HomeMy WebLinkAboutContracts & Agreements_14-1998_CCv0001.pdf C;11 a CA.G6LKA.S
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March 1,1998
FGIC Securities Purchase,Inc.
115 Broadway
New York New York 10006
Attn.: Vice President
Dear Sirs:
Reference is hereby made to that certain(i)Standby Bond Purchase Agreement dated as of April 16,
1993 between FGIC Securities Purchase, Inc.,a Delaware corporation(the"Corporation")and First Trust of
California, N.A. formerly Bank of America National Trust and Savings Association, a national banking
association organized and existing under the laws of the United States,as Trustee(the"Trustee")(the
"Standby Bond Purchase Agreement") and(ii)the Payment Agreement among The City of Redlands
(California), a municipal corporation duly organized and existing under the laws of the State of California
(the"Issuer"), the Trustee and the Corporation dated as of April 16, 1993 (the"Payment Agreement")(the
Standby Bond Purchase Agreement and the Payment Agreement collectively, the"Agreements") in
connection with the issuance of the$19,735,000 in principal amount of the Issuer's Certificates of
Participation(1993 Sewer Facilities Refunding Project). Capitalized terms used herein and not otherwise
defined shall have tlee espective meanings ascribed thereto in the Agreements.
The undersigned hereby confirms to you that the Trustee and the Issuer irrevocably waive the
provisions of Section 6 of the Payment Agreement insofar as such provisions require that the Corporation
give written notice to the Trustee and the Issuer, not later than the date which is May 1, 1998, of its intent to
extend the term of the Standby Bond Purchase Agreement past the Scheduled Termination Date. The
undersigned further hereby consents to the extension of the term of the Standby Bond Purchase Agreement
for an additional period of five(5)years to May 1, 2003.
Except as modified hereby, all terms and conditions of the Agreements shall remain in full force and
effect.
Please confirm your agreement to the extension to the Stated Termination Date as set forth above,
and your agreement with the other matters referred to in this letter,by signing the enclosed executed copy
hereof and returning the same to us at the address indicated above.
P.O. BOX 3005 0 REDLANDS, CA 92373
This letter 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.
Sincerely,
for) ro
N.A. formerly BANK OF AMERICA
NATIONAL TRUST AND
SAVINGS ASSOCIATION,
as Trustee
By: W�
Title: RobCrt oc�jrjej C-r
Awlstant vice President.
THE CITY OF REDLANDS
(CALIFORNIA'
By
Title: PrP A-ffiaim--f-----un)� 'ngham
Mayor
Accepted and Agreed to as of
this (4L day of Mat7h, 1998 ATTEST:
FDIC SECURITIES PURCHASE, INC. By
Titj�. errje p
Bv:
Title: V
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