02. Acquisition of Bonds and Provision of Liquidity Facility for the Trust</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">22</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;2.03. Obligations of Trustee and the Trustor</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">23</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;2.04. Holders&#146; Direct Interests; Relationship between Related Stated Amounts and Bond Base
Price</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">24</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;2.05. Tax Matters</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">24</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;2.06. Tax Responsible Partner&#146;s Obligations with respect to Revenue Procedure 2003-84</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">29</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;2.07. Intention of Parties</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">29</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE III INTEREST DISTRIBUTIONS</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">30</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;3.01. Method of Payment; Trustee Agent for Payment of Fees</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">30</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;3.02. Date and Priority of Distribution of Bond Interest</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">30</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;3.03. Trustee Fee and Remarketing and Liquidity Charges</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">31</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;3.04. Interest Distributable on Floater Certificates</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">32</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;3.05. Determination of Floater Certificate Rate</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">32</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;3.06. Interest Distributable on Residual Certificates</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">33</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;3.07. Trustee Advances</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">33</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE IV OPTIONAL TENDER</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">34</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;4.01. Optional Tender in Daily, Weekly, Monthly and Term Mode</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">34</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;4.02. Holders to Comply with Tender Procedures</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">35</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE V TENDER OPTION TERMINATION EVENTS, LIQUIDITY EVENTS AND MANDATORY TENDER EVENTS</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">36</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;5.01. Tender Option Termination Events and Liquidity Events</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">36</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;5.02. Mandatory Tender Events</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">38</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE VI TRANSFER OF ADDITIONAL BONDS; WITHDRAWAL OF BONDS</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">46</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;6.01. Transfer of Additional Bonds After the Deposit Date</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">46</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;6.02. Right of Withdrawal</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">48</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;6.03. Change in Proportionality</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">50</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;6.04. Mandatory Tender of Floater Certificates Upon Demand of Residual Certificates Holder</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">52</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">i </FONT></P>


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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE VII CHANGE OF RATE MODE</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">54</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;7.01. Selection of Rate Mode</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">54</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;7.02. Changes Among Rate Modes; Changes in Term Periods</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">55</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE VIII THE LIQUIDITY FACILITY</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">56</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;8.01. Obligations of the Liquidity Bank</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">56</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;8.02. Concerning the Liquidity Facility</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">56</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;8.03. Substitution of Liquidity Facility</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">57</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE IX PROCEDURES FOR PURCHASE AND REMARKETING</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">58</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;9.01. Purchase of Floater Certificates Delivered to Tender Agent for Purchase; Delivery of Floater
Certificates</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">58</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;9.02. Remarketing of Floater Certificates</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">60</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;9.03. Procedures when Floater Certificates Deposited with DTC</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">61</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;9.04. Repayment of Liquidity Loans</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">62</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE X THE SECURITIES</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">62</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.01. Ownership of Underlying Bonds; Voting</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">62</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.02. Form and Numbering of Certificates</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">63</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.03. Details of Certificates</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">63</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.04. Validity of Certificates</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">64</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.05. Exchange of Certificates</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">64</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.06. Registration and Transfer of Certificates</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">64</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.07. Ownership of Certificates</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">65</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.08. Issuance of Certificates; Prior Accrued Bond Interest</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">65</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.09. Temporary Certificates</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">67</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.10. Mutilated, Destroyed, Lost or Stolen Certificates</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">68</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.11. Book-Entry Only System for Certificates</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">68</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.12. Limitations on Transfer</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">70</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE XI REDEMPTION</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">72</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;11.01. General</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">72</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;11.02. Selection for Redemption</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">73</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;11.03. Redemption Notice</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">74</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;11.04. Effect of Calling for Redemption</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">75</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;11.05. Redemption of Portion of Certificates</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">75</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;11.06. Cancellation</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">75</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;11.07. Revocation of Redemption Notice</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">75</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;11.08. Amounts in Excess of Floater Certificates in Authorized Denominations to be Deposited in the Odd-Lot
Subaccounts</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">75</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;11.09. Special Redemption of Certificates</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">76</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE XII CERTAIN COVENANTS OF THE PARTIES</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">78</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;12.01. Covenant to Perform and Authority of the Trustor</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">78</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;12.02. Covenants of the Tax Responsible Partner as to the Tax Responsible Partner&#146;s Required Controlling
Interest</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">78</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;12.03. Covenant of the Parties not to place Trust into Bankruptcy</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">78</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;12.04. Credit Ratings</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">78</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">ii </FONT></P>



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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE XIII THE TRUSTEE, THE TENDER AGENT AND THE REMARKETING AGENT</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">79</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.01. Acceptance of Duties; Purposes and Powers; No Additional Liabilities or Indebtedness</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">79</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.02. Limited Liability</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">79</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.03. Tender Agent</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">80</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.04. Fidelity Bond</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">81</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.05. Indemnification of Trustee and Tender Agent</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">81</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.06. Monthly Statements from Trustee</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">83</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.07. Reliance; Advice of Counsel</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">83</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.08. Resignation, Removal and Replacement of Trustee and Tender Agent</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">84</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.09. Default on Bonds</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">84</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.10. Notice of Certain Defaults</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">85</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.11. Remarketing Agent</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">85</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ARTICLE XIV MISCELLANEOUS</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">85</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;14.01. Waiver of Jury Trial; Governing Law; Submission to Jurisdiction</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">85</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;14.02. Notices</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">86</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;14.03. Binding Agreement</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">89</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;14.04. Amendments</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">89</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;14.05. Termination</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">93</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;14.06. Section&nbsp;14.6. Severability</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">93</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;14.07. Beneficiaries</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">93</FONT></TD></TR>
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<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">EXHIBIT&nbsp;A</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">FORM OF FLOATER CERTIFICATE</FONT></TD></TR>
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<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">EXHIBIT&nbsp;B</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">FORM OF RESIDUAL CERTIFICATE</FONT></TD></TR>
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<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">EXHIBIT&nbsp;C</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">FORM OF ADDITIONAL DEPOSIT NOTICE</FONT></TD></TR>
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<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">EXHIBIT&nbsp;D</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">FORM OF WITHDRAWAL REQUEST</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">EXHIBIT&nbsp;E</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">FORM OF DEMAND FOR MANDATORY TENDER OF FLOATER CERTIFICATES</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">EXHIBIT&nbsp;F</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">FORM OF PURCHASER LETTER</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">EXHIBIT&nbsp;G</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">FORM OF ELECTION LETTER</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">EXHIBIT&nbsp;H</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">FORM OF NOTICE OF CHANGE IN PROPORTIONALITY</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">EXHIBIT&nbsp;I</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">FORM OF NOTICE OF ELECTION TO RETAIN</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">iii
</FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>MASTER TERMS OF TRUST AGREEMENT </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This document constitutes the Master Terms of Trust Agreement, dated as of August&nbsp;1, 2006, which is to be incorporated by reference
in, and attached as Exhibit A to, one or more Series Trust Agreements (each, a &#147;Series Trust Agreement&#148;) by and between the entity identified as the Trustor in the related Series Trust Agreement (together with its successors and assigns,
the &#147;Trustor&#148;) and the entity identified as the Trustee and Tender Agent in the related Series Trust Agreement (together with its successors and assigns, the &#147;Trustee&#148; or the &#147;Tender Agent&#148;). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">WHEREAS, the Trustor and the Trustee may, from time to time, create one or more trusts (each, a &#147;Trust&#148;) pursuant to a Series
Trust Agreement; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">WHEREAS, the Trustor (i)&nbsp;shall deliver, or cause to be delivered, to the Trustee on the Deposit Date
(as defined herein) and from time to time thereafter certain municipal securities (the &#147;Bonds&#148;), which the Trustee shall hold in trust, (ii)&nbsp;shall provide for the creation, execution and delivery of RBC Municipal Floater Certificates
(the &#147;Floater Certificates&#148;) and RBC Municipal Residual Certificates (the &#147;Residual Certificates&#148; and, together with the Floater Certificates, collectively, the &#147;Certificates&#148;), (iii)&nbsp;shall cause the Liquidity Bank
to deliver to the Trustee the Liquidity Facility (as defined herein) with respect to such Floater Certificates on the Deposit Date and (iv)&nbsp;shall cause the Remarketing Agent to enter into the Remarketing Agreement (as defined herein) with
respect to such Certificates on or before the Deposit Date. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">WHEREAS, the terms and provisions set forth in this Master Terms
of Trust Agreement shall govern the Certificates of any Series, unless contrary terms and provisions are expressly adopted in a Series Trust Agreement, in which case, such contrary terms and provisions of such Series Trust Agreement shall be
determinative; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">NOW THEREFORE, in consideration of the mutual agreements herein contained, each of the parties hereto agrees
as follows for the benefit of each other and for the benefit of the Holders and Beneficial Owners of each Series of Certificates. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE I </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>DEFINITIONS AND CONSTRUCTION </B></FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;1.01. <U>Certain Definitions</U> . Each capitalized term used herein shall have the meaning set forth in this
Section&nbsp;1.1 unless the context otherwise requires: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Accredited Investor</B>&#148; shall mean an &#147;accredited
investor&#148; of one of the types described in Rule 501 of Regulation D under the Securities Act. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Accrued Interest
on Bonds</B>&#148; shall have the meaning set forth in Section&nbsp;10.8(d). The amount of Accrued Interest on Bonds with respect to any Maturity of Bonds is set forth in the Series Trust Agreement or Additional Deposit Notice, as applicable.
</FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Accrued Market Discount</B>&#148; shall mean, with respect to any Maturity of
Bonds, the amount of market discount that has accrued on such Maturity since the Deposit Date or the Additional Deposit Date, as the case may be, as calculated in determining the Base Price for such Maturity as of the date of determination.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Accrued OID</B>&#148; shall mean, with respect to any Maturity of Bonds, the amount of original issue discount that
has accrued on such Maturity since the Deposit Date or the Additional Deposit Date, as the case may be (as reduced by any acquisition premium), as calculated in determining the Base Price for such Maturity as of the date of determination.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Act of Bankruptcy</B>&#148; shall mean, with respect to any Person, (i)&nbsp;a petition for involuntary bankruptcy
shall have been filed against such Person, which either shall result in an order granting the bankruptcy relief requested in such petition (including but not limited to an order for relief under Chapter 7 or 11 under the Bankruptcy Code) or shall
remain undismissed and unstayed for a period of 60 days; (ii)&nbsp;a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver or liquidator in any insolvency,
readjustment of debt, marshalling of assets and liabilities or similar proceeding, or for the winding up or liquidation of its affairs, shall have been entered against such Person, which shall remain undismissed and unstayed for a period of 60 days;
(iii)&nbsp;the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of such Person or of a substantial part of its property for purposes of distributing such Person&#146;s assets or winding up such
Person&#146;s affairs which shall remain unstayed for a period of 60 days; or (iv)&nbsp;such Person shall have: (a)&nbsp;commenced a voluntary action under applicable bankruptcy laws, (b)&nbsp;filed a petition seeking to take advantage of any other
laws, domestic or foreign, to effect such Person&#146;s bankruptcy, insolvency, reorganization, debt adjustment, winding up or composition or adjustment of debts, (c)&nbsp;consented to a petition filed against it in an involuntary case under such
bankruptcy laws or other laws, (d)&nbsp;taken any formal action which results in a publicly available written statement of action duly approved by an authorized committee or governing body, as appropriate, that admits without condition such
Person&#146;s inability to make payments on its debts as they become due, (e)&nbsp;generally not been paying principal of or interest on its material obligations as they become due (except as a result of a dispute regarding such obligations), or
(f)&nbsp;made a general assignment for the benefit of creditors. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Actual/Actual Basis</B>&#148; shall mean, when used
with respect to any interest or fee calculation, that such interest or fee shall be calculated on the basis of a 365-day or 366-day year and the actual number of days elapsed. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Actual/Three Sixty Basis</B>&#148; shall mean, when used with respect to any interest or fee calculation, that such interest or fee shall be calculated on the basis of a 360-day year (12 months
of 30 days each) and the actual number of days elapsed. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Additional Deposit Date</B>&#148; shall have the meaning set
forth in Section&nbsp;6.1(a). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Additional Deposit Notice</B>&#148; shall have the meaning set forth in
Section&nbsp;6.1(c). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Agreement</B>&#148; shall mean this Master Terms of Trust Agreement, as supplemented from time
to time by a Series Trust Agreement in connection with the delivery of a Series of Certificates, including all exhibits, schedules, appendices, supplements and amendments to each. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Amortization Schedule of Base Prices</B>&#148; shall mean, with respect to any
Maturity of Bonds of any Series, a schedule attached to the Series Trust Agreement, setting forth the Base Prices, the Floater Certificate Redemption Amounts (and, if Proportionality shall have been adopted in such Series Trust Agreement, the
Residual Certificate Redemption Amounts) on the Bond Interest Payment Dates listed therein (which redemption amounts shall be determined in accordance with Section&nbsp;171(c) of the Code and the regulations thereunder) used in determining the
Stated Amount of such Certificates to be redeemed in accordance with Section&nbsp;11.9 of this Agreement on such Bond Interest Payment Dates. An Amortization Schedule of Base Prices, with respect to any Maturity of Bonds, shall be attached to the
Series Trust Agreement for each Premium Funded Series. If the Floater Certificate Redemption Amounts are determined in any manner other than in accordance with Section&nbsp;171(c) of the Code and the regulations thereunder, the Trustor shall cause
the Series Trust Agreement to explicitly disclose that the determination of such amounts varies from the definition used herein. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Amortized Premium</B>&#148; shall mean, with respect to any Maturity of Bonds, the amount of the premium that has amortized on such Maturity since the Deposit Date or the Additional Deposit Date,
as the case may be, as calculated in determining the Base Price for such Maturity as of the date of determination. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Amount Available</B>&#148; shall mean, with respect to the Liquidity Facility for any Series from time to time, the amount for
which the Liquidity Bank is obligated to honor drawings under such Liquidity Facility. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Authorized
Denominations</B>&#148; shall mean, with respect to any Series, the denominations in which Certificates of such Series may be issued. The Authorized Denominations for the Floater Certificates and the Residual Certificates of any Series are set forth
as such in the Series Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Authorized Trustee Officer</B>&#148; shall mean the Chairman of the Board,
each Executive Officer, President, Senior Vice President, Executive Vice President, Managing Director, Vice President, Assistant Vice President, Secretary, Assistant Secretary, Treasurer, Assistant Treasurer, Senior Trust Officer and Trust Officer
of the Trustee and every other officer or employee of the Trustee designated as an &#147;Authorized Trustee Officer&#148; by any of the foregoing for purposes hereof in a communication to the other parties hereto. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Bankruptcy Code</B>&#148; shall mean the United States Bankruptcy Code (Title 11, U.S.C.), as amended from time to time.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Base Price</B>&#148; shall mean, with respect to any Maturity of Bonds on the Deposit Date or an Additional Deposit
Date, as applicable, the Deposit Price of such Maturity of Bonds. The Base Price as of any other date of calculation shall be that price, expressed as a percentage of par, calculated by the Trustor (i)&nbsp;in the case of Bonds with a Deposit Price
in excess of 100%, by amortizing the premium on a constant yield to maturity basis (compounding at the end of each interest period) over the remaining term; or, if the Maturity is callable, to an earlier call date and call price that minimizes the
holder&#146;s yield on the Bonds, all in accordance with the provisions of Section&nbsp;171 of the Code; (ii)&nbsp;in the case of Bonds issued with original issue discount without regard to Deposit Price, by accruing the original issue discount on a
constant yield to maturity basis (as reduced by any acquisition premium), all in accordance with the provisions of Sections 1271 through 1288 of the Code; and (iii)&nbsp;in the case of Bonds with a Deposit Price less than 100%, by accruing the
market discount portion, if any, of the acquisition discount on a straight-line basis, all in accordance with the provisions of Sections 1271 through 1288 of the Code. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Beneficial Owner</B>&#148; shall mean, with respect to any Series, any Person that
owns through a Securities Depository (i)&nbsp;Floater Certificates of such Series, including the Liquidity Bank or the Remarketing Agent if such Person owns Floater Certificates for its own account, or (ii)&nbsp;Residual Certificates Related to any
Maturity of Bonds of such Series; <I>provided </I>that, as of the Deposit Date and as of any date thereafter, there shall be only one Beneficial Owner of the Residual Certificates of any Series. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Bond Base Price</B>&#148; shall mean, with respect to any Maturity of Bonds, an amount equal to the product of (i)&nbsp;the Base
Price of such Maturity, <I>multiplied </I>by (ii)&nbsp;the principal amount of such Maturity. The initial Bond Base Price for each Maturity is set forth as such in the related Series Trust Agreement or related Additional Deposit Notice, as
applicable. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Bond Criteria</B>&#148; shall mean, unless otherwise provided in the Series Trust Agreement, with
respect to any Series: (i)&nbsp;same issue of bonds (but not necessarily the same Maturity or Bond Rate) as the Bonds already transferred to the Trust; (ii)&nbsp;same Principal Credit Source as the Principal Credit Source for the Bonds already
transferred to the Trust; (iii)&nbsp;same Bond Interest Payment Dates as the Bond Interest Payment Dates for the Bonds already transferred to the Trust; (iv)&nbsp;same long-term rating from the Floater Certificate Rating Agency as that assigned to
the Floater Certificates on the Additional Deposit Date as the Bonds already transferred to the Trust; and (v)&nbsp;no market discount in excess of a <I>de minimis </I>amount within the meaning of Section&nbsp;1278(a)(2)(C) of the Code. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Bond Interest Payment Dates</B>&#148; shall mean, with respect to any Bonds, the date or dates in each year on which interest is
payable on such Bonds and set forth as such in the related Series Trust Agreement or in the related Additional Deposit Notice, as applicable. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Bond Rate</B>&#148; shall mean, with respect to any Maturity of Bonds, the interest rate per annum that accrues on such Maturity and set forth as such in the related Series Trust Agreement or
related Additional Deposit Notice, as applicable. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Bond Rating Agency(ies)</B>&#148; shall mean, with respect to any
Bonds, the NRSRO or NRSROs then rating such Bonds. The initial Bond Rating Agency or Agencies for each Series is identified as such in the related Series Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Bond Redemption Date</B>&#148; shall have, with respect to any Bonds, the meaning set forth in Section&nbsp;11.1(b). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Bonds</B>&#148; shall mean, with respect to any Series, the securities identified as such in the related Series Trust Agreement or related Additional Deposit Notice, as applicable. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Business Day</B>&#148; shall mean any day on which banks in New York, New York are generally open for commercial banking
purposes and that is not a day on which the New York Stock Exchange is authorized or obligated by law or executive order to close. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Calculation Period</B>&#148; shall mean each period from (and including) one
Floater Certificate Interest Payment Date to (but excluding) the next Floater Certificate Interest Payment Date, except that the first Calculation Period will commence on the Deposit Date and the last Calculation Period will end on the date of
termination of the Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Certificates</B>&#148; shall have the meaning set forth in the second recital hereto.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Closed Period</B>&#148; shall have the meaning set forth in Section&nbsp;6.2(c). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Corporate Trust Office</B>&#148; shall mean the address designated herein or in the Series Trust Agreement or such other address
as the Trustee may designate from time to time by notice to the other Notice Parties and the Holders. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Code</B>&#148;
shall mean the Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated thereunder. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Daily Mode</B>&#148; shall mean the Rate Mode during which the interest on the Floater Certificates is reset on a daily basis.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Daily Rate</B>&#148; shall mean the per annum interest rate on the Floater Certificates in the Daily Mode determined
pursuant to Section&nbsp;3.5. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Deposit Date</B>&#148; shall mean, with respect to any Series, the first date on which
the Trustee issues all or any portion of the Certificates of such Series. The Deposit Date for each Series is identified in the related Series Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Deposit Price</B>&#148; shall mean, with respect to any Maturity of Bonds on the Deposit Date or Additional Deposit Date, as applicable, the fair market value of the Bonds as of the Deposit Date
or the Additional Deposit Date, as applicable, as determined by the Trustor without regard to any fees or expenses relating to the establishment of the Trust or the additional transfer of the Bonds. The Deposit Price shall be set forth as a
percentage of par for such Maturity of Bonds and designated &#147;Deposit Price&#148; in the Series Trust Agreement or Additional Deposit Notice, as applicable. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Designated Office</B>&#148; shall mean, with respect to each of the parties hereto, the office at the respective address set forth in Section&nbsp;14.2 or, in each case, such office at such other
address as such Party shall have designated in writing to each of the other Notice Parties as provided in Section&nbsp;14.2. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Designated Termination Date</B>&#148; shall be stated separately for each Maturity of Bonds and shall mean the date set forth as
such in the related Series Trust Agreement or in the related Additional Deposit Notice, as applicable, which shall be the Bond Interest Payment Date occurring on or immediately preceding the date of expiration of 80% of the period commencing on the
Deposit Date or the Additional Deposit Date, as the case may be, and ending at the expected remaining average life of such Maturity (taking into account any scheduled sinking fund redemptions, any optional redemptions without premium and any other
expected redemptions, including the dates therefor); <I>provided, however, </I>that, if any such date set forth in a Series Trust Agreement or an Additional Deposit Notice, as applicable, differs from the date determined pursuant to this definition,
the Trustor shall cause such difference to be explicitly disclosed in the Series Trust Agreement or Additional Deposit Notice, as applicable, and the date set forth in such Series Trust Agreement or Additional Deposit Notice shall be determinative.
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Disqualified Transferee</B>&#148; shall have the meaning specified in
Section&nbsp;10.12(h). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>DTC</B>&#148; shall mean The Depository Trust Company or its successors. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>DTC Letter</B>&#148; shall mean, with respect to any Series, the letter of representations from the Trustor, the Trustee and the
Remarketing Agent to DTC of even date with the related Series Trust Agreement relating to the Floater Certificates, and any amendment or replacement thereof. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>DTC Participant</B>&#148; shall mean a member of, or participant in, DTC as provided in the rules and regulations of DTC. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Effective Date</B>&#148; shall have the meaning set forth in Section&nbsp;7.2(c)(i). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Electing Manager</B>&#148; shall have the meaning set forth in Section&nbsp;2.5(h). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Election Letter</B>&#148; shall mean a letter substantially in the form of Exhibit G. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Election to Retain</B>&#148; shall mean the right of a Beneficial Owner of Floater Certificates to retain Floater Certificates that otherwise would be subject to a mandatory tender and purchase
pursuant to clauses (xi)&nbsp;and (xii)&nbsp;of Section&nbsp;5.2(a), which right must be exercised (A)&nbsp;in the case of a Mandatory Tender Date that is the first Business Day of a Term Period, by 2:30 p.m. on the Business Day preceding such
Mandatory Tender Date or (B)&nbsp;otherwise, by 3:00 p.m. on the Business Day that is five Business Days prior to the related Mandatory Tender Date. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Electronic Means</B>&#148; shall mean telecopy, telex, facsimile transmission (&#147;fax&#148;), e-mail or other similar electronic means of communication. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Event of Taxability</B>&#148; shall mean, with respect to any Series, the entry of any decree or judgment by a court of
competent jurisdiction, or the taking of any official action by the IRS or the Department of the Treasury, which decree, judgment or action shall be final under applicable procedural law, which has the effect of a determination that the interest on
any of the Bonds is includable in the gross income of the recipients thereof for federal income tax purposes. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Fee
Calculation Period</B>&#148; shall mean each period from one Bond Interest Payment Date to (but excluding) the next Bond Interest Payment Date, except that the first Fee Calculation Period will commence on the Deposit Date and the last Fee
Calculation Period will end on the date of termination of the Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Fitch</B>&#148; shall mean Fitch, Inc. a
corporation organized and existing under the laws of the State of Delaware, its successors and their assigns, and if such corporation shall be dissolved or liquidated or shall no longer perform the functions of a securities rating agency or provide
ratings on the Floater Certificates, or Bonds, as applicable, Fitch shall be deemed to refer to any other nationally recognized statistical rating organization designated as a substitute by the Trustee with the approval of the Remarketing Agent and
the Liquidity Bank. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">6 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Floater Certificates</B>&#148; shall mean, with respect to any Series, the Floater
Certificates of such Series as set forth in the related Series Trust Agreement, evidencing a beneficial ownership interest in the Bonds identified in such Series Trust Agreement on the terms and conditions set forth in the Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Floater Certificate Interest Amount</B>&#148; shall have the meaning set forth in Section&nbsp;3.4. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Floater Certificate Interest Payment Date</B>&#148; shall have the meaning set forth in Section&nbsp;3.4. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Floater Certificate Rate</B>&#148; shall mean, with respect to any Series for each Interest Period or portion thereof for such
Series, the Daily Rate, the Weekly Rate, the Monthly Rate or the Term Rate; <I>provided </I>that the Floater Certificate Rate shall never be greater than the Maximum Floater Certificate Rate. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Floater Certificate Rating Agency(ies)</B>&#148; shall mean, with respect to any Series, the NRSRO or NRSROs then rating the
Floater Certificate of such Series. The initial Floater Certificate Rating Agency or Agencies for each Series is identified as such in the related Series Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Floater Certificate Ratio</B>&#148; shall mean, with respect to any Series, a percentage derived by <I>dividing </I>(i)&nbsp;the market value of the Bonds underlying such Series determined by a
Quotation of Bond Price, by (ii)&nbsp;the aggregate Stated Amount of Outstanding Floater Certificate of such Series. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Floater Certificate Redemption Amount</B>&#148; shall mean the Stated Amount of Floater Certificate to be redeemed as provided
in Section&nbsp;11.9 and as set forth on the related Amortization Schedule of Base Prices. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Gain Share</B>&#148;
shall mean, with respect to any Maturity of Bonds and any Holders of the affected portion (up to 100%) of the Related Stated Amount of Floater Certificates Selected by Lot whose Floater Certificates have been redeemed or purchased in connection with
any redemption or sale of the Bonds of such Maturity, the <I>pro rata </I>share to which such Holders of Floater Certificates are entitled of the product of (x)&nbsp;5%, <I>multiplied </I>by (y)&nbsp;the excess, if any, of (A)&nbsp;the redemption or
sale price of the Bonds of such Maturity (not including accrued and unpaid interest), <I>minus </I>(B)&nbsp;the Bond Base Price of the Bonds of such Maturity redeemed or sold. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Grace Period</B>&#148; means, with respect to any Series, the five-day grace period set forth in clause (ii)&nbsp;of the definition of &#147;Tender Option Termination Event.&#148; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Holder</B>&#148; shall mean a Person in whose name a Certificate is registered in the registration books provided for in
Section&nbsp;10.6, which as to all Floater Certificates of any Series shall be DTC, unless DTC ceases to be the Securities Depository for the Floater Certificates of such Series. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Indemnitees</B>&#148; shall have the meaning set forth in Section&nbsp;13.5(a). </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Initial Interest Period</B>&#148; shall mean, with respect to any Series, the
period set forth as such in the related Series Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Initial Rate</B>&#148; shall mean, with respect to
any Series, the Floater Certificate Rate which shall prevail during the Initial Interest Period for such Series; the Initial Rate shall be provided upon request made to the Remarketing Agent. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Initial Rate Mode</B>&#148; shall mean, with respect to any Series, the Rate Mode set forth as such in the related Series Trust
Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Interest Period</B>&#148; shall mean, (i)&nbsp;with respect to Floater Certificates in the Daily Mode,
the period commencing on a Business Day and ending on the day prior to the following Business Day; (ii)&nbsp;with Floater Certificates in the Weekly Mode, the period beginning on each Thursday and ending on the following Wednesday; (iii)&nbsp;with
respect to Floater Certificates in the Monthly Mode, the period commencing on the first day of each month and ending on the last day of such month; and (iv)&nbsp;with respect to Floater Certificates in the Term Mode, the period beginning on the
first day of each Term Period and ending on the last day of such Term Period; <I>provided, however, </I>that a new Interest Period shall begin on each Mode Change Date and end on the next Business Day in the case of a change to the Daily Mode, on
the next succeeding Wednesday in the case of a change to the Weekly Mode, on the last day of the calendar month in the case of a change to the Monthly Mode and on the day preceding the beginning of a new Term Period in the case of a change to the
Term Mode. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Investment Company Act</B>&#148; shall mean the Investment Company Act of 1940, as amended from time to
time. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>IRS</B>&#148; means the Internal Revenue Service. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Issuer</B>&#148; shall mean, with respect to any Series, the state or local governmental entity that is the issuer of the
related Bonds and identified as such in the related Series Trust Agreement or in the related Additional Deposit Notice, as applicable. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Last Designated Termination Date</B>&#148; shall mean, with respect to any Series, the Designated Termination Date occurring last in time. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Level of Proportionality</B>&#148; shall mean, with respect to each Maturity of any Series, if Proportionality has been adopted,
the ratio of the Related Stated Amount of Floater Certificates of such Maturity to the Stated Amount of Related Residual Certificates, and if Proportionality has not been adopted, 100%. If Proportionality shall have been adopted in the Series Trust
Agreement, or if Proportionality shall be adopted in connection with any change in the Level of Proportionality pursuant to Section&nbsp;6.3, the applicable Level of Proportionality will be specified for each Maturity of such Series in the related
Series Trust Agreement or in the Notice of Change in Proportionality, as the case may be. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Liquidity Bank</B>&#148;
shall mean, with respect to any Series, the liquidity bank designated as such in the related Series Trust Agreement, or the provider of any Substitute Liquidity Facility delivered pursuant to Section&nbsp;8.3, together with its successors and
assigns as such. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">8 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Liquidity Bonds</B>&#148; shall mean, with respect to any Series, Bonds that are
owned by the Liquidity Bank or its nominee as a result of the distribution pursuant to Article V of the Bonds underlying Liquidity Floater Certificates. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Liquidity Event</B>&#148; shall mean, with respect to any Series, the failure by the Liquidity Bank to fund any Liquidity Loan when requested by the Trustee under the Liquidity Facility.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Liquidity Facility</B>&#148; shall mean, with respect to any Series, the irrevocable letter of credit, standby
purchase agreement, revolving credit agreement or other form of liquidity agreement delivered by the Liquidity Bank designated as such in the related Series Trust Agreement, or the Substitute Liquidity Facility delivered in substitution for either
thereof pursuant to Section&nbsp;8.3, including all exhibits, schedules, appendices, supplements and amendments to any thereof. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Liquidity Fee Rate</B>&#148; shall mean, with respect to any Series, the percentage set forth as such in the related Series
Trust Agreement; <I>provided </I>that, if a Liquidity Event occurs and is continuing, the Liquidity Fee Rate on and after the occurrence of such Liquidity Event shall be zero. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Liquidity Floater Certificates</B>&#148; shall mean, with respect to any Series, Floater Certificates that are purchased with the proceeds of a draw by the Trustee under the Liquidity Facility.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Liquidity Loans</B>&#148; shall mean, with respect to any Series, the loans made by the Liquidity Bank to the
Trustee on behalf of the Trust pursuant to the Liquidity Facility. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Mandatory Tender Date</B>&#148; shall have the
meaning set forth in Section&nbsp;5.2(d). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Mandatory Tender Event</B>&#148; shall have the meaning set forth in
Section&nbsp;5.2(a). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Master Terms of Trust Agreement</B>&#148; shall mean this Master Terms of Trust Agreement,
dated as of August&nbsp;1, 2006, including all schedules, exhibits, appendices and amendments hereto. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Maturity</B>&#148; or &#147;<B>Maturity of Bonds</B>&#148; shall mean, with respect to any Series, the portion of the related
Bonds issued by a particular Issuer maturing on a given date. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">9 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Maximum Floater Certificate Rate</B>&#148; shall mean, as of any Rate Determination
Time, that Floater Certificate Rate, calculated on the Actual/Actual Basis, which, if such rate were to continue in effect until the end of the Calculation Period within which a Floater Certificate Rate is being determined, after taking into account
all Floater Certificate interest theretofore accrued in such Calculation Period, would result in the Floater Certificate Interest Amount for the aggregate Stated Amount of Floater Certificates Outstanding at the end of such Calculation Period being
equal to the lesser of (i)&nbsp;the Adjusted Bond Coupon Amount at the end of such Calculation Period and (ii)&nbsp;the Adjusted Bond Yield Amount at the end of such Calculation Period. If a Floater Certificate Rate would be in effect during more
than one Calculation Period, the Maximum Floater Certificate Rate shall be the lowest Maximum Floater Certificate Rate for any Calculation Period during which the Floater Certificate Rate is in effect. For purposes of this definition: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) &#147;Adjusted Bond Coupon Amount&#148; shall mean, on any Bond Interest Payment Date, an amount equal to the amount
of interest that would have accrued on the aggregate principal amount of Bonds of all Maturities in the Trust on such Bond Interest Payment Date during the related Calculation Period if such Bonds had borne interest at a per annum rate equal to the
Bond Rate of the Maturity with the lowest Bond Rate <I>less</I>: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(A) the Trustee Fee and the Remarketing and
Liquidity Charges payable on such Bond Interest Payment Date; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(B) the aggregate of an amount for each
Maturity determined by <I>multiplying </I>the Related Maximum Odd-Lot Amount by 100% of the Bond Rate and <I>multiplying </I>the result by a fraction the numerator of which shall be the number of days in a Calculation Period and the denominator of
which is 365 or 366. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) &#147;Adjusted Bond Yield Amount&#148; shall mean, on any Bond Interest Payment
Date, the sum of: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(A) with respect to each Maturity in the Trust that has a Deposit Price of greater than
100.00, an amount equal to the sum of: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:13%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1) the product of the Bond Base Price of the Bonds of such Maturity,
<I>multiplied</I> by the Deposit Yield (adjusted for the length of the related Calculation Period) for such Maturity, <I>multiplied</I> by a fraction the numerator of which is the initial Related Stated Amount of Floater Certificates of such
Maturity and the denominator of which is the initial Bond Base Price of such Maturity, <I>plus</I> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:13%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2) the
product of the principal amount of the Bonds of such Maturity, <I>multiplied</I> by the Alternate Deposit Yield (adjusted for the length of the related Calculation Period) for such Maturity, <I>multiplied</I> by a fraction the numerator of which is
the initial Bond Base Price of such Maturity minus the initial Related Stated Amount of Floater Certificates of such Maturity and the denominator of which is the initial Bond Base Price of such Maturity, <I>plus</I> </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(B) with respect to each Maturity in the Trust that has a Deposit Price of 100.00 or less, an amount equal to the sum of:
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:13%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1) the product of the principal amount of the Bonds of such Maturity, <I>multiplied</I> by the Bond Rate
(adjusted for the length of the related Calculation Period) for such Maturity, <I>multiplied</I> by a fraction the numerator of which is the Related Stated Amount of Floater Certificates of such Maturity and the denominator of which is the Related
Stated Amount of all Certificates of such Maturity, <I>plus</I> </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">10 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2) the lesser of (a)&nbsp;the product of the principal amount of the Bonds
of such Maturity, <I>multiplied</I> by the Bond Rate or (b)&nbsp;the Alternate Principal Amount of the Bonds of such Maturity, <I>multiplied</I> by the Alternate Deposit Yield (adjusted for the length of the related Calculation Period) for such
Maturity, multiplied by a fraction the numerator of which is the Stated Amount of Related Residual Certificates of such Maturity and the denominator of which is the Related Stated Amount of all Certificates of such Maturity, <I>minus</I> </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(C) the Trustee Fee and Remarketing and Liquidity Charges payable on such Bond Interest Payment Date. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) &#147;Alternate Deposit Yield&#148; shall be calculated separately for each Maturity and shall mean the yield to
maturity, or earlier call, on the Bonds of such Maturity on the Deposit Date calculated in accordance with the provisions of Section&nbsp;171 of the Code by the Remarketing Agent in good faith, which yield is sufficiently low such that the
likelihood that such yield on such Bonds was lower at any time since the date of issuance of such Bonds is remote. The Alternate Deposit Yield for each Maturity is designated as such in the Series Trust Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) &#147;Alternate Principal Amount&#148; shall mean (A)&nbsp;with respect to Bonds issued without original issue
discount as defined in the Code, the principal amount of such Bonds, and (B)&nbsp;with respect to Bonds issued with original issue discount as defined in the Code, the adjusted issue price as defined in the Code of such Bonds assuming that such
Bonds were issued at their initial issue price and such original issue discount has accrued at the Alternate Deposit Yield. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(v) &#147;Deposit Yield&#148; shall be calculated separately for each Maturity and shall mean the yield to maturity, or earlier call, on the Bonds of such Maturity on the Deposit Date based on the Base
Price of the Bonds calculated in accordance with the provisions of Section&nbsp;171 of the Code. The Deposit Yield for each Maturity is designated as such in the Series Trust Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(vi) &#147;Maximum Odd-Lot Amount&#148; shall mean for each Maturity an amount equal to (A)&nbsp;the minimum Authorized
Denomination for Residual Certificates <I>plus </I>(B)&nbsp;the minimum Authorized Denomination for Floater Certificates such that, as nearly as possible, Proportionality is maintained, <I>minus </I>(C)&nbsp;the minimum Authorized Denomination of
the Bonds. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(vii) If a Calculation Period spans more than one calendar month, the Maximum Floater Certificate
Rate shall be computed by assuming that the applicable Calculation Period spans only a single calendar month, beginning no earlier than the first day of that calendar month and ending no later than the last day of that calendar month. In addition,
if a Floater Certificate Rate would be in effect in more than one calendar month, the Maximum Floater Certificate Rate will be computed separately for each portion of the period that such Floater Certificate Rate would be in effect that falls in any
particular calendar month, as if such portion were a separate period for calculation purposes; <I>provided </I>that no such hypothetical separate period shall begin earlier than the beginning of, or end after the end of, the actual Interest Period.
The Maximum Floater Certificate Rate shall be the lowest Maximum Floater Certificate Rate for any such separate period. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">11 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Minimum Floater Certificate Ratio</B>&#148; shall mean, with respect to any Series,
the Floater Certificate Ratio set forth and designated as such in the related Series Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Minimum
Maximum Floater Certificate Rate</B>&#148; shall mean, as of any date of calculation, which calculation date or dates shall be determined by the Remarketing Agent in its sole reasonable discretion, the Maximum Floater Certificate Rate determined by
the Remarketing Agent in its reasonable judgment to be the lowest Maximum Floater Certificate Rate calculated in accordance with the definition thereof in this Section&nbsp;1.1 as of any Bond Interest Payment Date occurring during the remaining term
of the Trust, which Maximum Floater Certificate Rate will not reduce the Floater Certificate Rate determined by the Remarketing Agent pursuant to Section&nbsp;3.5. The initial Minimum Maximum Floater Certificate Rate shall be set forth as such in
the Series Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Mode Change Date</B>&#148; shall mean (i)&nbsp;any Business Day when the change is from
the Daily or Weekly Mode to the Daily, Weekly, Monthly or Term Mode; (ii)&nbsp;the first Business Day of a month when the change is from the Monthly Mode to the Daily, Weekly or Term Mode; or (iii)&nbsp;the day next succeeding the last day of a Term
Period when the change is from the Term Mode to the Daily, Weekly or Monthly Mode. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Monthly Closing
Election</B>&#148; shall have the meaning set forth in Section&nbsp;2.5(b). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Monthly Mode</B>&#148; shall mean the
Rate Mode in which interest on the Floater Certificates is reset on a monthly basis. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Monthly Rate</B>&#148; shall
mean a per annum interest rate on the Floater Certificates in the Monthly Mode determined pursuant to Section&nbsp;3.5(a). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Moody&#146;s</B>&#148; shall mean Moody&#146;s Investor&#146;s Service, Inc., its successors and their assigns, and if such
corporation shall be dissolved or liquidated or shall no longer perform the functions of an NRSRO or provide ratings on the Floater Certificates or the Bonds, as applicable, &#147;Moody&#146;s&#148; shall be deemed to refer to any other NRSRO
designated as a substitute by the Trustee with the approval of the Remarketing Agent and the Liquidity Bank. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>NRSRO</B>&#148; shall have the meaning set forth in Rule 2a-7 promulgated under the Investment Company Act. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Notice of Change in Proportionality</B>&#148; shall mean a notice, substantially in the form of Exhibit H, delivered by the
Beneficial Owner of the Residual Certificates to the Trustee to increase or decrease the Level of Proportionality pursuant to the provisions of Section&nbsp;6.3. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Notice of Election to Retain</B>&#148; shall mean a notice, substantially in the form of Exhibit I hereto, delivered by a Beneficial Owner of Floater Certificates to the Trustee to exercise its
Election to Retain. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">12 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Notice Parties</B>&#148; shall mean, with respect to any Series, the Trustor, the
Trustee, the Tender Agent, the Remarketing Agent, the Liquidity Bank, the Beneficial Owners of the Floater Certificates (to the extent the name of such Beneficial Owner has been provided in writing to the Trustee, pursuant to Section&nbsp;14.2(c)
hereof), the Beneficial Owner of the Residual Certificates (to the extent the name of such Beneficial Owner has been provided in writing to the Trustee) and any other parties identified as such in the related Series Trust Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Odd-Lot Subaccount</B>&#148; shall have the meaning set forth in Section&nbsp;11.8(a). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Opinion of Counsel</B>&#148; shall mean an opinion in writing signed by Orrick, Herrington&nbsp;&amp; Sutcliffe LLP or any other
attorney or nationally recognized firm of attorneys acceptable to the Trustee who may but need not be counsel for the Trustee or the Trustor; <I>provided </I>that, with respect to tax matters, such opinion shall be rendered by Orrick,
Herrington&nbsp;&amp; Sutcliffe LLP or another firm of attorneys nationally recognized in matters pertaining to the tax-exempt status of interest on obligations issued by states of the United States of America and their political subdivisions as
well as matters pertaining to the status of interests in trusts, partnerships and other structures containing such obligations. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Optional Tender Date</B>&#148; shall mean (i)&nbsp;with respect to Floater Certificates in the Daily or Weekly Mode, any
Business Day; (ii)&nbsp;with respect to Floater Certificates in the Monthly Mode, the first Business Day of each calendar month; (iii)&nbsp;with respect to Floater Certificates in the Term Mode with Term Periods 30 days or less in duration, the
first Business Day of each Term Period; and (iv)&nbsp;with respect to Floater Certificates in any Mode, the date of any increase in the Remarketing Agent Fee Rate, the Liquidity Fee Rate or the Trustee Fee Rate pursuant to Section&nbsp;3.3(e) or the
effective date of any amendment pursuant to Section&nbsp;14.4(c). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Outstanding</B>&#148; shall mean, when used with
reference to the Certificates of any Series as of a particular date, all such Certificates theretofore issued and delivered under the related Agreement, except: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) any such Certificates theretofore canceled by the Trustee; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) any such Certificates or portion thereof for whose payment at the redemption or maturity thereof money in the
necessary amount has been paid to the Trustee by the Issuer or otherwise and is held by the Trustee in trust for or was paid by the Trustee to the Holder of such Certificates pursuant to such Agreement; and </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) any such Certificates in exchange for or in lieu of which other Certificates have been issued and delivered
pursuant to such Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Partner</B>&#148; shall have the meaning set forth in Section&nbsp;2.5(b). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Person</B>&#148; includes an individual, association, unincorporated organization, corporation, partnership, limited liability
company, joint venture, business trust or a government or an agency or a political subdivision thereof, or any other entity. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Preliminary Term Rate</B>&#148; shall have the meaning set forth in Section&nbsp;3.5(c). </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">13 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Premium Funded Series</B>&#148; shall mean any Series with respect to which the
Related Stated Amount of Certificates of any Maturity of Bonds of such Series exceeds the principal amount of the Bonds of such Maturity, as of the Deposit Date or the Additional Deposit Date, as the case may be. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Prerefunded Bonds</B>&#148; shall mean Bonds for which cash and/or United States Treasury securities, or such other securities
or assets permitted for the defeasance of the Bonds pursuant to the contractual agreements and any governing law, rule or regulation governing such Bonds, have been deposited, whether before or after the acquisition of such Bonds by the Trustee on
behalf of the related Trust, into an irrevocable escrow account in an amount sufficient to pay when due the interest, principal and any premium with respect to such Bonds pursuant to the terms of the constituent Bond instruments. Any Bonds that have
become Prerefunded Bonds prior to the Deposit Date or Additional Deposit Date, as applicable, shall be identified as such in the Series Trust Agreement or Additional Deposit Notice, as applicable. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Principal Credit Source</B>&#148; shall mean, with respect to any Maturity of Bonds of any Series, the entity, if any,
identified as such in the related Series Trust Agreement or Additional Deposit Notice, as applicable, as the issuer of the credit enhancement with respect to such Maturity of Bonds. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Proportionality</B>&#148; shall mean, with respect to each Maturity of Bonds of any Series, that the Stated Amount of Related
Residual Certificates of such Maturity and the Related Stated Amount of Floater Certificates of such Maturity are required to be proportional at all times such Certificates are Outstanding, subject to adjustment due to all applicable Authorized
Denominations and rounding conventions. The Series Trust Agreement shall specify whether or not Proportionality is adopted for the related Series of Certificates and, if so, shall specify the Level of Proportionality for each Maturity of such
Series. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Purchase Date</B>&#148; shall mean any Optional Tender Date, any Mandatory Tender Date or any Bond
Redemption Date when Floater Certificates are subject to mandatory tender pursuant to Section&nbsp;11.9(e). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Purchase
Price</B>&#148; shall mean an amount equal to 100% of the Stated Amount of Floater Certificates to be purchased, <I>plus </I>the accrued and unpaid Floater Certificate Interest Amount to (but excluding) the Purchase Date. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Purchaser&#146;s Letter</B>&#148; shall mean a letter substantially in the form of Exhibit F. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>QIB</B>&#148; shall mean a &#147;qualified institutional buyer&#148; within the meaning of Rule 144A under the Securities Act.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>QP</B>&#148; shall mean a &#147;qualified purchaser&#148; as defined in Section&nbsp;2(a)(51)(A) of the Investment
Company Act. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">14 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Quotation of Bond Price</B>&#148; shall be calculated separately with respect to
each Maturity of Bonds of any Series and shall be the price set by Financial Times Interactive Data, or if Financial Times Interactive Data has not set a price for such Bonds, by J.J. Kenny, or if any price determined in accordance with the
foregoing clause is determined to be unacceptable by any Notice Party, any Beneficial Owner or any other interested party, the price determined by soliciting bids for such Maturity of Bonds, including accrued and unpaid interest, from at least three
broker-dealers at least two of which are unaffiliated with the Remarketing Agent, selected by the Remarketing Agent in its sole discretion, which price shall be equal to the highest such bid at which the Remarketing Agent reasonably believes the
principal amount of all such Bonds that are the subject of the action for which the Quotation of Bond Price is required could be sold. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Rate Determination Time</B>&#148; shall mean, with respect to any Series, the date and time on which the Floater Certificate Rates for such Series shall be determined, which: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) in the case of the Daily Mode for an Interest Period not beginning on a Mode Change Date, shall be 10:00 a.m., on
each Business Day; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) in the case of the Weekly Mode for an Interest Period not beginning on a Mode Change
Date, shall be 12:00 noon, on each Thursday or, if Thursday is not a Business Day, then 12:00 noon, on the Business Day preceding such Thursday; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(iii) in the case of Monthly Mode for an Interest Period not beginning on a Mode Change Date, shall be 3:00 p.m., on the Business Day preceding the first day of the next succeeding month; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) in the case of Term Mode, shall be 3:00 p.m., on the first day of each Term Period; and </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(v) in the case of an Interest Period beginning on a Mode Change Date with respect to Floater Certificates in the Daily,
Weekly or Monthly Mode, shall be 3:00 p.m., on the Business Day preceding such Mode Change Date. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Rate Mode</B>&#148;
shall mean the Daily Mode, the Weekly Mode, the Monthly Mode or the Term Mode. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Rating Threshold</B>&#148; shall
mean, with respect to any Series, the ratings from Moody&#146;s, S&amp;P and/or Fitch designated as the &#147;Rating Threshold&#148; in the related Series Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Regular Record Date</B>&#148; shall mean, with respect to any Floater Certificate Interest Payment Date, the close of business on the Business Day preceding such Floater Certificate Interest
Payment Date. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Reimbursement Agreement</B>&#148; shall mean, with respect to any Series, an agreement, if any, to
which the Liquidity Bank is a party that provides for, among other things, reimbursement of the Liquidity Bank for amounts paid under the Liquidity Facility. Each Series Trust Agreement shall state whether or not a Reimbursement Agreement has been
executed in connection with a Series. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">15 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Related</B>&#148; shall mean (i)&nbsp;when used to modify a Designated Termination
Date, an Odd-Lot Subaccount or any other term specific to a single Maturity, such term identified with the particular Maturity that is the subject of the action to be taken, (ii)&nbsp;when used to modify a Maturity, the Maturity with which a
specified term is identified and (iii)&nbsp;when used to modify a Stated Amount of Floater Certificates, the particular Stated Amount of Floater Certificates identified with a particular Maturity in the Series Trust Agreement or Additional Deposit
Notice, as applicable, and at the time Outstanding. For each Maturity of any Series, the initial Related Stated Amount of Floater Certificates of such Maturity and the initial Stated Amount of Related Residual Certificates of such Maturity shall be
as set forth in the related Series Trust Agreement or Additional Deposit Notice, as applicable. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Remarketing
Agent</B>&#148; shall mean, with respect to any Series, the entity identified as such in either the Series Trust Agreement or, if not identified therein, in the Remarketing Agreement, together with its successors and assigns as such, pursuant to the
Remarketing Agreement, or any other remarketing agent appointed pursuant to Section&nbsp;13.11, together with its successors and assigns as such. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Remarketing Agent Fee Rate</B>&#148; shall mean, with respect to any Series, the rate designated as such in the related Series Trust Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Remarketing Agreement</B>&#148; shall mean, with respect to any Series, the agreement identified as such or any similar
agreement with a successor remarketing agent appointed pursuant to Section&nbsp;13.11, including all exhibits, schedules, appendices, supplements and amendments thereto. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Remarketing Date</B>&#148; shall have the meaning set forth in Section&nbsp;9.1(a) herein. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Remarketing and Liquidity Charges</B>&#148; shall have the meaning set forth in Section&nbsp;3.3(c). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Residual Certificates</B>&#148; shall mean, with respect to any Series, the Residual Certificates of such Series as set forth in the related Series Trust Agreement, evidencing a beneficial
ownership interest in a particular Maturity of Bonds identified in such Series Trust Agreement on the terms and conditions set forth in the Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Residual Certificates Redemption Amount</B>&#148; shall mean, with respect to any Maturity, the Stated Amount of Related Residual Certificates, if any, to be redeemed as provided in
Section&nbsp;11.9 and as set forth on the Related Amortization Schedule of Base Prices. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>RIC</B>&#148; shall mean
&#147;regulated investment company&#148; within the meaning of Section&nbsp;851(a) of the Code. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>S&amp;P</B>&#148;
shall mean Standard&nbsp;&amp; Poor&#146;s Ratings Services, a division of The McGraw-Hill Companies, Inc., its successors and their assigns, and if such entity shall be dissolved or liquidated or shall no longer perform the functions of an NRSRO or
provide ratings on the Floater Certificates or the Bonds, as applicable, &#147;S&amp;P&#148; shall be deemed to refer to any other NRSRO designated as a substitute by the Trustee with the approval of the Remarketing Agent and the Liquidity Bank.
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">16 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Scheduled Expiration Date</B>&#148; shall mean, with respect to any Series, the
date set forth and identified as such in the related Series Trust Agreement, as such date may be extended from time to time by the Liquidity Bank in accordance with the related Liquidity Facility, or the date set forth as such in any Substitute
Liquidity Facility; <I>provided </I>that, if such date would occur during the Grace Period, the Scheduled Expiration Date shall be extended to the first Business Day following the expiration of such Grace Period. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Securities Act</B>&#148; shall mean the Securities Act of 1933, as amended from time to time. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Securities Depository</B>&#148; shall mean, with respect to any Series, (i)&nbsp;with respect to the Floater Certificates of
such Series, DTC or any other securities depository registered under Section&nbsp;17A of the Securities Exchange Act or operated by a bank or other financial institution; or (ii)&nbsp;with respect to the Residual Certificates Related to any Maturity
of Bonds of such Series, the Trustee, acting as custodian for the Beneficial Owner of such Residual Certificates, any other bank or other financial institution acting as custodian for such Beneficial Owners, or DTC or any other securities depository
registered under Section&nbsp;17A of the Securities Exchange Act or operated by a bank or other financial institution. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Securities Exchange Act</B>&#148; shall mean the Securities Exchange Act of 1934, as amended from time to time. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Select by Lot</B>&#148; or &#147;<B>Selection by Lot</B>&#148; shall mean, during the period in which the Floater Certificates
of a Series are held by DTC, the selection of beneficial interests in Floater Certificates of such Series for a given action affecting less than all the Floater Certificates under any CUSIP number, which shall be initiated by the Trustee by
notifying DTC of a requirement for such a selection. With respect to Floater Certificates of any Series, subject to the provisions of Section&nbsp;1.2(f), DTC shall select, in accordance with DTC procedures and in such manner as DTC shall determine
from a position listing of the aggregate Stated Amounts of such Floater Certificates of such Series as of the close of business on the date of such notice, the interests in Floater Certificates held by DTC Participants with respect to which such
action shall be taken; it being understood that, during any period in which the Floater Certificates of a Series are held by DTC, whenever any Bonds or any amount is to be distributed to Holders or Beneficial Owners of Floater Certificates, such
Bonds or such amount shall be distributed to each Holder or Beneficial Owner of Floater Certificates <I>pro rata</I>, to the extent practicable in accordance with DTC procedures, based on the Stated Amount of each such Holder&#146;s or Beneficial
Owner&#146;s Floater Certificates, compared to the aggregate Stated Amount of all Floater Certificates. In accordance with DTC procedures, DTC shall give the DTC Participant or DTC Participants for the interests so selected written notice thereof
that shall specify the date and nature of such action and the Stated Amount of Floater Certificates to be selected. Each such DTC Participant, in accordance with DTC procedures, shall thereupon select in such manner as it shall determine the
Beneficial Owners with respect to whose interests such action shall be taken. During any period in which the Floater Certificates of a Series are not held by DTC, &#147;<B>Select by Lot</B>&#148; or &#147;<B>Selection by Lot</B>&#148; shall mean the
selection by the Trustee by lot of beneficial interests in Floater Certificates of such Series for a given action affecting less than all the Floater Certificates under any CUSIP number. &#147;<B>Select by Lot</B>&#148; or &#147;<B>Selection by
Lot</B>&#148; shall mean, with respect to the Residual Certificates Related to any Maturity of Bonds, the selection by the Trustee by lot of beneficial interests in Residual Certificates of such Maturity for a given action affecting less than all
the Residual Certificates under any CUSIP number. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">17 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Series</B>&#148; shall mean a separate series of Certificates issued pursuant to
this Master Terms of Trust Agreement and a related Series Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Series Trust Agreement</B>&#148; shall
have the meaning set forth in the initial paragraph of this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Start-Up Date</B>&#148; shall have the
meaning set forth in Section&nbsp;2.5(b). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>State Partnership Factors</B>&#148; shall mean the optional provisions of
this Master Terms of Trust Agreement necessary for the arrangement created hereunder to be treated as a partnership for certain state tax law purposes. The Series Trust Agreement shall specify whether or not the State Partnership Factors are adopted
for the related Series of Certificates. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Stated Amount</B>&#148; shall mean, with respect to any Certificates, the
par value of such Certificates assigned thereto at issuance, which par value shall be an Authorized Denomination, as the same may be adjusted from time to time as provided herein. With respect to each Maturity of any Series, the initial Related
Stated Amount of Floater Certificates and the initial Stated Amount of the Related Residual Certificates are set forth as such in the related Series Trust Agreement or Additional Deposit Notice, as applicable. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Substitute Liquidity Facility</B>&#148; shall have the meaning set forth in Section&nbsp;8.3(a). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Successor Liquidity Bank</B>&#148; shall have the meaning set forth in Section&nbsp;8.3(a). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Tax Event</B>&#148; shall mean, with respect to any Series, a determination that interest on any Maturity of Bonds of such
Series is includable in the gross income of the owners thereof (including Beneficial Owners) for federal income tax purposes (including by reason of such Bonds being declared invalid, illegal or unenforceable by a court of competent jurisdiction,
whether or not such declaration is appealable or deemed to be final under applicable procedural law, or by operation of law), as a result of the entry of any decree or judgment by a court of competent jurisdiction, or the taking of any official
action by the IRS, whether or not such decree, judgment or action is appealable or deemed to be final under applicable procedural law, or delivery to the Trustor, the Trustee and the Liquidity Bank of an opinion of nationally recognized bond counsel
acceptable to the Trustor, the Trustee and the Liquidity Bank to the effect that the interest borne by the Bonds is includable in the gross income of the recipients thereof (including Holders) for federal income tax purposes (including by reason of
such Bonds being declared invalid, illegal or unenforceable by a court of competent jurisdiction, whether or not such declaration is appealable or deemed to be final under applicable procedural law, or by operation of law). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Tax Matters Partner</B>&#148; shall have the meaning set forth under Temporary Treasury Regulations
Section&nbsp;301.6231(a)(7)-1. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Tax Responsible Partner</B>&#148; shall mean the Trustor. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">18 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Tax Responsible Partner&#146;s Required Controlling Interest</B>&#148; shall have
the meaning set forth in Section&nbsp;12.2. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Tender Agent</B>&#148; shall mean the institution serving as Trustee, in
its capacity as Tender Agent under the Agreement, together with its successors and assigns as such. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Tender
Date</B>&#148; shall have the meaning set forth in Section&nbsp;6.4(b)(iv). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Tender Demand Owner</B>&#148; shall have
the meaning set forth in Section&nbsp;6.4(b). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Tender Notice</B>&#148; shall mean a written notice of exercise of the
Tender Option substantially in the form attached hereto as a part of Exhibit A. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Tender Option</B>&#148; shall mean
the right granted in Section&nbsp;4.1 to the Holders and Beneficial Owners of Floater Certificates of any Series to tender such Floater Certificates for purchase at the Purchase Price pursuant to the terms of the Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Tender Option Termination Event</B>&#148; shall mean, with respect to any Maturity of Bonds of any Series, the occurrence of any
of the following events: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) an Act of Bankruptcy shall have occurred with respect to the Issuer (it being
understood that, if a Principal Credit Source shall be identified as such in the related Series Trust Agreement or Additional Deposit Notice, as applicable, the term &#147;Issuer&#148; for purposes of this clause (i)&nbsp;only shall be deemed to
mean the Principal Credit Source); <I>provided </I>that no such event with respect to the Issuer of Prerefunded Bonds shall constitute a Tender Option Termination Event; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) there shall have occurred (A)&nbsp;a failure of payment of any installment of principal of or premium, if any, or
interest on such Bonds (whether by scheduled maturity, regular repayment, acceleration, demand or otherwise), and (B)&nbsp;if with respect to such Bonds a Principal Credit Source shall be identified as such in the related Series Trust Agreement or
Additional Deposit Notice, as applicable, a failure of such Principal Credit Source to make such payment of principal, premium or interest under the terms of its credit enhancement upon demand for such payment thereunder, which failure or failures
shall continue unremedied for five days; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) the rating on such Bonds shall have been downgraded by each
Bond Rating Agency below the lowest rating of such Bond Rating Agency that is commonly regarded as &#147;investment grade,&#148; being BBB- in the case of S&amp;P and Fitch and Baa3 in the case of Moody&#146;s; or </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) an Event of Taxability shall have occurred with respect to such Bonds. &#147;<B>Tender Price</B>&#148; shall have
the meaning set forth in Section&nbsp;6.4(c). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Term Mode</B>&#148; shall mean the Rate Mode in which the interest on
the Floater Certificates is reset at specified periods between one day and 364 days. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">19 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Term Period</B>&#148; shall mean each Interest Period during the Term Mode that a
Term Rate shall be in effect. The Remarketing Agent shall set the terms of each Term Period as follows: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i)each Term Period shall consist of from one day to 364 days; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) each Term Period shall be for the same number of days until changed by the Remarketing Agent pursuant to
Section&nbsp;7.2(c); and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) each Term Period shall begin on the Business Day following the end of the
previous Rate Mode and shall end on the day specified by the Remarketing Agent; <I>provided </I>that, if the last day of a Term Period is not a Business Day that is succeeded by a Business Day, such Term Period shall be extended until the next
Business Day that is succeeded by a Business Day. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The terms of each Term Period shall remain the same unless changed by the Remarketing Agent
pursuant to Section&nbsp;7.2(c). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Term Rate</B>&#148; shall mean the per annum interest rate on the Floater
Certificates in the Term Mode determined pursuant to Section&nbsp;3.5(a). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Trust</B>&#148; shall mean, with respect
to any Series, the separate trust established by this Master Terms of Trust Agreement and the related Series Trust Agreement for the benefit of the Holders of Certificates of such Series under the laws of the State of New York. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Trustee</B>&#148; shall mean the entity identified as such in the Series Trust Agreement, in its capacity as Trustee under the
Agreement, together with its successors and assigns as such. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Trustee Advance</B>&#148; shall have the meaning set
forth in Section&nbsp;3.7. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Trustee Advance Fee</B>&#148; shall mean, with respect to any Series, the fee that the
Trustee is entitled to receive in respect of Trustee Advances. The Trustee Advance Fee, if any, with respect to any Series, shall be calculated based on the method and paid on the dates and in accordance with the priority of the Trustee Fee, as
shall be explicitly disclosed in the related Series Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Trustee Fee</B>&#148; shall have the meaning
set forth in Section&nbsp;3.3(b). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Trustee Fee Rate</B>&#148; shall mean, with respect to any Series, the rate
designated as such in the related Series Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Trustor</B>&#148; shall mean the entity identified as such
in a Series Trust Agreement, together with its successors and assigns as such. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>UCC</B>&#148; shall mean the Uniform
Commercial Code as in effect in the State of New York. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Unamortized Premium</B>&#148; shall mean, with respect to any
Maturity of Bonds, the premium <I>minus </I>the Amortized Premium on such Maturity as of the date of determination. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">20 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Weekly Mode</B>&#148; shall mean the Rate Mode in which interest on the Floater
Certificates is reset on a weekly basis. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Weekly Rate</B>&#148; shall mean a per annum interest rate on the Floater
Certificates in the Weekly Mode determined pursuant to Section&nbsp;3.5(a). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<B>Withdrawal Request</B>&#148; shall mean
a request to withdraw Bonds pursuant to the provisions of Section&nbsp;6.2 substantially in the form of Exhibit D. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;1.02. <U>Rules of Construction</U>. Unless the context or use indicates another or different meaning or intent, the
following rules shall apply to the construction of this Master Terms of Trust Agreement and, where applicable, each Series Trust Agreement: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(a) Words importing the singular number shall include the plural number and vice versa. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(b) The captions and headings herein are solely for convenience of reference and shall not constitute a part of the Agreement nor shall they affect its meaning, construction or effect. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) The words &#147;hereof,&#148; &#147;herein,&#148; &#147;hereto&#148; and other words of similar import in this Master Terms of Trust
Agreement shall mean &#147;in&#148; and &#147;under&#148; the entire Agreement which includes this Master Terms of Trust Agreement, and shall not refer to this Master Terms of Trust Agreement standing alone. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) All references herein to a particular time of day shall be to New York City time. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) Reference to Sections, Articles, Schedules and Exhibits shall be to Sections, Articles, Schedules and Exhibits hereof or hereto
unless a different document is specified. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(f) Notwithstanding references to &#147;Selection by Lot&#148; herein, during any
period in which the Floater Certificates of a Series are held by DTC, whenever any Bonds or any amount is to be distributed to Holders or Beneficial Owners of Floater Certificates, such Bonds or such amount shall be distributed to each Holder or
Beneficial Owner of Floater Certificates <I>pro rata</I>, to the extent practicable in accordance with DTC procedures, based on the Stated Amount of each such Holder&#146;s or Beneficial Owner&#146;s Floater Certificates, compared to the aggregate
Stated Amount of all Floater Certificates. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE II </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>CREATION OF SERIES TRUSTS </B></FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;2.01. <U>Creation of Trusts</U>. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) This Master Terms of Trust
Agreement shall not be effective with respect to a Trust or its assets (or otherwise) unless the Trustor and the Trustee have executed and delivered a Series Trust Agreement with respect to such Trust and such assets, it being the intention of the
parties that this Master Terms of Trust Agreement shall be solely for the purpose of establishing the provisions that may be incorporated from time to time with respect to a Trust, as such provisions may be modified by the Series Trust Agreement
executed and delivered in respect of such Trust. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">21 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) With respect to each Trust, the Trustee shall hold in trust within the corporatetrust
department of the Trustee: (i)&nbsp;the Bonds transferred to the Trust pursuant to a Series Trust Agreement or an Additional Deposit Notice, as the case may be, on or after the date thereof, (ii)&nbsp;all distributions thereon after the Deposit Date
or the Additional Deposit Date, as applicable, received as principal, premium, if any, or interest with respect to the Bonds, pending disbursement as hereinafter provided, (iii)&nbsp;all right, title and interest in and to such distributions as
hereinafter provided, and (iv)&nbsp;all right, title and interest in and to any funds received under the Liquidity Facility with respect to such Series. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(c) With respect to each Trust, the related Bonds, all moneys received as principal, premium, if any, and interest with respect to such Bonds, any funds received under the related Liquidity Facility and
all other assets of the Trust shall remain in the custody of the Trustee and shall be kept in the Trust for such Series for the benefit and account of the Beneficial Owners of Certificates for such Series as the beneficial owners of the related
Bonds. Moneys to the credit of the Trust shall be held by the Trustee uninvested. The Bonds, all funds received under the Liquidity Facility and all other assets received and held in the Trust will not be subject to any right, charge, security
interest, lien or claim of any kind in favor of the Trustee or any Person claiming through it, except as expressly permitted by the provisions of the Agreement. The Trustee shall not have the power or authority to transfer, assign, hypothecate,
pledge or otherwise dispose of any of the assets of the Trust to any Person, except as expressly permitted by the provisions of the Agreement. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;2.02. <U>Acquisition of Bonds and Provision of Liquidity Facility for the Trust.</U> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(a) The Trustor shall deliver or cause to be delivered to the Trustee the Bonds pursuant to the Series Trust Agreement or an Additional Deposit Notice. With respect to each such delivery, the Trustor
hereby represents and warrants as follows: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) the Bonds, at the time of their original issuance, were
delivered with an Opinion of Counsel to the effect that interest on the Bonds is excludable from gross income for federal income tax purposes; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(ii) immediately prior to the delivery thereof to the Trustee on behalf of the Trust, the Trustor owns the Bonds free and clear of any lien, pledge, encumbrance or any other security interest; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) the Trustor thereby releases all right, title and interest in and to the Bonds to the Trustee on behalf of the
Trust for the related Series; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) the Deposit Price was determined in accordance with the definition
thereof. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">22 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) The Trustee is authorized and directed to deliver any instrument or document necessary
to obtain registration or registration of transfer of the Bonds and to obtain payment of principal, premium, if any, and interest thereon. The Trustee is further authorized to sign and file any declaration, affidavit, certificate of ownership or
other document necessary or advisable in the administration of the Trust and to present for payment all Bonds or coupons thereon required to be presented as a condition to payment at the maturity or upon call for redemption thereof. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c)&nbsp;(1) To the extent that the Bonds constitute security entitlements, the Trustor shall cause a securities intermediary (including
DTC) to credit the Bonds to a securities account of the Trustee. To the extent that the Bonds constitute certificated securities, the Trustor shall cause the Trustee to acquire possession of the related security certificates, indorsed to the Trustee
or in blank by an effective indorsement, or registered in the name of the Trustee or a nominee of the Trustee, upon original issue or registration of transfer by the issuer of such certificated security. To the extent that the Bonds constitute
uncertificated securities, the Trustor shall cause the issuer of such uncertificated security to register the Trustee as the registered owner of such uncertificated security. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(2) The Trustor shall take all actions, including the authorization and filing of appropriate financing statements, as are necessary to ensure that, if the transfer of the Bonds by the Trustor to the
Trustee were found to constitute the grant of a security interest in the Bonds, such security interest would be a perfected security interest of first priority under applicable law and will be maintained as such. The Trustor shall cause the Trustee
to file any necessary continuation statements and amendments with respect to such financing statements, and the Trustee agrees to make such filings at the direction and expense of the Trustor. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) With respect to each Series, the Trustor shall cause a Liquidity Bank to execute and deliver a Liquidity Facility for such Series to
the Trustee, pursuant to which such Liquidity Bank shall be obligated to fund the Purchase Price of tendered Floater Certificates, tendered pursuant to the terms hereof, upon the terms and conditions set forth herein and therein. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) The Trustee shall accept each such Liquidity Facility as Trustee for the Holders of the Floater Certificates of such Series.
</FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;2.03. <U>Obligations of Trustee and the Trustor.</U> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) With respect to each Series of Certificates, each of the Trustee and the Trustor has no obligation with respect to the Bonds or the
Liquidity Facility except as expressly provided herein and therein. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) If the State Partnership Factors shall have been
adopted, the Tax Responsible Partner (but no other holder of Certificates) shall be liable without limitation for all debts and obligations of, and claims against, the Trust (including those referred to in Section&nbsp;2.3(c) below); <I>provided
</I>that the Tax Responsible Partner shall not be responsible for the payment to holders of Certificates of any amount that represents, directly or indirectly, principal, interest or premium with respect to the Bonds or the Purchase Price.
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">23 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) If the State Partnership Factors shall not have been adopted, the Tax Responsible
Partner shall not be liable for the debts and obligations of, or any claims against, the Trust, except that the Tax Responsible Partner shall be liable for penalties imposed on the Trust and other costs of the Trust arising from any failure to duly
and timely file (i)&nbsp;the abbreviated Form 1065 referred to in Section&nbsp;2.5(m) or (ii)&nbsp;other required tax returns or information reports. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;2.04. <U>Holders&#146; Direct Interests; Relationship between Related Stated Amounts and Bond Base Price.</U> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(a) With respect to any Series, each Floater Certificate evidences beneficial ownership of and the right to receive certain future payments equal to the amount of principal, interest and premium, if any,
on an undivided interest in all Maturities of Bonds of such Series and, except for Liquidity Floater Certificates, the right to receive the Purchase Price of the Floater Certificates from amounts available under the related Liquidity Facility
pursuant to Sections 4.1, 5.2, 6.4 and 11.9. The Beneficial Owners of Floater Certificates of a Series shall have all the rights and privileges of an owner of a proportionate principal amount of the Bonds of all Maturities of such Series to the
extent provided in the Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) With respect to any Series, each Residual Certificate evidences beneficial ownership of
and the right to receive certain future payments equal to the amount of principal, interest and premium, if any, on an undivided interest in the particular Maturity of Bonds with which such Residual Certificate is identified. The Residual
Certificates of any Series shall, as of the Deposit Date and as of any date thereafter, be held by one Beneficial Owner. The Beneficial Owner of the Residual Certificates of a Series shall have all the rights and privileges of an owner of the
Related Maturity of Bonds to the extent provided in the Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) With respect to each Maturity of Bonds of a Series,
the sum of the Related Stated Amount of Floater Certificates of such Maturity and the Stated Amount of the Related Residual Certificates of such Maturity may not exceed the Bond Base Price of such Maturity of Bonds as of the Deposit Date;
<I>provided </I>that the Trustee may review but has no obligation to insure that the requirement of this clause is satisfied. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;2.05. <U>Tax Matters.</U> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(a) Each Beneficial Owner of Certificates acknowledges that it understands and intends that the arrangement created hereunder is a partnership for federal income tax purposes and any other purpose that
conforms to federal and (where relevant) state and local income tax law (but for no other purpose) and that it intends and expects to be treated as a partner therein for such purposes. The provisions of the Agreement shall be interpreted and applied
in a manner consistent with such intent. No election to treat the Trust other than as a partnership for federal income tax purposes or any relevant state or local tax purposes shall be made by or on behalf of the Trust, or by any Holder or
Beneficial Owner. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) The Trust shall make an election (the &#147;Monthly Closing Election&#148;) under Revenue Procedure
2003-84, effective as of the later of the date the Trust has more than one owner for tax purposes and the date the Trust has more than a <I>de minimis </I>amount of assets (in either case, the &#147;Start-Up Date&#148;). This election is binding on
all present and future Holders, Beneficial Owners and other persons treated as partners in the Trust for federal income tax purposes and each of their nominees (each, a &#147;Partner&#148; for this purpose) and each Partner, by acceptance of its
Certificates or interest therein, is deemed to consent to this election. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">24 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) Prior to the Start-Up Date, the Trust shall not have any income producing assets and
shall not earn any income. The Trust shall not file a tax return for the period prior to the Start-Up Date. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) The Trust
shall neither (and no person is authorized on behalf of the Trust to) elect to be an association taxable as a corporation for federal income tax purposes nor make an election under Section&nbsp;761(a) of the Code to be excluded from the application
of all or part of the provisions of subchapter K of chapter 1 of the Code. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) To the extent the Trust is required to have a
tax matters partner, as defined under Temporary Treasury Regulations Section&nbsp;301.6231(a)(7)-1 (a &#147;Tax Matters Partner&#148;), the Tax Responsible Partner shall be the Tax Matters Partner; <I>provided </I>that the Tax Responsible Partner
holds the Tax Responsible Partner&#146;s Required Controlling Interest; and <I>provided, further, </I>that, if the Tax Responsible Partner does not hold the Tax Responsible Partner&#146;s Required Controlling Interest, the Tax Responsible Partner
shall be the agent and attorney-in-fact of the Tax Matters Partner. By its acceptance thereof, the Tax Matters Partner and each holder of Certificates hereby agrees to irrevocably appoint the Tax Responsible Partner as its agent to perform all of
the duties of the Tax Matters Partner for the Trust. Such appointment shall be coupled with an interest. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(f) Consistent with
the Monthly Closing Election, each Beneficial Owner by purchasing Certificates agrees to directly report income, gain, loss and deduction with respect to its ownership interest in the Bonds in a manner consistent with the allocations set forth in
Section&nbsp;2.5(g). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(g) For federal income tax purposes and the maintenance of capital accounts, including the Trust&#146;s
deemed closing of its books at the end of each calendar month under Treasury Regulation &#167; 1.706-1(c)(2) that is required by Section&nbsp;6 of Revenue Procedure 2003- 84, the Trust&#146;s tax-exempt income, taxable income, gain, loss, deductions
and credits will be allocated for federal income tax and applicable state and local franchise and income tax purposes as follows: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(i) Interest on the Bonds of any Maturity (including Accrued OID) for any period shall be allocated: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(A) <U>first,</U> to the Beneficial Owners of Floater Certificates, an amount equal to accrued interest distributable for such period on the Floater Certificates at the Floater Certificate Rate, and
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(B) <U>second,</U> to the Beneficial Owner of the Related Residual Certificates, the remaining interest on
the Bonds. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">25 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) Gain on the sale or redemption of the Bonds of any Maturity shall be
allocated: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(A) to the extent any gain on the sale of such Maturity of Bonds is treated as ordinary income
under Section&nbsp;1276 of the Code, 100% to the Beneficial Owner of the Related Residual Certificates; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(B)
to the extent of the Gain Share for such Maturity of Bonds, to the Beneficial Owners of Floater Certificates, their respective shares in the distribution of such amount, and </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(C) to the extent of the balance of all other gain, to the BeneficialOwner of the Related Residual Certificates.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) Loss recognized on the sale of the Bonds of any Maturity shall be allocated 100% to the Beneficial
Owner of the Related Residual Certificates (except to the extent the loss is borne economically by other Partners, in which case it will be allocated to that extent to such other Partners). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) Unrecognized loss on any in-kind distribution of the Bonds of any Maturity shall be allocated to the Beneficial
Owners of Floater Certificates and Related Residual Certificates in a manner that reflects their respective interests in the Trust and the Bonds of such Maturity, their shares of such Bonds distributed, and the effects on their respective interests
of such distribution (taking account of all facts and circumstances). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(v) All expenses of the Trust
(including all Amortized Premium on the Bonds of such Maturity to the extent treated as a separate item of expense of the Trust) shall be allocated 100% to the Beneficial Owner of the Related Residual Certificates. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(h) All of the allocations set forth in Section&nbsp;2.5(g) are intended to be made in accordance with Section&nbsp;704(b) of the Code.
If allocation of the Trust&#146;s tax-exempt income, taxable income, gain, loss, deductions and credits as provided in Section&nbsp;2.5(g) would not be in accordance with Section&nbsp;704(b) of the Code, then allocations shall be made in a manner
that is in accordance with Section&nbsp;704(b) of the Code. If the Tax Responsible Partner believes in its sole judgment that such other allocations are required by applicable law or regulations it shall promptly give notice to Holders (or, in the
case of Certificates held by a regulated investment company (as defined in Section&nbsp;851(a) of the Code)(each, a &#147;RIC&#148;) with respect to which an election is in place for a manager (the &#147;Electing Manager&#148;) to be responsible for
collecting, retaining, and providing beneficial ownership information to the IRS, the Tax Responsible Partner shall promptly give notice to the Electing Manager). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(i) Notwithstanding anything herein to the contrary, the Trust shall not acquire any asset unless the Trust reasonably expects that the acquisition of that asset will not cause less than 95 percent of the
Trust&#146;s gross income (for this purpose, including the gross amount of interest income that is excluded from gross income) to be from: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(A) interest on tax-exempt obligations as defined in Section&nbsp;1275(a)(3) of the Code and Treasury Regulation &#167; 1.1275-1(e); </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">26 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(B) exempt-interest dividends as defined in Section&nbsp;852(b)(5) of the
Code that are paid by a RIC; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(C) gain from the sale, redemption or other disposition of assets generating
the income described in clauses (A)&nbsp;and (B)&nbsp;of this Section&nbsp;2.5(i), and income from the temporary investment (for a period no greater than seven months) of the proceeds of the disposition, but only if the assets that are sold,
redeemed, or disposed of are original assets of the Trust. For this purpose, an asset is an original asset of the Trust if the asset is contributed to the Trust or is acquired with capital contributed to the Trust (and not with the proceeds of the
sale, redemption or other disposition of a Trust asset). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(j) The Trust shall distribute (or make payments of expenses with)
the proceeds of any of the assets that are sold, redeemed or disposed of, and shall not reinvest such proceeds unless otherwise permitted. The Trust may assume that amounts treated, for federal income tax purposes, as exempt interest described in
Section&nbsp;2.5(i)(A) satisfy the requirement of this Section&nbsp;2.5(j); provided that an Opinion of Counsel was rendered with respect to such exemption and until it has received notice from its tax advisors or the Tax Responsible Partner or
Remarketing Agent to the contrary. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(k) The Trust shall not incur any liability or expense, if doing so would prevent
substantially all of the Trust&#146;s expenses and deductions from being properly allocable to: (A)&nbsp;producing, collecting, managing, protecting, and conserving the income described in Section&nbsp;2.5(i)(A), (B)&nbsp;or (C), above,
(B)&nbsp;acquiring, managing, conserving, maintaining, or disposing of property held for the production of the income described in Section&nbsp;2.5(i)(A), (B)&nbsp;or (C), above, and (C)&nbsp;servicing the equity in the Trust. Payments to the
Remarketing Agent, the Liquidity Bank and the Trustee comply with this Section&nbsp;2.5(k). Furthermore, for purposes of this Section&nbsp;2.5(k), the costs of collecting, managing, computing and supplying the information required under Revenue
Procedure 2003-84 to be provided to the IRS and to the Partners shall not be taken into account. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(l) In connection with its
formation, the Trust shall obtain an employer identification number. The Trustee, the Tax Responsible Partner, and each of their accountants are each authorized to obtain such number and each of the foregoing is authorized to delegate such authority
to its agents. Each Partner, by acceptance of its Certificates or interest therein, is deemed to consent to the foregoing. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(m) The Trust shall file an abbreviated Form 1065, &#147;U.S. Return of Partnership Income&#148; (&#147;Form 1065&#148;) as required by,
and in the format outlined in Section&nbsp;8.01 of, Revenue Procedure 2003-84, for its first taxable year as soon as reasonably possible after the Start-Up Date, but in no event later than the date that the partnership&#146;s income tax return for
that taxable year would ordinarily be due. The Trustee, the Tax Responsible Partner, and each of their accountants are each authorized to sign the abbreviated Form 1065, and each of the foregoing is authorized to delegate such authority to its
agents. Each Partner, by acceptance of its Certificates or interest therein, is deemed to consent to the foregoing and authorize the filing of the abbreviated Form 1065 on behalf of the Trust and itself. Copies of the abbreviated Form 1065 will be
made available to Partners upon request. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(n) The Trust shall, within 45 days of a request by the IRS or a Partner, make available all
the information necessary to compute a Partner&#146;s monthly tax-exempt income, taxable income, gain, loss, deductions or credits, including sufficient information for a Partner to determine the portion of the tax-exempt interest that may be
subject to the alternative minimum tax, and information regarding each Partner&#146;s share of any bond premium amortization under Section&nbsp;171 of the Code, any market or original issue discount, and capital gain or loss. The Trust shall not
charge any fee to the IRS or a Partner for providing the information required to be provided by this Section&nbsp;2.5(n). If any Partner specifically requests such information for any taxreporting reason, however, the Tax Responsible Partner may
charge such Partner (but not the IRS) a reasonable fee (disclosed to the Partner in advance) for any information required to be provided to or on behalf of such Partner by this Section&nbsp;2.5(n). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(o) Except in the case of a RIC with respect to which an Electing Manager has elected under Section&nbsp;8.04 of Revenue Procedure
2003-84 to be responsible for collecting, retaining and providing to the IRS the beneficial ownership information otherwise required to be collected, retained and provided to the IRS, each Partner on whose behalf another Person holds an interest in
a Certificate as a nominee shall, and by its acceptance of its Certificates or any interest therein is deemed to agree to, notify the Tax Responsible Partner on behalf of the Trust of its beneficial ownership of a Certificate and provide the Tax
Responsible Partner on behalf of the Trust all information as required by Section&nbsp;8.04 of Revenue Procedure 2003-84 substantially contemporaneously with, or immediately following, the acquisition of any Certificates. No particular format is
required of such notice; <I>provided, however, </I>that such notice must be in writing, by Electronic Means and in a format reasonably satisfactory to the Trust. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(p) Each Electing Manager shall, and by notifying the Trust of its election is deemed to agree to, collect, retain and provide to the IRS or the Tax Responsible Partner on behalf of the Trust the
information required to be collected, retained and provided to the IRS or the Trust as required under Revenue Procedure 2003-84. In addition, each Electing Manager shall (or shall cause one of its agents to) notify the Trust of the names, CUSIP
numbers or other identifying information, and amounts of the Certificates that are owned or have been owned by any RIC that it manages or advises (i)&nbsp;either (a)&nbsp;substantially contemporaneously with, or immediately following, the
acquisition of any Certificates or (b)&nbsp;otherwise, at least quarterly and (ii)&nbsp;within ten (10)&nbsp;business days of a request for such information if the IRS (or a RIC that such Electing Manager manages) has requested such information from
the Trust or the Tax Responsible Partner. No particular format is required of such notice; <I>provided, however, </I>that such notice must be in writing, by Electronic Means and in a format reasonably satisfactory to the Trust. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(q) The Trust shall retain sufficient records, including records regarding the legal and beneficial ownership of Certificates provided to
it by Partners and by Electing Managers, to comply with its obligations under Revenue Procedure 2003-84. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(r) It is the
intention of the parties hereto that this Section&nbsp;2.5 fulfill the requirements for making a Monthly Closing Election under Revenue Procedure 2003-84 and shall be interpreted consistently therewith. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">28 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(s) The Tax Responsible Partner will notify the Partners (or, in the case of Certificates
held by a RIC with respect to which an election is in place for an Electing Manager to be responsible for collecting, retaining, and providing beneficial ownership information to the IRS, the Tax Responsible Partner will notify such Electing
Manager), if the Tax Responsible Partner becomes aware (in its sole but reasonable judgment) that there is a material risk that the Trust does not qualify for the Monthly Closing Election. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;2.06. <U>Tax Responsible Partner&#146;s Obligations with respect to Revenue Procedure 2003-84.</U> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) The Tax Responsible Partner shall undertake, on behalf of the Trust, the Trust&#146;s obligations under Revenue Procedure 2003-84 (or
successor guidance), including the obligations of the Trust under Section&nbsp;2.5 hereof to: (i)&nbsp;obtain (or cause to be obtained) a taxpayer identification number for the Trust; (ii)&nbsp;file (or cause to be filed) an abbreviated Form 1065
for the Trust&#146;s first taxable year and any other return that might be required of the Trust; (iii)&nbsp;provide, within 45 days of a request by the IRS or a Partner, all the information necessary to compute for purposes of federal income taxes,
a Partner&#146;s income that is excluded from gross income, taxable income, gain, loss, deductions or credit, including sufficient information for a Partner to determine the portion of the interest which is excluded from gross income for purposes of
federal income taxes that may be subject to the alternative minimum tax and information regarding each Partner&#146;s share of any bond premium amortization under Section&nbsp;171 of the Code, any market or original issue discount, and capital gain
or loss; (iv)&nbsp;retain sufficient records, including records regarding the beneficial ownership of Certificates provided to it by Partners and Electing Managers as required by Revenue Procedure 2003-84, to comply with its obligation to provide
information for as long as the Trust is required to provide such information; and (v)&nbsp;at the request of the Trustee, confirm whether or not an expense or liability to be incurred by the Trust would prevent substantially all of the Trust&#146;s
expenses and deductions from being properly allocable pursuant to the provisions of Section&nbsp;2.5(k) hereof. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) The
Trustee will cooperate with the Tax Responsible Partner and upon request will provide the Tax Responsible Partner with information available to the Trustee that may be necessary or helpful for the Tax Responsible Partner to comply with its
obligations under Section&nbsp;2.6 hereof. Except as provided in the previous sentence, it is recognized that, as between the Tax Responsible Partner and the Trustee, the Tax Responsible Partner is primarily responsible for compliance with Sections
2.5 and 2.6 and the Trustee is secondarily responsible therefor only upon notice, from the Tax Responsible Partner or a Holder or Beneficial Owner, of the Tax Responsible Partner&#146;s failure or inability to act, with any costs or expenses of the
Trustee in connection therewith being subject to Section&nbsp;13.5. Until the Trustee receives such notice, the Trustee shall have no liability for any failure to comply with Sections 2.5 and 2.6. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;2.07. <U>Intention of Parties</U> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">It is the express intent of the parties hereto that the transfer of the Bonds by the Trustor to the Trustee pursuant to a Series Trust Agreement or an Additional Deposit Notice, as provided in the
Agreement, be, and be construed as, an absolute sale of the Bonds. It is, further, not the intention of the parties that such transfer be deemed the grant of a security interest in the Bonds by the Trustor to the Trustee to secure a debt or other
obligation of the Trustor. In the event, however, that, notwithstanding the intent of the parties, the Bonds are held to be the property of the Trustor, or if for any other reason a Series Turst Agreement, an Additional Deposit Notice, or the
Agreement is held or deemed to create a security interest in the Bonds, then (a)&nbsp;the Agreement shall constitute a security agreement, and (b)&nbsp;such transfer of Bonds shall be deemed to be a grant by the Trustor to the Trustee of, and the
Trustor hereby grants to the Trustee, to secure all of the Trustor&#146;s obligations hereunder, a security interest in all of the Trustor&#146;s right, title, and interest, whether now owned or hereafter acquired, in and to (i)&nbsp;the Bonds;
(ii)&nbsp;all accounts, chattel paper, deposit accounts, documents, general intangibles, goods, instruments, investment property, letter-of-credit rights, letters of credit, money, and oil, gas, and other minerals, consisting of, arising from, or
relating to, any of the foregoing; and (iii)&nbsp;all proceeds of the foregoing. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE III </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>INTEREST DISTRIBUTIONS </B></FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;3.01. <U>Method of Payment; Trustee
Agent for Payment of Fees.</U> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) With respect to any Series, during any period in which the Certificates are held in the
name of any Securities Depository or its nominee, payments of interest on the Certificates shall be transferred by the Trustee to such Securities Depository under such Securities Depository&#146;s procedures for distribution to the Beneficial
Owners. At any other time, interest shall be distributed as specified in Section&nbsp;10.3(e). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) Each Holder of Floater
Certificates, by such Holder&#146;s purchase of Floater Certificates, appoints the Trustee as its agent in connection with the payment by such Holder of its share of the Trustee Fee and the Remarketing and Liquidity Charges. The Holder of the
Residual Certificates, by such Holder&#146;s purchase of Residual Certificates, appoints the Trustee its agent in connection with the payment by such Holder of its share of the Trustee Fee and the Remarketing and Liquidity Charges and the
reimbursement by such Holder of its share of any Trustee Advances. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;3.02. <U>Date and Priority of Distribution of
Bond Interest.</U> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) With respect to each Series, interest on the Bonds shall be distributed as provided in
Section&nbsp;3.2(b) on each Bond Interest Payment Date; <I>provided </I>that, if the Trustee on the Bond Interest Payment Date has not confirmed receipt of such interest in immediately available funds and does not elect to make a Trustee Advance,
notwithstanding any other provision hereof, such distribution may be delayed until the Business Day on which the Trustee confirms receipt of immediately available funds; and <I>provided, further, </I>that, if the Bond Interest Payment Date is not a
Business Day, then the interest distribution otherwise payable on such Bond Interest Payment Date shall be payable on the Business Day next succeeding such Bond Interest Payment Date or the Business Day succeeding such Bond Interest Payment Date on
which the Trustee confirms receipt of interest in immediately available funds, whichever is later, as though paid on such Bond Interest Payment Date. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) With respect to each Series, payments of interest on the Bonds of each Maturity will be
distributed in the following order of priorities: (i)&nbsp;to pay a <I>pro rata </I>share of the accrued and unpaid Trustee Fee with respect to the Related Stated Amount of Certificates of such Maturity and, if applicable, to reimburse any Trustee
Advances, (ii)&nbsp;to pay the parties entitled thereto a <I>pro rata </I>share of the Remarketing and Liquidity Charges with respect to the Related Stated Amount of Certificates of such Maturity, (iii)&nbsp;to fund a <I>pro rata </I>share of the
interest due on the Floater Certificates, (iv)&nbsp;to pay any Floater Certificate Redemption Amount with respect to such Maturity and, if applicable, any Residual Certificates Redemption Amount with respect to such Maturity, due pursuant to
Section&nbsp;11.9, (v)&nbsp;to pay accrued interest on any Liquidity Loans to the extent interest on the Bonds is sufficient therefor and (vi)&nbsp;to pay any balance to the Related Residual Certificates. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;3.03. <U>Trustee Fee and Remarketing and Liquidity Charges.</U> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) On each Bond Interest Payment Date or other date on which interest is distributed pursuant to Section&nbsp;3.2(a), the Trustee shall,
in the order of priority set forth in Section&nbsp;3.2(b), pay the Trustee Fee and reimburse any Trustee Advances to the Trustee and pay the Remarketing and Liquidity Charges to the Remarketing Agent and the Liquidity Bank in immediately available
funds out of interest paid on the Bonds. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) The Trustee Fee, with respect to each Bond Interest Payment Date, shall be an
amount equal to the sum of (i)&nbsp;the Trustee Fee Rate, <I>multiplied </I>by the aggregate Stated Amount of all Certificates in the Trust on such Bond Interest Payment Date, accrued for the Fee Calculation Period immediately preceding such Bond
Interest Payment Date calculated on the Actual/Actual Basis, <I>plus </I>(ii)&nbsp;the Trustee Advance Fee. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) The
Remarketing and Liquidity Charges, with respect to each Bond Interest Payment Date, shall consist of the sum of: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(i) the fee payable to the Remarketing Agent calculated on the Actual/Actual Basis, which shall be the Remarketing Agent Fee Rate <I>multiplied </I>by the Stated Amount of Floater Certificates Outstanding
on such Bond Interest Payment Date; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) the fee payable to the Liquidity Bank calculated on the
Actual/Three Sixty Basis, which shall be: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(A) the Liquidity Fee Rate specified in the related Series Trust
Agreement <I>multiplied </I>by the average Amount Available from time to time on each day during the applicable Fee Calculation Period, and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(B) <I>subtracting </I>from the result of the immediately preceding product the total of the amounts paid to the Liquidity Bank in respect of such fee during such Fee Calculation Period pursuant to
Sections 5.1, 5.2, 6.2, 11.1, 11.8(c) and 11.8(d); <I>provided </I>that, if a Liquidity Event with respect to the Liquidity Bank shall have occurred and be continuing, the Liquidity Fee Rate on and after the occurrence of such Liquidity Event shall
be zero. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) The Trustor shall reimburse the Trustee and Tender Agent for any additional fees and
expenses payable or incurred by the Trustee or the Tender Agent in connection with the performance of its duties or the exercise of any remedies or the administration of any Trust hereunder, which fees and expenses shall be billed to the Trustor
commensurate with the services rendered. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) The parties hereto may amend the Agreement at any time to change the Remarketing
Agent Fee Rate, the Liquidity Fee Rate or the Trustee Fee Rate; <I>provided </I>that any such amendment complies with the provisions of Section&nbsp;14.4(c) and is effective only as of a Rate Determination Time. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;3.04. <U>Interest Distributable on Floater Certificates. </U>Interest distributions on the Floater Certificates will be made
on either (i)&nbsp;the first Business Day of each month, if so specified in the Series Trust Agreement, or (ii)&nbsp;each Bond Interest Payment Date, if so specified in the Series Trust Agreement (each, in either case, a &#147;Floater Certificate
Interest Payment Date&#148;), in arrears for interest which shall have accrued in the Calculation Period ending on the day before the related Floater Certificate Interest Payment Date. Absent manifest error, the amount of interest distributed on the
Floater Certificates on any Floater Certificate Interest Payment Date shall be the amount determined as the &#147;Floater Certificate Interest Amount&#148; by the Trustee. Such interest shall be payable to Holders of record as of the related Regular
Record Date to the extent of (A)&nbsp;interest on the Bonds, if any, received and distributed by the Trustee on or about such Floater Certificate Interest Payment Date pursuant to Section&nbsp;3.2, <I>plus </I>(B)&nbsp;Trustee Advances, if any, made
by the Trustee pursuant to Section&nbsp;3.7. The Floater Certificate Interest Amount in respect of each Calculation Period for any Floater Certificates shall be calculated on the Actual/Actual Basis by <I>multiplying </I>the Stated Amount of such
Floater Certificates by the Floater Certificate Rate or Rates in effect from time to time for such Calculation Period. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;3.05. <U>Determination of Floater Certificate Rate.</U> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) The Floater Certificate Rate shall be determined by the Remarketing Agent at each Rate Determination Time in accordance with the
procedures and standards set forth in this Section&nbsp;3.5. Each Floater Certificate Rate so determined shall be in effect for the ensuing Interest Period. If the Remarketing Agent fails to determine the Floater Certificate Rate at a Rate
Determination Time, the Floater Certificate Rate and Rate Mode shall be the Floater Certificate Rate and Rate Mode in effect on the preceding Rate Determination Time. The Remarketing Agent shall immediately upon determination inform the Trustee, in
writing and in any event not later than the close of business on the Business Day of such Rate Determination Time, of the Floater Certificate Rate. In addition, the Remarketing Agent shall inform each Holder and/or Beneficial Owner of Certificates
requesting by telephone to be informed of the Floater Certificate Rate. The determination of the Floater Certificate Rate by the Remarketing Agent shall be conclusive and binding, in the absence of manifest error, upon the Trustee, the Tender Agent,
the Liquidity Bank, and the Holders and Beneficial Owners of Floater Certificates and Residual Certificates. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) The Daily, Weekly, Monthly or Term Rate shall be the per annum rate determined by the
Remarketing Agent as the lowest rate of interest that would, in its opinion, under then existing market conditions, without reference to any amounts payable under Sections 5.1(d)(vi), 6.4(c)(ii) and 11.1(a)(iv), result in a sale of the Floater
Certificates at a price equal to the Stated Amount thereof <I>plus </I>accrued and unpaid interest, if any, at the Rate Determination Time; <I>provided </I>that, if the Floater Certificate Rate would otherwise be greater than the Maximum Floater
Certificate Rate, the Floater Certificate Rate shall be the Maximum Floater Certificate Rate. If the Maximum Floater Certificate Rate applicable at any Rate Determination Time shall be higher than the then applicable Minimum Maximum Floater
Certificate Rate, the Remarketing Agent shall determine a new Minimum Maximum Floater Certificate Rate and give the Trustee notice thereof by Electronic Means. Upon receipt of such notice, the Trustee shall forward such notice by Electronic Means to
the other Notice Parties and to the Securities Depositories for transmission to the Holders of Certificates. The Term Rate shall be at least equal to the Preliminary Term Rate required to be set pursuant to Section&nbsp;3.5(c). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) In the event the Rate Mode is the Term Mode, the Remarketing Agent shall determine the Preliminary Term Rate. The Preliminary Term
Rate shall be determined by 1:30 p.m. on the Business Day prior to the beginning of each Term Period and shall be the per annum rate determined by the Remarketing Agent as of such time pursuant to the standards set forth in Section&nbsp;3.5(b). The
Remarketing Agent shall immediately upon determination inform each Holder and/or Beneficial Owner of Certificates requesting by telephone to be informed of the Preliminary Term Rate. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;3.06. <U>Interest Distributable on Residual Certificates.</U> Interest distributions on the Residual Certificates will be
made on each Bond Interest Payment Date as provided in Section&nbsp;3.2. Each Residual Certificate will be entitled to its <I>pro rata </I>share of the balance of the interest received on the Related Maturity of Bonds after payment of the amounts
set forth in clauses (i), (ii), (iii), (iv)&nbsp;and (v)&nbsp;of Section&nbsp;3.2(b). </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;3.07. <U>Trustee
Advances.</U> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) The Trustee may, but need not, advance to Holders of the Floater Certificates on each Floater Certificate
Interest Payment Date an amount up to the related Floater Certificate Interest Amount (each, a &#147;Trustee Advance&#148;). The decision by the Trustee to advance any such amount shall be made in the sole discretion of the Trustee and no decision
to advance funds shall impose any obligation to advance any further amount. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) The Trustee shall be entitled to receive in
respect of any Trustee Advances a fee (the &#147;Trustee Advance Fee&#148;), which shall be calculated based on the method and paid on the dates and in accordance with the priority of the Trustee Fee, as shall be set forth in the Series Trust
Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) Trustee Advances shall be reimbursed from interest payments received on the Bonds as provided in Sections 3.2
and as elsewhere provided herein upon the withdrawal, sale or redemption of Bonds. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) Although it is expected that the
Trustee will be reimbursed for Trustee Advances from interest on or the proceeds of the withdrawal, sale or redemption of a particular Maturity of Bonds as provided herein, the security interest of the Trustee granted pursuant to Section&nbsp;3.7(e)
extends to all Maturities of Bonds of the related Series and, if for any reason the Trustee is not reimbursed for such Trustee Advances from such interest or proceeds with respect to a particular Maturity of Bonds, the Trustee shall be entitled to
be reimbursed for such Trustee Advances from the interest or proceeds with respect to other Maturities of Bonds of the related Series. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) As security for the payment of all unreimbursed Trustee Advances (regardless of the
Maturity with respect to which such Trustee Advance was made), the Trust hereby assigns and pledges to the Trustee and grants to the Trustee a first priority security interest in all of its right, title and interest, whether now owned or hereafter
acquired, in, to, and under all Bonds (regardless of Maturity) and all proceeds thereof. The Trustor has taken, or caused to be taken, all applicable steps required for the perfection of the security interest created pursuant to this paragraph, and
shall take, or cause to be taken, all steps necessary to continue such perfection throughout the term of the Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(f)
By purchasing any Certificate or any beneficial interests therein, the Holders and Beneficial Owners of Certificates shall be deemed to acknowledge that the Bonds and all proceeds thereof are subject to the security interest granted pursuant to
Section&nbsp;3.7(e). </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE IV </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>OPTIONAL TENDER </B></FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;4.01. <U>Optional Tender in Daily, Weekly,
Monthly and Term Mode.</U> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) By the purchase and acceptance of Floater Certificates, each Holder and Beneficial Owner of
Floater Certificates (other than Liquidity Floater Certificates) acquires the right to exercise the Tender Option in the Daily, Weekly, Monthly and Term Mode with Term Periods 30 days or less in duration prior to the earlier of (i)&nbsp;the
Scheduled Expiration Date, (ii)&nbsp;the Last Designated Termination Date, or (iii)&nbsp;the occurrence of a Tender Option Termination Event with respect to all Maturities; <I>provided </I>that, if the Optional Tender Date would occur during the
Grace Period, such Optional Tender Date shall not occur unless the payment default that is subject to such Grace Period shall be cured during such Grace Period, in which case such Optional Tender Date shall be the first Business Day following the
expiration of such Grace Period, so long as no other Tender Option Termination Event shall have occurred on or before such Business Day. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(b) The Trustee is hereby directed to enter into a Liquidity Facility to provide for Liquidity Loans to the Trust to fund the purchase of Floater Certificates (other than Liquidity Floater Certificates)
appropriately tendered or deemed tendered and not remarketed, as provided therein, at the Purchase Price on any Optional Tender Date with proceeds drawn under such Liquidity Facility pursuant to Article IX hereof. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) To exercise its Tender Option, a Beneficial Owner of Floater Certificates is required to
deliver irrevocable written notice of tender, or irrevocable telephonic notice of tender promptly confirmed in writing, to the Remarketing Agent and the Tender Agent, by delivering a Tender Notice specifying the principal amount of such Beneficial
Owner&#146;s Floater Certificates to be purchased on the Optional Tender Date, which shall be in Authorized Denominations. Such notice must be given during business hours on any Business Day prior to the applicable times set forth as follows:
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) for tenders in Daily Mode, 10:30 a.m. on the Optional Tender Date; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) for tenders in Weekly Mode, 3:00 p.m. on the Business Day seven calendar days before the Optional Tender Date;
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) for tenders in Monthly Mode, 3:00 p.m. on the Business Day five Business Days before the Optional
Tender Date; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) for tenders in Term Mode with Term Periods 30 days or less in duration, 3:00 p.m. on the
Business Day preceding the Optional Tender Date; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(v) for tenders in connection with an Optional Tender
Date described in clause (iv)&nbsp;of the definition thereof in Section&nbsp;1.1, 3:00 p.m. on the Business Day five Business Days before such Optional Tender Date. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Tender Agent shall promptly give a copy of each notice to the Liquidity Bank by Electronic Means. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;4.02. <U>Holders to Comply with Tender Procedures</U>.<U> </U>In consideration of the Trustee&#146;s entering into this Master Terms of Trust Agreement and the Trustor&#146;s causing the
Liquidity Bank to execute and deliver the Liquidity Facility, each Holder and Beneficial Owner of Floater Certificates agrees to comply with the requirements herein established for such Tender Option. The tender of Floater Certificates may be made
only to the Tender Agent and only as herein provided. Any tender of Floater Certificates not made in substantial compliance with the terms of this Master Terms of Trust Agreement shall be invalid and shall be rejected; <I>provided </I>that, with the
written consent of the Liquidity Bank, the Tender Agent may waive any defect, irregularity or informality in any notice of tender. The determination by the Tender Agent as to whether a tender of Floater Certificates is made in accordance with the
terms of this Master Terms of Trust Agreement shall be binding upon the Holders and Beneficial Owners of Floater Certificates, the Trustor, the Trustee, the Liquidity Bank and the Remarketing Agent. If a tender of Floater Certificates to the Tender
Agent is rejected pursuant to this Section&nbsp;4.2, notice of such rejection shall be given by Electronic Means (but only to the extent that facsimile numbers or the equivalent thereof are provided to the Tender Agent) to such Holder and/or
Beneficial Owner, and the Floater Certificates shall be transferred by DTC to the DTC Participant of such Beneficial Owner or, if the Certificates are not deposited with DTC, held for delivery to such Beneficial Owner at the principal office of the
Tender Agent or sent by registered mail to such Beneficial Owner at its request, risk and expense. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE V </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>TENDER OPTION TERMINATION EVENTS, LIQUIDITY EVENTS AND MANDATORY TENDER EVENTS </B></FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;5.01. <U>Tender Option Termination Events and Liquidity Events.</U> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) Immediately upon the occurrence of any Tender Option Termination Event or any Liquidity Event with respect to any Maturity of Bonds of
a Series, the right of Holders and Beneficial Owners of the Related Stated Amount of Floater Certificates Selected by Lot as provided in this Section&nbsp;5.1 to exercise the Tender Option shall terminate without notice to such Holders and
Beneficial Owners with respect to such Maturity of Bonds. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) Not later than the first Business Day following the day on
which the Trustee is given notice of the occurrence of any Tender Option Termination Event or any Liquidity Event, the Trustee shall give notice by Electronic Means to the Notice Parties and each Securities Depository, stating that a Tender Option
Termination Event or a Liquidity Event, as applicable, has occurred, and specifying the type of event, and shall direct the Remarketing Agent to obtain a Quotation of Bond Price and to determine the Bond Base Price and the Accrued Market Discount,
Accrued OID and Unamortized Premium, if any, separately with respect to each Maturity of Bonds affected by such Tender Option Termination Event or Liquidity Event. Not later than the first Business Day following the day on which the Remarketing
Agent receives such direction from the Trustee, the Remarketing Agent shall give notice by Electronic Means to the Trustee of the Quotation of Bond Price so obtained, the Bond Base Price so determined and the Accrued Market Discount, Accrued OID and
Unamortized Premium, if any, so calculated with respect to each such Maturity. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) Upon the occurrence of a Tender Option
Termination Event or a Liquidity Event, the Trustee shall proceed to cause the sale of or to deliver out the Bonds of each affected Maturity separately as follows: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) If the Quotation of Bond Price, including accrued and unpaid interest, with respect to such Maturity required by
Section&nbsp;5.1(b) is such that, if all the Bonds of such Maturity were sold at such Quotation of Bond Price, the total proceeds would result, if distributed in accordance with Section&nbsp;5.1(d), in the Beneficial Owners of the Related Stated
Amount of Floater Certificates Selected by Lot receiving less than an amount equal to the Stated Amount thereof <I>plus </I>accrued and unpaid interest thereon at the Floater Certificate Rate, the Beneficial Owner of the Related Residual
Certificates receiving less than an amount equal to the Stated Amount thereof and the Liquidity Bank receiving less than an amount equal to payment of all amounts due on any Liquidity Loans, on the Business Day following the day on which the notice
to the Trustee required by Section&nbsp;5.1(b) is given: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(A) the Trustee shall instruct the Remarketing Agent
to sell a principal amount of the Bonds of such Maturity sufficient to pay the accrued and unpaid Trustee Fee, Trustee Advances, if any, and Remarketing and Liquidity Charges with respect to the Related Stated Amount of Certificates to the date of
such delivery and the Trustee shall distribute the proceeds of such sale to the Trustee, the Remarketing Agent and Liquidity Bank, as the case may be, sufficient to pay all such amounts due and payable; and </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">36 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(B) the Trustee shall instruct DTC to transfer the remaining Bonds of such
Maturity, <I>plus </I>any proceeds from the sale of Bonds pursuant to clause (A)&nbsp;above remaining after the payment of all amounts due and payable pursuant to clause (A)&nbsp;above, as promptly as practicable through the facilities of DTC to the
Beneficial Owners of the Related Stated Amount of Floater Certificates Selected by Lot, the Beneficial Owner of the Related Residual Certificates and the Liquidity Bank, <I>pro rata </I>based on the Stated Amount of each such Beneficial Owner&#146;s
Floater Certificates, the Stated Amount of Residual Certificates and the unpaid principal amount of any Liquidity Loans, respectively, compared, in each case, to the aggregate Related Stated Amount of all Certificates of such Maturity; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>provided </I>that any such Beneficial Owner of Floater Certificates Selected by Lot shall have the right to pay to the Trustee (for distribution to
the Trustee, Remarketing Agent and Liquidity Bank, as the case may be) its <I>pro rata </I>share of the accrued and unpaid Trustee Fee, Trustee Advances and Remarketing and Liquidity Charges in lieu of the sale of such Beneficial Owner&#146;s <I>pro
rata </I>share of the Bonds of such Maturity pursuant to clause (A)&nbsp;above and receive a distribution in kind of such Bonds by notifying the Trustee, the Trustor and the Remarketing Agent by Electronic Means of its election to exercise such
right by 12:00 noon on such Business Day. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) If the Quotation of Bond Price, including accrued and unpaid
interest, with respect to such Maturity required by Section&nbsp;5.1(b) is such that, if all the Bonds of such Maturity were sold at such Quotation of Bond Price, the total proceeds would result, if distributed in accordance with
Section&nbsp;5.1(d), in the Beneficial Owners of the Related Stated Amount of Floater Certificates Selected by Lot receiving at least an amount equal to the Stated Amount thereof plus accrued and unpaid interest thereon at the Floater Certificate
Rate, the Beneficial Owner of the Related Residual Certificates receiving at least an amount equal to the Stated Amount thereof and the Liquidity Bank receiving payment of all amounts due on any Liquidity Loans, the Remarketing Agent shall sell the
Bonds of such Maturity in such manner as the Trustor deems advisable at the highest obtainable price under current market conditions, on the day on which such Quotation of Bond Price is obtained, any such sale to conform to the further requirements
set forth herein. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) The Trustee shall apply the proceeds received from the sale pursuant to Section&nbsp;5.1(c)(ii) of each
Maturity separately in the following order of priority, each priority being fully paid before proceeds are used to pay any lower priority and no payment being made on any priority if the proceeds have been exhausted in the payment of higher
priorities: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) to the Trustee, to pay the accrued and unpaid Trustee Fee with respect to the Related Stated
Amount of Certificates and to reimburse any Trustee Advances; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) to the parties entitled thereto, to pay
the accrued and unpaid Remarketing and Liquidity Charges with respect to the Related Stated Amount of Certificates; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(iii) (A) to the extent any accrued interest is received on the sale of the Bonds of such Maturity, (A)&nbsp;on a <I>pari passu </I>basis based on the Stated Amount of Floater Certificates and the
principal amount of Liquidity Loans, (1)&nbsp;to the Beneficial Owners of the Related Stated Amount of Floater Certificates Selected by Lot, to pay accrued and unpaid interest on such Floater Certificates at the Floater Certificate Rate, and
(2)&nbsp;to the Liquidity Bank, to pay accrued and unpaid interest on any Liquidity Loans, and (B)&nbsp;the remainder of any such accrued interest, <I>less </I>the amounts paid under priority (i)&nbsp;and (ii)&nbsp;above, to be paid to the
Beneficial Owner of the Related Residual Certificates; </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">37 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv)&nbsp;(A) to the Beneficial Owners of the Related Stated Amount of
Floater Certificates Selected by Lot, to pay an amount up to but not exceeding an amount equal to the Stated Amount thereof and (B)&nbsp;to the Liquidity Bank, to pay the amount of the unpaid principal amount of all Liquidity Loans; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(v) to the Beneficial Owner of the Related Residual Certificates, to pay an amount up to but not exceeding the aggregate
amount of any Accrued Market Discount, Accrued OID and Unamortized Premium on the Bonds of such Maturity; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(vi) to the Beneficial Owners of the Related Stated Amount of Floater Certificates Selected by Lot, to pay the Gain Share
to which such Beneficial Owners are entitled; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(vii) to the Beneficial Owner of the Related Residual
Certificates, to pay any balance remaining. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) Upon the completion of payments and deliveries required by this
Section&nbsp;5.1 for all affected Maturities, the Related Stated Amount of Floater Certificates Selected by Lot and the Related Residual Certificates shall be cancelled. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(f) The distributions described in this Section&nbsp;5.1 upon the occurrence of a Liquidity Event are not in any way intended to, and shall not, negate or waive any rights of the Trustee on behalf of the
Holders of Floater Certificates to take any action against, or to pursue any other remedy available to the Trustee on behalf of the Holders of Floater Certificates hereunder, under any other document related hereto, at law, in equity or otherwise
against the Liquidity Bank with respect to any failure by such party to make Liquidity Loans to fund the Purchase Price when required to do so. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;5.02. <U>Mandatory Tender Events.</U> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) Each of the following
events constitutes a &#147;Mandatory Tender Event&#148;; provided that no Tender Option Termination Event shall have occurred; and provided, further, that, if a Mandatory Tender Date would occur during the Grace Period, such Mandatory Tender Date
shall not occur unless the payment default that is subject to such Grace Period shall be cured during such Grace Period, in which case such Mandatory Tender Date shall occur on the first Business Day following the expiration of such Grace Period:
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) with respect to each Maturity separately, and subject to the proviso in Section&nbsp;5.2(b), the Related
Designated Termination Date shall have occurred; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) with respect to all Certificates regardless of
Maturity, the date shall have occurred that is 25 days prior to the Scheduled Expiration Date without (A)&nbsp;an irrevocable and unconditional renewal thereof having been agreed to by the Liquidity Bank or (B)&nbsp;the effectiveness of the
appointment of a Successor Liquidity Bank to assume such obligations pursuant to Section&nbsp;8.3; </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">38 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) with respect to all Certificates regardless of Maturity, notice shall
have been received by the Trustee from the Remarketing Agent or the Liquidity Bank that either (A)&nbsp;five Business Days have elapsed after at least 50% or (B)&nbsp;ten Business Days have elapsed after at least 25% of the Floater Certificates have
been tendered pursuant to Section&nbsp;4.1 without the remarketing of all of such Floater Certificates, and the Remarketing Agent or the Liquidity Bank shall have given notice of its election to declare a Mandatory Tender Event; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) with respect to all Certificates regardless of Maturity, if (but only if) the State Partnership Factors shall have
been adopted in the related Series Trust Agreement, notice shall have been received by the Trustee from the Trustor that the Agreement shall have terminated as provided in Section&nbsp;14.5 upon the occurrence of an Act of Bankruptcy of the Tax
Responsible Partner or failure of the Tax Responsible Partner to maintain the Tax Responsible Partner&#146;s Required Controlling Interest; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(v) with respect to each Maturity separately, notice shall have been received by the Trustee from the Liquidity Bank or the Remarketing Agent that the rating of the Bonds of such Maturity by each of the
Bond Rating Agencies has either been withdrawn or has fallen below the Rating Threshold, and the Liquidity Bank shall have given notice of its election to declare a Mandatory Tender Event; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(vi) with respect to all Certificates regardless of Maturity, notice shall havebeen received by the Trustee from the
Liquidity Bank or the Remarketing Agent that the Floater Certificate Ratio has fallen below the Minimum Floater Certificate Ratio, and the Liquidity Bank shall have given notice of its election to declare a Mandatory Tender Event; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(vii) with respect to all Certificates regardless of Maturity, notice shall have been received by the Trustee from the
Remarketing Agent or the Liquidity Bank that the Remarketing Agent or the Liquidity Bank, as applicable, has reasonable grounds, based on an Opinion of Counsel (which may be from internal counsel of the Remarketing Agent or the Liquidity Bank, as
applicable), for the belief that registration of the Trust is required under the Investment Company Act, or that Certificates have been sold in violation of the Securities Act, and the Remarketing Agent or the Liquidity Bank shall have given notice
of its election to declare a Mandatory Tender Event; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(viii) with respect to all Certificates regardless of
Maturity, notice shall have been received by the Trustee from the Trustor, the Remarketing Agent or the Liquidity Bank that there exist reasonable grounds, based on an Opinion of Counsel (which may be from internal counsel of the Trustor, the
Remarketing Agent or the Liquidity Bank, as applicable), for the belief that the Trust is subject to material tax liabilities such that continuation of the Trust is disadvantageous to the Beneficial Owners of the Floater Certificates or the Residual
Certificates, and the Trustor, the Remarketing Agent or the Liquidity Bank shall have given notice of its election to declare a Mandatory Tender Event; </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">39 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ix) with respect to all Certificates regardless of Maturity, notice shall
havebeen received by the Trustee from the Remarketing Agent or the Liquidity Bank that a Tax Event shall have occurred, and the Remarketing Agent or the Liquidity Bank shall have given notice of its election to declare a Mandatory Tender Event; it
being understood that, upon receipt of notice of any Tax Event from the Issuer&#146;s trustee or other applicable fiduciary, the Trustee shall promptly give notice of such Tax Event to the other Notice Parties and to DTC for transmission to the
Holders of Certificates, regardless of whether or not the Remarketing Agent or the Liquidity Bank, upon the occurrence of such Tax Event, has elected to declare a Mandatory Tender Event pursuant to this Section&nbsp;5.2(a)(ix); </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(x) with respect to all Certificates regardless of Maturity, notice shall have been received by the Trustee from the
Trustor, the Liquidity Bank or the Remarketing Agent that an Act of Bankruptcy shall have occurred with respect to the Liquidity Bank; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(xi) with respect to all Certificates regardless of Maturity, any Mode Change Date or the first Business Day of any Term Period with a duration of more than 30 days, as applicable, subject to the right of
a Beneficial Owner of Floater Certificates to elect to retain Floater Certificates that otherwise would be subject to mandatory tender and purchase (the &#147;Election to Retain&#148;), which right must be exercised, by delivery of a notice to the
Trustee, substantially in the form of Exhibit I hereto (each, a &#147;Notice of Election to Retain&#148;), (A)&nbsp;in the case of a Mandatory Tender Date that is the first Business Day of a Term Period, by 2:30 p.m. on the Business Day preceding
such Mandatory Tender Date or (B)&nbsp;otherwise, by 3:00 p.m. on the Business Day that is five Business Days prior to the related Mandatory Tender Date; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(xii) with respect to all Certificates regardless of Maturity, and subject to the Election to Retain, the effective date of any delivery of any Substitute Liquidity Facility or any appointment of a
Successor Liquidity Bank pursuant to Section&nbsp;8.3; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(xiii) with respect to all Certificates regardless of
Maturity, (A)&nbsp;in the case where the Liquidity Bank has entered into a Reimbursement Agreement and a notice shall have been received by the Trustee from the Liquidity Bank that an event of default (or other event triggering the Liquidity
Bank&#146;s right to declare a Mandatory Tender Event) has occurred under such Reimbursement Agreement, and the Liquidity Bank shall have given notice of its election to declare a Mandatory Tender Event, or (B)&nbsp;in the case where a notice shall
have been received by the Trustee from the Liquidity Bank that an event of default has occurred under the Liquidity Facility; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(xiv) with respect to any Floater Certificates that have been acquired by a Disqualified Transferee, the date the Trustee shall have received notice from the Remarketing Agent or the Trustor that such
Floater Certificates have been acquired by a Disqualified Transferee. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">40 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) Upon the occurrence of a Mandatory Tender Event, the Outstanding Floater Certificates
shall be subject to mandatory tender and purchase from funds drawn under the Liquidity Facility by the Tender Agent on the Mandatory Tender Date and the Outstanding Related Residual Certificates shall be subject to simultaneous redemption from
either a portion of the proceeds of the sale of the Bonds of the respective Related Maturities or a distribution in kind of the Bonds of such Maturities; provided that, if a Mandatory Tender Event occurs under Section&nbsp;5.2(a)(i) or (v)&nbsp;with
respect to less than all the Maturities, only the Related Stated Amount of Floater Certificates of such Maturities Selected by Lot shall be subject to mandatory tender and only the Related Residual Certificates shall be subject to redemption; and
provided, further, that, in case of the occurrence of a Mandatory Tender Event described in Section&nbsp;5.2(a)(xi), (xii)&nbsp;or (xiv), no Residual Certificates shall be subject to redemption pursuant to this Section&nbsp;5.2(b); and provided,
further, that, in case of the occurrence of a Mandatory Tender Event described in Section&nbsp;5.2(a)(xiv), only the Floater Certificates that were acquired by a Disqualified Transferee shall be subject to mandatory tender; and provided, further,
that, in case of any Mandatory Tender Event, the Remarketing Agent may notify the Trustee that the Remarketing Agent elects not to have Floater Certificates which are held by the Remarketing Agent for its own account be paid the Purchase Price on
the Mandatory Tender Date from funds drawn under the Liquidity Facility and in lieu thereof directs the Trustee to sell the Remarketing Agent&#146;s proportionate share of the Related Bonds and pay the liquidation proceeds thereof (but not to exceed
the Purchase Price) to the Remarketing Agent. If the Remarketing Agents makes the election provided for under this Section&nbsp;5.2(b), then the Remarketing Agent shall assist the Trustee in arranging for the sale of the Remarketing Agent&#146;s
proportionate share of the Related Bonds. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) Failure to deliver Floater Certificates upon a mandatory purchase or Residual
Certificates upon a redemption shall not prevent the mandatory purchase or redemption of such Certificates; such Certificates shall be deemed tendered or deemed redeemed whether or not delivered to the Trustee. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) The Trustee shall notify each Securities Depository and each Notice Party of the occurrence of any such Mandatory Tender Event at or
prior to the close of business not later than the Business Day immediately following the Business Day on which an officer of the Trustee assigned to the administration of the Trust obtains knowledge thereof (or in the case of a Mandatory Tender
Event described in Section&nbsp;5.2(a)(i), 14 days prior to the Related Designated Termination Date). Such notice shall set forth the nature and date of the Mandatory Tender Event and the applicable &#147;Mandatory Tender Date,&#148; which shall be:
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) in the case of a Mandatory Tender Event under Section&nbsp;5.2(a)(x), the first Business Day after the
notice required by this subsection (d); </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) in the case of a Mandatory Tender Event under
Section&nbsp;5.2(a)(xi), the Mode Change Date or the first Business Day of any Term Period with a duration of more than 30 days, as applicable; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(iii) in the case of a Mandatory Tender Event under Section&nbsp;5.2(a)(xii), the Business Day preceding the effective date of any delivery of a Substitute Liquidity Facility or any appointment of a
Successor Liquidity Bank pursuant to Section&nbsp;8.3; </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">41 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) in the case of a Mandatory Tender Event under
Section&nbsp;5.2(a)(xiii), a Business Day at least three (3)&nbsp;Business Days after the notice required by this subsection (d); <I>provided </I>that, in the case of any Mandatory Tender Event under Section&nbsp;5.2(a)(xiii) that is not an event of
default under the Reimbursement Agreement, the Mandatory Tender Date shall be a Business Day at least 45 days after the notice required by this subsection (d). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(v) in the case of any other Mandatory Tender Event, a Business Day at least five (5)&nbsp;Business Days after the notice required by this subsection (d); <I>provided, however, </I>that such Mandatory
Tender Date shall not be less than six (6)&nbsp;calendar days prior to the Scheduled Expiration Date. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) In the case of a
Mandatory Tender Event under Section&nbsp;5.2(a)(i) through (x)&nbsp;or on the Business Day on which the notice required by subsection (d)&nbsp;is given, the Trustee shall direct the Remarketing Agent to (i)&nbsp;obtain a Quotation of Bond Price for
all Bonds for a sale that is consummated so that the proceeds thereof will be available for distribution on the Mandatory Tender Date; provided that, if a Mandatory Tender Event under Section&nbsp;5.2(a)(i) or (v)&nbsp;has occurred with respect to
less than all the Maturities, a Quotation of Bond Price for only Bonds of the Related Maturities shall be obtained; and (ii)&nbsp;determine the Bond Base Price and the Accrued Market Discount, Accrued OID and Unamortized Premium on each Maturity of
Bonds to be sold. In the case of a Mandatory Tender Event under Section&nbsp;5.2(a)(xi), (xii)&nbsp;or the Trustee shall direct the Remarketing Agent to remarket the Floater Certificates, subject to mandatory tender on the related Mandatory Tender
Date pursuant to Section&nbsp;9.2, subject in the case of clauses (xi)&nbsp;and (xii)&nbsp;to the right of an Election to Retain such Floater Certificates pursuant to this Section&nbsp;5.2. In the case of a Mandatory Tender Event under
Section&nbsp;5.2(a)(xi), (xii)&nbsp;or (xiv), following the payment of the Purchase Price of tendered Floater Certificates with the proceeds of a draw by the Trustee under the Liquidity Facility pursuant to Section&nbsp;5.2(f), all Floater
Certificates the Purchase Price of which is paid with the proceeds of such draw (such Certificates, thereafter, &#147;Liquidity Floater Certificates&#148;) shall be held by the Trustee in trust until remarketed as provided herein. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(f) The Floater Certificates (other than Liquidity Floater Certificates) subject to mandatory tender on the Mandatory Tender Date shall
be purchased at the Purchase Price. On such Mandatory Tender Date, not later than 11:30 a.m., the Trustee shall draw on the Liquidity Facility (in the case of a Mandatory Tender Event under Section&nbsp;5.2(a)(xii), the Liquidity Facility being
replaced) in an amount equal to the Purchase Price for the Floater Certificates in the manner provided for in Article VIII and forward such Purchase Price in immediately available funds to DTC for distribution to each DTC Participant of a Beneficial
Owner of such Floater Certificates. The failure by the Liquidity Bank to fund such draw on the Liquidity Facility shall constitute a Liquidity Event, with the consequences provided for in Section&nbsp;5.1. On the Mandatory Tender Date, DTC shall
deliver the Floater Certificates to the account of the Trustee against payment therefor of the Purchase Price (together, except in the case of a Mandatory Tender Event described in Section&nbsp;5.2(a)(xi), (xii)&nbsp;or (xiv), with the amount, if
any, specified in priority (F)&nbsp;of Section&nbsp;5.2(i)) to the account of the DTC Participants of the Beneficial Owners of such Floater Certificates without any action on the part of or on behalf of such Beneficial Owners. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(g) The Residual Certificates to be redeemed on the Mandatory Tender Date shall be redeemed
either (i)&nbsp;by a distribution in kind of the Bonds of the Related Maturities pursuant to Section&nbsp;5.2(h) or (ii)&nbsp;at a price equal to the respective <I>pro rata </I>share of such Residual Certificates in the amount distributable to the
Related Residual Certificates pursuant to priorities (C), (E)&nbsp;and (G)&nbsp;of Section&nbsp;5.2(i). On such Mandatory Tender Date, the Trustee shall forward such Bonds or such redemption amount to the Securities Depository in immediately
available funds for distribution to the Beneficial Owner of the Related Residual Certificates. Such Securities Depository shall deliver the Related Residual Certificates to the account of the Trustee against payment therefor of such Bonds or such
redemption amount on the Mandatory Tender Date to the account of the Beneficial Owner of such Residual Certificates without any action on the part of or on behalf of such Beneficial Owner. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(h) On the Mandatory Tender Date (other than with respect to a Mandatory Tender Event under Section&nbsp;5.2(a)(xi), (xii)&nbsp;or
(xiv)), the Trustee shall proceed to cause the sale of or to deliver out the Bonds of each affected Maturity separately as follows: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(i) If the Election Letter states that the provisions of clause (i)&nbsp;of Section5.2(h) shall apply and the Quotation of Bond Price, including accrued and unpaid interest, with respect to such Maturity
required by Section&nbsp;5.2(e) is such that, if all the Bonds of such Maturity were sold at such Quotation of Bond Price, the total proceeds would result, if distributed in accordance with Section&nbsp;5.2(i), in the Liquidity Bank receiving less
than the unpaid principal amount of any Liquidity Loan plus accrued and unpaid interest thereon on the Mandatory Tender Date: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(A) the Trustee shall instruct the Remarketing Agent to sell a principal amount of the Bonds of such Maturity sufficient to pay the accrued and unpaid Trustee Fee, Trustee Advances, if any, and
Remarketing and Liquidity Charges with respect to the Related Stated Amount of Certificates to the date of such delivery and the Trustee shall distribute the proceeds of such sale to the Trustee, the Remarketing Agent and Liquidity Bank, as the case
may be; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(B) the Trustee shall either instruct the Remarketing Agent to sell a principal amount of Bonds of
such Maturity sufficient to pay the unpaid principal amount of any Liquidity Loans <I>plus </I>accrued and unpaid interest thereon and to pay the proceeds thereof to the Liquidity Bank or, at the direction of the Liquidity Bank, instruct DTC to
transfer an amount of the Bonds of such Maturity as promptly as practicable through the facilities of DTC to the account of the DTC Participant of the Trustee and Tender Agent, for the benefit of the Liquidity Bank (such Bonds, thereafter
&#147;Liquidity Bonds&#148;), such that the Liquidity Bank receives Bonds with a market value (based on such Quotation of Bond Price) equal to the unpaid principal amount of any Liquidity Loans <I>plus </I>accrued interest thereon; and </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(C) the Trustee shall distribute any remaining Bonds and any remaining proceeds from the sale of Bonds pursuant to clause
(A)&nbsp;to the Beneficial Owner of the Related Residual Certificates. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) If the Election Letter states that the provisions of clause (i)&nbsp;of
Section&nbsp;5.2(h) shall apply and the Quotation of Bond Price, including accrued and unpaid interest, with respect to such Maturity required by Section&nbsp;5.2(e) is such that, if all the Bonds of such Maturity were sold at such Quotation of Bond
Price, the total proceeds would result, if distributed in accordance with Section&nbsp;5.2(i), in the Liquidity Bank receiving an amount equal to the unpaid principal amount of any Liquidity Loans <I>plus </I>accrued interest thereon, the
Remarketing Agent shall sell the Bonds of such Maturity in such manner as the Trustor deems advisable at the highest obtainable price under current market conditions, on the Mandatory Tender Date, any such sale to conform to the further requirements
set forth herein. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) If the Election Letter states that the provisions of clause (iii)&nbsp;of
Section&nbsp;5.2(h) shall apply (or no Election Letter is delivered) and the Quotation of Bond Price, including accrued and unpaid interest, with respect to such Maturity required by Section&nbsp;5.2(e) is such that, if all the Bonds of such
Maturity were sold at such Quotation of Bond Price, the total proceeds would result, if distributed in accordance with Section&nbsp;5.2(i), in either the Liquidity Bank receiving less than an amount equal to the unpaid principal amount of any
Liquidity Loans <I>plus </I>accrued interest thereon, on the Mandatory Tender Date or the Beneficial Owner of the Related Residual Certificates receiving less than an amount equal to the Stated Amount thereof, on the Mandatory Tender Date:
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(A) the Trustee shall instruct the Remarketing Agent to sell a principal amount of the Bonds of such Maturity
sufficient to pay the accrued and unpaid Trustee Fee, Trustee Advances, if any, and Remarketing and Liquidity Charges with respect to the Related Stated Amount of Certificates to the date of such delivery and the Trustee shall distribute the
proceeds of such sale to the Trustee, the Remarketing Agent and Liquidity Bank, as the case may be; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(B) the
Trustee shall instruct DTC to transfer an amount of the Bonds of such Maturity as promptly as practicable through the facilities of DTC to the respective accounts of (i)&nbsp;the DTC Participant of the Trustee and Tender Agent, for the benefit of
the Liquidity Bank (such Bonds, thereafter &#147;Liquidity Bonds&#148;) and (ii)&nbsp;the Beneficial Owner of Related Residual Certificates, such that the Liquidity Bank and Beneficial Owner of Related Residual Certificates each receives a pro rata
principal amount of the Bonds of such Maturity based on the aggregate principal amount of Liquidity Loans and the aggregate Stated Amount of the Related Residual Certificates, respectively; provided that the Liquidity Bank shall have the right to
direct the Remarketing Agent to sell Bonds which would otherwise have been distributed to the Liquidity Bank , in which case the proceeds of such liquidation shall be distributed to the Liquidity Bank; and </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(C) the Trustee shall distribute any remaining Bonds and any remaining proceeds from the sale of Bonds pursuant to clause
(A)&nbsp;to the Beneficial Owner of the Related Residual Certificates. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) If the Election Letter states that the provisions of clause
(iii)&nbsp;of Section&nbsp;5.2(h) shall apply (or no Election Letter is delivered) and the Quotation of Bond Price, including accrued and unpaid interest, with respect to such Maturity required by Section&nbsp;5.2(e) is such that, if all the Bonds
of such Maturity were sold at such Quotation of Bond Price, the total proceeds would result, if distributed in accordance with Section&nbsp;5.2(i), in the Liquidity Bank receiving an amount equal to the unpaid principal amount of any Liquidity Loans
<I>plus </I>accrued interest thereon and the Beneficial Owner of the Related Residual Certificates receiving at least an amount equal to the Stated Amount thereof, the Remarketing Agent shall sell the Bonds of such Maturity in such manner as the
Trustor deems advisable at the highest obtainable price under current market conditions, on the Mandatory Tender Date, any such sale to conform to the further requirements set forth herein. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) On the Mandatory Tender Date, the proceeds of the sale, if any, of each Maturity separately pursuant to Section&nbsp;5.2(h)(ii) or
(iv)&nbsp;shall be distributed in the following order of priority, each priority being fully paid before proceeds are used to pay any lower priority and no payment being made on any priority if the proceeds have been exhausted in the payment of
higher priorities: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(A) to the Trustee, to pay the accrued and unpaid Trustee Fee with respect to the Related
Stated Amount of Certificates and to reimburse any Trustee Advances; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(B) to the parties entitled thereto, to
pay the accrued and unpaid Remarketing and Liquidity Charges with respect to the Related Stated Amount of Certificates; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(C) to the Liquidity Bank, to the extent accrued interest is received on the sale of the Bonds of such Maturity, to pay accrued and unpaid interest on any Liquidity Loans, the remainder of any such
accrued interest, <I>less </I>the amounts paid under priority (A)&nbsp;and (B)&nbsp;above, to be paid to the Beneficial Owner of Related Residual Certificates; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(D) (1) if the Election Letter states that the provisions of clause (i)&nbsp;of Section&nbsp;5.2(h) shall apply, to the Liquidity Bank, to pay an amount up to but not exceeding an amount equal to the
principal amount of any unpaid Liquidity Loans, and (2)&nbsp;if the Election Letter states that the provisions of clause (iii)&nbsp;of Section&nbsp;5.2(h) shall apply, to the Liquidity Bank, to pay an amount equal to the principal amount of any
unpaid Liquidity Loans, and to the Beneficial Owner of the Related Residual Certificates an amount equal to the Stated Amount thereof on a <I>pari passu </I>basis based on the unpaid principal amount of any Liquidity Loans and the Stated Amount of
the Related Residual Certificates, respectively; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(E) to the Beneficial Owner of Related Residual
Certificates, to pay an amount up to but not exceeding the aggregate amount of any Accrued Market Discount, Accrued OID and Unamortized Premium on the Bonds of such Maturity; </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(F) to the Beneficial Owners of the Related Stated Amount of Floater
Certificates Selected by Lot tendered on the Mandatory Tender Date an amount equal to the Gain Share to which such Holders are entitled; <I>provided </I>that, in the case of a Mandatory Tender Event under Section&nbsp;5.2(a)(xi), (xii)&nbsp;or
(xiv), no amount shall be paid pursuant to this priority (F); and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(G) to the Beneficial Owner of Related
Residual Certificates, to pay the balance remaining. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(j) Upon the completion of payments and deliveries required by this
Section&nbsp;5.2 for all affected Maturities, the Related Stated Amount of Floater Certificates Selected by Lot and the Related Residual Certificates shall be cancelled. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE VI </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>TRANSFER OF ADDITIONAL BONDS; WITHDRAWAL OF BONDS
</B></FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;6.01. <U>Transfer of Additional Bonds After the Deposit Date.</U> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) With the consent of the Beneficial Owner of the Residual Certificates, on any Floater Certificate Interest Payment Date or the date of
any Rate Determination Time after the Deposit Date with respect to any Series (each, an &#147;Additional Deposit Date&#148;), the Trustor may deliver or cause to be delivered to the Trustee Bonds that satisfy the Bond Criteria; <I>provided </I>that
the requirements set forth in this Section&nbsp;6.1 are satisfied; it being understood that, even if such Bonds are of the same Maturity as Bonds already held in the Trust, such Bonds shall be treated as a separate and distinct Maturity of Bonds for
all purposes of this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) With respect to each such delivery of Bonds on an Additional Deposit Date, the Trustor
hereby represents and warrants that (i)&nbsp;such Bonds, at the time of their original issuance, were delivered with an Opinion of Counsel generally to the effect that interest on the Bonds is excludable from gross income for federal income tax
purposes, (ii)&nbsp;immediately prior to the delivery thereof to the Trustee on behalf of the Trust, the Trustor owns such Bonds free and clear of any lien, pledge, encumbrance or any other security interest, and (iii)&nbsp;upon the delivery
thereof, the Trustor thereby releases all right, title and interest in and to such Bonds to the Trustee on behalf of the Trust for the related Series. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(c) After obtaining the consent of the Liquidity Bank to an appropriate increase in the Amount Available, the Remarketing Agent at the direction of the Trustor shall, at least fifteen days prior to each
Additional Deposit Date, deliver a notice to the Notice Parties, substantially in the form of Exhibit C (each, an &#147;Additional Deposit Notice&#148;), containing the following items: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) the name of the Bonds; the name of the Issuer; the Principal Credit Source, if any; whether or not the Bonds are
Prerefunded Bonds as of the Additional Deposit Date; and the principal amount of the Bonds, the Accrued Interest on Bonds and the Bond Base Price as of the Additional Deposit Date; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) with respect to each Maturity of Bonds, a certification that the sum of the Related Stated Amount of Floater
Certificates of such Maturity and the Stated Amount of the Related Residual Certificates of such Maturity will not exceed the Bond Base Price of such Maturity of Bonds as of the Additional Deposit Date; </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) a certification that the Bonds satisfy the Bond Criteria; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) a reaffirmation of the representations and warranties set forth in Section&nbsp;6.1(b); </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(v) if Proportionality has been adopted in the related Series Trust Agreement, the Level of Proportionality that will
apply with respect to each Maturity of Bonds; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(vi) if Proportionality and/or the State Partnership Factors
have been adopted in the related Series Trust Agreement, directions to the Trustee to execute and deliver additional Residual Certificates pursuant to Section&nbsp;10.8(c), including, by Maturity, the Stated Amount thereof and delivery instructions
with respect thereto; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(vii) directions to the Trustee to notify the Beneficial Owners of Floater
Certificates, through the Securities Depository, of their option to purchase a proportionate amount of the additional Floater Certificates to be executed and delivered pursuant to Section&nbsp;10.8(c), such option to be exercised by contacting the
Trustor as provided in Section&nbsp;6.1(d), attaching a form of notice that the Trustee can use for such purpose; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(viii) a certification that the Trustor will seek confirmation from each Floater Certificate Rating Agency that the ratings of such Floater Certificate Rating Agency on the Floater Certificates will not,
as a result of such transfer of additional Bonds and issuance of additional Floater Certificates, be withdrawn or reduced below the rating prior to such transfer and issuance; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ix) a certification that the Trustee will receive an Opinion of Counsel of appropriate special tax and securities
counsel to the effect that such transfer of additional Bonds and issuance of additional Floater Certificates will not result in the withdrawal of, or modification of the conclusions of, any opinion previously delivered regarding tax and securities
law treatment of the Certificates; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(x) if the related Series is a Premium Funded Series, a revised
Amortization Schedule of Base Prices; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(xi) such other items as may be specified in the related Series
Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) The Trustee shall notify each Securities Depository of each Additional Deposit Date no later than the
Business Day immediately following the date of receipt by the Trustee of the Additional Deposit Notice required by Section&nbsp;6.1(c) by transmitting a copy of such Additional Deposit Notice to each Securities Depository for retransmission to the
Beneficial Owners of Floater Certificates. Each such Beneficial Owner of Floater Certificates shall have the option to purchase a proportionate Stated Amount of the additional Floater Certificates to be executed and delivered pursuant to
Section&nbsp;10.8(c) such that the percentage of the aggregate Outstanding Stated Amount of Floater Certificates owned by such Beneficial Owner will remain the same following the Additional Deposit Date. A Beneficial Owner shall exercise the
foregoing option by contacting the Trustor on or prior to the third Business Day preceding the Additional Deposit Date. Thereupon, the Trustor shall allocate to such Beneficial Owner its proportionate share of the additional Floater Certificates
delivered to the Trustor pursuant to Section&nbsp;10.8(c) and shall provide directions to the Trustee to execute and deliver such additional Floater Certificates, including the Stated Amount thereof and delivery instructions with respect thereto.
</FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) On or prior to the Additional Deposit Date, the Trustor will obtain confirmation from
each Floater Certificate Rating Agency that the ratings of such Floater Certificate Rating Agency on the Floater Certificates will not, as a result of such transfer of additional Bonds and issuance of additional Floater Certificates, be withdrawn or
reduced below the rating prior to such transfer and issuance. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(f) On or prior to the Additional Deposit Date, the Trustor
will cause to be delivered to the Trustee an Opinion of Counsel of appropriate special tax and securities counsel to the effect that such transfer of additional Bonds and issuance of additional Floater Certificates will not result in the withdrawal
of, or modification of the conclusions of, any opinion previously delivered regarding tax and securities law treatment of the Certificates. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;6.02. <U>Right of Withdrawal.</U> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) With respect to any Series,
the Beneficial Owner of Residual Certificates may withdraw a proportionate share (up to 100%) of the Bonds of any Maturity of such Series by delivering a proportionate share (up to 100%) of the Related Stated Amount of Floater Certificates of such
Maturity and, if Proportionality shall have been adopted in the related Series Trust Agreement, a proportionate share (up to 100%) of the Related Residual Certificates of such Maturity (such that, following such withdrawal, Proportionality is
maintained, as nearly as possible, subject to adjustment due to all applicable Authorized Denominations and rounding conventions). No such withdrawal may occur during a Closed Period, if applicable pursuant to Section&nbsp;6.2(c), and any such
withdrawal shall be subject to the provisions of Sections 11.8(d). Bonds may be withdrawn by: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) causing the
Securities Depositories to deliver the required Stated Amount of Floater Certificates and, if Proportionality shall have been adopted in the related Series Trust Agreement, the required Stated Amount of Related Residual Certificates free to the
Trustee (in the case of Floater Certificates, by book-entry transfer into the Trustee&#146;s accounts at DTC); </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) delivering to the Trustee a request substantially in the form of Exhibit D (each, a &#147;Withdrawal Request&#148;);
and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) paying to the Trustee a sum sufficient to pay (A)&nbsp;any tax or other governmental or Securities
Depository charge that may be imposed in relation thereto and (B)&nbsp;the accrued and unpaid Trustee Fee and Remarketing and Liquidity Charges with respect to the Related Stated Amount of Certificates being delivered and to reimburse any Trustee
Advances; <I>provided, however</I>, that the amount due in respect of the accrued and unpaid Remarketing and Liquidity Charges shall not exceed the difference between (A)&nbsp;the accrued and unpaid interest on the Bonds being withdrawn and
(B)&nbsp;the sum of the accrued and unpaid interest on the Stated Amount of Floater Certificates being delivered <I>plus </I>the amount due in respect of the accrued and unpaid Trustee Fee. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) If the Beneficial Owner of Residual Certificates complies with the foregoing, the
Trustee shall deliver free from its account at DTC by book-entry transfer as specified in the Withdrawal Request the principal amount of Bonds of the designated Maturity entitled to be withdrawn. Such principal amount of Bonds will, however, be
reduced by a principal amount equal to the payment of money, if any, to such Beneficial Owner from the Odd-Lot Subaccount pursuant to Section&nbsp;11.8(d). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(c) Unless the Beneficial Owner of Residual Certificates is also the Beneficial Owner of 100% of the Floater Certificates of the Series, withdrawal of Bonds cannot be made during a &#147;Closed
Period,&#148; which term is defined as any period: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) commencing on the third Business Day immediately
preceding any Bond Interest Payment Date and ending immediately prior to the opening of business on such Bond Interest Payment Date; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(ii) commencing on the date of mailing a notice of redemption and ending on the related Bond Redemption Date; <I>provided </I>that, in the case of a partial redemption after Selection by Lot has been
made, such Closed Period shall apply only to the Floater Certificates Selected by Lot for such redemption; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) commencing upon the giving of notice by the Trustee of a Tender Option Termination Event or a Liquidity Event
through to the resulting cancellation of Certificates; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) commencing upon the giving of notice by the
Trustee of a Mandatory Tender Event through to the resulting cancellation of Certificates; <I>provided </I>that, if such Mandatory Tender Event applies with respect to less than all the Maturities, after Selection by Lot has been made, such Closed
Period shall apply only to the Floater Certificates Selected by Lot and the Related Residual Certificates and Related Maturities of Bonds; or </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(v) commencing when the Trustee receives notice that a Tender Demand Owner seeks a Mandatory Tender of Floater Certificates and ending on the Tender Date; <I>provided </I>that, after Selection by Lot has
been made, such Closed Period shall apply only to the Floater Certificates with respect to which such tender is demanded. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d)
The Trustee shall use its best efforts to effect delivery of Bonds by the close of business on any day when the Withdrawal Request has been submitted prior to 10:00 a.m. on such day and provide notice pursuant to Section&nbsp;14.2 to the Liquidity
Bank and each Holder of any withdrawal of Bonds pursuant to this Section&nbsp;6.2. If applicable, the Trustee shall deliver to the Liquidity Bank a certificate in the appropriate form annexed to the Liquidity Facility, appropriately completed in
order to effect a reduction of the Amount Available under the Liquidity Facility. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">49 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) Notwithstanding anything herein to the contrary, the Related Stated Amount of Residual
Certificates of any Maturity of a Series must at all times, whether or not Proportionality shall have been adopted in the related Series Trust Agreement, both prior to and after any partial withdrawal of Bonds of such Maturity pursuant to this
Section&nbsp;6.2, be at least equal to $5,000. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;6.03. <U>Change in Proportionality.</U> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) With respect to any Maturity of a Series, the Beneficial Owner of the Residual Certificates may decrease the Level of Proportionality
of such Maturity, by delivering a Stated Amount of Floater Certificates of such Series and obtaining delivery of an equivalent Stated Amount of Related Residual Certificates of the designated Maturity, by: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) causing the Securities Depository to deliver such Stated Amount of Floater Certificates free to the Trustee by
book-entry transfer into the Trustee&#146;s accounts at such Securities Depository; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) delivering a notice
to the Trustee substantially in the form of Exhibit H (each, a &#147;Notice of Change in Proportionality&#148;) at least five Business Days prior to such date of delivery, which Notice of Change in Proportionality: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(A) if Proportionality shall have been adopted in the related Series Trust Agreement, shall specify, for each Maturity of
the Series on and after such date of delivery, (1)&nbsp;the Level of Proportionality, (2)&nbsp;the Related Stated Amount of Floater Certificates and (3)&nbsp;the Stated Amount of Related Residual Certificates; or </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(B) if Proportionality shall not have been adopted in the related Series Trust Agreement, shall state that such
Beneficial Owner elects to have Proportionality adopted for such Series on and after such date of delivery and shall specify, for each Maturity of the Series on and after such date of delivery, (1)&nbsp;the Level of Proportionality, (2)&nbsp;the
Related Stated Amount of Floater Certificates and (3)&nbsp;the Stated Amount of Related Residual Certificates; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) paying to the Trustee a sum sufficient to pay any tax or other governmental or Securities Depository charge that
may be imposed in relation thereto; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) (iv) if such Series is a Premium Funded Series, delivering or
causing to be delivered a revised Amortization Schedule of Base Prices. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) If the Beneficial Owner of Residual Certificates
complies with the foregoing requirements of Section&nbsp;6.3(a), the Trustee shall, on the Floater Certificate Interest Payment Date or the date of a Rate Determination Time specified in the Notice of Change in Proportionality, execute and deliver
to such Beneficial Owner additional Related Residual Certificates of the designated Maturity in a Stated Amount equal to the Stated Amount of Floater Certificates being delivered (such that, following such issuance of additional Related Residual
Certificates, the designated Level of Proportionality is maintained, as nearly as possible, subject to adjustment due to all applicable Authorized Denominations and rounding conventions). The Floater Certificates so delivered to the Trustee shall be
cancelled. The Trustee shall provide notice pursuant to and in accordance with Section&nbsp;14.2 to the Remarketing Agent and the Liquidity Bank of any execution and delivery of additional Related Residual Certificates pursuant to this
Section&nbsp;6.3(a) and (b). </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">50 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) With respect to any Maturity of a Series, the Beneficial Owner of Related Residual
Certificates may increase the Level of Proportionality of such Maturity, by delivering a Stated Amount of Related Residual Certificates of such Maturity and obtaining delivery of an equivalent Stated Amount of Floater Certificates of such Series (so
long as such Beneficial Owner maintains a Stated Amount of Related Residual Certificates of such Maturity at least equal to $5,000), by: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(i) causing the Securities Depository to deliver a specified Stated Amount of Related Residual Certificates of such Maturity free to the Trustee by book-entry transfer into the Trustee&#146;s accounts at
such Securities Depository; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) delivering a Notice of Change in Proportionality at least ten
(10)&nbsp;Business Days prior to such date of delivery, which Notice of Change in Proportionality: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(A) if
Proportionality shall have been adopted in the related Series Trust Agreement, shall specify, for each Maturity of the Series on and after such date of delivery, (1)&nbsp;the Level of Proportionality, (2)&nbsp;the Related Stated Amount of Floater
Certificates and (3)&nbsp;the Stated Amount of Related Residual Certificates; or </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(B) if Proportionality shall
not have been adopted in the related Series Trust Agreement, shall state that such Beneficial Owner elects to have Proportionality adopted for such Series on and after such date of delivery and shall specify, for each Maturity of the Series on and
after such date of delivery, (1)&nbsp;the Level of Proportionality, (2)&nbsp;the Related Stated Amount of Floater Certificates and (3)&nbsp;the Stated Amount of Related Residual Certificates; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) paying to the Trustee a sum sufficient to pay any tax or other governmental or Securities Depository charge or any
other charges that may be imposed in relation thereto and, if such date of delivery is not a Floater Certificate Interest Payment Date, an amount equal to the accrued and unpaid Floater Certificate Interest Amount on such Floater Certificates as of
such date of delivery, such amount to be held in an account separate and apart from all other funds by the Trustee uninvested and paid to the Holders of Floater Certificates on the next Floater Certificate Interest Payment Date; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) delivering or causing to be delivered to the Trustee the written consent of the Liquidity Bank to such execution and
delivery of additional Floater Certificates and evidence satisfactory to the Trustee that the Amount Available has been appropriately increased; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(v) delivering or causing to be delivered to the Trustee evidence that, after giving effect to such additional Floater Certificates, the Floater Certificate Rate will not exceed the Maximum Floater
Certificate Rate and the Floater Certificate Ratio will not be below the Minimum Floater Certificate Ratio; and </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">51 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(vi) if such Series is a Premium Funded Series, delivering or causing to be
delivered a revised Amortization Schedule of Base Prices. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) On the Business Day following receipt of any Notice of Change
in Proportionality, the Trustee shall transmit a copy of such Notice of Change in Proportionality to the Remarketing Agent and to the Securities Depositories for transmission to the Beneficial Owners of Certificates. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) If the Beneficial Owner of Residual Certificates complies with the foregoing requirements of Section&nbsp;6.3(c), the Trustee shall
on the Floater Certificate Interest Payment Date or the date of a Rate Determination Time specified in the Notice of Change in Proportionality execute additional Floater Certificates in a Stated Amount equal to the aggregate Stated Amount of
Residual Certificates delivered to the Trustee by such Beneficial Owner and deliver such additional Floater Certificates to such Beneficial Owner as specified in such notice. The Residual Certificates so delivered to the Trustee shall be cancelled.
</FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;6.04. <U>Mandatory Tender of Floater Certificates Upon Demand of Residual Certificates Holder.</U> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) In connection with the exercise of its right of withdrawal pursuant to Section&nbsp;6.2 or its right to decrease the Level of
Proportionality pursuant to Section&nbsp;6.3(a) and (b), the Beneficial Owner of Residual Certificates shall have the right at any time prior to the Last Designated Termination Date to cause the mandatory tender to such Beneficial Owner of a Stated
Amount of Floater Certificates, <I>provided </I>that such Beneficial Owner complies with the provisions of this Section&nbsp;6.4. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(b) Any Beneficial Owner of Residual Certificates causing a mandatory tender pursuant to this Section&nbsp;6.4 is hereinafter referred to as the &#147;Tender Demand Owner&#148;. The mandatory tender shall
be accomplished as described in this Section&nbsp;6.4 by the Tender Demand Owner&#146;s submitting prior to 10:00 a.m. on any Business Day a notice substantially in the form of Exhibit E containing the following items to the Trustee: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) a statement that such Tender Demand Owner is the Beneficial Owner of the Residual Certificates; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) the identity of such Tender Demand Owner and the identity of its DTC Participant; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) the specified aggregate Stated Amount in Authorized Denominations of Floater Certificates to be tendered;
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) the date on which such tender is to occur (a &#147;Tender Date&#148;), which shall be (A)&nbsp;if the
Daily Mode or the Weekly Mode shall be in effect, any Business Day at least five Business Days after the date of such notice, or (B)&nbsp;if the Monthly Mode or the Term Mode shall be in effect, the date of a Rate Determination Time at least five
Business Days after the date of such notice; and </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(v) with respect to each Maturity, an election to either (A)&nbsp;withdraw a
proportionate share (up to 100%) of the Bonds of such Maturity pursuant to Section&nbsp;6.2, equal to the proportionate share (up to 100%) of the Related Stated Amount of Floater Certificates of such Maturity represented by the Floater Certificates
subject to tender pursuant to this Section&nbsp;6.4 or (B)&nbsp;direct the Trustee to execute and deliver a Stated Amount of additional Related Residual Certificates, pursuant to Section&nbsp;6.3(a) and (b), equal to the Stated Amount of the Floater
Certificates subject to tender. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) The price to be paid in consideration of such tender of Floater Certificates (the
&#147;Tender Price&#148;) shall equal the sum of: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) the Stated Amount of Floater Certificates being
purchased plus accrued and unpaid interest thereon to the Tender Date at the Floater Certificate Rate, and </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) the Gain Share to which the Holders of the Floater Certificates being purchased would be entitled assuming the Bonds
were sold, which Gain Share shall be determined based on a Quotation of Bond Price obtained by the Remarketing Agent on the Business Day following the date notice is given by the Tender Demand Owner to the Trustee. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) Not later than the Business Day of receipt of a notice described in Section&nbsp;6.4(b), the Trustee shall transmit the contents of
such notice to DTC and the Remarketing Agent by Electronic Means and shall request the Remarketing Agent to furnish to the Trustee and the Tender Demand Owner a Quotation of Bond Price and the Bond Base Price for the Business Day following the date
notice is given by the Tender Demand Owner to the Trustee. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) If the Floater Certificates to be tendered shall be less than
100% of the Outstanding Floater Certificates, the Floater Certificates to be tendered shall be Selected by Lot and the Beneficial Owners of the Floater Certificates so Selected by Lot shall be notified thereof on the second Business Day following
the day of DTC&#146;s receipt of the notice pursuant to Section&nbsp;6.4(d). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(f) The Floater Certificates so Selected by Lot
are subject to mandatory tender on the Tender Date specified therein against payment of the Tender Price. On the Tender Date, the Trustee shall instruct the Tender Demand Owner to forward the Tender Price to the Tender Agent in immediately available
funds by 11:00 a.m. on the Tender Date. Not later than 11:30 a.m. on the Tender Date, the Tender Agent shall draw on the Liquidity Facility in an amount equal to the portion of the Tender Price provided for in clause (i)&nbsp;of the definition
thereof in Section&nbsp;6.4(c). Any draw properly made by the Trustee on the Tender Date shall be paid by the Liquidity Bank in immediately available funds by 2:00 p.m. on such date. If the Tender Agent shall have received the Tender Price from the
Tender Demand Owner by 11:00 a.m. on the Tender Date: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) the Tender Agent shall forward (A)&nbsp;the portion
of the Tender Price provided for in clause (i)&nbsp;of the definition thereof in Section&nbsp;6.4(c) received from the Liquidity Bank and (B)&nbsp;the portion of the Tender Price provided for in clause (ii)&nbsp;of the definition thereof in
Section&nbsp;6.4(c) received from such Tender Demand Owner in immediately available funds to DTC for distribution to each DTC Participant of a Beneficial Owner of Floater Certificates Selected by Lot pursuant to Section&nbsp;6.4(e); and </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">53 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) the Tender Agent shall forward the portion of the Tender Price provided
for in clause (i)&nbsp;of the definition thereof in Section&nbsp;6.4(c) so received from the Tender Demand Owner in immediately available funds to the Liquidity Bank. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">DTC shall deliver the Floater Certificates so Selected by Lot against payment therefor of the sum so specified by book-entry transfer on the Tender Date to the account of the DTC Participant of the Tender
Demand Owner without any action on the part of or on behalf of the Beneficial Owners of the Floater Certificates so Selected by Lot. The Tender Demand Owner shall thereupon take all actions required to have the Floater Certificates so Selected by
Lot submitted for either withdrawal of Bonds pursuant to Section&nbsp;6.2 or execution and delivery of additional Related Residual Certificates pursuant to Section&nbsp;6.3(a) and (b)&nbsp;within five Business Days of receipt. If the Tender Agent
does not receive the Tender Price from the Tender Demand Owner by 11:30 a.m. on the Tender Date: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) the
Trustee shall immediately return the portion of the Tender Price received from the Liquidity Bank in immediately available funds to the Liquidity Bank; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(ii) the purchase of the Floater Certificates so specified shall not take place on such Tender Date. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(g) If a Tender Demand Owner has given a notice as permitted by Section&nbsp;6.4(b), but (i)&nbsp;such Tender Demand Owner fails to provide the sum specified in Section&nbsp;6.4(c) for the purchase of the
Floater Certificates specified therein or to take the actions required by Section&nbsp;6.4(f) or (ii)&nbsp;the Liquidity Bank fails to make Liquidity Loans to fund the portion of the Tender Price as described in Section&nbsp;6.4(f), in either case
on the Tender Date therefor, the purchase of the Floater Certificates so specified shall not take place on such Tender Date. </FONT></P>
<P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE VII </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>CHANGE OF RATE MODE </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;7.01. <U>Selection of Rate Mode. </U>Except during an Initial Interest Period during which the Initial Rate Mode for a Series of Certificates and the Initial Rate for such Series shall
prevail, the Floater Certificate Rate shall be determined by reference to one of the Rate Modes. Each Series Trust Agreement shall specify any Initial Rate Mode, Initial Rate and Initial Interest Period for the related Series of Certificates. The
Trustor may effect a change in the Rate Mode to begin on any Mode Change Date subject to the provisions of this Article VII. With respect to any Series of Certificates, only one Rate Mode shall be in effect at any time. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">54 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;7.02. <U>Changes Among Rate Modes; Changes in Term Periods.</U> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) With respect to any Series of Certificates, if the Remarketing Agent, at the direction of the Trustor and with the prior written
consent of the Beneficial Owner of Residual Certificates, determines to change the Rate Mode to a Daily, Weekly or Monthly Mode from the Daily, Weekly, Monthly or Term Mode, it shall give notice to the other Notice Parties by Electronic Means of its
intention to effect such a change in the Rate Mode and the proposed Mode Change Date no later than the 14th day preceding the proposed Mode Change Date, which Mode Change Date shall also constitute a Mandatory Tender Date under
Section&nbsp;5.2(a)(xi). The Trustee shall, at or prior to the close of business on the Business Day immediately following the Business Day on which it receives such notice, deliver a copy of such notice, together with the notice required by
Section&nbsp;5.2(d), by Electronic Means to each Floater Certificate Rating Agency and to each Securities Depository for transmission to Beneficial Owners stating the new Rate Mode, the proposed Mode Change Date, that such proposed Mode Change Date
also constitutes a Mandatory Tender Date and the procedures for the exercise of the Election to Retain. Whereupon, on the Mode Change Date so specified, the new Rate Mode shall become effective without the requirement of further action. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) With respect to any Series of Certificates, if the Remarketing Agent at the direction of the Trustor and with the prior written
consent of the Beneficial Owner of Residual Certificates, determines to change to the Term Mode from the Daily, Weekly or Monthly Mode, it shall give notice by Electronic Means to the other Notice Parties of its intention to effect such a change to
Term Mode, the proposed Mode Change Date and the proposed Term Periods in Term Mode no later than the 14th day preceding the proposed Mode Change Date, which Mode Change Date shall also constitute a Mandatory Tender Date under
Section&nbsp;5.2(a)(xi). On the same day on which the notice is given to the Notice Parties pursuant to the foregoing sentence, the Remarketing Agent shall provide a form of notice to be used by the Trustee for delivery to each Securities Depository
by Electronic Means for transmission to the Beneficial Owners. The Trustee shall at or prior to the close of business on the Business Day immediately following the Business Day on which it receives such notice from the Remarketing Agent transmit
such notice, together with the notice required by Section&nbsp;5.2(d), to each Securities Depository. Such notice shall contain the following items of information: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) the proposed change to Term Mode, the first day of such Term Mode, a description of the terms of each Term Period as
set forth in the definition of &#147;Term Period&#148; in Section&nbsp;1.1 and the Rate Determination Time for such Term Period; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(ii) that during each Term Period, Holders and Beneficial Owners of Floater Certificates will not have the right to exercise the Tender Option; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) that (A)&nbsp;with respect to a Term Mode with Term Periods with a duration of 30 days or less, each Beneficial
Owner of Floater Certificates will have the right to exercise its Tender Option on the first day of a Term Period for purchase on the Optional Tender Date as described in Section&nbsp;4.1(d) after such Beneficial Owner has had the opportunity to be
notified of the Preliminary Term Rate pursuant to Section&nbsp;3.5(c) (although a Beneficial Owner may give notice of its intent to tender its Floater Certificates before the last day of a Term Period), or (B)&nbsp;with respect to a Term Mode with
Term Periods with a duration of more than 30 days, the first Business Day of each Term Period shall constitute a Mandatory Tender Date pursuant to Section&nbsp;5.2(a)(xi); and </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">55 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) a statement that prior to the change to Term Mode, each Beneficial
Owner of Floater Certificates that has requested by telephone to be notified of the Preliminary Term Rate will be so notified pursuant to Section&nbsp;3.5(c) on the Business Day preceding the beginning of the Term Mode. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Whereupon, on the Mode Change Date so specified, the Term Mode shall become effective without the requirement of further action. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) If the Remarketing Agent, at the direction of the Trustor and with the prior written consent of the Beneficial Owner of Residual
Certificates, determines to change the term of the Term Period in the Term Mode, it shall give: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) notice to
the other Notice Parties by Electronic Means of its intention to effect such a change in the term of the Term Period and the proposed effective date (the &#147;Effective Date&#148;) no later than ten (10)&nbsp;days before such Effective Date, and
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) a form of notice to the Trustee for delivery to each Securities Depository by Electronic Means for
transmission to Beneficial Owners on the next Business Day describing the terms of the new Term Period (as contained in the definition thereof) to be in effect on the Effective Date and stating that with respect to a Term Mode with Term Periods with
a duration of more than 30 days, the first Business Day of each Term Period shall constitute a Mandatory Tender Date pursuant to Section&nbsp;5.2(a)(xi). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Whereupon, on the Effective Date specified in clause (i)&nbsp;above, the new Term Period shall become effective without the requirement of further action; <I>provided </I>that such Effective Date shall be
a day which is the first day of a new Term Period. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE VIII </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>THE LIQUIDITY FACILITY </B></FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;8.01. <U>Obligations of the Liquidity Bank. </U>With respect to each Series of Certificates, it shall be an irrevocable obligation of the Liquidity Bank to make Liquidity Loans to the
Trustee, upon the terms and conditions set forth herein and in the Liquidity Facility, the proceeds of which shall be used to pay the Purchase Price of Floater Certificates (a)&nbsp;tendered by the Holder thereof pursuant to Article IV and not
remarketed on or prior to the Optional Tender Date in accordance with Article IX, or (b)&nbsp;subject to mandatory tender pursuant to Section&nbsp;5.2, 6.4 or 11.9. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;8.02. <U>Concerning the Liquidity Facility. </U>The following provisions apply to any Liquidity Facility provided by any Liquidity Bank, unless other provisions are explicitly adopted in a
particular Liquidity Facility: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) The Liquidity Facility shall terminate on the Scheduled Expiration Date and shall be
automatically reduced or terminated upon the occurrence of any Tender Option Termination Event. The Trustee shall give written notice to each Floater Certificate Rating Agency of the termination of the obligation of the Liquidity Bank under the
related Liquidity Facility and under this Agreement with respect to the Floater Certificates on the Scheduled Expiration Date. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">56 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) On the date which is sixty (60)&nbsp;days prior to the Scheduled Expiration Date, the
Trustor shall direct the Trustee to request in writing that the Liquidity Bank extend such date by sending the Liquidity Bank a completed Extension Request (as defined in the Liquidity Facility) in substantially the form attached to the Liquidity
Facility. The Liquidity Bank shall, within 30 days of its receipt of such request, give the other Notice Parties written notice of its decision to extend or not extend such date. The Liquidity Bank shall be under no obligation to extend such date
and its decision to extend or not extend such date shall be in its sole discretion. If the Liquidity Bank fails to give notice of its decision within 30 days of its receipt of such request, such failure shall constitute a decision not to extend such
date. Upon receipt of a written notice from the Liquidity Bank that it intends to extend the Scheduled Expiration Date, the Remarketing Agent shall take commercially reasonable steps to cause the relevant Bloomberg Financial Markets screen to
reflect such extension; <I>provided </I>that failure of the Remarketing Agent to take such action shall not constitute a default by the Remarketing Agent and shall not expose the Remarketing Agent to liability. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) In drawing on the Liquidity Facility, the Trustee shall be acting for the exclusive benefit of the Holders and Beneficial Owners of
Floater Certificates and not for the benefit of the Trustor or any affiliate thereof; neither the Trustor, nor any Issuer nor any affiliate thereof shall have any right, title, or interest in or to moneys drawn under the Liquidity Facility, and such
moneys shall be applied solely in accordance with the terms hereof. Moneys drawn under the Liquidity Facility shall be held by the Trustee uninvested, separate and apart from any other moneys held by the Trustee. Any draw properly made by the
Trustee pursuant to Section&nbsp;5.2(f), 6.4(f), 9.1(d) or 11.9(e) by 11:30 a.m. on the Mandatory Tender Date or the Optional Tender Date, as applicable, shall be paid by the Liquidity Bank in immediately available funds by 2:00 p.m. on such date.
The Trustee shall have no responsibility for the failure of the Liquidity Bank to perform under the Liquidity Facility. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;8.03. <U>Substitution of Liquidity Facility.</U> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(a) If so directed by the Trustor, on or prior to the date that is twenty-five (25)&nbsp;days before the Scheduled Expiration Date, the Trustee shall accept a liquidity facility in any form contemplated
by the definition of &#147;Liquidity Facility&#148; in Section&nbsp;1.1 and substantially similar to the Liquidity Facility (each, a &#147;Substitute Liquidity Facility&#148;) issued by a successor Liquidity Bank (each, a &#147;Successor Liquidity
Bank&#148;). The Trustee shall have no responsibility for the failure of any Successor Liquidity Bank to perform under the Substitute Liquidity Facility or for the adequacy of the Substitute Liquidity Facility. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) A Successor Liquidity Bank appointed pursuant to Section&nbsp;8.3(a) shall succeed to that position only upon satisfaction of the
following: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) written notice shall have been received from each Floater Certificate Rating Agency that the
rating of such Floater Certificate Rating Agencies on the Floater Certificates will not, as a result of such substitution or succession, be withdrawn or reduced below the ratings prior to such succession; </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">57 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) the Trustor and the Trustee shall have received an opinion of counsel
to the Successor Liquidity Bank to the effect that the Substitute Liquidity Facility delivered by such Successor Liquidity Bank has been duly authorized, executed and delivered and constitutes a valid and binding obligation of the Successor
Liquidity Bank enforceable in accordance with its terms; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) the Trustor and the Trustee shall have
received an Opinion of Counsel of appropriate special tax and securities counsel to the effect that such substitution or succession will not result in the withdrawal of, or modification of the conclusions of, the opinion delivered by such counsel in
connection with the original delivery of the Floater Certificates; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) the Trustee and the Trustor shall
have received an Opinion of Counsel that all conditions precedent set forth in this Master Terms of Trust Agreement have been satisfied; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(v) the mandatory tender pursuant to Section&nbsp;5.2(a)(xii) shall have taken place with Floater Certificates not subject to an Election to Retain having been purchased with the proceeds of Liquidity
Loans advanced by the Liquidity Bank being replaced; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(vi) if applicable, all obligations owing to the
Liquidity Bank, pursuant to any agreement providing for the reimbursement of amounts to the Liquidity Bank, have been paid in full in cash and the Trustee shall have tendered the Liquidity Facility to the Liquidity Bank for cancellation. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) In order to effectuate the delivery of any Substitute Liquidity Facility or the appointment of any Successor Liquidity Bank, the
Trustor must give the Tender Agent and the Liquidity Bank 30 calendar days&#146; notice of the proposed delivery or succession date and the name of the Successor Liquidity Bank, and the Trustee must give notice thereof to the Holders of Floater
Certificates by delivering such information not later than the second Business Day following receipt of such notice to DTC by Electronic Means for transmission to Beneficial Owners of Floater Certificates. Such notice shall also contain a statement
to the effect that the effective date of such delivery of the Substitute Liquidity Facility or such appointment of the Successor Liquidity Bank shall constitute a Mandatory Tender Date under Section&nbsp;5.2(a)(xii) and Floater Certificates not
subject to an Election to Retain shall be purchased with the proceeds of Liquidity Loans advanced by the Liquidity Bank being replaced. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE IX </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>PROCEDURES FOR PURCHASE AND REMARKETING </B></FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;9.01. <U>Purchase of Floater Certificates Delivered to Tender Agent for Purchase; Delivery of Floater Certificates.</U>
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) On each Optional Tender Date and each Mandatory Tender Date pursuant to Section&nbsp;5.2(a)(xi), (xii)&nbsp;or
(xiv)&nbsp;(each a &#147;Remarketing Date&#148;), the Remarketing Agent shall: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) before 10:45 a.m., notify
the Tender Agent by Electronic Means of the aggregate Purchase Price of Floater Certificates which have been remarketed and the aggregate Purchase Price of Floater Certificates as to which a failure to remarket has occurred; </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">58 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) deliver instructions as to registration and denominations of remarketed
Floater Certificates to the Trustee by Electronic Means no later than 1:00 p.m.; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) before 11:00 a.m.,
pay an amount equal to the proceeds of remarketed Floater Certificates to the Tender Agent in immediately available funds. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) The Purchase Price for any tendered Floater Certificates shall be paid first with amounts provided by the Remarketing Agent, as
principal, in connection with the remarketing of such Floater Certificates, and second with amounts funded by the Liquidity Bank through Liquidity Loans under the Liquidity Facility and no other funds from any other source shall be used for such
purchase. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) If the Remarketing Agent is unable to remarket Floater Certificates tendered on a Remarketing Date, the
Purchase Price of such Floater Certificates shall be paid by the Tender Agent with the proceeds of a draw by the Trustee under the Liquidity Facility pursuant to Article VIII. Upon any such purchase of Floater Certificates by the Tender Agent, all
Floater Certificates the Purchase Price of which is paid with the proceeds of such draw (such Certificates, thereafter, &#147;Liquidity Floater Certificates&#148;) shall thereafter be held by the Trustee in trust until remarketed as provided herein.
No right to exercise the Tender Option or to receive the Purchase Price thereof from amounts available under the Liquidity Facility is associated with such Liquidity Floater Certificates. Holders shall bear the risk of any failure by the Liquidity
Bank to advance Liquidity Loans which may be used for the purchase of Floater Certificates and the risk of any failure by the Liquidity Bank to perform under the Liquidity Facility and shall have no claim under the Agreement against the Trustor, the
Trustee, the Tender Agent or the Remarketing Agent for payment from any other source of funds. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) If the notice from the
Remarketing Agent delivered pursuant to Section&nbsp;9.1(a)(i) states that some or all of the tendered Floater Certificates have not been remarketed or if the Tender Agent does not receive the payment pursuant to Section&nbsp;9.1(a)(iii), the
Trustee shall, at or prior to 11:30 a.m. on the Remarketing Date, draw on the Liquidity Facility in an amount equal to the Purchase Price of the Floater Certificates tendered but not successfully remarketed. The Tender Agent shall forward such
Purchase Price in immediately available funds by 3:00 p.m. on such Remarketing Date to DTC for distribution to each DTC Participant of a Beneficial Owner of tendered Floater Certificates. The tendering Beneficial Owner shall cause its DTC
Participant to deliver the Floater Certificates against payment of such Purchase Price by book-entry transfer on the Remarketing Date to the account of the Tender Agent. All Liquidity Floater Certificates shall be transferred to the Trustee and held
by the Trustee in trust until remarketed as provided herein. Until remarketed, the Liquidity Floater Certificates shall be treated as not Outstanding. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) If, at 11:00 a.m. on the Remarketing Date, the Tender Agent has not received from the
Remarketing Agent the notice required pursuant to Section&nbsp;9.1(a)(i), the Tender Agent shall assume that none of the Floater Certificates were remarketed. In such event, not later than 11:30 a.m. on each Remarketing Date, the Tender Agent shall
give telephonic notice to the Liquidity Bank, confirmed by Electronic Means or in writing or by hand delivery, of the amount of Floater Certificates that were not remarketed or are assumed not to be remarketed (and are therefore to be purchased) and
the Purchase Price and shall draw upon the Liquidity Facility in order to obtain funds from the Liquidity Bank in an amount equal to the Purchase Price by delivering the appropriate draw certificate properly completed and substantially in the form
annexed to the Liquidity Facility, requesting a Liquidity Loan from the Liquidity Bank to the extent necessary to fund the Purchase Price of all Floater Certificates with respect to which notice of tender has been received and the Tender Agent shall
pay the Purchase Price of such tendered Floater Certificates to the Holders thereof as provided in this Section&nbsp;9.1. Any Liquidity Floater Certificates shall be held by the Trustee in trust until remarketed as provided herein. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(f) Notwithstanding any other provisions of this Agreement, any proceeds of draws under the Liquidity Facility and any payments by the
Remarketing Agent, as principal, in amounts equal to remarketing proceeds, shall not be used for any purpose other than to pay the Purchase Price of Floater Certificates tendered or deemed tendered hereunder. The Trustee shall immediately return to
the Liquidity Bank in immediately available funds any proceeds of draws under the Liquidity Facility that are not used to pay the Purchase Price of such Floater Certificates on the date of such draw or are not being held pending delivery of Floater
Certificates deemed tendered hereunder. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;9.02. <U>Remarketing of Floater Certificates.</U> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) On each Business Day on which a Holder or Beneficial Owner gives notice of tender in accordance with Section&nbsp;4.1, the Tender
Agent shall give notice to the Notice Parties, by Electronic Means, of the aggregate Stated Amount of Floater Certificates subject to tender. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(b) On the date notice of the aggregate Stated Amount of Floater Certificates subject to tender is received by the Remarketing Agent pursuant to Section&nbsp;9.2(a), the Remarketing Agent shall commence
to offer for sale and use its best efforts to sell Floater Certificates so tendered at the Purchase Price. If the Remarketing Agent elects to effect a remarketing of Floater Certificates, then the Remarketing Agent shall purchase Floater
Certificates to be remarketed as principal and not as agent. Delivery in connection with any such sale shall be made against payment on the Remarketing Date. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(c) The Remarketing Agent shall offer for sale and use its best efforts to sell all or any part of any Liquidity Floater Certificates at the Purchase Price. If the Remarketing Agent shall effect the sale
of Liquidity Floater Certificates it shall notify the Liquidity Bank and the Trustee by telephone or Electronic Means confirmed in writing of the amount of Liquidity Floater Certificates so sold, the date set for settlement of such sale and
information necessary to register such Liquidity Floater Certificates for delivery upon remarketing. The Trustee shall register the transfer of such Liquidity Floater Certificates and shall deliver (<I>provided </I>that the Trustee has received a
direction from the Liquidity Bank to make such delivery) such Liquidity Floater Certificates to the Remarketing Agent against payment of the Purchase Price therefor out of remarketing proceeds, which proceeds shall be promptly remitted by the
Trustee to the Liquidity Bank prior to the close of business on the day such proceeds are received by the Trustee. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) In connection with any Mandatory Tender Event under Sections 5.2(a)(xi) or (xii), the
Remarketing Agent shall use its best efforts to sell at the Purchase Price any Floater Certificates with respect to which no Election to Retain was exercised. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;9.03. <U>Procedures when Floater Certificates Deposited with DTC. </U>Notwithstanding anything herein to the contrary, when the Floater Certificate are deposited with DTC: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) A Beneficial Owner tendering Floater Certificates shall instruct its DTC Participant at the same time as such Beneficial Owner gives
notice to the Remarketing Agent, to cause DTC to transfer ownership of tendered Floater Certificates to the account of the Tender Agent against payment therefor on the Remarketing Date, which Floater Certificates shall be held in trust for the
benefit of such Beneficial Owner pending payment therefor. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) If the Remarketing Agent has successfully remarketed the
tendered Floater Certificates, it shall purchase the tendered Floater Certificates or arrange for the tendered Floater Certificates to be purchased from such Beneficial Owner as follows: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) if the Remarketing Agent is the DTC Participant through which such Beneficial Owner holds tendered Floater
Certificates, it will remit the Purchase Price to such Beneficial Owner in immediately available funds and debit the interest of such Beneficial Owner in the tendered Floater Certificates on its books; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) if the Remarketing Agent is not the DTC Participant through which such Beneficial Owner holds tendered Floater
Certificates, the Remarketing Agent will give appropriate instructions to such Beneficial Owner and will arrange for the Persons to which the tendered Floater Certificates have been remarketed to purchase the tendered Floater Certificates on the
Remarketing Date at the Purchase Price using the DTC book-entry system. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">If the Remarketing Agent has not successfully remarketed the tendered
Floater Certificates, it shall give notice to the Tender Agent, the Trustee, the Liquidity Bank and such Beneficial Owner that the remarketing has failed. Such notice will be given by telephone or telecopy not later than 10:45 a.m. on the
Remarketing Date. Such notice to such Beneficial Owner shall instruct it to cause its DTC Participant to transfer the tendered Floater Certificates to the Tender Agent against payment therefor using the DTC book-entry system. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) Upon payment of the Purchase Price of Floater Certificates on any Remarketing Date with funds drawn under the Liquidity Facility by
the Trustee, DTC shall deliver the Floater Certificates against payment therefor of such tender price by book-entry transfer on such Remarketing Date to the account of the Trustee and Tender Agent, as a DTC Participant. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">61 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;9.04. <U>Repayment of Liquidity Loans.</U> Upon notice from the Liquidity Bank
received on or before 11:00 a.m. on any Business Day and <I>provided </I>that the Election Letter states that the provisions of clause (i)&nbsp;of Section&nbsp;5.2(h) shall apply, the Trustee shall direct the Remarketing Agent to obtain a Quotation
of Bond Price and to determine the Accrued Market Discount, Accrued OID and Unamortized Premium, if any, separately with respect to each Maturity on the second Business Day immediately following the day of notice to the Trustee. On the Business Day
following the day on which the Quotation of Bond Price is obtained, the Trustee shall instruct the Remarketing Agent to sell a portion of the Bonds of each Maturity sufficient in the aggregate to pay the accrued and unpaid Trustee Fees and accrued
and unreimbursed Trustee Advances, the accrued and unpaid Remarketing and Liquidity Charges and the unpaid principal amount of any Liquidity Loans together with accrued and unpaid interest thereon as of such date and all other amounts due the
Liquidity Bank, and distribute such proceeds to the Trustee, Remarketing Agent and Liquidity Bank as applicable with the balance of such proceeds being paid to the Beneficial Owner of the Related Residual Certificates; <I>provided </I>that no more
than the principal amount of the Bonds of a particular Maturity <I>multiplied </I>by a fraction the numerator of which is the principal amount of Liquidity Loans and the denominator of which is the sum of the Stated Amount of Floater Certificates
Outstanding and the principal amount of Liquidity Loans shall be sold for this purpose; <I>provided, further, </I>that, if no Floater Certificates are Outstanding, then any Maturity of Bonds may be sold for this purpose and in the event any proceeds
remain after such sale and the payment of the amounts described above, then such excess shall be paid to the Beneficial Owner of the Related Residual Certificates; <I>provided, further, </I>that the Liquidity Bank may notify the Trustee that the
Liquidity Bank elects not to have such Bonds be sold and in lieu thereof, the Liquidity Bank may (i)&nbsp;pay the Trustee the accrued and unpaid Trustee Fees and accrued and unreimbursed Trustee Advances, (ii)&nbsp;pay the Remarketing Agent the
Remarketing Agent&#146;s portion of the accrued and unpaid Remarketing and Liquidity Charges and (iii)&nbsp;direct the Trustee to deliver to the Liquidity Bank such Bonds. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE X </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>THE SECURITIES </B></FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.01. <U>Ownership of Underlying Bonds; Voting.</U> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) With respect to any Series, each Floater Certificate evidences ownership of and the right to receive certain future payments of
principal, interest and premium, if any, on an undivided interest in all Maturities of Bonds of such Series and the right to receive the Purchase Price of the Floater Certificates from amounts available under the related Liquidity Facility pursuant
to Sections 4.1, 5.2, 6.4 and 11.9. With respect to any Series, each Residual Certificate evidences ownership of and the right to receive certain future payments of principal, interest and premium, if any, on an undivided interest in the particular
Maturity of Bonds with which such Residual Certificates is identified. The Beneficial Owners of Floater Certificates of a Series shall have all the rights and privileges of an owner of a proportionate principal amount of the Bonds of all Maturities
of such Series to the extent provided in the Agreement. The Residual Certificates of any Series shall, as of the Deposit Date and as of any date thereafter, be held by one Beneficial Owner. The Beneficial Owner of the Related Residual Certificates
of a Series shall have all the rights and privileges of an owner of the Related Maturity of Bonds to the extent provided in the Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(b) In the event of any action or consent requiring the vote of the owners of any Bonds, the Trustee shall, within three Business Days of its being informed of any such action or consent, deliver to each
Holder of the Certificates of the related Series such Holder&#146;s proxies for such vote, returnable to the Trustee, which shall vote solely in accordance with such proxies, weighted by the Stated Amount of the Certificates held by each Holder.
Liquidity Floater Certificates shall be deemed to be not Outstanding for purposes of this Section&nbsp;10.1(b). </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">62 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) The Trustee shall not take any action as the nominal holder or owner of any of the
Bonds, either alone or as part of a group of such holders or owners of such Bonds, except in accordance with the affirmative direction of the Holders of the Certificates of the related Series as provided in Section&nbsp;10.1(b) above; <I>provided
</I>that, in the event the owners of the Bonds are requested to vote on any matter that would alter the timing, amount or priority of any payment on the Bonds or that would result in the exchange, substitution or tender of any Bond, then the Trustee
shall not vote in favor of such matter unless the Holder of the Residual Certificates has voted in favor of such matter. Holders of the Certificates shall return their proxies to the Trustee no later than the later of (i)&nbsp;the fifth Business Day
after the date of the proxy and (ii)&nbsp;the fifteenth (15th)&nbsp;day before the Trustee is required to submit its vote with respect to the Bonds. The proxies shall be dated the date they are sent to Holders by the Trustee. On any Business Day
after the date proxies are delivered by the Trustee, any Holder of a Certificate may request that the Trustee inform such Holder of the number of proxies returned to the Trustee and how such proxies were voted, and the Trustee shall provide such
Holder with the requested information. The Trustee shall have no liability for any failure to act resulting from the late return of, or failure to return, any such proxy sent by the Trustee to the Holders of the Certificates. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.02. <U>Form and Numbering of Certificates.</U> The definitive Certificates are issuable in fully registered form in
Authorized Denominations. Each Certificate shall be substantially in the form set forth in Exhibit A or Exhibit B, as applicable, with such appropriate variations, omissions and insertions as may be necessary or appropriate to conform to the
provisions of this Master Terms of Trust Agreement. All Certificates may have endorsed thereon such letters, numbers or other marks of identification and such legends or text as may be necessary or appropriate to conform to any applicable rules and
regulations of any governmental authority or of any securities exchange on which the Certificates may be listed or any usage or requirement of law with respect thereto. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.03. <U>Details of Certificates.</U> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) The Certificates shall be
dated the Deposit Date or the Additional Deposit Date, as the case may be, shall entitle their Holders to payments of interest, principal and, under certain circumstances, premium on the Bonds, the right, in the case of Floater Certificates, to
receive the Purchase Price of the Floater Certificates in connection with the remarketing thereof, amounts available under any Liquidity Facility and proceeds of any bond insurance or other credit enhancement and shall be redeemable, all as herein
provided. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) The Certificates shall be executed by the manual signature of an Authorized Trustee Officer. In case any
Authorized Trustee Officer whose signature shall appear on any Certificates shall cease to be such officer before the delivery of such Certificates, such signature shall nevertheless be valid and sufficient for all purposes the same as if he or she
had remained in office until such delivery. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">63 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) The Stated Amount of all Certificates shall be payable at the Designated Office of the
Trustee upon the presentation and surrender of such Certificates as the same shall become due and payable. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) All
Certificates surrendered for payment, exchange, transfer, withdrawal of Bonds, optional or mandatory tender or redemption shall forthwith be cancelled by the Trustee. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(e) If the Certificates are not held by a Securities Depository such interest will be paid by check to the Person in whose name such Certificates are registered at the close of business on the relevant
Regular Record Date; <I>provided </I>that such interest will be paid by wire transfer of immediately available funds to any Holder of not less than $1,000,000 in aggregate Stated Amount of Certificates, at its option, according to wire instructions
given to the Trustee in writing for such purpose. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(f) Any interest payment on the Bonds to which the Holder of any
Certificates is entitled which is payable, but is not punctually paid or duly provided for with respect to any Bond Interest Payment Date, shall forthwith cease to be payable to the Holder on the relevant Regular Record Date solely by virtue of such
Holder having been such Holder, and such interest payment when received shall be paid by the Trustee as provided in Article III. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(g) Subject to the foregoing provisions of this Section&nbsp;10.3, each Certificate delivered under the Agreement upon registration of transfer of or in exchange for or in lieu of any other Certificates
shall carry all the rights to interest accrued and unpaid, and to accrue, on the Bonds that were carried by such other Certificates and each such Certificate shall entitle the Holder thereof to receive interest payments from such date, so that
neither gain nor loss in interest shall result from such transfer, exchange or substitution. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.04. <U>Validity
of Certificates.</U> Only such Certificates as shall have been duly executed by an Authorized Trustee Officer shall be entitled to any benefit or security under the Agreement. No Certificates shall be valid or become obligatory for any purpose
unless and until such Certificates shall have been duly executed by an Authorized Trustee Officer, and such signature of an Authorized Trustee Officer upon any such Certificates shall be conclusive evidence that such Certificates have been duly
executed and delivered under the Agreement. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.05. <U>Exchange of Certificates. </U>Subject to Sections 10.6 and
10.12, Certificates, upon surrender thereof at the Designated Office of the Trustee, together with an assignment duly executed by the registered owner or his or her attorney or legal representative in such form as shall be satisfactory to the
Trustee, may, at the option of the Holder thereof, be exchanged for an equal aggregate Stated Amount of Certificates of the same Series and terms, of any Authorized Denominations, entitling the Holder thereof to receive payments in the same manner,
and in the same form as the Certificates surrendered for exchange. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.06. <U>Registration and Transfer of
Certificates.</U> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) The Trustee shall keep books for the registration and registration of transfer of Certificates as
provided in the Agreement. Said registration books shall be available at all reasonable times for inspection by the Trustor and its agents and representatives, and the Trustee shall provide to the Trustor upon its written request, an accurate copy
of the names and addresses of the Holders set forth on such books. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">64 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) The transfer of any Certificates may be registered only upon the books kept for the
registration and registration of transfer of Certificates upon surrender thereof to the Trustee together with an assignment duly executed by the registered owner or such owner&#146;s attorney or legal representative in such form as shall be
satisfactory to the Trustee. Upon any such registration of transfer the Trustee shall execute and deliver in exchange for such Certificates one or more new registered Certificates, registered in the name of the transferee, of any denomination or
denominations authorized by the Agreement in the aggregate Stated Amount equal to the Stated Amount of such Certificates surrendered or exchanged, of the same Series and terms, and entitling the Holder thereof to receive interest payments in the
same manner and in the same form as the Certificates so surrendered. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) In all cases in which Certificates shall be
exchanged or the transfer of Certificates shall be registered hereunder, the Trustee shall execute and deliver at the earliest practicable time Certificates in accordance with the provisions of the Agreement. All Certificates surrendered in any such
exchange or registration of transfer shall forthwith be canceled by the Trustee. No service charge shall be made for any registration, transfer, or exchange of Certificates, but the Trustee may require payment of a sum sufficient to cover any tax or
other governmental charge that may be imposed in connection with any transfer or exchange of Certificates. The Trustee shall not be required (i)&nbsp;to issue or register the transfer or exchange of Certificates during a period beginning at the
opening of business 15 days before the day of the mailing of a notice of redemption of Certificates in accordance with Section&nbsp;11.4 and ending at the close of business on the day of such mailing, or (ii)&nbsp;to register the transfer of or
exchange any Certificates so selected for redemption. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.07. <U>Ownership of Certificates.</U> The Trustor, the
Trustee, the Tender Agent, the Liquidity Bank, the Remarketing Agent and any of their agents may treat the Person in whose name any Certificate is registered, including, without limitation, any Securities Depository or its nominee, as the owner of
such Certificate for the purpose of receiving distributions of principal of and redemption premium, if any, and interest on, such Certificate, and, except as otherwise provided, for all other purposes whatsoever, whether or not such Certificate be
overdue, and, to the extent permitted by law, neither the Trustor, the Trustee, the Tender Agent, the Liquidity Bank, the Remarketing Agent nor any such agent shall be affected by notice to the contrary. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.08. <U>Issuance of Certificates; Prior Accrued Bond Interest.</U> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) There shall from time to time be issued under this Master Terms of Trust Agreement one or more Series of Certificates. Each Series of
Certificates shall consist of Floater Certificates and Residual Certificates in the aggregate Stated Amounts set forth in the related Series Trust Agreement or the related Additional Deposit Notice, as the case may be. Each Certificate of a Series
shall be dated the Deposit Date thereof or the Additional Deposit Date with respect thereto, as applicable. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">65 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) Before the Certificates of a Series shall be executed and delivered by the Trustee on
the Deposit Date thereof, there shall be filed or deposited with the Trustee the following: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) a copy of
this Master Terms of Trust Agreement; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) a fully executed counterpart of the Series Trust Agreement;
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) a fully executed counterpart of the Remarketing Agreement; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) a fully executed original of the Liquidity Facility; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(v) a counterpart of the DTC Letter executed by the Trustor; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(vi) an opinion of Orrick, Herrington&nbsp;&amp; Sutcliffe LLP, special counsel to the Trustor, as to the due
authorization, execution and delivery of and the validity of and enforceability against the Trustor of this Master Terms of Trust Agreement and the Series Trust Agreement, in form and substance satisfactory to the Trustor and the Trustee;
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(vii) opinions of Orrick, Herrington&nbsp;&amp; Sutcliffe LLP, special counsel to the Trustor, as to certain
securities law matters and certain tax matters, in form and substance satisfactory to the Trustor, the Trustee and the Remarketing Agent; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(viii) an Opinion of Counsel to the Trustee and Tender Agent as to the due authorization, execution and delivery of and the validity of and enforceability against the Trustee and Tender Agent of this
Master Terms of Trust Agreement and the Series Trust Agreement, in form and substance satisfactory to the Trustor and the Trustee; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(ix) an Opinion of Counsel to the Liquidity Bank as to the due authorization, execution and delivery of and the validity of and enforceability against the Liquidity Bank of the Liquidity Facility, in form
and substance satisfactory to the Trustor and the Trustee; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(x) an Opinion of Counsel to the Remarketing Agent
as to the due authorization, execution and delivery of and the validity and enforceability against the Remarketing Agent of the Remarketing Agreement, in form and substance satisfactory to the Trustor and the Trustee; and </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(xi) such other documents, certificates and opinions as the Trustee reasonably may require. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">When the documents mentioned in items (i)&nbsp;to (xi), inclusive, of this Section&nbsp;10.8(b) shall have been filed with the Trustee and when the
Certificates of a Series shall have been executed as required by this Master Terms of Trust Agreement, the Trustee shall deliver the Certificates of such Series at one or more times to or upon the order of the Trustor, but only upon transfer of the
Bonds with the Trustee. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) Before Certificates shall be executed and delivered by the Trustee on any Additional
Deposit Date, there shall be filed or deposited with the Trustee the following: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) a fully executed
Additional Deposit Notice complying in all respects with Section&nbsp;6.1(c); </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) evidence satisfactory to
the Trustee that the related Bonds satisfy the Bond Criteria; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) evidence satisfactory to the Trustee that
the Amount Available under the Liquidity Facility has been appropriately increased by the Liquidity Bank; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) evidence satisfactory to the Trustee that any additional requirements specified in the related Series Trust
Agreement applicable to such Additional Deposit Date have been satisfied; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(v) such other documents,
certificates or opinions as the Trustee may require. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">When the documents mentioned in items (i)&nbsp;to (v), inclusive, of this
Section&nbsp;10.8(c) shall have been filed with the Trustee and when the Certificates of a Series shall have been executed as required by this Master Terms of Trust Agreement, the Trustee shall deliver the Certificates of such Series at one or more
times to or upon the order of the Trustor, but only upon transfer of the Bonds with the Trustee. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) With respect to each
Series of Certificates, on the first Bond Interest Payment Date following the Deposit Date and following each Additional Deposit Date thereafter, or on the first date thereafter on which the Trustee shall have confirmed receipt in immediately
available funds all payments of interest with respect to each such Bond Interest Payment Date (or if earlier on the date of the redemption or sale of the Bonds), the Trustee shall transfer to the Person and in the manner set forth in the related
Series Trust Agreement or related Additional Deposit Notice, as the case may be, the respective amounts set forth in such Series Trust Agreement or such Additional Deposit Notice, as applicable, as &#147;Accrued Interest on Bonds&#148; of each
Maturity representing the portion of the interest received by the Trustee in immediately available funds that accrued prior to the Deposit Date or the Additional Deposit Date, as the case may be, on the Bonds of each Maturity acquired by the Trust
on the Deposit Date or the Additional Deposit Date, as applicable; <I>provided </I>that, if the Trustee on such Bond Interest Payment Date has not received interest on the Bonds of any Maturity in immediately available funds, the above described
payment may be delayed until the Business Day on which the Trustee holds an amount equal to such interest in immediately available funds; and <I>provided, further, </I>that, if the Bond Interest Payment Date is not a Business Day, then the above
described payment otherwise payable on such Bond Interest Payment Date shall be payable on the Business Day next succeeding such Bond Interest Payment Date as though paid on such Bond Interest Payment Date. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.09. <U>Temporary Certificates.</U> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(a) Until definitive Certificates are ready for delivery, upon request of the Trustor who shall supply the Trustee with the number of Certificates required, the Trustee shall execute and deliver, in lieu
of definitive Certificates and subject to the same limitations and conditions, typewritten, printed, engraved or lithographed temporary Certificates, in the form of fully registered Certificates in Authorized Denominations, substantially of the
tenor of the Certificates set forth in the Agreement and with such appropriate omissions, insertions and variations as may be required. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) Until definitive Certificates are ready for delivery, any temporary Certificates may be
exchanged at the Designated Office of the Trustee, without charge to the Holder thereof, for an equal aggregate Stated Amount of temporary fully registered Certificates of Authorized Denominations, of like tenor, of the same terms, and entitling the
Holder thereof to receive interest payments on the Bonds in the same manner as the Certificates so exchanged. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) If
temporary Certificates shall be issued, the Trustee shall prepare the definitive Certificates and execute the same, and the Trustee, upon presentation to it at its principal office of any temporary Certificates, shall cancel the same and deliver in
exchange therefor at the place designated by the Holder, without charge to the Holder thereof, one or more definitive Certificates of an equal aggregate Stated Amount, of the same terms, and entitling the Holder thereof to receive interest payments
in the same manner as the temporary Certificates so surrendered. Until so exchanged, the temporary Certificates shall in all respects be entitled to the same benefit of the Agreement as the definitive Certificates to be issued and authenticated
hereunder. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.10. <U>Mutilated, Destroyed, Lost or Stolen Certificates.</U> In case any Certificate shall become
mutilated or be destroyed, lost or stolen, the Trustee shall execute and deliver a new Certificate of like date, terms and tenor in exchange and substitution for and upon the cancellation of such mutilated Certificate or in lieu of and in
substitution for such Certificate destroyed, lost or stolen, and the Holder shall pay the reasonable expenses and charges of the Trustee in connection therewith and, in case of any Certificates destroyed, lost or stolen, the Holder shall file with
the Trustee evidence satisfactory to it that such Certificates were destroyed, lost or stolen, and of its ownership thereof, and shall furnish the Trustor and the Trustee with such indemnity as shall be satisfactory to them (which, in the case of a
Holder that has a net worth of at least $50 million, may, at the request of such Holder, be provided on an unsecured basis if permitted by the Trustee in its sole discretion). Any replacement Certificate issued pursuant to this Section&nbsp;10.10
shall constitute complete and indefeasible evidence of ownership in the Bonds (and, in the case of Floater Certificates other than Liquidity Floater Certificates, the right to receive the Purchase Price of the Floater Certificates from amounts
available under the related Liquidity Facility) as if originally issued, whether or not the destroyed or lost or stolen Certificate shall be found at any time. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.11. <U>Book-Entry Only System for Certificates.</U> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) Except as
otherwise provided herein, with respect to each Series, one or more fully registered Floater Certificates, each in an Authorized Denomination, shall be registered in the name of DTC or its nominee, and ownership thereof shall be maintained in
book-entry form by DTC for the account of the DTC Participants thereof. Initially, the Floater Certificates shall be registered in the name of Cede&nbsp;&amp; Co., as the nominee of DTC. Transfers of beneficial ownership interests in the Floater
Certificates which are registered in the name of Cede&nbsp;&amp; Co. will be accomplished by book entries made by DTC and in turn by the DTC Participants who act on behalf of the Beneficial Owners of Floater Certificates. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">68 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) Neither the Trustor, the Trustee, the Tender Agent, the Liquidity Bank, the Remarketing
Agent nor any of their respective affiliates shall have any responsibility or obligation with respect to: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i)
the accuracy of the records of DTC or any DTC Participant with respect to any beneficial ownership interest in the Floater Certificates; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(ii) except as otherwise provided, the delivery to any DTC Participant, any beneficial owner of the Floater Certificates or any other Person, other than DTC, of any notice with respect to the Floater
Certificates; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) the payment to any DTC Participant, any beneficial owner of the Floater Certificates or
any other Person, other than DTC, of any amount distributable with respect to the Floater Certificates; or </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) the failure of DTC to effect any transfer. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(c) So long as the Floater Certificates are registered in the name of DTC or its nominee, the Trustee may treat DTC as, and deem DTC to be, the absolute owner of the Floater Certificates for all purposes
whatsoever, including without limitation: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) the payment of distributions to Holders of the Floater
Certificates; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) except as otherwise provided, giving notices of redemption, tender and other matters with
respect to the Floater Certificates; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) registering transfers with respect to the Floater Certificates;
and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) the selection of Floater Certificates for redemption or tender. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) If at any time DTC notifies the Trustee that it is unwilling or unable to continue as Securities Depository with respect to the
Floater Certificates, or if at any time DTC shall no longer be registered or in good standing under the Securities Exchange Act or other applicable statute or regulation and a successor Securities Depository is not appointed by the Trustee within 90
days after it receives notice or becomes aware of such condition, as the case may be, or, to the extent permitted by law, if the Trustor determines that it is in the best interests of the Beneficial Owners that they be able to obtain the Floater
Certificates in certificated form, then the Trustee shall execute and deliver certificates representing the Floater Certificates in exchange for the global certificates which shall be registered in such names and be in such Authorized Denominations
as DTC, pursuant to instructions from the DTC Participants or otherwise, shall instruct the Trustee. The Trustee shall deliver such certificates representing the Floater Certificates to the Persons in whose names such Certificates are so registered.
The Trustee and the Trustor may enter into an amendment hereto to make such changes as shall be necessary or appropriate if DTC is not the Securities Depository. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(e) Except as otherwise provided herein, one or more fully registered Residual Certificates for each Maturity, each in an Authorized Denomination, shall be registered in the name of the Beneficial Owner
thereof or its nominee, and ownership thereof shall be maintained by the Securities Depository for the account of such Beneficial Owner. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">69 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10.12. <U>Limitations on Transfer.</U> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) Certificates and interests therein may only be issued and sold or transferred to Persons that (I)&nbsp;are (i)&nbsp;either Accredited
Investors or QIBs and, in either case, (ii)&nbsp;QPs, in each case purchasing the Certificates for their own account and (II) are not residents of Canada. Neither the Certificates nor any interest therein may be transferred or resold except as
permitted under the Securities Act pursuant to registration or an exemption therefrom and under any applicable State securities or &#147;Blue Sky&#148; laws. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(b) For the purpose of monitoring compliance with the foregoing restrictions, each transferee of a Certificate or any beneficial interest therein shall deliver a completed and duly executed
Purchaser&#146;s Letter to the Remarketing Agent substantially in the form attached hereto as Exhibit F. Such Purchaser&#146;s Letter shall be available for inspection by the Trustor and the Trustee during normal business hours. The Trustor, the
Trustee, the Tender Agent, the Liquidity Bank and the Remarketing Agent may rely conclusively upon the information contained in any such Purchaser&#146;s Letter in the absence of actual knowledge of information to the contrary. In connection with
any transfer, the Remarketing Agent or the Trustee may require an unqualified Opinion of Counsel to the effect that such transfer may be effected without registration under the Securities Act and under any applicable State securities or &#147;Blue
Sky&#148; laws. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) The Certificates shall bear legends stating that they have not been registered under the Securities Act
and are subject to the transfer requirements described in Section&nbsp;10.12(a), (b)&nbsp;and (h). By purchasing a Certificate or any interest therein, each purchaser shall be deemed to have agreed to these transfer requirements. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) The Certificates and related documentation including the Agreement may be amended or supplemented from time to time by the Trustor to
modify the restrictions on and procedures for resale and other transfers of the Certificates and interests therein to reflect any change in applicable law or regulation (or the interpretation thereof) or in practices relating to the resale or other
transfer of restricted securities generally if the Trustor and the Trustee shall have received an Opinion of Counsel to the effect that such amendment or supplement is necessary or appropriate. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) In order to preserve the exemption for resales and transfers provided by Rule 144A under the Securities Act, the Trustor shall
provide to any Holder of a Certificate and any prospective purchaser designated by such Holder, upon request of such Holder or such prospective purchaser, such information required by Rule 144A as will enable the resale of such Certificate to be
made pursuant to Rule 144A. However, the Trustor shall not be required to provide with respect to any Certificate more information than is required by Rule 144A as of the date such Certificate is issued but may elect to do so if necessary under
subsequent revisions of Rule 144A. In addition, the Trustor may from time to time modify the foregoing restrictions on resale and other transfers (including the form of Purchaser&#146;s Letter), without the consent but upon notice to the Holders of
the Certificates, in order to reflect any amendment to Rule 144A or change in the interpretation thereof or practices thereunder if the Trustor shall have received an Opinion of Counsel to the effect that such amendment or supplement is necessary or
appropriate. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">70 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(f) Certificates shall not be listed on any established securities market. For this purpose,
established securities market includes any national securities exchange registered under the Securities Exchange Act of 1934 or exempted from registration because of the limited volume of transactions, any local exchange, and any over the counter
market characterized by an interdealer quotation system which regularly disseminates quotations of obligations by identified brokers or dealers, by Electronic Means or otherwise. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(g) Notwithstanding the foregoing provisions of this Section&nbsp;10.12, the Beneficial Owner of the Residual Certificates of any Series
shall not transfer the Related Residual Certificates of any Maturity of such Series, except as provided in this Section&nbsp;10.12(g); <I>provided </I>that the Beneficial Owner of the Residual Certificates of any Series may, with the consent of the
Trustor, transfer all Residual Certificates of such Series in a single transaction to a single transferee, who will thereafter hold all Residual Certificates of such Series. The Beneficial Owner of the Residual Certificates of any Series shall have
the right to tender such Residual Certificates to the Trustor on any Business Day for purchase at a price equal to (i)&nbsp;the aggregate market value of the Related Maturities of Bonds of such Series as determined by the Trustor pursuant to a
Quotation of Bond Price on such Business Day, <I>minus </I>(ii)&nbsp;the sum of (A)&nbsp;the aggregate Related Stated Amount of Floater Certificates of such Series, <I>plus </I>accrued and unpaid interest thereon to the settlement date at the
Floater Certificate Rate, (B)&nbsp;the <I>pro rata </I>share of such Stated Amount of Floater Certificates in any accrued and unpaid Trustee Fee, Trustee Advances and Remarketing and Liquidity Charges, and (C)&nbsp;the Gain Share to which the
Holders of such Stated Amount of Floater Certificates are entitled. Notwithstanding the second sentence of the definition of &#147;Quotation of Bond Price&#148; in Section&nbsp;1.1, in the event that the Beneficial Owner of Residual Certificates
tendering the Related Residual Certificates of a particular Maturity of such Series pursuant to this Section&nbsp;10.12(g) disputes the Quotation of Bond Price provided by the Remarketing Agent with respect to such Maturity of Bonds, (A)&nbsp;if the
Remarketing Agent is able to obtain only two bids for such Maturity of Bonds on such Business Day, such Quotation of Bond Price shall be based on the higher of such two bids; (B)&nbsp;if the Remarketing Agent is able to obtain only one bid for such
Maturity of Bonds on such Business Day, such Quotation of Bond Price shall be based on such bid; and (C)&nbsp;if the Remarketing Agent is unable to obtain at least one bid for such Maturity of Bonds on such Business Day, the tender of Residual
Certificates shall be cancelled and all Residual Certificates shall continue to be owned by the tendering Beneficial Owner. The Beneficial Owner of the Residual Certificates shall exercise the foregoing tender right by delivering written notice to
the Trustor prior to 10:00 a.m. on any Business Day. If the Beneficial Owner of the Residual Certificates exercises such tender right, such Beneficial Owner shall also deliver a notice of mandatory tender of Floater Certificates pursuant to
Section&nbsp;6.4(b) to the Trustee. Upon the delivery of such notices to the Trustor and the Trustee, respectively, and the Trustor obtaining at least one actionable bid for each Related Maturity, the Trustor shall become obligated to purchase such
Related Residual Certificates on the settlement date specified below. The settlement date for the purchase of such Related Residual Certificates upon such tender shall be the later of the fifth day after the Business Day on which the Beneficial
Owner of such Residual Certificates gives notice of its exercise of its tender right pursuant to this Section&nbsp;10.12(g) or the Tender Date specified by such Beneficial Owner in such notice of mandatory tender of Floater Certificates pursuant to
Section 6.4(b). When the Beneficial Owner of the Residual Certificates exercises its right to cause a mandatory tender of Floater Certificates pursuant to Section&nbsp;6.4 in conjunction with its exercise of its tender right pursuant to this
Section&nbsp;10.12(g), such Beneficial Owner shall be deemed to have assigned all of its rights as Tender Demand Owner to the Trustor. If the Trustor, in exercising such rights of the Tender Demand Owner, elects to rescind the mandatory tender of
Floater Certificates, (1)&nbsp;the Trustor shall have the right to transfer the Residual Certificates acquired on the settlement date to a transferee satisfying the requirements of this Section&nbsp;10.12, and (2)&nbsp;the purchase price payable on
the settlement date shall be increased by the amount specified in clause (ii)(C) above. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(h) If the Trustor, the Liquidity Bank or the Remarketing Agent determines that a
Certificate has been acquired by a Person that did not satisfy the requirements of Sections 10.12(a)(I) and 10.12(a)(II) at the time of such Person&#146;s acquisition of the Certificates or that a Certificate was acquired in a transaction that does
not satisfy any other requirement of this Section&nbsp;10.12 (any such person, a &#147;Disqualified Transferee&#148;), either (i)&nbsp;the Trustee shall, upon notice from the Remarketing Agent or the Trustor, if the Certificate is a Floater
Certificate, declare a mandatory tender of the Certificates at the Stated Amount of the Floater Certificates <I>plus </I>accrued and unpaid interest on such Floater Certificates at the Floater Certificate Rate to but excluding the mandatory tender
date, or (ii)&nbsp;the Trustee shall, if the Certificate is a Residual Certificate, purchase such Person&#146;s Residual Certificates with funds provided by the Trustor at the price described in Section&nbsp;10.12(g) hereof. The Trustor or the
Remarketing Agent shall notify the Trustee in the event the Trustor or the Remarketing Agent determine that a Certificate was acquired by a Disqualified Transferee. By its purchase of such Certificate, such Person shall be deemed to acknowledge the
right of the Trustee to implement the provision of this Section&nbsp;10.12(h). </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE XI </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>REDEMPTION </B></FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;11.01. <U>General.</U> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(a) With respect to each Series of Certificates, the proceeds of a redemption in whole or in part of the Bonds of any Maturity shall be applied (1)&nbsp;if Proportionality shall have been adopted in the
related Series Trust Agreement, to the redemption of Stated Amounts of the Floater Certificates and the Related Residual Certificates such that, following such redemption, Proportionality is maintained, as nearly as possible, subject to adjustment
due to all applicable Authorized Denominations and rounding conventions, or (2)&nbsp;otherwise, to the redemption of the Floater Certificates until no such Floater Certificates are Outstanding and then shall be applied to the redemption of the
Related Residual Certificates. The Trustee shall apply any moneys received on account of such redemption as follows: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(i) any payment of accrued and unpaid interest (the Trustor being hereby directed to calculate such accrued and unpaid interest and notify the Trustee thereof) on the Bonds so redeemed to the date of
redemption of the Bonds shall be applied (A)&nbsp;first to the payment of any accrued and unpaid Trustee Fee and accrued and unreimbursed Trustee Advances allocable to the Certificates being redeemed, (B)&nbsp;then to accrued and unpaid Remarketing
and Liquidity Charges allocable to the Certificates being redeemed, (C)&nbsp;then to the accrued and unpaid interest due on the Floater Certificates then being redeemed at the Floater Certificate Rate to the date of redemption of the Bonds,
(D)&nbsp;then to the accrued interest on the Liquidity Loan and (E)&nbsp;then to the Beneficial Owner of the Related Residual Certificates, any balance from such payment of accrued interest; </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">72 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) if Proportionality shall have been adopted in the related Series Trust
Agreement, principal of the Bonds so redeemed (A)&nbsp;shall be applied first to the payment of the Liquidity Bank and of the Beneficial Owners of Stated Amounts of the Floater Certificates and the Related Residual Certificates then being redeemed
selected pursuant to Section&nbsp;11.2, such that, following such redemption, Proportionality is maintained, as nearly as possible, subject to adjustment due to all applicable Authorized Denominations and rounding conventions, and (B)&nbsp;any
remaining principal amount paid in redemption of Bonds, together with payments of interest and premium allocable thereto, shall be paid into the Odd-Lot Subaccount pursuant to Section&nbsp;11.8; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) if Proportionality shall not have been adopted in the related Series Trust Agreement, principal of the Bonds so
redeemed (A)&nbsp;shall be applied first to the payment to the Beneficial Owners of the Related Stated Amount of Floater Certificates then being redeemed of an amount up to the Stated Amount thereof selected pursuant to Section&nbsp;11.2, and
(B)&nbsp;any remaining principal amount paid in redemption of Bonds, together with payments of interest and premium allocable thereto, shall be paid into the Odd-Lot Subaccount pursuant to Section&nbsp;11.8; <I>provided </I>that, if Floater
Certificates in an amount equal to the Related Stated Amount thereof shall have been redeemed, any remaining principal amount paid in redemption of Bonds shall be applied to the redemption of the Related Residual Certificates; and </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) the redemption premium, if any, paid on the Bonds of any Maturity shall be paid (A)&nbsp;to the Beneficial Owners of
the Floater Certificates then being redeemed, an amount equal to the Gain Share to which such Beneficial Owners of Floater Certificates are entitled, and (B)&nbsp;to the Beneficial Owner of the Related Residual Certificates, the remaining redemption
premium. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) All amounts so received shall be distributed to the Beneficial Owners of Certificates on the date set forth in
the constituent instruments of the Bonds for the payment thereof (the &#147;Bond Redemption Date&#148;); <I>provided </I>that, if the Trustee on such date has not confirmed receipt of such amounts in immediately available funds, notwithstanding any
other provision hereof, such distribution may be delayed until the Business Day on which the Trustee has confirmed receipt of immediately available funds; and <I>provided, further, </I>that, if such date is not a Business Day, then the distribution
of such amount otherwise payable on such date shall be payable on the Business Day next succeeding such date as though paid on such date. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;11.02. <U>Selection for Redemption.</U> With respect to each Series of Certificates, if the Bonds of any Maturity are redeemed in part prior to maturity, the Trustee shall redeem Floater
Certificates (and, if Proportionality shall have been adopted in the related Series Trust Agreement, Related Residual Certificates) in Authorized Denominations that would result, as nearly as possible, in Floater Certificates (and, if applicable,
Related Residual Certificates) being redeemed in a Stated Amount that bears the same proportion to the Related Stated Amount of such Maturity as the principal amount of such Maturity being redeemed bears to the principal amount of such Maturity
prior to such redemption. The Trustee shall Select by Lot the Floater Certificates (and, if applicable, Related Residual Certificates) to be so redeemed. The balance of redemption proceeds remaining shall be paid into the Odd-Lot Subaccount pursuant
to Section&nbsp;11.8. Notwithstanding any other provision in this Master Terms of Trust Agreement, Floater Certificates (and, if applicable, Related Residual Certificates) shall be redeemed only in Authorized Denominations and, so long as DTC is the
Securities Depository, redeemed in accordance with applicable DTC procedures. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;11.03. <U>Redemption Notice.</U> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) If any Certificates are deposited with DTC, notice of any redemption of Bonds shall be given as provided in the DTC Letter and in
accordance with applicable DTC procedures. If any Certificates are deposited with another Securities Depository, notice of any redemption of Bonds shall be given in accordance with such Securities Depository&#146;s applicable procedures. The Trustee
shall notify the Remarketing Agent within one Business Day after it receives notice of any redemption of Bonds. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) If the
Certificates are not deposited with a Securities Depository, at least 30 days prior to the date fixed for redemption of the Bonds (or, if notice of redemption of the Bonds is received by the Trustee less than 30 days prior to the date fixed for
redemption of the Bonds, on the Business Day following receipt by the Trustee of such notice of redemption of the Bonds), but in no case more than 60 days before any Bond Redemption Date whether such redemption be in whole or in part, the Trustee
shall cause a notice of any such redemption to be mailed, postage prepaid, to all Holders of Certificates other than a Security Depository to be redeemed in whole or in part and shall simultaneously provide notice by Electronic Means to each
Securities Depository and the Liquidity Bank. Such notice shall be mailed a second time to any Holder of Certificates other than a Securities Depository that have been called for redemption if such Holder has not presented such Certificates for
payment of the redemption price within 60 days after the Bond Redemption Date. Failure to mail any such notice to any Holder or any defect in any notice so mailed shall not affect the validity of the proceedings for the redemption of the
Certificates of any other Holders. Each such notice shall set forth: the CUSIP numbers and if the Certificates are to be redeemed in part while not held at a Securities Depository, certificate numbers of the Certificates to be redeemed, the Bond
Redemption Date, the redemption price to be paid, and, in the case of Certificates to be redeemed in part only, the portion of the Stated Amount thereof to be redeemed, that on the Bond Redemption Date the Certificates called for redemption will be
redeemed at the Designated Office of the Trustee or through the facilities of each Securities Depository, as the case may be, and that from that date interest will cease to accrue and be payable. If any Certificate is to be redeemed in part only,
the notice of redemption shall state also that on or after the Redemption Date, upon surrender of such Certificate, one or more Certificates in an aggregate Stated Amount equal to the unredeemed portion of such Certificates will be issued.
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">74 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;11.04. <U>Effect of Calling for Redemption. </U>If money sufficient to pay the
redemption price of Certificates called for redemption or portions thereof, together with accrued and unpaid interest thereon to the Bond Redemption Date, is held in separate accounts by the Trustee for the Holders thereof, such Certificates and
portions of Certificates as to which a notice pursuant to Section&nbsp;11.3 has been given shall not thereafter be deemed to be Outstanding under this Agreement and shall cease to be entitled to any rights under the Agreement, other than rights to
receive payment of the redemption price thereof and accrued and unpaid interest thereon to the Bond Redemption Date, to be given notice of redemption in the manner provided in Section&nbsp;11.3, and to receive Certificates for any unredeemed
portions of Certificates. If applicable, the Trustee shall deliver to the related Liquidity Bank a certificate in the appropriate form annexed to the related Liquidity Facility appropriately completed in order to effect a reduction of the Amount
Available under such Liquidity Facility. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;11.05. <U>Redemption of Portion of Certificates.</U> If a portion of an
Outstanding Certificate shall be selected for redemption, the Holder thereof or his attorney or legal representative shall present and surrender such Certificate to the Trustee for payment of the Stated Amount thereof so called for redemption and
the accrued and unpaid interest and redemption premium, if any, on such Stated Amount, and the Trustee shall execute and deliver to or upon the order of such registered owner or his legal representative, without charge therefor, for the unredeemed
portion of the Stated Amount of the Certificate so surrendered, one or more Certificates of the same Series, and entitling the Holder to receive interest, principal and premium payments on the Bonds in the same manner; provided, however, that, if
the Holder is a nominee of a Securities Depository, if acceptable to the Trustee, such Securities Depository (a)&nbsp;in its discretion, may surrender such Certificate to the Trustee and request that the Trustee issue a new Certificate for the
unredeemed portion of the Stated Amount of the Certificate so surrendered, or (b)&nbsp;if such Certificate is not so surrendered, shall make an appropriate notation on the Certificate indicating the dates and amounts of such reduction in Stated
Amount. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;11.06. <U>Cancellation.</U> Certificates so redeemed, presented and surrendered shall be canceled upon
the surrender thereof. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;11.07. <U>Revocation of Redemption Notice.</U> Notwithstanding any other provision of
this Master Terms of Trust Agreement, if, on any day any Issuer notifies the Trustee that it has elected to revoke its election to redeem Bonds, the Certificates relating thereto called for redemption, if any, shall not be redeemed on such date and
any notice of redemption mailed to the Holders pursuant to Section&nbsp;11.3 shall be null and void. In such event, within five Business Days after the date on which the Trustee receives notice of such revocation, the Trustee shall cause a notice of
such <U>revocation to be mailed to all Holders of such Certificates and will provide</U> notice by Electronic Means to the Remarketing Agent. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="13%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;11.08.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Amounts in Excess of Floater Certificates in Authorized Denominations to be Deposited in the Odd-Lot Subaccounts.</U> </FONT></TD></TR></TABLE>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) Notwithstanding anything in this Master Terms of Trust Agreement to the contrary, unless and until the Trustee, the Tender Agent, the
Liquidity Bank, the Remarketing Agent and the Securities Depository or Depositories agree on procedures for the issuance of Certificates in Stated Amounts which are not in Authorized Denominations upon the partial redemption of Bonds, the Trustee
will not issue any such odd-lot Certificates but will hold any moneys remaining in excess of the Stated Amounts of Floater Certificates permitted to be redeemed by Section&nbsp;11.2 from such principal of the Bonds of any Maturity so redeemed in
part and from interest and premium allocable thereto uninvested in a special subaccount within the Trust Related to each Maturity (each, an &#147;Odd-Lot Subaccount&#148;). </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">75 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) If on or prior to any Bond Redemption Date of any Maturity the amount of money held to
the credit of principal in the Related Odd-Lot Subaccount <I>plus </I>the amount of funds attributable to principal to be added to such Odd-Lot Subaccount pursuant to such redemption shall equal or exceed an amount equal to an Authorized
Denomination of Floater Certificates (or if Proportionality shall have been adopted in the related Series Trust Agreement, an amount sufficient to redeem Floater Certificates and Related Residual Certificates, as nearly as possible, such that,
following such redemption, Proportionality is maintained, as nearly as possible, subject to adjustment due to all applicable Authorized Denominations and rounding conventions), the Trustee shall on such Redemption Date increase the number of
Certificates to be selected pursuant to such redemption by a Stated Amount of Floater Certificates in the minimum Authorized Denomination. The Trustee shall use as much of such funds as is necessary to pay the principal upon redemption of the
Certificates so redeemed. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) Accrued premium arising from such redemption allocable to amounts of principal paid under
subsection (b)&nbsp;of this Section&nbsp;11.8 shall be withdrawn from the Related Odd-Lot Subaccount and shall be paid in the following sequence (i)&nbsp;to the allocable Trustee Fee, (ii)&nbsp;to the allocable Remarketing and Liquidity Charges, and
(iii)&nbsp;to the Related Residual Certificates. Accrued interest arising from any redemption allocable to amounts of principal paid into the Odd-Lot Subaccount shall be held in the Odd-Lot Subaccount until the next succeeding Bond Interest Payment
Date whereupon it shall be added to the amount of interest being distributed to Floater Certificates and Related Residual Certificates. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(d) Upon receipt of a Withdrawal Request submitted pursuant to Section&nbsp;6.2 by the Beneficial Owner of Related Residual Certificates, the Trustee shall first withdraw from the Related Odd-Lot
Subaccount and pay to such Beneficial Owner: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) such amount of principal as will exhaust the moneys then
held as principal to the credit of the Related Odd-Lot Subaccount, and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) the premium and accrued and
unpaid interest identified with such principal (selected on a first-in, first-out basis) <I>less </I>any accrued and unpaid Trustee Fee and Remarketing and Liquidity Charges allocable thereto. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Trustee shall thereupon instruct DTC to deliver free by book-entry transfer as specified in such Withdrawal Request the principal amount of Bonds of
the Maturity specified in such Withdrawal Request such that the sum of the moneys so withdrawn as principal from the Related Odd-Lot Subaccount and the principal amount of Bonds of such Maturity so delivered free shall equal the principal amount of
Bonds specified in such Withdrawal Request. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;11.09. <U>Special Redemption of Certificates.</U> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) If a Series Trust Agreement includes an Amortization Schedule of Base Prices Related to any Maturity of Bonds of such Series, the
Trustee shall redeem Floater Certificates (and, if Proportionality shall have been adopted in the related Series Trust Agreement, Residual Certificates of the Related Maturity) Selected by Lot, on the corresponding Bond Interest Payment Dates in the
corresponding Floater Certificate Redemption Amounts (and, if applicable, Related Residual Certificate Redemption Amounts) listed on such schedule, such that the Related Stated Amount of Floater Certificates of such Maturity (and, if Proportionality
shall have been adopted in the related Series Trust Agreement, the Related Residual Certificates) Outstanding following such redemption does not exceed the par amount of Related Bonds held by the Trust on such Bond Interest Payment Date
<I>multiplied </I>by the Related Amortized Base Price set forth on such Amortization Schedule of Base Prices. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">76 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) Notice of redemption pursuant to this Section&nbsp;11.9 shall be sent in accordance with
Section&nbsp;11.3 and the Certificates so redeemed, presented and surrendered shall be cancelled upon the surrender thereof. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) The redemption price of Certificates of any Series to be redeemed pursuant to this Section&nbsp;11.9 shall be the Stated Amount
thereof together with, in the case of Floater Certificates, accrued and unpaid interest computed at the Floater Certificate Rate of such Series, and shall be paid by the Trustee with funds in the priority as set forth in Section&nbsp;3.2(b) on such
Bond Interest Payment Date. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) If a portion of the Bonds of any Maturity are called for redemption and the Related Bond
Redemption Date is not also a Bond Interest Payment Date, the Trustee shall, following the redemption of Certificates pursuant to Section&nbsp;11.1, effect an additional redemption of Certificates pursuant to Section&nbsp;11.9(a) such that the
Related Stated Amount of Floater Certificates of such Maturity (and, if Proportionality shall have been adopted in the related Series Trust Agreement, the Related Residual Certificates) following such redemption does not exceed the par amount of
remaining Bonds of such Maturity held by the Trust on such Bond Redemption Date <I>multiplied </I>by an Amortized Base Price determined by interpolating between the Related Amortized Base Prices set forth on the Amortization Schedule of Base Prices
for the preceding Bond Interest Payment Date and the next succeeding Bond Interest Payment Date. The redemption of Certificates effected pursuant to Section&nbsp;11.9(a) on the next succeeding Bond Interest Payment Date shall be reduced by the
amount of any additional redemption effected pursuant to this Section&nbsp;11.9(d). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) If all of the Bonds of any Series are
called for redemption and following the redemption of Certificates pursuant to Section&nbsp;11.1 the aggregate Related Stated Amounts of Floater Certificates of such Series Outstanding would be greater than zero, all Floater Certificates of such
Series shall be subject to mandatory tender on the related Bond Redemption Date with the consequences described in Section&nbsp;5.2 as if a Mandatory Tender Event shall have occurred with respect to all Certificates of such Series. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">77 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE XII </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>CERTAIN COVENANTS OF THE PARTIES </B></FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;12.01. <U>Covenant to
Perform and Authority of the Trustor.</U> The Trustor shall faithfully perform at all times all of its covenants, undertakings and agreements contained in this Master Terms of Trust Agreement and in any Certificate executed and delivered hereunder.
The Trustor represents that it is duly authorized to execute this Master Terms of Trust Agreement and each Series Trust Agreement; that all action on its part for the issuance of the Certificates and the adoption of the Agreement has been duly and
effectively taken; and that such Certificates in the hands of the Holders thereof will be valid rights to receive payments on or distributions of the Bonds in the manner herein and in the Certificates specified, enforceable according to their terms,
notwithstanding the bankruptcy, insolvency or liquidation of the Trustor. The Remarketing Agent at the direction of the Trustor shall give the other Notice Parties and the Holders of the Certificates notice of any substitution, replacement or
resignation of the Trustor under this Master Terms of Trust Agreement at least 30 days prior to the effective date thereof. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;12.02. <U>Covenants of the Tax Responsible Partner as to the Tax Responsible Partner&#146;s Required Controlling Interest.
</U>The Tax Responsible Partner now has, and shall continue to have during the term of this Agreement, the Tax Responsible Partner&#146;s Required Controlling Interest which term shall mean: </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) If the State Partnership Factors shall have been adopted in the related Series Trust Agreement, (A)&nbsp;if and so
long as the Stated Amount of Outstanding Certificates exceeds $50,000,000, a Stated Amount of Floater Certificates, Residual Certificates, or combination thereof, representing not less than 1% multiplied by the result obtained by dividing
$50,000,000 by the Stated Amount of then Outstanding Certificates (but in no event less than two-tenths of one percent); and (B)&nbsp;if and so long as the Stated Amount of Outstanding Certificates equals or is less than $50,000,000, a Stated Amount
of Floater Certificates, Residual Certificates, or combination thereof, representing not less than 1%. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii)
If the State Partnership Factors shall not have been adopted in the related Series Trust Agreement, a Stated Amount of Floater Certificates, Residual Certificates, or combination thereof, of not less than $5,000. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;12.03. <U>Covenant of the Parties not to place Trust into Bankruptcy.</U> Each of the parties hereto covenants that it shall
not, until at least one year and one day after the termination of the Agreement pursuant to Section&nbsp;14.5, take any action to file an involuntary bankruptcy petition against the Trust. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;12.04. <U>Credit Ratings.</U> The Trustor shall at its expense take all reasonable action necessary to enable at least one
NRSRO to provide credit ratings for the Floater Certificates. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">78 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE XIII </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>THE TRUSTEE, THE TENDER AGENT AND THE REMARKETING AGENT </B></FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.01. <U>Acceptance of Duties; Purposes and Powers; No Additional Liabilities or Indebtedness.</U> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) The Trustee and the Tender Agent by execution hereof accept and agree to fulfill the obligations imposed upon each of them by the
Agreement, but only upon the terms and conditions set forth in this Article XIII and subject to the provisions of the Agreement, to all of which the Trustor and the respective Holders agree. The Trustee and the Tender Agent are not authorized to,
and by execution hereof each agrees that it will not, engage in activities with respect to the Trust that are not prescribed by the Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(b) The purpose of the Trust is to engage in the following activities, and only in such activities: (i)&nbsp;purchasing, owning, holding and selling (whether itself or through agents) the assets of the
Trust; (ii)&nbsp;the issuance and sale of Certificates as provided in the Agreement; and (iii)&nbsp;such other activities as may be required or permitted by the express terms of the Agreement in connection with the conservation and administration of
the assets of the Trust and distributions to Holders of Certificates. The Trust shall engage only in the foregoing activities. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) The Trust will not, and the parties to the Agreement and Holders of Certificates will not cause the Trust to, incur, assume or
guarantee any liability or indebtedness except pursuant to the express terms of the Agreement. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.02. <U>Limited
Liability.</U> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) Although called a Trustee, the Trustee shall be responsible for performing such duties and only such duties
as are specifically set forth in the Agreement and no implied covenants, duties or obligations (whether of a fiduciary nature or otherwise) shall be read into the Agreement or implied in law against the Trustee. It is intended that the duties of the
Trustee under the Agreement will be ministerial in nature similar to those of a custodian. The foregoing is also intended to restrict the Trustee&#146;s duties at law or in equity (including fiduciary duties) and liabilities relating thereto. The
Trustee may exercise any power or perform any obligations required on its part hereunder either directly or through one or more agents chosen with due care. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(b) The Trustee and the Tender Agent shall incur no liability to any Holder of any Certificate if, by reason of any provision of any present or future law or regulation thereunder of any governmental
authority or by reason of any natural disaster or war or other similar circumstance beyond its control, the Trustee or the Tender Agent is prevented from doing or performing any act or thing which the terms of the Agreement provide should be done or
performed. In no event shall the Trustee or the Tender Agent be liable for special, consequential or punitive damages of any kind whatsoever, including lost profits, even if the Trustee or the Tender Agent has been advised of the possibility thereof
and regardless of the form of action in which such damages are sought. In no event shall the Trustee or Tender Agent be liable for the acts or omissions of any Securities Depository. The Trustee and the Tender Agent shall have no responsibility for
the accuracy of any information provided hereunder that has been obtained from, or provided to the Trustee or the Tender Agent by any other entity. If the State Partnership Factors shall have been adopted in the related Series Trust Agreement, the
Tax Responsible Partner shall be liable for claims against the Trust as provided in Section&nbsp;2.3(b). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) The Trustee and
the Tender Agent shall not be charged with knowledge of any event or condition unless an officer of the Trustee assigned to the administration of the Trust has actual knowledge thereof. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">79 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) The Trustee and the Tender Agent shall assume no obligation and shall not be subject to
any liability to Holders of Certificates in the performance of its respective duties hereunder, other than by reason of its own willful misconduct, bad faith or gross negligence. Neither the Trustee nor the Tender Agent is under any obligation to
take any action, including (in the case of the Trustee) making any Trustee Advances, that may tend to involve it in any expense or liability, the recovery or payment of which within a reasonable time is not, in its reasonable opinion, assured to it.
The Trustee, the Tender Agent and the Trustor may each own and deal in the Bonds, in obligations of the same issue and maturity as the Bonds and in the Certificates, as though they were not the Trustee, the Tender Agent or the Trustor, respectively,
under this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) The Trustee and the Tender Agent shall be entitled to rely on and shall be under no obligation to
verify: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) any determination of any statistical amount, price, valuation, mathematical value or market price
furnished to the Trustee by the Remarketing Agent including, without limitation, accrued and unpaid interest on the Floater Certificates, the Base Price, the Designated Termination Date and the Quotation of Bond Price; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) any rate, price, yield or other numerical amount set forth in any Series Trust Agreement; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) information in any Purchaser&#146;s Letter delivered pursuant to Section&nbsp;10.12(b); and </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) the validity and accuracy of any requests or instructions, including notices delivered by Beneficial Owners,
conforming to the requirements of this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(f) Neither the Trustee nor the Tender Agent shall have any obligation or
be subject to any liability to any Beneficial Owner for the performance of any duties imposed on DTC or any DTC Participant (direct or indirect) under the terms of this Agreement or any Certificate. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.03. <U>Tender Agent.</U> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(a) The Tender Agent agrees to: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) hold all Floater
Certificates delivered to it in trust for the benefit of the respective Holders that shall have so delivered such Floater Certificates until moneys representing the Purchase Price of such Floater Certificates shall have been delivered to or for the
account of such Holders or Beneficial Owners; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) hold all money delivered to it hereunder for the purchase
of Floater Certificates uninvested and separate and apart from all other funds of the Tender Agent, uninvested and in trust for the benefit of the Person which shall have so tendered such money until the Floater Certificates purchased with such
money shall have been delivered to or for the account of such Person; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) keep such books and records as
shall be consistent with prudent industry practice and to make such books and records available for inspection by the Trustor, the Liquidity Bank, the Remarketing Agent and the Trustee at all reasonable times; and </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">80 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) (iv) take such actions and perform such duties as are expressly
provided herein and take such other actions as are reasonably necessary to enable the Liquidity Bank to make the payments required under this Agreement, and to enable the Remarketing Agent to remarket Floater Certificates delivered to the Tender
Agent hereunder. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) The office of Tender Agent shall be filled by the Trustee. If the Trustee resigns or is replaced, it
shall also resign or be replaced as Tender Agent in accordance with the provisions set forth in Section&nbsp;13.8. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) For
all purposes of the Agreement, the Trustee and the Tender Agent may assume that no Tender Option Termination Event, Liquidity Event or Mandatory Tender Event has occurred until and unless an officer of the department of the Trustee administering the
Agreement shall have received written notice thereof and neither the Trustee nor the Tender Agent shall be liable for any action taken or omitted to be taken on the basis of such assumption. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) Neither the Trustor nor the Liquidity Bank shall have any right, title or interest in or to any moneys delivered to the Tender Agent,
the Trustee or to the Remarketing Agent hereunder for the purchase of Floater Certificates. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.04. <U>Fidelity
Bond.</U> The Trustee is required at all times to maintain a fidelity bond or other insurance (which may be self-insurance) in reasonable form and amount to protect against loss due to dishonest or fraudulent action by its employees in connection
with its obligations under the Agreement; <I>provided </I>that the amount of such fidelity bond or other insurance shall not exceed the amount required by the regulators of the Trustee. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.05. <U>Indemnification of Trustee and Tender Agent.</U> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) The Trustor agrees to indemnify the Trustee and the Tender Agent, including any directors, officers, employees or agents thereof (the
&#147;Indemnitees&#148;), against, and hold the Indemnitees harmless from, any liability or expense (including reasonable counsel fees and expenses) relating to, or in any way connected with acting as Trustee or Tender Agent except for any liability
or expense arising out of acts of gross negligence, bad faith or willful misconduct on the part of the Trustee, the Tender Agent or any other Indemnitee to the extent that such Indemnitee is seeking indemnification hereunder. Without limiting the
generality of the foregoing, the Indemnitees shall have no duty or responsibility for and shall not be deemed to have been negligent with respect to, and the Trustor shall indemnify and hold harmless the Indemnitees against, any liability arising
out of any claim that (i)&nbsp;the Bonds, at the time of their original issuance, were not delivered with an Opinion of Counsel generally to the effect that interest on the Bonds is excludable from gross income for federal income tax purposes,
(ii)&nbsp;any disclosure with respect to the Bonds or the Certificates required by applicable federal and state laws was not made, (iii)&nbsp;registration of the Certificates or any investment company relating to the Certificates and this Agreement
is required by applicable federal or state securities laws and the Trustor failed to effect such registration or (iv)&nbsp;that the Bonds are not genuine. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">81 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) If the indemnification provided for in subsection (a)&nbsp;of this Section&nbsp;13.5 is
invalid or unenforceable in accordance with its terms, then the Trustor shall contribute to the amount paid or payable by the Indemnitees as a result of such liability in such proportion as is appropriate to reflect the relative benefits received by
the Trustor on one hand and the Indemnitees, on the other, from the issuance and sale of such Certificates. For this purpose the benefits received by the Trustor shall be the aggregate amount received by the Trustor upon the sale of such
Certificates, <I>less </I>the costs and expenses of such sale, including the cost of acquisition of the Bonds or parts thereof evidenced thereby, and the benefits received by the Indemnitees shall be the aggregate amount of fees received by each,
<I>less </I>costs and expenses incurred by each in relation to the Certificates. If, however, the allocation provided by the immediately preceding two sentences is not permitted by applicable law, then the Trustor shall contribute to such amount
paid or payable by the Indemnitees, in such proportion as is appropriate to reflect not only such relative benefits but also the relative fault of the Trustor on the one hand and the Indemnitees on the other in connection with the actions or
omissions which resulted in such liability, as well as any other relevant equitable considerations. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) In case any claim
shall be made or action brought against the Indemnitees for any reason for which indemnity may be sought against the Trustor as provided above, the Indemnitees may promptly notify the Trustor in writing setting forth the particulars of such claim or
action and the Trustor may assume the defense thereof. In the event that the Trustor assumes the defense, the Indemnitees shall have the right to retain separate counsel in any such action but shall bear the fees and expenses of such counsel unless
(i)&nbsp;the Trustor shall have specifically authorized the retaining of such counsel or (ii)&nbsp;the parties to such suit including the Indemnitees and the Trustor have been advised in writing by such counsel that one or more legal defenses may be
available to it which may not be available to the Trustor in which case the Trustor shall not be entitled to assume the defense of such suit notwithstanding its obligation to bear the reasonable fees and expenses of such counsel. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) The term &#147;liability,&#148; as used in this Section&nbsp;13.5, shall include any losses, claims, damages, expenses (including
without limitation the Indemnitee&#146;s reasonable costs and expenses in defending itself against any losses, claims or investigations of any nature whatsoever, but excluding lost profits or other consequential damages of the Indemnitee) or other
liabilities, joint or several, arising for any reason under the Agreement (including without limitation violation of applicable laws or trademarks or service marks). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(e) The obligations of the Trustor under this Section&nbsp;13.5 shall be in addition to any liability which the Trustor may otherwise have and shall extend, upon the same terms and conditions, to each
officer and director of the Indemnitees and to each Person, if any, who controls any Indemnitee within the meaning of the Securities Exchange Act of 1934. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(f) Upon any removal or resignation of any Indemnitee, such Indemnitee&#146;s right to indemnification and the Trustor&#146;s obligations to indemnify such Indemnitee hereunder shall survive such removal
or resignation. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(g) The sole recourse of any Indemnitee under this Section&nbsp;13.5 shall be to the Trustor and the assets
of the Trustor. In no event shall any Indemnitee have any claim under this Section&nbsp;13.5 for payment against the Trust or any of the assets of the Trust. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">82 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.06. <U>Monthly Statements from Trustee.</U> It shall be the duty of the
Trustee, on or before the 15th day of each month, to file with the Trustor and the Liquidity Bank a statement setting forth in respect of the preceding calendar month: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(a) the amount of Bonds withdrawn; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) the amount received upon redemption of
Bonds and a description of the Certificates or portions thereof redeemed under the provisions of Article XI; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) any
other information that the Trustor may reasonably request. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Should none of the events described in clauses (a)&nbsp;and (b)&nbsp;have occurred
during such preceding month and should the Trustor not request any other information, then no statement in respect of such preceding month need be given by the Trustee pursuant to this Section&nbsp;13.6. All records and files pertaining to
Certificates and the Bonds in the custody of the Trustee shall be open at all reasonable times to the inspection of the Trustor, the Liquidity Bank, the Holders of Certificates and their agents and representatives. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.07. <U>Reliance; Advice of Counsel.</U> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(a) The Trustee shall incur no liability to anyone in acting upon any signature, instrument, consent, order, certificate, report, opinion, bond or other document or paper reasonably believed by it to be
genuine and reasonably believed by it to be signed by the proper party or parties and need not investigate any fact or matter in any such document as long as the Trustee has otherwise satisfied its obligations under this Agreement. As to any fact or
matter the method of the determination of which is not specially prescribed herein, the Trustee may for all purposes hereof rely on a certificate, signed by the president or any vice president or by the treasurer or other authorized officers of the
relevant party, as to such fact or matter, and such certificate shall constitute full protection to the Trustee for any action taken or omitted to be taken by it in good faith in reliance thereon. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) In the exercise or administration of the Trust hereunder the exercise of its rights and powers and in the performance of its duties
and obligations under this Agreement, the Trustee: (i)&nbsp;may act directly or through its agents, attorneys, custodians or nominees pursuant to agreements entered into with any of them, and although the Trustee shall be responsible for all
obligations of the Trustee hereunder, the Trustee shall not be liable for the conduct or misconduct of such agents, attorneys, custodians or nominees as shall have been selected with reasonable care by the Trustee in good faith; and (ii)&nbsp;may
consult with counsel, accountants and other skilled professionals to be selected with reasonable care in good faith an employed by it. The trustee shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the
opinion or advice of any such counsel, accountants or other such persons as long as no Officer of the Trustee administering this Agreement has any actual knowledge that such opinion or advice is inappropriate or based on incorrect information.
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">83 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.08. <U>Resignation, Removal and Replacement of Trustee and Tender Agent.</U>
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) The Trustee and Tender Agent may at any time resign as Trustee and Tender Agent by giving written notice of its election
to do so to the Notice Parties and such resignation shall become effective upon the appointment by the Trustor of a successor Trustee and Tender Agent subject to, and agreeing to comply with, the terms and conditions of the Agreement. If at any time
the Trustee and Tender Agent becomes incapable of acting or is adjudged a bankrupt or insolvent, or a receiver of the Trustee and Tender Agent or of its property is appointed, or any public officer takes charge or control of the Trustee and Tender
Agent or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Trustor or any Holder of a Floater Certificates, on behalf of itself and all others similarly situated, may petition any court of competent
jurisdiction for the removal of the Trustee and Tender Agent and the appointment of a successor Trustee and Tender Agent, and if no such Person has made such a petition within 30 days of such occurrence, then in addition the Holder of Residual
Certificates may petition any court of competent jurisdiction for the removal of the Trustee and Tender Agent and the appointment of a successor Trustee and Tender Agent. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(b) If at any time the Trustee and Tender Agent notifies the Trustor that it elects to resign as Trustee and Tender Agent, the Trustor shall, within 45 days after the delivery of the notice of
resignation, appoint a successor Trustee and Tender Agent, which shall be a commercial bank with trust powers or trust company having its principal office in the United States of America and having a combined capital and surplus of at least
$50,000,000 or whose obligations hereunder are guaranteed by a Person whose capital and surplus or net worth is at least that amount. If no successor Trustee and Tender Agent has been so appointed within such 45-day period, the Trustee and Tender
Agent may petition any court of competent jurisdiction for the appointment of a successor Trustee and Tender Agent. In the event of the resignation of the Trustee or the Tender Agent, the Trustee or Tender Agent, as applicable, shall pay over,
assign and deliver any money and Floater Certificates held by it in such capacity to its successor. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) Notwithstanding the
foregoing, no resignation or removal of the Trustee and Tender Agent in accordance with the provisions hereof shall become effective until its successor Trustee and Tender Agent has accepted its appointment hereunder and the Trustee and Tender Agent
shall have transferred the Bonds and the Liquidity Facility, in accordance with its terms, to its successor prior to any such resignation or removal. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(d) Any corporation into which the Trustee and Tender Agent may be merged or converted or with which it may be consolidated or any corporation succeeding to all or substantially all the business of the
department or group which administers this Trust shall be the successor of the Trustee and Tender Agent hereunder; <I>provided </I>that such corporation shall be otherwise eligible under Section&nbsp;13.8(b). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) Notwithstanding anything herein to the contrary, a successor Trustee and Tender Agent shall not be the Trustor, the Liquidity Bank,
the Remarketing Agent or any affiliate of the foregoing. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.09. <U>Default on Bonds.</U> With respect to any
default on the Bonds, the Trustee is not authorized to and will not proceed against the Issuer thereof or any other obligor on such Bonds or assert the rights and privileges of Holders and has no duty to do so. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">84 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.10. <U>Notice of Certain Defaults.</U> Upon receipt of notice of any default
on any Maturity of Bonds from the Issuer&#146;s trustee or other applicable fiduciary or upon actual knowledge thereof by an officer of the Trustee assigned to the administration of the Trust, the Trustee shall promptly give notice of such default
to the Notice Parties and the Holders of the Certificates. Such notice shall set forth (a)&nbsp;the date and nature of such default, (b)&nbsp;the amount of principal and the amount of interest to which such default relates, and (c)&nbsp;any other
information which the Trustee deems appropriate. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;13.11. <U>Remarketing Agent.</U> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) On the date of the Master Terms of Trust Agreement, the Trustor is entering into a Remarketing Agreement with the party identified
therein as the initial Remarketing Agent. The Remarketing Agent shall serve as such under the terms and provisions hereof and of the Remarketing Agreement. The Remarketing Agent, including any successor appointed pursuant to the Remarketing
Agreement shall be a member of the National Association of Securities Dealers, Inc., having capitalization of at least $50,000,000, and be authorized by law to perform all the duties imposed upon it by this Agreement and the Remarketing Agreement.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) If the Trustor elects in a Series Trust Agreement that the Remarketing Agent for the related Series be a Person other
than the initial Remarketing Agent, the Trustor shall enter into a Remarketing Agreement with the Remarketing Agent for such Series. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>ARTICLE XIV </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>MISCELLANEOUS </B></FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;14.01. <U>Waiver of Jury Trial; Governing Law; Submission to Jurisdiction.</U> </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>EACH OF THE PARTIES TO THE TRUST AGREEMENT, INCLUDING ANY HOLDER OR BENEFICIAL OWNER OF CERTIFICATES, HEREBY KNOWINGLY, VOLUNTARILY,
AND INTENTIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT TO TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT
OF, RELATED TO OR CONNECTED WITH THE TRUST AGREEMENT, THE TRANSACTIONS CONTEMPLATED THEREBY OR THE RELATIONSHIP ESTABLISHED THEREUNDER AND AGREE THAT ANY SUCH PROCEEDING SHALL BE TRIED BEFORE A JUDGE SITTING WITHOUT A JURY. </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Trust Agreement and the rights and obligations of the parties to the Trust Agreement, including any Holder or Beneficial Owner of
Certificates, shall be governed by and construed in accordance with the laws of the State of New York. For purposes of any suit, action or proceeding involving the Trust Agreement or any judgment entered by any court in respect of such suit, action
or proceeding, each of the parties hereto expressly submits to the exclusive jurisdiction of any New York State or U.S. Federal court sitting in The City of New York, New York, and each of the parties irrevocably waives any objection it may now or
hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to the Trust Agreement brought in such New York State or U.S. Federal court sitting in The City of New York, New York and further irrevocably waives
any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. Each of the parties hereto agrees that any order, process or other paper may be served upon it within or without such
court&#146;s jurisdiction by mailing a copy to such party at its address for notices provided herein, provided that a reasonable time for appearance is allowed and provided further that if for any reason the New York State and U.S. Federal courts
sitting in The City of New York, New York cannot or will not accept jurisdiction over any such suit, action or proceeding, then the exclusivity of jurisdiction in such New York courts shall not apply. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">85 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Each Holder and Beneficial Owner of Certificates by its purchase of its Certificates agrees
to this provision. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;14.02. <U>Notices.</U> </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) Any notice or other instrument in writing which is authorized or required by the Agreement to be given shall be sufficiently given if
sent by Electronic Means or addressed to and received by the addressee at its office specified below if the entities listed below serve in the respective capacities listed below, or at such other place as the addressee may from time to time
designate to the parties hereto in writing, or if an entity listed below does not serve in the capacity listed below, then at the address provided in the Series Trust Agreement or otherwise provided in writing by such entity: </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">If to the Trustor, addressed: </FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Products, Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">60 South Sixth Street </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Minneapolis, Minnesota 55402-4422 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Attention: Rob Foerster </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Email:Rob.Foerster@rbcdain.com</U>
</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">If to the Trustee, at the address provided by the Trustee in writing. </FONT></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">If to the Tender Agent, at the address provided by the Tender Agent in writing. </FONT></TD></TR></TABLE>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">If to the Remarketing Agent, at the address provided in the Remarketing Agreement: </FONT></TD></TR></TABLE>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(v)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(vi) If to the Liquidity Bank, addressed: </FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Royal Bank of Canada </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151; New York Branch </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">One Liberty Plaza, 3rd Floor </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">New York, New York 10006-1404 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attention: Manager, Loans
Administration </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Telephone No.: (212)&nbsp;428-6369 </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Facsimile No.: (212)&nbsp;428-2372 </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">86 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">with a copy to: Royal Bank of Canada </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">One Liberty Plaza, 3rd Floor </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">New York, New York 10006-1404 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attention: Laurent Mastey
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Telephone No.: (212)&nbsp;428-6534 </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Facimile No.: (212)-428-6201 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(b) With respect to any notice to be provided hereunder to the Trustee or Tender Agent, the Trustee or Tender Agent may require that such notice be signed by an officer of the party giving notice. The
Trustee is hereby authorized and directed to give notice by first class mail, postage prepaid or by Electronic Means, to (i)&nbsp;any Beneficial Owners who have requested to receive notice pursuant to Section&nbsp;14.2(c) hereof and (ii)&nbsp;each
of the Floater Certificate Rating Agencies identified as such in the Series Trust Agreement, which may include: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Moody&#146;s Investors Service, Inc. 99 Church Street </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, New York 10007 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Facsimile No.: (212)&nbsp;553-4090 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>E-mail:
mdymuni.deriv@moodys.com</U> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">(or such other address as it may specify in writing to the Trustee) and/or </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Standard&nbsp;&amp; Poor&#146;s Ratings Services </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%;padding-bottom:0px;"><FONT STYLE="font-family:Times New Roman" SIZE="2">55 Water Street, 38</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Floor </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">New York, New York 10041 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attn: Municipal Structured Group
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Facsimile No.: (212)&nbsp;438-2151 <U> </U></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Email: pubfin_structured@sandp.com</U> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(or such other address as it may specify in writing to the Trustee) and/or </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Fitch Ratings </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">One State Street Plaza, 30th Floor </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, New York 10004 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Facsimile No.: (212)&nbsp;480-4421 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>E-mail:
mary.ziga@fitchratings.com</U> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">(or such other address as it may specify in writing to the Trustee) </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">or their respective successors of the occurrence of any of the following: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(i) any amendment of or supplement to the Agreement pursuant to Section&nbsp;14.4; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) any substitution, removal or resignation of the Trustor, the Trustee, the Tender Agent or the Remarketing Agent and the appointment
of a successor pursuant to Section&nbsp;12.1, 13.8 or 13.11, as applicable; </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">87 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) any redemption of Certificates pursuant to Section&nbsp;11.1; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iv) any Mandatory Tender Event pursuant to Section&nbsp;5.2; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(v) any Liquidity Event or any Tender Option Termination Event pursuant to Section&nbsp;5.1; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(vi) the Floater Certificates no longer being registered solely in the name of DTC or its nominee; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(vii) any acquisition of Bonds pursuant to Section&nbsp;6.1 or withdrawal of Bonds pursuant to Section&nbsp;6.2; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(viii) each Maturity of Bonds held in the Trust as of the last day of the month and the principal amount thereof; <I>provided </I>that such information need only be sent in the month following any
transfer or withdrawal of Bonds pursuant to Section&nbsp;6.1 or Section&nbsp;6.2; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ix) any change in proportionality pursuant
to Section&nbsp;6.3, including any execution and delivery of additional Residual Certificates pursuant to Section&nbsp;6.3(a) and (b)&nbsp;or additional Floater Certificates pursuant to Section&nbsp;6.3(c) and (d); </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(x) any redemption of Bonds pursuant to Article XI or the revocation of any such redemption of Bonds as provided in Section&nbsp;11.7;
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(xi) the extension of or the amendment of the Liquidity Facility hereunder; <I>provided </I>that, prior to entering into an
amendment of the Liquidity Facility, the Trustee shall send notice of the proposed amendment to Beneficial Owner&#146;s whose names are on the list maintained pursuant to Section&nbsp;14.2(c) hereof at least 15 days prior to the effective date of
such amendment. Further, the Trustee shall not enter into an amendment of the Liquidity Facility unless an Optional Tender Date shall occur prior to the effective date of the amendment and after the date the Trustee sends notice of the amendment to
the Beneficial Owner&#146;s described in the immediately preceding sentence. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(xii) any default specified in
Section&nbsp;13.10, (xiii)&nbsp;any increase in the Remarketing Agent Fee Rate, the Liquidity Fee Rate or the Trustee Fee Rate, as provided in Section&nbsp;3.3(e); </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(xiii) the receipt of notice by the Trustee from the Remarketing Agent or the Trustor, as applicable, of the occurrence of any amendment to provisions of the Remarketing Agreement relating to
responsibilities of the Remarketing Agent with respect to bids for Floater Certificates being remarketed which are binding on the bidder; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(xiv) the receipt of notice by the Trustee from the Remarketing Agent or the Liquidity Bank, as applicable, of the occurrence of any of the events described in Section&nbsp;5.2(a)(iii), (vii),
(viii)&nbsp;or (ix), regardless of whether or not the Liquidity Bank or Remarketing Agent, as applicable, upon the occurrence thereof, has elected to declare a Mandatory Tender Event; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(xv) any determination by the Remarketing Agent of a new Minimum Maximum Floater Certificate Rate pursuant to Section&nbsp;3.5(b);
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">88 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(xvi) any change of a Rate Mode pursuant to Section&nbsp;7.2; and </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(xvii) each Quotation of Bond Price. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(c) Any Beneficial Owner may indicate on its Purchaser&#146;s Letter that it requests to receive by Electronic Means any notice provided by the Trustee to Holders pursuant to this Agreement and provide
thereon (i)&nbsp;the name of the contact person to whom such notice shall be addressed; (ii)&nbsp;a facsimile number; and (iii)&nbsp;a telephone number. The Remarketing Agent will provide to the Trustee the identity and address of the Beneficial
Owners who have requested to be provided with such notice by Electronic Means. The Trustee shall provide such notice only to Beneficial Owners identified by the Remarketing Agent as those Beneficial Owners who have requested such notice and the
Trustee shall provide notice to such Beneficial Owners at the same time that it provides such notice to Holders of Certificates. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(d) Notwithstanding the foregoing provisions of this Section&nbsp;14.2, it is expressly understood and agreed that the Trustee is agreeing to give such notices as a matter of courtesy and accommodation
and will endeavor to provide them, but shall not incur any liability or obligation, of any kind with respect to any such notices delivered to any Floater Certificate Rating Agency or any Beneficial Owner of Certificates registered on the list
referred to in Section&nbsp;14.2(c) or by reason of any failure to deliver any such notice or to maintain the accuracy of such list of Beneficial Owners of Certificates. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(e) The Remarketing Agent and Trustor each agrees that, immediately upon becoming aware of any Tender Option Termination Event, Liquidity Event or Mandatory Tender Event, it shall give notice thereof to
the Trustee and the Liquidity Bank. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;14.03. <U>Binding Agreement.</U> The Agreement shall extend to and shall be
binding upon the parties hereto and their respective successors and assigns. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;14.04. <U>Amendments.</U>
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) The Trustor and the Trustee may amend this Agreement at any time, such amendment to be immediately effective without the
consent of any Beneficial Owners of Certificates, for purposes of any of the following: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) obtaining or
maintaining any rating on the Floater Certificates and/or the Residual Certificates by any NRSRO; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii)
providing for a qualified Securities Depository to replace DTC or another Securities Depository; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii)
modifying the restrictions on resale and other transfers of the Certificates in accordance with the terms of Section&nbsp;10.12(d) and (e)&nbsp;hereof; or </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(iv) modifying the definition of &#147;Maximum Floater Certificate Rate&#148; in Section&nbsp;1.1 and related provisions of the Agreement to the extent necessary to comply with Section&nbsp;171 of the
Code and the regulations thereunder and otherwise to maintain the tax-exempt treatment of interest distributions on the Certificates; </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">89 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>provided </I>that (i)&nbsp;the Trustee shall have received an Officer&#146;s Certificate of the Trustor
to the effect that such amendment will not adversely affect the interests of any Beneficial Owners of Certificates; (ii)&nbsp;the Trustee receives an Opinion of Counsel of appropriate special tax and securities counsel to the effect that such
amendment will not result in the withdrawal of, or modification of the conclusions of, any opinion previously delivered regarding tax and securities law treatment of the Certificates; (iii)&nbsp;the Liquidity Bank consents to such amendment and
(iv)&nbsp;concurrent notice of such amendment is given by the Remarketing Agent at the direction of the Trustor to all Notice Parties and to the Securities Depositories for transmission to the Beneficial Owners of Certificates and, in the case of
any amendments pursuant to Section&nbsp;14.4(a)(iv), directly to Registered Holders, Electing Managers and any Beneficial Owners who have requested to receive notice pursuant to Section&nbsp;14.2(c) hereof. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) The Trustor and the Trustee may also amend the Agreement at any time without the consent of any of the Beneficial Owners to the
extent that any such amendment is, in the Opinion of Counsel, necessary for the Trust to reduce a material risk of noncompliance with Revenue Procedure 2003-84 (including any amendment or successor thereto); provided that (i)&nbsp;the Trustee
receives an Officer&#146;s Certificate of the Trustor to the effect that such amendment will not adversely affect the interests of any Beneficial Owners; (ii)&nbsp;the Trustee receives an Opinion of Counsel of appropriate special tax and securities
counsel to the effect that such amendment will not result in the withdrawal of, or modification of the conclusions of, any opinion previously delivered regarding tax and securities law treatment of the Certificates; (iii)&nbsp;the Liquidity Bank
consents to such amendment and (iv)&nbsp;notice of such amendment is given by the Remarketing Agent at the direction of the Trustor at least two Business Days prior to the effective date of such amendment to all Notice Parties, Registered Holders,
Electing Managers and any Beneficial Owners who have requested to receive notice pursuant to Section&nbsp;14.2(c) hereof. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c)
The Trustor and the Trustee may also amend the Agreement at any time and from time to time for any other purpose and in any other respect which they may deem necessary or desirable (except with respect to matters explicitly addressed in
Section&nbsp;14.4(a)(iv) or Section&nbsp;14.4(b)), with the consent of the Beneficial Owner of the Residual Certificates and the consent of the Beneficial Owners of a majority of the Stated Amount of Floater Certificates; <I>provided </I>that
(i)&nbsp;any amendment the sole purpose of which is to cure any formal defect, omission, inconsistency or ambiguity in the Agreement shall not require the consent of any Beneficial Owners of Floater Certificates, (ii)&nbsp;the Trustee shall have
received an Officer&#146;s Certificate of the Trustor to the effect that such amendment will not adversely affect the interests of any Beneficial Owners, (iii)&nbsp;the Trustee has received an Opinion of Counsel of appropriate special tax and
securities counsel to the effect that such amendment will not result in the withdrawal of, or modification of the conclusions of, any opinion previously delivered regarding tax and securities law treatment of the Certificates; (iv)&nbsp;the
Liquidity Bank consents to such amendment and (v)&nbsp;the effective date of such amendment shall be a date which is no earlier than the later of (x)&nbsp;the tenth (10th)&nbsp;Business Day following delivery of notice of such amendment by the
Trustee by Electronic Means to the Notice Parties and to the Securities Depositories for transmission to the Beneficial Owners of Certificates and (y)&nbsp;the Optional Tender Date for the Floater Certificates affected by such amendment that occurs
immediately following the delivery of the notice pursuant to subclause (x)&nbsp;of this clause (v). </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">90 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) No amendment pursuant to this Section&nbsp;14.4, except for an amendment pursuant to
Section&nbsp;14.4(a)(i), shall take effect unless each Floater Certificate Rating Agency shall have confirmed in writing to the Trustee that such amendment will not cause the rating then assigned to the Floater Certificates to be reduced or
withdrawn. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) No amendment pursuant to this Section&nbsp;14.4 shall take effect unless the Trustee shall have received an
Opinion of Counsel to the effect that any such amendment complies with this Section&nbsp;14.4. Furthermore, the Trustee shall have no liability for determinations made in good faith, upon receipt of an Officer&#146;s Certificate of the Trustor,
pursuant to this Section&nbsp;14.4. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;14.05. <U>Termination.</U> </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) This Agreement shall terminate on the date upon which the Bonds or the proceeds thereof have been distributed to the Holders of
Certificates pursuant to one or more provisions of this Agreement; and provided, further, that this Agreement shall terminate in any event: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(i) if State Partnership Factors shall have been adopted in the related Series Trust Agreement, with the consequences set forth in Section&nbsp;5.2 if an Act of Bankruptcy occurs with respect to the Tax
Responsible Partner or if the Tax Responsible Partner fails to maintain the Tax Responsible Partner&#146;s Required Controlling Interest; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(ii) upon the occurrence of the Last Designated Termination Date. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) The
discharge of any indenture or other document related to any of the Bonds will not in and of itself result in a termination of this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;14.06. <U>Section&nbsp;14.6. Severability. </U>Any provision of this Agreement that is prohibited, unenforceable or not authorized in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition, unenforceability or nonauthorization without invalidating the remaining provisions hereof or affecting the validity, enforceability or legality of such provision in any other jurisdiction. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;14.07. <U>Beneficiaries.</U> The Trust Agreement is for the benefit of Holders and Beneficial Owners of Floater Certificates
and Residual Certificates and the related Liquidity Bank and no one other than the parties thereto. The Holders and Beneficial Owners of Floater Certificates and Residual Certificates and the related Liquidity Bank shall be entitled to claim any
rights granted thereunder, or to enforce any obligation of the parties thereto arising thereunder. Notwithstanding the foregoing, the Tax Responsible Partner&#146;s liabilities, if any, pursuant to Sections 2.3(b) and (c)&nbsp;of the Agreement are
for the benefit of, and may be enforced by, any party with a claim against the Trust. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">[END OF MASTER TERMS OF TRUST AGREEMENT]
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">91 </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>EXHIBIT A </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>FORM OF FLOATER CERTIFICATE </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;), OR STATE SECURITIES LAWS. NEITHER THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR ANY INTEREST THEREIN MAY BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED
UNDER THE SECURITIES ACT PURSUANT TO REGISTRATION OR AN EXEMPTION THEREFROM. THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN OTHER RESTRICTIONS ON TRANSFER SET FORTH IN THE TRUST AGREEMENT (DEFINED BELOW), INCLUDING
PARTICULARLY SECTION 10.12 THEREOF. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">THE HOLDER OF THIS FLOATER CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE
TRANSFER SUCH FLOATER CERTIFICATE OR ANY BENEFICIAL INTEREST THEREIN, ONLY TO QUALIFIED PURCHASERS AS DEFINED IN SECTION 2(a)(51)(A) OF THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">[UNLESS THIS FLOATER CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, NEW YORK, NEW YORK (&#147;DTC&#148;), TO THE TRUSTEE OR ITS AGENT FOR REGISTRATION OF
TRANSFER OR EXCHANGE OR FOR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE&nbsp;&amp; CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE&nbsp;&amp; CO. OR TO SUCH
OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC) ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE&nbsp;&amp; CO., HAS AN INTEREST
HEREIN.] </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-1
</FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">REGISTERED NUMBER: F-- </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">CUSIP NO.: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Floater Certificates, Series [ ] </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">(&#147;Floater Certificates&#148;) </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">[TRUSTOR], SERIES [ ] </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">[Trustee], </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">as Trustee </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">(Not
an Interest in or Debt Obligation of the Trustee) </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Holder: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Stated Amount: $ </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Deposit Date: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Last Designated Termination Date: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This certificate represents ownership of the
above-described Floater Certificates and represents a beneficial ownership interest in the assets held by the [Trustee], Series [ ] (the &#147;Trust&#148;). The Trust initially holds the municipal securities (the &#147;Bonds&#148;) identified in the
Series Trust Agreement referred to below and will hold the Bonds acquired from time to time in accordance with the Trust Agreement referred to below. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Bonds are being held in trust by [Trustee], as Trustee, pursuant to the terms of a Master Terms of Trust Agreement, dated as of August&nbsp;1, 2006 (the &#147;Master Terms of Trust Agreement&#148;),
by and between [Trustor], as Trustor (&#147;the Trustor&#148;), and [Trustee], as Trustee and Tender Agent (the &#147;Trustee&#148; or &#147;Tender Agent&#148;), which supplements the Series Trust Agreement, Series. [ ], dated [
&nbsp;&nbsp;&nbsp;&nbsp;, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] (the &#147;Series Trust Agreement&#148; and, together with the Master Terms of Trust Agreement, the &#147;Trust Agreement&#148;), by and between the
Trustor and the Trustee and Tender Agent. Pursuant to the Trust Agreement, the Floater Certificates, Series [ ] (the &#147;Floater Certificates&#148;) and the Residual Certificates, Series [ ] (the &#147;Residual Certificates&#148; and, together
with the Floater Certificates, collectively, the &#147;Certificates&#148;) have been executed, registered and delivered by the Trustee. THE TERMS AND CONDITIONS OF THE TRUST AGREEMENT ARE HEREBY INCORPORATED IN THIS CERTIFICATE AS IF FULLY SET FORTH
HEREIN AND, EXCEPT AS OTHERWISE DEFINED HEREIN, ALL TERMS USED HEREIN SHALL HAVE THE MEANING ASCRIBED THERETO IN THE TRUST AGREEMENT, UNLESS THE CONTEXT HEREOF DICTATES OTHERWISE. THE HOLDER HEREOF HEREBY ASSENTS TO ALL OF THE TERMS AND PROVISIONS
OF THE TRUST AGREEMENT, A COPY OF WHICH IS AVAILABLE FOR INSPECTION AT THE CORPORATE TRUST OFFICE OF THE TRUSTEE. The Bonds to which this Floater Certificate and other Certificates relate, and payments of principal, interest and premium, if any,
with respect thereto, received by the Trustee pending their disbursement to Holders of Certificates will be held by the Trustee in trust for the benefit of Holders of Certificates. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-2
</FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The issuers (each, an &#147;Issuer&#148;) of the Bonds are not a party to the Trust
Agreement, nor does any Issuer have any obligations with respect to any aspect of the rights granted to the above-named Holder of this Floater Certificate pursuant to the Trust Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under the Trust Agreement, there shall be returned to the Holder of this Floater Certificate on the Last Designated Termination Date
specified above (or upon an earlier Designated Termination Date, an earlier redemption of the Bonds or a termination of the Trust Agreement), upon the presentation and surrender hereof at the corporate trust office of the Trustee in New York, New
York, the Stated Amount hereof; <I>provided, however, </I>that such amount shall be payable solely out of amounts received by the Trustee on account of payments of principal on the Bonds, payments under the Liquidity Facility or proceeds of sale of
the Bonds and if such payments or proceeds shall not be sufficient to enable the Trustee to return the Stated Amount hereof and the Stated Amount of all other Floater Certificates, the Trustee shall make a distribution thereof to the Holders of all
Floater Certificates in accordance with the terms of the Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">There shall also be distributed on each Floater
Certificate Interest Payment Date to the Holder of this Floater Certificate on the Regular Record Date therefor, solely from and to the extent of payments of interest on the Bonds received by the Trustee or Trustee Advances made by the Trustee in
respect thereof, interest with respect to the Stated Amount of this Floater Certificate calculated at the Floater Certificate Rate to be determined by the Remarketing Agent. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">THE BOND INTEREST PAYMENT DATES, THE FLOATER CERTIFICATE INTEREST PAYMENT DATES, THE FLOATER CERTIFICATE RATE, THE SELECTION OF THE METHOD OF DETERMINING THE FLOATER CERTIFICATE RATE, THE DATES OF PAYMENT
OF DISTRIBUTIONS OF INTEREST ON THE FLOATER CERTIFICATES AND THE PERSONS ENTITLED TO RECEIVE DISTRIBUTIONS THEREON WILL BE DETERMINED UPON THE TERMS AND CONDITIONS DESCRIBED IN THE TRUST AGREEMENT, TO WHICH AND THE PROVISIONS THEREOF SPECIFIC
REFERENCE IS HEREBY MADE. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Distributions of interest on this Floater Certificate, unless held by a Securities Depository,
shall be by check mailed to the Holder hereof at such Holder&#146;s address as it appears on the registration books maintained by the Trustee or, if requested in writing by the applicable Regular Record Date by the Holder of not less than $1,000,000
in aggregate Stated Amount of Certificates, by wire transfer. All distributions hereunder shall be made in such coin or currency of the United States of America as at the time of payment shall be legal tender for payment of public and private debts.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If a portion of the Bonds shall be called for redemption, thereby resulting in a partial redemption of the Stated Amount of
this Floater Certificate in accordance with the Trust Agreement, a new Floater Certificate in an aggregate Stated Amount equal to the unredeemed portion of the Stated Amount of this Floater Certificate will be issued to the Holder hereof upon the
surrender of this Floater Certificate to the Trustee. If less than all of the Bonds held by the Trustee are to be redeemed, the Trustee shall Select by Lot the Floater Certificate or portion thereof to which said redeemed Bonds relate. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-3
</FONT></P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">[Floater Certificates held by a Securities Depository or a nominee of a Securities
Depository shall contain the following paragraph: The Floater Certificates are being issued by means of a book-entry system with no physical distribution of Floater Certificates to be made except as provided in the Trust Agreement. One or more
Floater Certificates with respect to each series of Floater Certificates, registered in the name of a nominee of the Securities Depository (the &#147;Securities Depository Nominee&#148;), shall be issued and required to be deposited with the
Securities Depository and immobilized in its custody. The book-entry system will evidence positions held in the Floater Certificates by the Securities Depository&#146;s participants, beneficial ownership of the Floater Certificates in Authorized
Denominations thereof being evidenced in the records of such participants. Transfers of ownership shall be effected on the records of the Securities Depository and its participants pursuant to rules and procedures established by the Securities
Depository and its participants. Except as otherwise provided in the Trust Agreement, the Trustee will recognize the Securities Depository Nominee, while the Holder of this Floater Certificate, as the owner of this Floater Certificate for all
purposes, including (i)&nbsp;distributions on this Floater Certificate on account of payments of principal of and interest on the Bonds, (ii)&nbsp;notices and (iii)&nbsp;voting. Transfer of amounts distributed with respect to Floater Certificates to
participants of the Securities Depository, and transfer of amounts distributed with respect to Floater Certificates to Beneficial Owners of the Floater Certificates by participants of the Securities Depository, will be the responsibility of such
participants and other nominees of such Beneficial Owners. The Trustee will not be responsible or liable for such transfers or distributions or for maintaining, supervising or reviewing the records maintained by the Securities Depository, the
Securities Depository Nominee, its participants or Persons acting through such participants. While the Securities Depository Nominee is the Holder of this Floater Certificate, notwithstanding the provisions hereinabove contained, payments of
distributions with respect to this Floater Certificate shall be made in accordance with existing arrangements between the Trustee or its successors under the Trust Agreement and the Securities Depository.] </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">All payments of principal of and interest and premium, if any, on the Bonds received by the Trustee shall be distributed by the Trustee
to the Holders of the Certificates in accordance with the terms of the Trust Agreement after the Trustee shall have made the deductions for Trustee Fee permitted by the Trust Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This Floater Certificate further evidences the right of the Holder of this Floater Certificate to exercise the Tender Option with respect
thereto by tendering such Floater Certificates for purchase pursuant to, at the times, for the Purchase Price and under the conditions set forth in the Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Upon the occurrence of a Tender Option Termination Event, the Tender Option with respect to this Floater Certificate shall terminate without prior notice to the Holder hereof. The Bonds either shall be
sold and the proceeds distributed to Holders of the Certificates or shall be distributed in kind for the benefit of the Floater Certificate Holders, all pursuant to and under the conditions set forth in the Trust Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Upon the occurrence of a Mandatory Tender Event, this Floater Certificate shall be subject to mandatory tender for purchase pursuant to,
at the times, for the Purchase Price and under the conditions set forth in the Trust Agreement. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-4
</FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This Floater Certificate may be exchanged, at the option of the Holder hereof, for one or
more Floater Certificates evidencing an undivided ownership interest of an aggregate principal amount of Bonds equal to the Stated Amount of this Floater Certificate in any Authorized Denomination at the corporate trust office of the Trustee in New
York, New York, in the manner and subject to the limitations and conditions provided in the Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The transfer of
this Floater Certificate is registrable on the transfer books of the Trustee maintained for registration of transfer by the Holder hereof or such Holder&#146;s duly authorized attorney, in the manner and subject to the limitations and conditions
provided in the Trust Agreement. Upon surrender for registration of transfer of this Floater Certificate at the corporate trust office of the Trustee in New York, New York, the Trustee shall execute and deliver, in the name of the transferee or
transferees, one or more Floater Certificates, as the case may be, evidencing an undivided ownership interest of an aggregate principal amount of Bonds equal to the Stated Amount of this Floater Certificate, in any Authorized Denomination or
Denominations. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Trustee may treat the Person in whose name this Floater Certificate is registered as the owner hereof for
the purpose of making payments of distributions hereon. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Trust shall make an election under Revenue Procedure 2003-84,
effective as of the later of the date the Trust has more than one owner for tax purposes and the date the Trust has more than a <I>de minimis </I>amount of assets. This election is binding on all present and future Holders of the Certificates,
Beneficial Owners of Certificates, and other persons treated as partners in the Trust for federal income tax purposes and each of their nominees (each, a &#147;Partner&#148; for this purpose) and each Partner, by acceptance of its Certificates or
interest therein, is deemed to consent to this election. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Trustee assumes no obligation nor shall it be subject to any
liability to the Holder of this Floater Certificate other than as specifically set forth herein and in the Trust Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This Floater Certificate shall not be valid or become obligatory for any purpose unless and until duly executed by the Trustee.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The terms and provisions of this Floater Certificate will be governed by the laws of the State of New York. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-5
</FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">IN WITNESS WHEREOF, the Trustee has caused this Floater Certificate to be executed in its
name by the manual signature of an authorized signatory thereof as of the date set forth below. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date Issued:
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[TRUSTEE]</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;, as</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;Trustee</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">SEAL</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Authorized Signatory</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">ATTEST:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Authorized Signatory</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
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</TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-6
</FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">ASSIGNMENT </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">FOR VALUE RECEIVED, the undersigned does hereby sell, assign and transfer unto </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="line-height:0px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">(Name, Address and Taxpayer
Identification Number of Assignee) </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">all its right, title and interest in and to the within certificate and hereby irrevocably constitutes and
appoints&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U></U>attorney to register the transfer of the within certificate on the books kept for the registration thereof, with
full power of substitution in the premises. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dated:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Signature:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></P></TD></TR>
<TR>
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Signature(s) Guaranteed:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD COLSPAN="3" VALIGN="top"> <P STYLE="border-bottom:1px solid #000000">&nbsp;</P></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="font-size:10px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Notice: Signature(s) must be guaranteed by an
&#147;eligible guarantor institution&#148; meeting the requirements of the Trustee, which requirements include membership or participation in STAMP or such other &#147;signature guarantee program&#148; as may be determined by the Trustee in addition
to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-7
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>FORM OF TENDER NOTICE </U></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">NOTICE OF DEMAND FOR PURCHASE OF FLOATER CERTIFICATES </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">[Placement and Remarketing </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;Entity] as Remarketing Agent </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ] </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ] </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[Trustee],
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;as Tender Agent </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The
undersigned (the &#147;Tendering Party&#148;) is the owner of [a beneficial interest in] the Stated Amount of $ of Floater Certificates, Series [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] (the &#147;Floater
Certificates&#148;) issued pursuant to the Series Trust Agreement, dated [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] (the &#147;Series Trust
Agreement&#148;), by and between [Trustor], as Trustor (&#147;the Trustor&#148;), and [Trustee], as Trustee and Tender Agent (the &#147;Trustee&#148; or &#147;Tender Agent&#148;), which includes as an exhibit thereto the Master Terms of Trust
Agreement, dated as of August&nbsp;1, 2006 (the &#147;Master Terms of Trust Agreement&#148; and, together with the Series Trust Agreement, the &#147;Trust Agreement&#148;), which Floater Certificates evidence beneficial ownership of certain Bonds
under the Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Terms used herein and not otherwise defined herein shall have the meanings assigned to them in the
Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Tendering Party hereby irrevocably exercises the Tender Option with respect to the foregoing Stated
Amount of such Tendering Party&#146;s [beneficial interest in] Floater Certificates pursuant to the Trust Agreement, and demands payment of the Purchase Price therefor, which shall be said Stated Amount <I>plus </I>accrued and unpaid interest
thereon at the Floater Certificate Rate from the date to which interest has been paid or if no interest payment has been made from the date of issuance of the Floater Certificates to the Optional Tender Date of
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. Said Stated Amount is in an Authorized Denomination. Payment shall be made on such Optional Tender
Date, which is, [if the Rate Mode is the Daily Mode, a Business Day not earlier than the Business Day on which the Tender Agent and the Remarketing Agent receive this Tender Notice by 10:30 a.m.] [if the Rate Mode is the Weekly Mode, a Business Day
not earlier than seven calendar days after the day of receipt of this Tender Notice by the Tender Agent and the Remarketing Agent by 3:00 p.m.] [if the Rate Mode is the Monthly Mode, the day that is the first Business Day of the next succeeding
calendar month that is not earlier than the fifth Business Day after receipt of this Tender Notice by the Tender Agent and the Remarketing Agent by 3:00 p.m.] [if the Rate Mode is the Term Mode with Term Periods of 30 days or less, the day that is
the first Business Day of a Term Period not earlier than the Business Day following the Business Day notice is received by the Tender Agent and the Remarketing Agent by 3:00 p.m.] Such payment shall be made [in accordance with DTC procedures
outlined in Section&nbsp;10.11 of the Trust Agreement] [by wire transfer of immediately available funds to Account No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; at&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ]. </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-8
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Delivery of this Tender Notice shall be made in person or by registered or certified mail,
return receipt requested, to the address of the Tender Agent and the Remarketing Agent set forth above and shall occur upon receipt thereof by the Tender Agent and the Remarketing Agent. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Tendering Party understands that the obligation to purchase the [beneficial interest in the] Floater Certificates is subject to the
additional condition that, as of the Optional Tender Date, there shall not have occurred a Tender Option Termination Event and neither the Last Designated Termination Date nor the Scheduled Expiration Date shall have occurred. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This Tender Notice is irrevocable. [The Tendering Party irrevocably agrees to cause the transfer of the Floater Certificates being
tendered [through the facilities of The Depository Trust Company] to the Remarketing Agent or its designee against payment on the Optional Tender Date.] </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="94%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date:&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="93%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Address:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="91%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Facsimile:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="86%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">DTC&nbsp;Participant:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="91%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Signature:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="19%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="79%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Signature&nbsp;Guaranteed&nbsp;By:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">The name and address here must correspond in every particular to those set forth on the [records of the DTC Participant] [register kept by the Trustee].</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">GUARANTY OF SIGNATURE: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Notice: The signature to any endorsement hereon must correspond with the name as written upon the face of this Floater Certificate in every particular, without alteration or enlargement or any change
whatever. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">If the endorsement be executed by an attorney, executor, administrator, trustee or guardian, the Person executing the endorsement
must give his or her full title in such capacity and proper evidence of authority to act in such capacity, if not on file with the Trustee, must be forwarded with this Floater Certificate. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-9
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">All endorsements or assignments of Floater Certificates must be guaranteed by an &#147;eligible guarantor
institution&#148; (including, but not limited to, a New York Stock Exchange member firm or member of the Clearing House of the American Stock Exchange Clearing Corporation or by a bank or trust company having an office or correspondent in The City
of New York) meeting the requirements of the Trustee, which requirements include membership or participation in STAMP or such other &#147;signature guarantee program&#148; as may be determined by the Trustee in addition to, or in substitution for,
STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-10
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>EXHIBIT B </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>FORM OF RESIDUAL CERTIFICATE </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;), OR STATE SECURITIES LAWS. NEITHER THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR ANY INTEREST THEREIN MAY BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED
UNDER THE SECURITIES ACT PURSUANT TO REGISTRATION OR AN EXEMPTION THEREFROM. THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN OTHER RESTRICTIONS ON TRANSFER SET FORTH IN THE TRUST AGREEMENT (DEFINED BELOW), INCLUDING
PARTICULARLY SECTION 10.12 THEREOF AND THE REQUIREMENT THAT AT ANY ONE TIME THERE MAY BE ONLY ONE HOLDER OF RESIDUAL CERTIFICATES. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">THE HOLDER
OF THIS RESIDUAL CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH RESIDUAL CERTIFICATE OR ANY BENEFICIAL INTEREST THEREIN, ONLY TO QUALIFIED PURCHASERS AS DEFINED IN SECTION 2(a)(51)(A) OF THE INVESTMENT COMPANY
ACT OF 1940, AS AMENDED. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[UNLESS THIS RESIDUAL CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, NEW
YORK, NEW YORK (&#147;DTC&#148;), TO THE TRUSTEE OR ITS AGENT FOR REGISTRATION OF TRANSFER OR EXCHANGE OR FOR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE&nbsp;&amp; CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE&nbsp;&amp; CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC) ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL,
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE&nbsp;&amp; CO., HAS AN INTEREST HEREIN.] </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">B-1
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">REGISTERED NUMBER: R-- </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">CUSIP NO.: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Residual Certificates, Series
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ] </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px;padding-bottom:0px;" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">(&#147;Residual
Certificates</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">SM</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">&#148;) </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">[TRUSTOR], SERIES [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">[Trustee], </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">as
Trustee </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">(Not an Interest in or Debt Obligation of the Trustee) </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Holder: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Stated Amount: $ </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Deposit Date: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Related Designated Termination Date: </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This certificate represents ownership of the above-described Residual Certificates and represents a beneficial ownership interest in the
assets held by the RBC Municipal Products, Inc. Trust, Series [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ] (the &#147;Trust&#148;). The Trust initially holds the municipal securities (the &#147;Bonds&#148;) identified
in the Series Trust Agreement referred to below and will hold the Bonds acquired from time to time in accordance with the Trust Agreement referred to below. This Residual Certificate represents a beneficial ownership interest in a particular
Maturity of Bonds held in the Trust. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Bonds are being held in trust by [Trustee], as Trustee, pursuant to the Series Trust
Agreement, Series [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], dated [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
] (the &#147;Series Trust Agreement&#148;), by and between [Trustor], as Trustor (&#147;the Trustor&#148;), and [Trustee], as Trustee and Tender Agent (the &#147;Trustee&#148; or &#147;Tender Agent&#148;), which includes as an exhibit thereto the
Master Terms of Trust Agreement, dated as of August&nbsp;1, 2006 (the &#147;Master Terms of Trust Agreement&#148; and together with the Series Trust Agreement, the &#147;Trust Agreement&#148;), by and between the Trustor and the Trustee and Tender
Agent. Pursuant to the Trust Agreement, the Floater Certificates, Series [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] (the &#147;Floater Certificates&#148;) and the Residual Certificates, Series [ ] (the &#147;Residual
Certificates&#148; and, together with the Floater Certificates, collectively, the &#147;Certificates&#148;) have been executed, registered and delivered by the Trustee. THE TERMS AND CONDITIONS OF THE TRUST AGREEMENT ARE HEREBY INCORPORATED IN THIS
CERTIFICATE AS IF FULLY SET FORTH HEREIN AND, EXCEPT AS OTHERWISE DEFINED HEREIN, ALL TERMS USED HEREIN SHALL HAVE THE MEANING ASCRIBED THERETO IN THE TRUST AGREEMENT, UNLESS THE CONTEXT HEREOF DICTATES OTHERWISE. THE HOLDER HEREOF HEREBY ASSENTS TO
ALL OF THE TERMS AND PROVISIONS OF THE TRUST AGREEMENT, A COPY OF WHICH IS AVAILABLE FOR INSPECTION AT THE CORPORATE TRUST OFFICE OF THE TRUSTEE. The Bonds to which this Residual Certificate and other Certificates relate, and payments of principal,
interest and premium, if any, with respect thereto, received by the Trustee pending their disbursement to Holders of Certificates will be held by the Trustee in trust for the benefit of Holders of Certificates. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">B-2
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The issuers (each, an &#147;Issuer&#148;) of the Bonds are not a party to the Trust
Agreement, nor does any Issuer have any obligations with respect to any aspect of the rights granted to the above-named Holder of this Residual Certificate pursuant to the Trust Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under the Trust Agreement, there shall be returned to the Holder of this Residual Certificate on the Designated Termination Date
specified above (or upon an earlier redemption of the Bonds of the Related Maturity or a termination of the Trust Agreement), upon the presentation and surrender hereof at the Corporate Trust Office of the Trustee in New York, New York, an amount
equal to the principal amount of the Bonds of such Maturity that remains after the Trustee deducts therefrom principal in an amount equal to the Stated Amount of the Related Floater Certificates; <I>provided, however, </I>that such amount shall be
payable solely out of amounts received by the Trustee on account of payments of principal of the Related Maturity of Bonds or proceeds of the sale of such Maturity. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">There shall also be distributed on or immediately after each Bond Interest Payment Date to the Holder of this Residual Certificate on the Regular Record Date therefor, solely from and to the extent of
payments of interest on the Related Maturity of Bonds received by the Trustee, interest in the amount of the interest on the Bonds of such Maturity received by the Trustee that remains after the Trustee deducts therefrom (i)&nbsp;the allocable part
of the Trustee Fee, (ii)&nbsp;the allocable part of the Remarketing and Liquidity Charges and (iii)&nbsp;interest on the Related Floater Certificates. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">THE AMOUNTS OF INTEREST PAYABLE WITH RESPECT TO THE FLOATER CERTIFICATES AND THE RESIDUAL CERTIFICATES WILL BE DETERMINED UPON THE TERMS AND CONDITIONS DESCRIBED IN THE TRUST AGREEMENT, TO WHICH AND THE
PROVISIONS THEREOF SPECIFIC REFERENCE IS HEREBY MADE. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Distributions of interest on this Residual Certificate shall be by
check mailed to the Holder hereof at such Holder&#146;s address as it appears on the registration books maintained by the Trustee or, if requested in writing by the applicable Regular Record Date by the Holder of not less than $1,000,000 in
aggregate Stated Amount of Certificates, by wire transfer. All distributions hereunder shall be made in such coin or currency of the United States of America as at the time of payment shall be legal tender for payment of public and private debts.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If a portion of the Related Maturity of Bonds shall be called for redemption, thereby resulting in a partial payment of the
Stated Amount of this Residual Certificate in accordance with the Trust Agreement, a new Residual Certificates in a Stated Amount equal to the unpaid portion of the Stated Amount of this Residual Certificate shall be issued to the Holder hereof upon
the surrender of this Residual Certificate to the Trustee. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">B-3
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">[Residual Certificates held by a Securities Depository or a nominee of a Securities
Depository, other than a Securities Depository acting merely as a custodian, shall contain the following paragraph: The Residual Certificates are being issued by means of a book-entry system with no physical distribution of Residual Certificates to
be made except as provided in the Trust Agreement. One or more Residual Certificates (each identified with a particular Maturity of Bonds held in the Trust) registered in the name of a nominee of the Securities Depository (the &#147;Securities
Depository Nominee&#148;), shall be issued and are required to be deposited with the Securities Depository and immobilized in its custody. The book-entry system will evidence positions held in the Residual Certificates by the Securities
Depository&#146;s participants, beneficial ownership of the Residual Certificates in Authorized Denominations thereof being evidenced in the records of such participants. Transfers of ownership shall be effected on the records of the Securities
Depository and its participants pursuant to rules and procedures established by the Securities Depository and its participants. The Trustee will recognize the Securities Depository Nominee, while the Holder of this Residual Certificate, as the owner
of this Residual Certificate for all purposes, including (i)&nbsp;distributions on this Residual Certificate on account of payments of principal of and interest and premium, if any, on the Bonds, (ii)&nbsp;notices and (iii)&nbsp;voting. Transfer of
amounts distributed with respect to Residual Certificates to participants of the Securities Depository, and transfer of amounts distributed with respect to Residual Certificates to Beneficial Owners of the Residual Certificates by participants of
the Securities Depository, will be the responsibility of such participants and other nominees of such Beneficial Owners. The Trustee will not be responsible or liable for such transfers or distributions or for maintaining, supervising or reviewing
the records maintained by the Securities Depository, or any other nominee thereof, its participants or Persons acting through such participants. While the Securities Depository Nominee is the Holder of this Residual Certificate, notwithstanding the
provisions hereinabove contained, payments of distributions with respect to this Residual Certificate shall be made in accordance with existing arrangements between the Trustee or its successors under the Trust Agreement and the Securities
Depository.] </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">All payments of principal of and interest and premium, if any, on any Maturity of Bonds received by the Trustee
shall be distributed by the Trustee to the Holders Certificates in accordance with the terms of the Trust Agreement after the Trustee shall have made the deductions for Trustee Fee and Remarketing and Liquidity Charges permitted by the Trust
Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This Residual Certificate may be exchanged, at the option of the Holder hereof, for one or more Residual
Certificates evidencing an undivided ownership interest of an aggregate principal amount of the Related Maturity of Bonds equal to the Stated Amount of this Residual Certificate in any Authorized Denomination at the Corporate Trust Office of the
Trustee in New York, New York, in the manner and subject to the limitations and conditions provided in the Trust Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The transfer of this Residual Certificate is registrable on the transfer books of the Trustee maintained for registration of transfer, by
the Holder hereof or such Holder&#146;s duly authorized attorney, in the manner and subject to the limitations and conditions provided in the Trust Agreement. Upon surrender for registration of transfer of this Residual Certificate at the Corporate
Trust Office of the Trustee in New York, New York, the Trustee shall execute and deliver, in the name of the transferee or transferees, one or more Residual Certificates, as the case may be, evidencing an undivided ownership interest of an aggregate
principal amount of the Related Maturity of Bonds equal to the Stated Amount of this Residual Certificate, in any Authorized Denomination or Denominations. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">B-4
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Trustee may treat the Person in whose name this Residual Certificate is registered as
the owner hereof for the purpose of making payments of distributions hereon. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Trust shall make an election under Revenue
Procedure 2003-84, effective as of the later of the date the Trust has more than one owner for tax purposes and the date the Trust has more than a <I>de minimis </I>amount of assets. This election is binding on all present and future Holders of the
Certificates, Beneficial Owners of Certificates, and other persons treated as partners in the Trust for federal income tax purposes and each of their nominees (each, a &#147;Partner&#148; for this purpose) and each Partner, by acceptance of its
Certificates or interest therein, is deemed to consent to this election. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Trustee assumes no obligation nor shall it be
subject to any liability to the Holder of this Residual Certificate other than as specifically set forth herein and in the Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">This Residual Certificate shall not be valid or become obligatory for any purpose unless and until duly executed by the Trustee. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The terms and provisions of this Residual Certificate will be governed by the laws of the State of State of New York. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">B-5
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">IN WITNESS WHEREOF, the Trustee has caused this Residual Certificate to be executed in its
name by the manual signature of an authorized signatory thereof as of the date set forth below. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date Issued: [
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="46%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="45%"></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">[TRUSTEE], as Trustee</FONT></TD></TR>


<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">SEAL</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Authorized Signatory</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">ATTEST:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD COLSPAN="3" VALIGN="top"></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD COLSPAN="3" VALIGN="top"></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Authorized Signatory</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD COLSPAN="3" VALIGN="top"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">B-6
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">ASSIGNMENT </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">FOR VALUE RECEIVED, the undersigned does hereby sell, assign and transfer unto </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="line-height:0px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">(Name, Address and Taxpayer
Identification Number of Assignee) </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">all its right, title and interest in and to the within certificate and hereby irrevocably constitutes and
appoints <U></U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;attorney to register the transfer of the within certificate on the books kept for the registration thereof, with full power of substitution in the premises.
</FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="43%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="42%"></TD></TR>


<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dated:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Signature:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></P></TD></TR>
<TR>
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Signature(s) Guaranteed:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD COLSPAN="3" VALIGN="top"> <P STYLE="border-bottom:1px solid #000000">&nbsp;</P></TD></TR>
<TR>
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Notice: Signature(s) must be guaranteed by an &#147;eligible guarantor institution&#148; meeting the requirements of the Trustee, which requirements include membership
or participation in STAMP or such other &#147;signature guarantee program&#148; as may be determined by the Trustee in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Notice: The signature on this assignment must correspond with the name as written upon the face of this certificate in every particular, without alteration or
enlargement or any change whatsoever.</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">B-7
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>EXHIBIT C </B></FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>FORM OF ADDITIONAL DEPOSIT NOTICE </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Floater Certificates Series </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(&#147;Floater Certificates&#148;) </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Residual Certificates Series </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(&#147;Residual Certificates&#148;) </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ADDITIONAL DEPOSIT NOTICE </B></FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Depository Trust </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Company 55 Water Street, </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">19th Floor New York, </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York 10041 </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[Placement and Remarketing </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;Entity]
as Remarketing Agent </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">[Trustee], </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;as Tender Agent </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Ladies and Gentlemen: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">A.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">The undersigned hereby advises you that: </FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(1) It is hereby exercising its right pursuant to Section&nbsp;6.1 of the Trust Agreement to transfer or cause to be transferred to the Trust the following Bonds: </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) [Name of the Bonds] </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(b) [Name of the Issuer] </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) [Principal Credit Source, if any] </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) [Disclose if Prerefunded Bonds, as of the Additional Deposit Date] </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">C-1
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) [Principal amount of the Bonds] </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(f) [Accrued Interest on Bonds] to be paid to [Beneficial Owner of the Related Residual Certificate]/[Name of such other party]
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(g) [Bond Base Price] </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(2) It hereby certifies that the Bonds satisfy the Bond Criteria and that the sum of the Related Stated Amount of Floater Certificates of such Maturity and the Stated Amount of Related Residual
Certificates of such Maturity will not exceed the Bond Base Price of such Maturity of Bonds as of the Additional Deposit Date. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(3) It hereby reaffirms the representations and warranties set forth in Section&nbsp;6.1(b) of the Trust Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(4) It hereby directs the Trustee to execute and deliver additional Floater Certificates pursuant to Section&nbsp;10.8(c), as follows:
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) [Stated Amount of Floater Certificates] </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(b) [Delivery instructions with respect to Floater Certificates] </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(5) The
Liquidity Bank has consented to an appropriate increase in the Amount Available with respect to the related Liquidity Facility. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(6) It hereby certifies that it will seek confirmation from each Floater Certificate Rating Agency that the ratings of such Floater
Certificate Rating Agency on the Floater Certificates will not, as a result of such transfer of additional Bonds and issuance of additional Floater Certificates, be withdrawn or reduced below the rating prior to such transfer and issuance.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">[(7) [If Proportionality and/or the State Partnership Factors have been adopted in the related Series Trust Agreement:] It
hereby directs to the Trustee to execute and deliver additional Residual Certificates pursuant to Section&nbsp;10.8(c), as follows: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(a) [Stated Amount of Residual Certificates, by Maturity] </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) [Delivery
instructions with respect to Residual Certificates] </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">[(8) [If a Premium Funded Series:] Attached as Schedule I is a revised
Amortization Schedule of Base Prices.] </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">B. The undersigned hereby sells, assigns, transfers, and otherwise conveys or causes
to be sold, assigned, transferred and otherwise conveyed to the Trustee on [specify date], without recourse except as expressly provided in the Agreement, the Bonds described in (A)&nbsp;above. The purchase price for such Bonds shall be the
Certificates described in (A)&nbsp;above. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">C-2
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">All capitalized terms used herein shall have the meanings assigned to them in the Trust
Agreement relating to the Floater Certificates and the Residual Certificates. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">[TRUSTOR] as Trustor</FONT></TD></TR>


<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></P></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></P></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">C-3
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>EXHIBIT D </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>FORM OF WITHDRAWAL REQUEST </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Floater Certificates Series </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(&#147;Floater Certificates&#148;) </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Residual Certificates Series </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(&#147;Residual Certificates&#148;) </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>WITHDRAWAL REQUEST </B></FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
 </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Depository Trust Company </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">55
Water Street, 19th Floor </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">New York, New York 10041 </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">[Placement and Remarketing </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;Entity] as Remarketing Agent </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[Trustee], </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;as Tender Agent </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Ladies and Gentlemen:
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The undersigned hereby advises you that: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(1) It is the Holder or Beneficial Owner of 100% of the Stated Amount of the above-referenced Residual Certificates and is also the Holder or Beneficial Owner of $ Stated Amount of the above-referenced
Floater Certificates. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2) It is hereby exercising its right pursuant to Section&nbsp;6.2(a) of the Trust Agreement to obtain
delivery of $ principal amount of Bonds of the following Maturity: [specify:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]. This amount represents the same proportionate
share of the total principal amount of the Bonds of such Maturity [as such Stated Amount of such Floater Certificates represents of the Related Stated Amount of Floater Certificates of such Maturity] [as such Stated Amount of such Floater
Certificates <I>plus </I>such Stated Amount of such Related Residual Certificates represents of the Related Stated Amount of Certificates of such Maturity]. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">D-1
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(3) It has caused the applicable Securities Depository to deliver such Floater Certificates
[and Related Residual Certificates] to the Trustee or to the account of the Trustee at such Securities Depositories pursuant to Section&nbsp;6.2(a) of the Trust Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(4) It agrees to pay to the Trustee any accrued and unpaid taxes or other governmental or Securities Depository charges, Trustee Fee, Trustee Advances and Remarketing and Liquidity Charges allocable to
the Stated Amount of Certificates so delivered. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Upon receipt by the Trustee of payment by the undersigned of the charges
described in item (4)&nbsp;above, the Trustee is hereby requested to cause the applicable Securities Depository to deliver the principal amount of Bonds indicated above to the undersigned. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">All capitalized terms used herein shall have the meanings assigned to them in the Trust Agreement relating to the Floater Certificates
and the Residual Certificates. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="86%"></TD></TR>


<TR>
<TD VALIGN="top" COLSPAN="5"><FONT STYLE="font-family:Times New Roman" SIZE="2">[NAME OF RESIDUAL CERTIFICATE HOLDER]</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top">
<P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;
</FONT></P></TD></TR></TABLE></DIV> <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="39%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="59%"></TD></TR>

<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">DTC&nbsp;Participant&nbsp;No.:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Telephone No.:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">D-2
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>EXHIBIT E </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>FORM OF DEMAND FOR </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>MANDATORY TENDER OF FLOATER CERTIFICATES
</B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">$<U></U> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Floater&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certificates Series </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">(&#147;Floater Certificates&#148;) </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">$<U></U> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Residual Certificates </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Series </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">(&#147;Residual Certificates&#148;) </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>DEMAND FOR MANDATORY </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>TENDER OF FLOATER CERTIFICATES </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:54%; text-indent:-2%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;</U> <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>,<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Depository Trust </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Company 55 Water Street, </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">19th Floor New York, New </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">York 10041 </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[Placement and Remarketing </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;Entity]
as Remarketing Agent </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[Trustee], </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;as Tender
Agent </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[] </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[] </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Ladies and Gentlemen: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The
undersigned hereby advises you that it is the Holder of 100% of the Stated Amount of the above-referenced Residual Certificates and that it hereby exercises its right pursuant to Section&nbsp;6.4 of the Trust Agreement to purchase
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stated Amount of the above-referenced Floater Certificates on&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. The undersigned hereby agrees to
[withdraw a proportionate share of the Bonds of the designated Maturity pursuant to Section&nbsp;6.2 of the Trust Agreement equal to the proportionate share of the Related Stated Amount of Floater Certificates of such Maturity represented by the
Floater Certificates subject to tender] [direct the Trustee to execute and deliver a Stated Amount of additional Related Residual Certificates equal to the Stated Amount of such Floater Certificates pursuant to Section&nbsp;6.3(a) and (b)].
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">E-1
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">All capitalized terms used herein shall have the meanings assigned to them in the Trust
Agreement relating to the Floater Certificates and the Residual Certificates. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="91%"></TD></TR>


<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">[NAME OF RESIDUAL CERTIFICATE HOLDER]</FONT></TD></TR>
<TR>
<TD HEIGHT="24"></TD>
<TD HEIGHT="24" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3">
<P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">DTC&nbsp;Participant&nbsp;No.:<U></U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3">
<P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Telephone&nbsp;No.:<U></U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">E-2
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>EXHIBIT F </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>FORM OF PURCHASER LETTER </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Floater </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certificates Series
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Residual Certificates </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Series&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:54%; text-indent:-2%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> ,<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[Placement and Remarketing
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;Entity] as Remarketing Agent </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">[Trustee], </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;as Trustee and Tender Agent </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[] </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[] </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Re: RBC Municipal Floater Certificates </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>RBC Municipal Residual Certificates</U> </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Ladies and Gentlemen: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">1. This Purchaser Letter applies to privately offered trust
certificates designated as a series (each, a &#147;Series&#148;) of RBC Municipal Floater Certificates (&#147;Floater Certificates&#148;) or RBC Municipal Residual Certificates (&#147;Residual Certificates&#148; and, together with Floater
Certificates, the &#147;Certificates&#148;) that are currently being offered or that may be offered in the future. This Purchaser Letter supersedes all Purchaser Letters that we have delivered relating to any prior purchases or transfers of any
Series of Certificates, and applies to all prior, current and future purchases and transfers of Certificates as of and from the date hereof. The terminology used herein is intended to be general in its application and not to exclude any Certificates
of any Series in respect of which alternative terminology may be used. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">2. The undersigned (hereinafter &#147;we&#148; or the
&#147;Undersigned,&#148; with &#147;us&#148; and &#147;our&#148; having meanings correlative thereto) has purchased Certificates and may in the future, either pursuant to remarketing or upon original issuance, purchase Certificates. All Certificates
currently Outstanding have been described in a Private Placement Memorandum, supplemented by a Private Placement Memorandum Supplement relating to a specific Series of Certificates (as so supplemented, with respect to each such Series, collectively,
the &#147;PPM&#148;). Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the PPM. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-1
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">3. We covenant and agree as follows: </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">A. This Purchaser Letter shall apply to all transfers by us of Certificates and beneficial interests in Certificates, including sales of
and offers to sell Certificates and any other disposition of Certificates (each, a &#147;Transfer&#148; and, collectively, &#147;Transfers,&#148; with &#147;Transferee&#148; and &#147;to Transfer&#148; having meanings correlative thereto).
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">B. Transfers of Certificates by us shall be made only in the Authorized Denominations set forth in the PPM related to such
Certificates. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">C. We will Transfer any Certificates held by us from time to time subject to the restrictions imposed by the
Trust Agreement, including the restriction that we shall not Transfer the Certificates to a person who we know is a resident of Canada, and any other transfer restrictions or other related procedures described in the PPM. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">D. We will make Transfers only to a Transferee that has signed and delivered to the Remarketing Agent a Purchaser Letter in form and
substance substantially identical to this Purchaser Letter. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">E. We shall advise the Remarketing Agent of each Transfer and the
identity of each Transferee. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">F. We understand that a restrictive legend will be placed on the Certificates. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">4. We authorize and instruct our DTC Participant to disclose to the Trustee or the Remarketing Agent such information concerning our
Beneficial Ownership of Certificates as such party shall request. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">5. This Purchaser Letter is not a commitment by us to
purchase any Certificates. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">6. We represent and agree as follows: </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">A. We understand and expressly acknowledge that the Certificates have not been and will not be registered under the Securities Act of
1933, as amended (the &#147;Securities Act&#148;), or any applicable state securities laws, and accordingly, that the Certificates may not be Transferred, pledged or hypothecated unless an applicable exemption from the registration requirements of
the Securities Act and any applicable state securities laws is available. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">B. We understand and expressly acknowledge that the
Trust is not registered as an investment company under the Investment Company Act of 1940, as amended (the &#147;Investment Company Act&#148;), but that the Trust is exempt from registration as such by virtue of Section&nbsp;3(c)(7) of the
Investment Company Act, which in general excludes from the definition of an investment company any issuer, the outstanding securities of which are owned exclusively by persons who, at the time of acquisition of such securities, are &#147;qualified
purchasers&#148; (each, a &#147;QP&#148;) as defined in Section&nbsp;2(a)(51)(A) of the Investment Company Act and regulations thereunder, which issuer is not making and does not at that time propose to make a public offering of such securities.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">C. We were not formed solely to acquire the Certificates or the Certificates of any particular Series and are not an
investment company (or other entity) relying on Section&nbsp;3(c)(1) of the Investment Company Act for exemption from registration thereunder. We understand that we may not transfer or otherwise dispose of any Certificates except to a transferee who
provides a written certificate to similar effect to the Remarketing Agent. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-2
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">D. We hereby confirm that all prior and current purchases of Certificates by us have been,
and any future purchases of Certificates by us will be, for our own account, and not with a view to any public resale or distribution thereof. We represent that we will at all times prior to the transfer by us of any Certificates remain the sole
Beneficial Owner of such Certificates. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">E. We are (i)&nbsp;an &#147;accredited investor&#148; within the meaning of Rule
501(a) of Regulation D under the Securities Act or a &#147;qualified institutional buyer&#148; as defined in Rule 144A under the Securities Act, and (ii)&nbsp;a QP with respect to the Certificates purchased or to be purchased by us. We have such
knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment in the Certificates and are able and prepared to bear the economic risk of investing in and holding such Certificates.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">F. Neither we nor anyone acting on our behalf has offered or sold or will offer or sell any Certificates by means of any form
of general solicitation or general advertising or has taken or will take any action that would constitute a distribution of Certificates under the Securities Act, would render the disposition of Certificates a violation of Section&nbsp;5 of the
Securities Act or any state or other securities law or would require registration or qualification pursuant thereto. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">G. We
have received or expect to receive a copy of the PPM relating to the Certificates, and to the extent that we have required or will require additional documents or information concerning the Certificates or the Bonds underlying the Certificates, in
addition to the PPM, we have obtained or will request and obtain such other documents or information. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">7. With respect to each
Trust: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">A. For ourselves and for each present and future Beneficial Owner of Certificates purchased by us, we acknowledge and
agree that (a)&nbsp;absent a change in law or written request of a taxing authority, we will treat the Trust as a partnership for federal income tax purposes and any other purpose that conforms to federal and (where relevant) state and local income
tax law (but for no other purpose) and ourselves as partners therein and (b)&nbsp;no election under Section&nbsp;761 of the Code will be made to exclude the Trust from the application of all or part of the provisions of Subchapter K of the Code;
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">B. We consent to the Trust&#146;s making a Monthly Closing Election under Revenue Procedure 2003-84. We acknowledge that this
election is binding on all present and future Holders of Certificates, Beneficial Owners, and other persons treated as partners in the Trust for federal income tax purposes and each of their nominees. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">C. We consent to the Trust&#146;s obtaining an employer identification number and to the authorization of the Trustee, the Trustor, and
each of their accountants to obtain such number on behalf of the Trust and to the delegation of such authority to their respective agents. We hereby appoint the Trustee, the Trustor, and each of their accountants as our agent and attorney-in-fact
for the purpose of obtaining such number. This appointment is coupled with an interest and is irrevocable. We shall take any reasonably requested action that is necessary to codify, ratify or otherwise further this appointment. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-3
</FONT></P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">D. We consent to the Trust&#146;s filing an abbreviated Form 1065, &#147;U.S. Return of
Partnership Income,&#148; as required by and in the format outlined in section 8.01 of Revenue Procedure 2003-84, and to the authorization of the Trustee, the Trustor, and each of their accountants to sign the abbreviated return, and to the
delegation of such authority to their respective agents. We hereby appoint the Trustee, the Trustor, and each of their accountants as our agent and attorney-in-fact for the purpose of filing the abbreviated Form 1065. This appointment is coupled
with an interest and is irrevocable. We shall take any reasonably requested action that is necessary to codify, ratify or otherwise further this appointment. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">E. We consent to the Trustor&#146;s appointment as Tax Responsible Partner for the Trust and we hereby appoint the Trustor as our agent and attorney-in-fact for the purpose of acting on our behalf (but at
its own expense) in complying with the obligations of Tax Matters Partner for the Trust in the remote event that we become the Tax Matters Partner for the Trust. We shall take any reasonably requested action necessary to codify, ratify or otherwise
further this appointment. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">8. [Check and Complete One Subsection:] </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U></U>We are the manager or advisor (the &#147;Manager&#148;) for one or more regulated investment companies (&#147;Funds&#148;)
identified on Appendix A hereto, and, in such capacity, we agree to collect, retain and provide to the Internal Revenue Service (&#147;IRS&#148;) or the Tax Responsible Partner on behalf of the Trust the information required to be collected,
retained and provided to the IRS or the Trust under section 8.04 of Revenue Procedure 2003-84. We will (or will cause our agents to) notify the Tax Responsible Partner of (1) the names, CUSIP numbers or other identifying information and amounts of
Certificates that are owned or have been owned by all of the Funds that we manage or advise and (2) our name, address, taxpayer identification number, and the contact information for the person from whom the IRS may request Beneficial Ownership
information, (i) either (a) substantially contemporaneously with, or immediately following, the acquisition of any Certificates or (b) otherwise, at least quarterly and (ii) within ten (10) business days of a request for such information if the IRS
has requested such information from the Trust or the Tax Responsible Partner. We understand that no particular format is required for such notice; <I>provided, however,</I> that such notice must be in writing, by fax, e-mail, or other similar
electronic communication medium and in a format reasonably satisfactory to the Tax Responsible Partner. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:13%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For purposes of any
such notice the following is incorporated herein by reference: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="91%"></TD></TR>


<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">a. Manager&#146;s
Name:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">b. Manager&#146;s
Address:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-4
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


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<TR>
<TD WIDTH="100%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="text-indent:4.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">c. Manager&#146;s Employer Identification Number:<U></U>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
<TR>
<TD VALIGN="top">
<P STYLE="margin-left:8.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U></U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</U></FONT></P></TD></TR>
<TR>
<TD VALIGN="top">
<P STYLE="margin-left:8.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U></U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</U></FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:6.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">d.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contact information for the person from whom the IRS may request</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px; text-indent:6.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Beneficial Ownership
information:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</U></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U></U>We agree to notify (or, if we are not the Beneficial Owner of a Certificate, to cause such
Beneficial Owner to notify) the Tax Responsible Partner on behalf of the Trust of our Beneficial Ownership of a Certificate and to provide the Tax Responsible Partner on behalf of the Trust all information required by section 8.04 of Revenue
Procedure 2003-84. We will (or will cause our agents to) notify the Tax Responsible Partner of (1) the names, CUSIP numbers or other identifying information and amounts of Certificates that we beneficially own, (2) our name, address, taxpayer
identification number, and (3) our nominee&#146;s name, address, taxpayer identification number, substantially contemporaneously with, or immediately following, the acquisition of any Certificates. We understand that no particular format is required
for such notice; provided, however, that such notice must be in writing, by fax, e-mail, or other similar electronic communication medium and in a format reasonably satisfactory to the Tax Responsible Partner. </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="text-indent:4.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">For purposes of any such notice the following is incorporated herein by reference:</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="text-indent:4.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">a. Our
Name:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="text-indent:4.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">b. Our
Address:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="text-indent:6.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">c. Our Taxpayer Identification
Number:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="text-indent:6.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">d. Our Nominee&#146;s
Name:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="text-indent:6.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">e. Our Nominee&#146;s
Address:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="text-indent:6.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">f. Our Nominee&#146;s Taxpayer Identification
Number:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-5
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">9. This Purchaser Letter shall be for the benefit of each of the following parties
participating in each Series of which we hold any Certificates: the Trustee, the Tender Agent, DTC, any DTC Participant through which we hold Certificates, the Remarketing Agent, the Liquidity Bank, and any Transferor to or Transferee from the
Undersigned. We recognize that such parties will rely upon the truth and accuracy of the representations and agreements set forth in this Purchaser Letter and we agree that each of our purchases of Certificates now or in the future shall be deemed
to constitute our concurrence in and ratification of the entire contents of this Purchaser Letter and shall apply equally to any such subsequent purchase. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">10. If this Purchaser Letter is signed by a Manager on behalf of one or more Funds, the Manager hereby represents and warrants that (i)&nbsp;each of the statements, agreements, covenants and
representations and warranties herein are made on behalf of each such Fund and are true and correct in all material respects with respect to each such Fund, and (ii)&nbsp;the Manager is authorized to execute this Purchaser Letter on behalf of each
such Fund. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-6
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="40%"></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">(Name of Purchaser)</FONT></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">Mailing Address of Purchaser:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
<TR>
<TD VALIGN="top">
<P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</U></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
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<TD HEIGHT="8" COLSPAN="2"></TD>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">DTC Participant:</FONT></P></TD>
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<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Purchaser&#146;s Taxpayer ID
Number:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</U></FONT></TD></TR>
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<P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD>
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<P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Number:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD>
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 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-7
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Appendix A </U></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(If Purchaser is a Manager signing on behalf of one or more Funds:) </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name(s) of
Funds:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
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<P STYLE="text-indent:6.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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</U></FONT></P></TD></TR>
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<P STYLE="text-indent:6.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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<P STYLE="text-indent:6.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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</U></FONT></P></TD></TR>
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<P STYLE="text-indent:6.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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<P STYLE="text-indent:6.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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<P STYLE="text-indent:6.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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<P STYLE="text-indent:6.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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</U></FONT></P></TD></TR>
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<P STYLE="text-indent:6.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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</U></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Floater Certificates </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Residual Certificates </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F-8
</FONT></P>


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<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>EXHIBIT G </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>FORM OF ELECTION LETTER </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">[Date] </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[Placement and Remarketing </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp; Entity] as Remarketing Agent </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">[Trustee], </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;as Tender Agent </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[] </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[] </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Re: <U>RBC Municipal Residual Certificates, Series [ ] (the &#147;Residual Certificates&#148;)</U> </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Ladies and Gentlemen: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The
undersigned, as Beneficial Owner of 100% of the Stated Amount of the Residual Certificates identified above issued pursuant to the Series Trust Agreement, dated as of [ ], 2005 (the &#147;Series Trust Agreement&#148;), by and between [Trustor], as
Trustor (&#147;the Trustor&#148;), and [Trustee], as Trustee and Tender Agent, which includes as an exhibit thereto the Master Terms of Trust Agreement, dated as of August&nbsp;1, 2006 (the &#147;Master Terms of Trust Agreement&#148; and together
with the Series Trust Agreement, the &#147;Trust Agreement&#148;) hereby elects that, upon the occurrence of a Mandatory Tender Event with respect to such Series, if Section&nbsp;5.2(h) of the Master Terms of Trust Agreement shall be applicable, the
Trustee shall follow the provisions of [clauses (i)&nbsp;and (ii)] [clauses (iii)&nbsp;and (iv)] of said Section&nbsp;5.2(h). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Capitalized terms used herein have the meanings given them in the Master Terms of Trust Agreement </FONT></P>
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<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">[NAME OF RESIDUAL CERTIFICATES HOLDER]</FONT></TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">By:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></P></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">G-1
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>EXHIBIT H </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>FORM OF NOTICE OF CHANGE IN PROPORTIONALITY </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Floater&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certificates]
Series </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">(&#147;Floater Certificates&#148;) </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">RBC Municipal Residual&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certificates Series
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">(&#147;Residual Certificates&#148;) </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>NOTICE OF CHANGE IN PROPORTIONALITY </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:54%; text-indent:-2%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date:_____ __,
_____ </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[Trustee], </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;as Tender Agent </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[]
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[] </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">NOTICE is
hereby given pursuant to [Section 6.3(a)(ii)][Section 6.3(c)(ii)] of the Trust Agreement relating to the above-referenced Floater Certificates and Residual Certificates, as follows: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">1. The undersigned is the Beneficial Owner of 100% of such Residual Certificates and $ Stated Amount of such Floater Certificates.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">2.
On&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Insert Bond Interest Payment Date or date of a Rate Determination Time], the undersigned will deliver to you such [Floater
Certificates][Residual Certificates] in accordance with [Section 6.3(a)(i)][Section 6.3(c)(i)] of the Trust Agreement and receive from you a like Stated Amount of additional [Residual Certificates][Floater Certificates]. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">3. Proportionality for the above-referenced Maturity is being changed. The new Level of Proportionality for each Maturity of the Series
is as follows: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">[Specify by Maturity:] . </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">4. [Insert if Proportionality has not been adopted in the Series Trust Agreement for such Series] The undersigned hereby elects to have
Proportionality adopted for such Series on and after the date specified in item 2 above. Thereafter, the Level of Proportionality for each Maturity of the Series shall be as follows: </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">H-1
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">[Specify by
Maturity:]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; . </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">5. On and after the date specified in item 2 above, the Stated Amount of Related Residual Certificates of each Maturity of the Series, shall be as follows: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">[Specify by
Maturity:]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">6. On and after the date specified in item 2 above, the Related Stated Amount of Floater Certificates of each Maturity of the Series, shall be as follows: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">[Specify by
Maturity:]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">All capitalized terms used herein shall have the meanings assigned to them in the Trust Agreement. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="99%"></TD></TR>


<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">[NAME OF RESIDUAL CERTIFICATES HOLDER]</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top">
<P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">(Signature)</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top">
<P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top">
<P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">H-2
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>EXHIBIT I </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>FORM OF NOTICE OF ELECTION TO RETAIN </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">$<U></U> </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">RBC FLOATER CERTIFICATES </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">SERIES<U></U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">(&#147;FLOATER
CERTIFICATES&#148;) </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>NOTICE OF ELECTION TO RETAIN </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:54%; text-indent:-2%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[Trustee], </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">as Trustee and
Tender Agent </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[] </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">[] </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The undersigned (the &#147;Retaining Party&#148;) is the owner of [a beneficial interest in] </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">the </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Stated Amount of
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of [RBC Municipal Floater Certificates], Series [ ] (the &#147;Floater Certificates&#148;) issued pursuant to the Series Trust
Agreement, dated [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, &nbsp;&nbsp;&nbsp;&nbsp;] (the &#147;Series Trust Agreement&#148;), by and between [Trustor] as Trustor (&#147;the Trustor&#148;) and [Trustee], as Trustee and Tender Agent (the
&#147;Trustee&#148; or &#147;Tender Agent&#148;), which includes as an exhibit the Master Terms of Trust Agreement, dated as of August&nbsp;1, 2006 (the &#147;Master Terms of Trust Agreement&#148; and, together with the Series Trust Agreement, the
&#147;Trust Agreement&#148;), by and between the Trustor and the Trustee and Tender Agent, which Floater Certificates evidence beneficial ownership of certain Bonds under the Trust Agreement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Capitalized terms used but not otherwise defined herein shall have the respective meanings assigned to such terms in the Trust Agreement.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Retaining Party has received notice of the Mandatory Tender of the Floater </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Certificates on the Mandatory Tender Date
of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (the &#147;Mandatory Tender Date&#148;) in connection with [specify event]. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Retaining Party hereby notifies the Trustee that such Holder hereby exercises its Election to Retain with respect to the Floater
Certificates identified below on the Mandatory Tender Date: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="26%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="23%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="23%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="22%"></TD></TR>


<TR>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Series of Floater</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px; margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Certificates</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">CUSIP No.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Initial Stated Amount of</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Floater Certificates</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Current Stated Amount</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">of
Floater Certificates</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">I-1
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">[If this Notice of Election to Retain is being delivered in connection with a Mandatory
Tender Date triggered by the replacement of the Liquidity Bank and the delivery by the Trustor of a Substitute Liquidity Facility: The Retaining Party hereby acknowledges that there is no assurance that the ratings assigned to the Floater
Certificates by any Floater Certificate Rating Agency will not be downgraded, suspended, withdrawn or reduced as the result of the provision of a Substitute Liquidity Facility.] </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">[NAME OF FLOATER CERTIFICATES HOLDER]</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">(Signature)</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">I-2
</FONT></P>

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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
