Common use of Limited Obligations Clause in Contracts

Limited Obligations. The Bonds shall be limited obligations of the Issuer, payable by the Issuer solely out of the Revenues (including all sums deposited in any fund from time to time pursuant to this Indenture, the Loan Agreement, and in certain events, as provided herein, out of amounts attributable to Bond proceeds or amounts obtained through the exercise of any remedy provided herein upon occurrence of an Event of Default under this Indenture). The Bonds shall never be paid out of any other funds of the Issuer except such Revenues. No recourse under the Bonds shall be had against any past, present or future officer or trustee of the Issuer. The Bonds shall never be paid in whole or in part out of any funds raised or to be raised by taxation or out of any other revenues or assets of the Issuer or the State except those Revenues pledged by this Indenture. THE BONDS ARE LIMITED AND SPECIAL OBLIGATIONS OF THE ISSUER AND DO NOT CONSTITUTE OR CREATE AN OBLIGA-TION, GENERAL OR SPECIAL, DEBT, LIABILITY OR MORAL OBLIGATION OF THE STATE OR ANY POLITICAL SUBDIVISION THEREOF WITHIN THE MEANING OF ANY CONSTITU-TIONAL OR STATUTORY PROVISIONS WHATSOEVER AND NEITHER THE FAITH OR CREDIT NOR THE TAXING POWER OF THE STATE OR OF ANY POLITICAL SUBDIVI-SION THEREOF IS PLEDGED TO THE PAYMENT OF THE PRINCIPAL OF, PREMIUM, IF ANY, OR THE INTEREST ON THE BONDS. THE BONDS ARE NOT A GENERAL OBLIGATION OF THE ISSUER (WHICH HAS NO TAXING POWER AND RECEIVES NO FUNDS FROM ANY GOVERNMENTAL BODY) BUT ARE A LIMITED AND SPECIAL REVENUE OBLIGATION OF THE ISSUER PAYABLE SOLELY OUT OF THE TRUST ESTATE, INCLUDING THE REVENUES.

Limited Obligations. The Bonds shall be limited obligations of the IssuerTHE BONDS ARE LIMITED OBLIGATIONS OF THE ISSUER, payable by the Issuer solely out of the Revenues PAYABLE SOLELY OUT OF THE REVENUES, RECEIPTS, AND OTHER MONEYS PLEDGED THEREFOR UNDER THIS INDENTURE. THE BONDS ARE NOT A DEBT OF THE STATE, THE ISSUER (including all sums deposited in any fund from time to time pursuant to this IndentureEXCEPT TO THE LIMITED EXTENT SET FORTH IN THIS INDENTURE) OR ANY OTHER POLITICAL SUBDIVISION OF THE STATE, the Loan AgreementAND NONE OF THE STATE, and in certain eventsTHE ISSUER (EXCEPT TO THE LIMITED EXTENT SET FORTH IN THIS INDENTURE) OR ANY OTHER POLITICAL SUBDIVISION OF THE STATE IS LIABLE FOR THE PAYMENT OF THE BONDS. NEITHER THE FAITH AND CREDIT OF THE STATE, as provided herein, out of amounts attributable to Bond proceeds or amounts obtained through the exercise of any remedy provided herein upon occurrence of an Event of Default under this Indenture). The Bonds shall never be paid out of any other funds of the Issuer except such RevenuesTHE ISSUER NOR OF ANY OTHER POLITICAL SUBDIVISION OF THE STATE ARE PLEDGED TO THE PAYMENT OF THE PRINCIPAL OR OF INTEREST ON THE BONDS. No recourse under the Bonds shall be had for the payment of the principal of, premium, if any, or interest on any of the Bonds, or for any claim based thereon or upon any obligation, covenant or agreement contained herein or therein, against any past, present or future officer Councilmember, officer, employee or trustee agent of the Issuer. The Bonds shall never be paid in whole , under any rule of law or in part out equity or statutory or constitutional provision, or by the enforcement of any funds raised assessment or to be raised by taxation penalty or out of any other revenues or assets of the Issuer or the State except those Revenues pledged by this Indentureotherwise. DESPITE THE COMMITMENT FROM XXXXXXX MAC TO PROVIDE THE CREDIT FACILITY FROM AND AFTER THE CONVERSION DATE, THE BONDS ARE LIMITED AND SPECIAL OBLIGATIONS NOT A DEBT OF THE ISSUER AND DO NOT CONSTITUTE OR CREATE AN OBLIGA-TIONUNITED STATES OF AMERICA, GENERAL OR SPECIAL, DEBT, LIABILITY OR MORAL OBLIGATION ANY AGENCY OF THE STATE UNITED STATES OF AMERICA, OR ANY POLITICAL SUBDIVISION THEREOF WITHIN OF XXXXXXX MAC, AND ARE NOT GUARANTEED BY THE MEANING OF ANY CONSTITU-TIONAL OR STATUTORY PROVISIONS WHATSOEVER FULL FAITH AND NEITHER THE FAITH OR CREDIT NOR THE TAXING POWER OF THE STATE UNITED STATES OF AMERICA OR OF ANY POLITICAL SUBDIVI-SION THEREOF IS PLEDGED TO THE BY XXXXXXX MAC. PAYMENT OF THE PRINCIPAL OF, PREMIUM, IF ANY, OR THE INTEREST ON THE BONDSBONDS IS NOT GUARANTEED BY XXXXXXX MAC. THE BONDS OBLIGATIONS OF XXXXXXX MAC CONTEMPLATED UNDER THE CREDIT ENHANCEMENT AGREEMENT ARE OBLIGATIONS SOLELY OF XXXXXXX MAC AND ARE NOT A GENERAL OBLIGATION BACKED BY THE FULL FAITH AND CREDIT OF THE ISSUER (WHICH HAS NO TAXING POWER AND RECEIVES NO FUNDS FROM ANY GOVERNMENTAL BODY) BUT ARE A LIMITED AND SPECIAL REVENUE OBLIGATION UNITED STATES OF THE ISSUER PAYABLE SOLELY OUT OF THE TRUST ESTATE, INCLUDING THE REVENUESAMERICA. Any obligation of the Issuer under this Indenture to the Credit Facility Provider by reason of the pledge of the Trust Estate for the benefit of the Credit Facility Provider pursuant to the Granting Clause of this Indenture shall be limited as provided in Sections 5.09 and 11.09 hereof.

Limited Obligations. The Bonds shall be limited obligations of the Issuer(a) THE GOVERNMENTAL NOTE IS A SPECIAL, payable by the Issuer solely out of the Revenues (including all sums deposited in any fund from time to time pursuant to this IndentureLIMITED OBLIGATION OF THE GOVERNMENTAL LENDER PAYABLE, the Loan AgreementAS TO PRINCIPAL, and in certain eventsPREMIUM, as provided hereinIF ANY, out of amounts attributable to Bond proceeds or amounts obtained through the exercise of any remedy provided herein upon occurrence of an Event of Default under this Indenture). The Bonds shall never be paid out of any other funds of the Issuer except such Revenues. No recourse under the Bonds shall be had against any past, present or future officer or trustee of the Issuer. The Bonds shall never be paid in whole or in part out of any funds raised or to be raised by taxation or out of any other revenues or assets of the Issuer or the State except those Revenues pledged by this IndentureAND INTEREST SOLELY FROM THE PLEDGED REVENUES AND OTHER FUNDS AND MONEYS AND SECURITY PLEDGED AND ASSIGNED HEREUNDER. THE BONDS ARE LIMITED AND SPECIAL OBLIGATIONS GOVERNMENTAL NOTE SHALL CONSTITUTE A VALID CLAIM OF THE ISSUER OWNER OR OWNERS THEREOF AGAINST THE PLEDGED REVENUES AND DO OTHER FUNDS AND MONEYS AND SECURITY PLEDGED AND ASSIGNED HEREUNDER, WHICH ARE PLEDGED TO SECURE THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON THE GOVERNMENTAL NOTE, AND WHICH SHALL BE USED FOR NO OTHER PURPOSE EXCEPT AS EXPRESSLY AUTHORIZED IN THIS FUNDING LOAN AGREEMENT. THE GOVERNMENTAL NOTE SHALL NOT CONSTITUTE BE A DEBT OR CREATE AN OBLIGA-TION, GENERAL OR SPECIAL, DEBT, LIABILITY OR MORAL OBLIGATION INDEBTEDNESS OF THE STATE OR ANY POLITICAL SUBDIVISION THEREOF, AND NEITHER THE STATE NOR ANY POLITICAL SUBDIVISION THEREOF SHALL BE LIABLE THEREON, NOR IN ANY EVENT SHALL THE GOVERNMENTAL NOTE BE PAYABLE OUT OF ANY FUNDS OR PROPERTIES OTHER THAN THOSE OF THE GOVERNMENTAL LENDER PLEDGED UNDER THIS FUNDING LOAN AGREEMENT. THE GOVERNMENTAL NOTE SHALL NOT CONSTITUTE AN INDEBTEDNESS OR A MULTIPLE FISCAL-YEAR FINANCIAL OBLIGATION WITHIN THE MEANING OF ANY CONSTITU-TIONAL CONSTITUTIONAL OR STATUTORY PROVISIONS WHATSOEVER AND DEBT LIMITATION OR RESTRICTION. NEITHER THE FAITH OR CREDIT STATE NOR THE TAXING POWER OF THE STATE OR OF ANY POLITICAL SUBDIVI-SION SUBDIVISION THEREOF IS PLEDGED TO (EXCEPT THE GOVERNMENTAL LENDER FROM THE SOURCES IDENTIFIED HEREIN) SHALL BE LIABLE FOR PAYMENT OF THE GOVERNMENTAL NOTE NOR IN ANY EVENT SHALL PRINCIPAL OF, PREMIUM, IF ANY, OR THE AND INTEREST ON THE BONDSGOVERNMENTAL NOTE BE PAYABLE OUT OF ANY FUNDS OR ASSETS OTHER THAN THOSE PLEDGED TO THAT PURPOSE BY THE GOVERNMENTAL LENDER HEREIN. THE BONDS ARE NOT A GENERAL OBLIGATION OF THE ISSUER (WHICH GOVERNMENTAL LENDER HAS NO TAXING POWER AND RECEIVES NO FUNDS FROM ANY GOVERNMENTAL BODY) BUT ARE A LIMITED AND SPECIAL REVENUE OBLIGATION OF THE ISSUER PAYABLE SOLELY OUT OF THE TRUST ESTATE, INCLUDING THE REVENUESPOWER.

Limited Obligations. The Bonds Notwithstanding any other provision of this Funding Loan Agreement to the contrary, the Governmental Note is not and never shall be limited obligations become a general obligation of the IssuerGovernmental Lender, payable but to the extent provided in and except as otherwise permitted by the Issuer solely out of the Revenues (including all sums deposited in any fund from time to time pursuant to this Indenture, the Funding Loan Agreement, and in certain events, as provided herein, out of amounts attributable to Bond proceeds or amounts obtained through the exercise of any remedy provided herein upon occurrence of an Event of Default under this Indenture). The Bonds Governmental Note shall never be paid out of any other funds a limited obligation of the Issuer except such Revenues. No recourse under Governmental Lender and the Bonds principal of, premium, if any, thereon shall be had against any pastpayable equally and ratably solely from and secured solely by the Pledged Security. NOTWITHSTANDING ANYTHING HEREIN CONTAINED TO THE CONTRARY, present or future officer or trustee of the Issuer. The Bonds shall never be paid in whole or in part out of any funds raised or to be raised by taxation or out of any other revenues or assets of the Issuer or the State except those Revenues pledged by this Indenture. ANY OBLIGATION THAT THE BONDS ARE LIMITED AND SPECIAL OBLIGATIONS GOVERNMENTAL LENDER MAY INCUR UNDER THIS FUNDING LOAN AGREEMENT OR UNDER ANY INSTRUMENT EXECUTED IN CONNECTION HEREWITH THAT SHALL ENTAIL THE EXPENDITURE OF THE ISSUER AND DO MONEY SHALL NOT CONSTITUTE OR CREATE AN OBLIGA-TION, BE A GENERAL OR SPECIAL, DEBT, LIABILITY OR MORAL OBLIGATION OF THE STATE OR ANY POLITICAL SUBDIVISION THEREOF WITHIN GOVERNMENTAL LENDER, BUT SHALL BE A LIMITED OBLIGATION PAYABLE SOLELY FROM THE MEANING OF ANY CONSTITU-TIONAL OR STATUTORY PROVISIONS WHATSOEVER AND NEITHER PLEDGED SECURITY. THE FAITH OR CREDIT NOR THE TAXING POWER GOVERNMENTAL NOTE SHALL CONSTITUTE A VALID CLAIM OF THE STATE OR OF ANY POLITICAL SUBDIVI-SION RESPECTIVE HOLDERS THEREOF AGAINST THE PLEDGED SECURITY, WHICH IS PLEDGED TO SECURE THE PAYMENT OF THE PRINCIPAL OF, PREMIUM, IF ANY, OR THE ANY AND INTEREST ON THE BONDSGOVERNMENTAL NOTE AND WHICH SHALL BE UTILIZED FOR NO OTHER PURPOSE, EXCEPT AS EXPRESSLY AUTHORIZED IN THIS FUNDING LOAN AGREEMENT. THE BONDS ARE NOT GOVERNMENTAL NOTE, TOGETHER WITH INTEREST THEREON, SHALL BE A GENERAL LIMITED OBLIGATION OF THE ISSUER GOVERNMENTAL LENDER GIVING RISE TO NO CHARGE AGAINST THE GOVERNMENTAL LENDER’S GENERAL CREDIT AND PAYABLE SOLELY FROM, AND CONSTITUTE CLAIMS OF THE HOLDERS THEREOF AGAINST ONLY, THE PLEDGED SECURITY. THE PRINCIPAL OF, PREMIUM, IF ANY AND INTEREST ON THE GOVERNMENTAL NOTE SHALL NOT BE DEEMED TO CONSTITUTE DEBT OF THE GOVERNMENTAL LENDER (WHICH EXCEPT TO THE EXTENT OF THE PLEDGED SECURITY). THE GOVERNMENTAL NOTE IS NOT AND DOES NOT CREATE OR CONSTITUTE IN ANY WAY AN OBLIGATION, A DEBT OR A LIABILITY OF THE STATE OR ANY POLITICAL SUBDIVISION THEREOF, OR CREATE OR CONSTITUTE A PLEDGE, GIVING OR LENDING OF THE FAITH, CREDIT, OR TAXING POWER OF THE STATE OR ANY POLITICAL SUBDIVISION THEREOF. THE GOVERNMENTAL LENDER HAS NO TAXING POWER AND RECEIVES NO FUNDS FROM ANY GOVERNMENTAL BODY) BUT ARE A LIMITED AND SPECIAL REVENUE OBLIGATION OF THE ISSUER PAYABLE SOLELY OUT OF THE TRUST ESTATEPOWER. No agreement or obligation contained herein shall be deemed to be an agreement or obligation of any governing board member, INCLUDING THE REVENUESdirector, officer, agent or employee of the Governmental Lender in his or her individual capacity, and no member of the governing board of the Governmental Lender nor any officer executing the Governmental Note shall be liable personally on such Governmental Note or be subject to any personal liability or accountability by reason of the issuance thereof. No governing board member, director, officer, agent or employee of the Governmental Lender shall incur any personal liability with respect to any other action taken by him or her pursuant to this Funding Loan Agreement.

Limited Obligations. The Bonds shall be limited obligations of the Issuer, payable by the Issuer solely out of the Revenues (including all sums deposited in any fund from time to time pursuant to this Indenture, the Loan Agreement, and in certain events, as provided herein, out of amounts attributable to Bond proceeds or amounts obtained through the exercise of any remedy provided herein upon occurrence of an Event of Default under this Indenture). The Bonds shall never be paid out of any other funds of the Issuer except such Revenues. No recourse under the Bonds shall be had against any past, present or future officer or trustee of the Issuer. The Bonds shall never be paid in whole or in part out of any funds raised or to be raised by taxation or out of any other revenues or assets of the Issuer or the State except those Revenues pledged by this Indenture. a) THE BONDS CERTIFICATES ARE SPECIAL LIMITED AND SPECIAL OBLIGATIONS OF THE ISSUER AND DO NOT CONSTITUTE OR CREATE AN OBLIGA-TIONPAYABLE SOLELY FROM THE TRUST ESTATE AND, GENERAL OR SPECIALEXCEPT FROM SUCH SOURCE, DEBT, LIABILITY OR MORAL OBLIGATION NONE OF THE ISSUER, ANY MEMBER, ANY ISSUER SPONSOR, ANY ISSUER INDEMNIFIED PARTY, THE STATE OF WISCONSIN OR ANY POLITICAL SUBDIVISION OR AGENCY THEREOF WITHIN OR ANY POLITICAL SUBDIVISION APPROVING THE MEANING ISSUANCE OF THE CERTIFICATES SHALL BE OBLIGATED FOR THE PAYMENT OF DISTRIBUTIONS ON THE CERTIFICATES OR ANY CONSTITU-TIONAL COSTS INCIDENTAL THERETO, EXCEPT AS PROVIDED IN THIS TRUST AGREEMENT AND TO THE EXTENT OF THE TRUST ESTATE. THE CERTIFICATES ARE NOT A DEBT OF THE STATE OF WISCONSIN OR STATUTORY PROVISIONS WHATSOEVER ANY MEMBER AND DO NOT, DIRECTLY, INDIRECTLY OR CONTINGENTLY, OBLIGATE, IN ANY MANNER, ANY MEMBER, THE STATE OF WISCONSIN OR ANY POLITICAL SUBDIVISION OR AGENCY THEREOF OR ANY POLITICAL SUBDIVISION APPROVING THE ISSUANCE OF THE CERTIFICATES TO LEVY ANY TAX OR TO MAKE ANY APPROPRIATION FOR THE PAYMENT OF THE DISTRIBUTIONS ON THE CERTIFICATES OR ANY COSTS INCIDENTAL THERETO. NEITHER THE FAITH OR AND CREDIT NOR THE TAXING POWER OF ANY MEMBER, THE STATE OF WISCONSIN OR OF ANY POLITICAL SUBDIVI-SION SUBDIVISION OR AGENCY THEREOF IS OR ANY POLITICAL SUBDIVISION APPROVING THE ISSUANCE OF THE CERTIFICATES, NOR THE FAITH AND CREDIT OF THE ISSUER, ANY ISSUER SPONSOR OR ANY ISSUER INDEMNIFIED PARTY, SHALL BE PLEDGED TO THE PAYMENT OF THE PRINCIPAL OF, PREMIUM, IF ANY, OR THE INTEREST DISTRIBUTIONS ON THE BONDSCERTIFICATES OR ANY COSTS INCIDENTAL THERETO. THE BONDS ARE NOT A GENERAL OBLIGATION OF THE ISSUER (WHICH HAS NO TAXING POWER POWER. (b) NO RECOURSE SHALL BE HAD FOR THE PAYMENT OF DISTRIBUTIONS ON THE CERTIFICATES AGAINST ANY ISSUER INDEMNIFIED PARTY, UNDER ANY RULE OF LAW OR EQUITY, STATUTE, OR CONSTITUTION OR BY THE ENFORCEMENT OF ANY ASSESSMENT OR PENALTY OR OTHERWISE, AND RECEIVES NO FUNDS FROM ALL SUCH LIABILITY OF ANY GOVERNMENTAL BODY) BUT ARE SUCH PERSON, AS SUCH, IS HEREBY EXPRESSLY WAIVED AND RELEASED AS A LIMITED CONDITION OF AND SPECIAL REVENUE OBLIGATION CONSIDERATION FOR THE EXECUTION AND ISSUANCE OF THE ISSUER PAYABLE SOLELY OUT OF THE TRUST ESTATE, INCLUDING THE REVENUESCERTIFICATES.

Limited Obligations. The Bonds shall be limited obligations of the Issuer, payable by the Issuer solely out of the Revenues (including all sums deposited in any fund from time to time pursuant to this Indenture, the Loan Agreement, and in certain events, as provided herein, out of amounts attributable to Bond proceeds or amounts obtained through the exercise of any remedy provided herein upon occurrence of an Event of Default under this Indenture). The Bonds shall never be paid out of any other funds of the Issuer except such Revenues. No recourse under the Bonds shall be had against any past, present or future officer or trustee of the Issuer. The Bonds shall never be paid in whole or in part out of any funds raised or to be raised by taxation or out of any other revenues or assets of the Issuer or the State except those Revenues pledged by this Indenture. THE BONDS ARE LIMITED AND SPECIAL OBLIGATIONS OF THE ISSUER AND DO NOT CONSTITUTE OR CREATE AN OBLIGA-TIONOBLIGATION, GENERAL OR SPECIAL, DEBT, LIABILITY OR MORAL OBLIGATION OF THE STATE OR ANY POLITICAL SUBDIVISION THEREOF WITHIN THE MEANING OF ANY CONSTITU-TIONAL CONSTITUTIONAL OR STATUTORY PROVISIONS WHATSOEVER AND NEITHER THE FAITH OR CREDIT NOR THE TAXING POWER OF THE STATE OR OF ANY POLITICAL SUBDIVI-SION SUBDIVISION THEREOF IS PLEDGED TO THE PAYMENT OF THE PRINCIPAL OF, PREMIUM, IF ANY, OR THE INTEREST ON THE BONDS. THE BONDS ARE NOT A GENERAL OBLIGATION OF THE ISSUER (WHICH HAS NO TAXING POWER AND RECEIVES NO FUNDS FROM ANY GOVERNMENTAL BODY) BUT ARE A LIMITED AND SPECIAL REVENUE OBLIGATION OF THE ISSUER PAYABLE SOLELY OUT OF THE TRUST ESTATE, INCLUDING THE REVENUES.

Limited Obligations. The Bonds shall be limited obligations of the IssuerTHE BONDS ARE LIMITED OBLIGATIONS OF THE ISSUER, payable by the Issuer solely out of the Revenues PAYABLE SOLELY OUT OF THE REVENUES, RECEIPTS, AND OTHER MONEYS PLEDGED THEREFOR UNDER THIS INDENTURE. THE BONDS ARE NOT A DEBT OF THE STATE, THE ISSUER (including all sums deposited in any fund from time to time pursuant to this IndentureEXCEPT TO THE LIMITED EXTENT SET FORTH IN THIS INDENTURE) OR ANY OTHER POLITICAL SUBDIVISION OF THE STATE, the Loan AgreementAND NONE OF THE STATE, and in certain eventsTHE ISSUER (EXCEPT TO THE LIMITED EXTENT SET FORTH IN THIS INDENTURE) OR ANY OTHER POLITICAL SUBDIVISION OF THE STATE IS LIABLE FOR THE PAYMENT OF THE BONDS. NEITHER THE FAITH AND CREDIT OF THE STATE, as provided herein, out of amounts attributable to Bond proceeds or amounts obtained through the exercise of any remedy provided herein upon occurrence of an Event of Default under this Indenture). The Bonds shall never be paid out of any other funds of the Issuer except such RevenuesTHE ISSUER NOR OF ANY OTHER POLITICAL SUBDIVISION OF THE STATE ARE PLEDGED TO THE PAYMENT OF THE PRINCIPAL OR OF INTEREST ON THE BONDS. No recourse under the Bonds shall be had for the payment of the principal of, premium, if any, or interest on any of the Bonds, or for any claim based thereon or upon any obligation, covenant or agreement contained herein or therein, against any past, present or future officer Councilmember, officer, employee or trustee agent of the Issuer. The Bonds shall never be paid in whole , under any rule of law or in part out equity or statutory or constitutional provision, or by the enforcement of any funds raised assessment or to be raised by taxation penalty or out of any other revenues or assets of the Issuer or the State except those Revenues pledged by this Indentureotherwise. DESPITE THE COMMITMENT FROM FREDDIE MAC TO PROVIDE THE CREDIT FACILITY FROM AND AFTER THE CONVERSION DATE, THE BONDS ARE LIMITED AND SPECIAL OBLIGATIONS NOT A DEBT OF THE ISSUER AND DO NOT CONSTITUTE OR CREATE AN OBLIGA-TIONUNITED STATES OF AMERICA, GENERAL OR SPECIAL, DEBT, LIABILITY OR MORAL OBLIGATION ANY AGENCY OF THE STATE UNITED STATES OF AMERICA, OR ANY POLITICAL SUBDIVISION THEREOF WITHIN OF FREDDIE MAC, AND ARE NOT GUARANTEED BY THE MEANING OF ANY CONSTITU-TIONAL OR STATUTORY PROVISIONS WHATSOEVER FULL FAITH AND NEITHER THE FAITH OR CREDIT NOR THE TAXING POWER OF THE STATE UNITED STATES OF AMERICA OR OF ANY POLITICAL SUBDIVI-SION THEREOF IS PLEDGED TO THE BY FREDDIE MAC. PAYMENT OF THE PRINCIPAL OF, PREMIUM, IF ANY, OR THE INTEREST ON THE BONDSBONDS IS NOT GUARANTEED BY FREDDIE MAC. THE BONDS OBLIGATIONS OF FREDDIE MAC CONTEMPLATED UNDER THE CREDIT ENHANCEMENT AGREEMENT ARE OBLIGATIONS SOLELY OF FREDDIE MAC AND ARE NOT A GENERAL OBLIGATION BACKED BY THE FULL FAITH AND CREDIT OF THE ISSUER (WHICH HAS NO TAXING POWER AND RECEIVES NO FUNDS FROM ANY GOVERNMENTAL BODY) BUT ARE A LIMITED AND SPECIAL REVENUE OBLIGATION UNITED STATES OF THE ISSUER PAYABLE SOLELY OUT OF THE TRUST ESTATE, INCLUDING THE REVENUESAMERICA. Any obligation of the Issuer under this Indenture to the Credit Facility Provider by reason of the pledge of the Trust Estate for the benefit of the Credit Facility Provider pursuant to the Granting Clause of this Indenture shall be limited as provided in Sections 5.09 and 11.09 hereof.

Limited Obligations. The Bonds shall be limited obligations of the Issuer, payable by the Issuer solely out of the Revenues (including all sums deposited in any fund from time to time pursuant to this Indenture, the Loan Agreement, and in certain events, as provided herein, out of amounts attributable to Bond proceeds or amounts obtained through the exercise of any remedy provided herein upon occurrence of an Event of Default under this Indenture). The Bonds shall never be paid out of Notwithstanding any other funds provision of this Funding Loan Agreement to the Issuer except such Revenuescontrary: THE GOVERNMENTAL NOTE IS EXECUTED AND DELIVERED PURSUANT TO THE COUNTY AUTHORIZATION, THE RESOLUTION AND IN ACCORDANCE WITH THE ACT, AND IS A LIMITED OBLIGATION OF THE GOVERNMENTAL LENDER. No recourse under the Bonds shall be had against any pastNEITHER THE GOVERNMENTAL LENDER NOR ANY OFFICIAL OR EMPLOYEE OF THE GOVERNMENTAL LENDER NOR ANY PERSON EXECUTING THE GOVERNMENTAL NOTE SHALL BE LIABLE PERSONALLY ON THE GOVERNMENTAL NOTE OR BE SUBJECT TO ANY PERSONAL LIABILITY OR ACCOUNTABILITY BY REASON OF ITS EXECUTION, present or future officer or trustee of the Issuer. The Bonds shall never be paid in whole or in part out of any funds raised or to be raised by taxation or out of any other revenues or assets of the Issuer or the State except those Revenues pledged by this IndentureDELIVERY AND PLACEMENT. THE BONDS GOVERNMENTAL NOTE AND THE INTEREST THEREON ARE LIMITED AND SPECIAL OBLIGATIONS OF THE ISSUER AND DO NOT CONSTITUTE GOVERNMENTAL LENDER, PAYABLE ONLY FROM THE SOURCES DESCRIBED IN THIS FUNDING LOAN AGREEMENT. NEITHER THE GOVERNMENTAL LENDER, THE STATE NOR ANY OTHER POLITICAL CORPORATION OR CREATE AN OBLIGA-TION, GENERAL SUBDIVISION OR SPECIAL, DEBT, LIABILITY OR MORAL OBLIGATION AGENCY THEREOF SHALL BE OBLIGATED TO PAY THE PRINCIPAL OF THE STATE GOVERNMENTAL NOTE, PREMIUM, IF ANY, OR ANY POLITICAL SUBDIVISION THEREOF WITHIN THE MEANING OF ANY CONSTITU-TIONAL INTEREST THEREON OR STATUTORY PROVISIONS WHATSOEVER AND OTHER COSTS INCIDENT THERETO EXCEPT FROM THE MONEY PLEDGED THEREFOR. NEITHER THE FAITH OR AND CREDIT NOR THE TAXING POWER OF THE STATE OR OF NOR ANY POLITICAL SUBDIVI-SION CORPORATION OR SUBDIVISION OR AGENCY THEREOF NOR THE FAITH AND CREDIT OF THE GOVERNMENTAL LENDER IS PLEDGED TO THE PAYMENT OF THE PRINCIPAL OF, PREMIUM, IF ANY, OR THE INTEREST ON THE BONDSGOVERNMENTAL NOTE OR OTHER COSTS INCIDENT THERETO. THE BONDS ARE NOT A GENERAL OBLIGATION OF THE ISSUER (WHICH GOVERNMENTAL LENDER HAS NO TAXING POWER AND RECEIVES NO FUNDS FROM ANY POWER. THE GOVERNMENTAL BODY) BUT ARE NOTE IS NOT A LIMITED AND SPECIAL REVENUE OBLIGATION DEBT OF THE ISSUER PAYABLE SOLELY OUT UNITED STATES OF THE TRUST ESTATE, INCLUDING THE REVENUESAMERICA.

Limited Obligations. The Bonds shall be limited obligations of the IssuerNOTWITHSTANDING ANYTHING HEREIN CONTAINED TO THE CONTRARY, payable by the Issuer solely out of the Revenues (including all sums deposited in any fund from time to time pursuant to this Indenture, the Loan Agreement, and in certain events, as provided herein, out of amounts attributable to Bond proceeds or amounts obtained through the exercise of any remedy provided herein upon occurrence of an Event of Default under this Indenture). The Bonds shall never be paid out of any other funds of the Issuer except such Revenues. No recourse under the Bonds shall be had against any past, present or future officer or trustee of the Issuer. The Bonds shall never be paid in whole or in part out of any funds raised or to be raised by taxation or out of any other revenues or assets of the Issuer or the State except those Revenues pledged by this IndentureANY OBLIGATION WHICH THE ISSUER MAY INCUR UNDER THIS INDENTURE OR UNDER ANY INSTRUMENT EXECUTED IN CONNECTION HEREWITH WHICH SHALL ENTAIL THE EXPENDITURE OF MONEY SHALL NOT BE A GENERAL OBLIGATION OF THE ISSUER BUT SHALL BE A SPECIAL LIMITED OBLIGATION PAYABLE SOLELY FROM THE TRUST ESTATE. THE BONDS ARE LIMITED AND SPECIAL OBLIGATIONS SHALL CONSTITUTE A VALID CLAIM OF THE ISSUER AND DO NOT CONSTITUTE OR CREATE AN OBLIGA-TIONRESPECTIVE BONDHOLDERS THEREOF AGAINST THE TRUST ESTATE, GENERAL OR SPECIAL, DEBT, LIABILITY OR MORAL OBLIGATION OF THE STATE OR ANY POLITICAL SUBDIVISION THEREOF WITHIN THE MEANING OF ANY CONSTITU-TIONAL OR STATUTORY PROVISIONS WHATSOEVER AND NEITHER THE FAITH OR CREDIT NOR THE TAXING POWER OF THE STATE OR OF ANY POLITICAL SUBDIVI-SION THEREOF WHICH IS PLEDGED TO SECURE THE PAYMENT OF THE PRINCIPAL OF, PREMIUM, IF ANY, OR THE AND INTEREST ON THE BONDS AND WHICH SHALL BE UTILIZED FOR NO OTHER PURPOSE, EXCEPT AS EXPRESSLY AUTHORIZED IN THIS INDENTURE. THE BONDS, TOGETHER WITH INTEREST XXXXXXX, SHALL BE SPECIAL LIMITED OBLIGATIONS OF THE ISSUER GIVING RISE TO NO CHARGE AGAINST THE ISSUER’S GENERAL CREDIT AND PAYABLE SOLELY FROM, AND CONSTITUTE CLAIMS OF THE BONDHOLDERS THEREOF AGAINST ONLY, THE TRUST ESTATE. THE BONDS, THE PREMIUM, IF ANY, AND THE INTEREST THEREON SHALL NOT BE DEEMED TO CONSTITUTE DEBT OF THE ISSUER (EXCEPT TO THE EXTENT OF THE TRUST ESTATE), THE STATE OR ANY POLITICAL SUBDIVISION THEREOF, AND NONE OF THE ISSUER, THE STATE OR ANY POLITICAL SUBDIVISION THEREOF SHALL BE LIABLE THEREON, NOR IN ANY EVENT SHALL THE BONDS BE PAYABLE OUT OF ANY FUNDS OR PROPERTIES OTHER THAN THOSE SPECIFICALLY PLEDGED THERETO. THE ISSUER HAS NO TAXING POWER. No agreement or obligation contained herein shall be deemed to be an agreement or obligation of any director, officer, employee, commissioner, servant or agent of the Issuer in his or her individual capacity, and neither the directors of the Issuer nor any officer thereof executing any Bond shall be liable personally on such Bond or be subject to any personal liability or accountability by reason of the issuance thereof. No director, officer, employee, commissioner, servant or agent of the Issuer shall incur any personal liability with respect to any other action taken by him or her pursuant to this Indenture. THE BONDS ARE NOT A GENERAL OBLIGATION DEBT OF THE ISSUER (WHICH HAS NO TAXING POWER AND RECEIVES NO FUNDS FROM UNITED STATES OF AMERICA, OR ANY GOVERNMENTAL BODY) BUT ARE A LIMITED AND SPECIAL REVENUE OBLIGATION AGENCY OF THE ISSUER PAYABLE SOLELY OUT UNITED STATES OF AMERICA, OR FREDDIE MAC, AND ARE NOT GUARANTEED BY THE FULL FAITH AND CREDIT OF THE TRUST ESTATEUNITED STATES OF AMERICA OR BY FREDDIE MAC. PAYMENT OF THE PRINCIPAL OF, INCLUDING PREMIUM, IF ANY, OR INTEREST ON THE REVENUESBONDS IS NOT GUARANTEED BY FREDDIE MAC. THE OBLIGATIONS OF FREDDIE MAC UNDER THE CREDIT ENHANCEMENT AGREEMENT ARE OBLIGATIONS SOLELY OF FREDDIE MAC AND ARE NOT BACKED BY THE FULL FAITH AND CREDIT OF THE UNITED STATES OF AMERICA.

Limited Obligations. The Bonds shall be limited obligations of the IssuerAuthority, payable by the Issuer Authority solely out of the Revenues (including all sums deposited in any fund from time to time pursuant to this Indenture, the Loan Agreement, and in certain events, as provided herein, out of amounts attributable to Bond proceeds or amounts obtained through the exercise of any remedy provided herein upon occurrence of an Event of Default under this Indenture). The Bonds shall never be paid out of any other funds of the Issuer Authority except such Revenues. No recourse under the Bonds shall be had against any past, present or future officer or trustee of the IssuerAuthority. The Bonds shall never be paid in whole or in part out of any funds raised or to be raised by taxation or out of any other revenues or assets of the Issuer Authority or the State except those Revenues pledged by this Indenture. THE BONDS ARE LIMITED AND SPECIAL OBLIGATIONS OF THE ISSUER AUTHORITY AND DO NOT CONSTITUTE OR CREATE AN OBLIGA-TIONOBLIGATION, GENERAL OR SPECIAL, DEBT, LIABILITY OR MORAL OBLIGATION OF THE STATE OR ANY POLITICAL SUBDIVISION THEREOF WITHIN THE MEANING OF ANY CONSTITU-TIONAL CONSTITUTIONAL OR STATUTORY PROVISIONS WHATSOEVER AND NEITHER THE FAITH OR CREDIT NOR THE TAXING POWER OF THE STATE OR OF ANY POLITICAL SUBDIVI-SION SUBDIVISION THEREOF IS PLEDGED TO THE PAYMENT OF THE PRINCIPAL OF, PREMIUM, IF ANY, OR THE INTEREST ON THE BONDS. THE BONDS ARE NOT A GENERAL OBLIGATION OF THE ISSUER AUTHORITY (WHICH HAS NO TAXING POWER AND RECEIVES NO FUNDS FROM ANY GOVERNMENTAL BODY) BUT ARE A LIMITED AND SPECIAL REVENUE OBLIGATION OF THE ISSUER AUTHORITY PAYABLE SOLELY OUT OF THE TRUST ESTATE, INCLUDING THE REVENUES.