Common use of Special Redemption Clause in Contracts

Special Redemption. (a) In accordance with and for purposes of Section 5.2(e) hereof, the 2023A Bonds are subject to special redemption prior to maturity, in whole or in part, at any time on or before April 1, 2026 pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b) hereof (or such later date as may be selected in accordance with Section 5.2(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2023 Series A Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2023A Bonds in the Restricted Loan Subaccount. (b) The 2023A Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow Statement, in whole or in part, at any time, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2023 Series A subaccount of the Class I Special Redemption Account (other than as described in paragraph (a) above) and/or in the 2023 Series A subaccount of the Revenue Fund and available to be transferred to the 2023 Series A subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (c) The 2023A Bonds are subject to special redemption prior to maturity, in whole or in part, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, if and to the extent that the Arvada House Loan has not been finally endorsed for insurance by the Federal Housing Administration under Section 542(c) of the Housing and Community Development Act of 1992, as amended, by the Risk-Share Insurance Delivery Date (or such later date to which the Authority may consent in writing). (d) At any time prior to the date on which notice of redemption pursuant to this paragraph (d) of Section 3.1 must be given as provided in Section 3.4 of this Series Indenture, the Authority may extend the applicable special redemption date by providing an Authority Request filed with the Trustee of any extension of such special redemption date, along with a Confirmation from the Rating Agency of the then-current rating on the 2023A Bonds, provided that the Borrower shall be required to (i) deposit funds for the credit of the 2023 Series A subaccount of the Negative Arbitrage Account in an amount, taking into account amounts already on deposit therein, sufficient to pay interest due on the 2023A Bonds to the extended special redemption date (the “Extension Deposit”), and (ii) deliver to the Authority, the Trustee and the Rating Agency a Cash Flow Statement establishing the sufficiency of the Extension Deposit. Extension Deposits may continue to be made by or on behalf of the Borrower until the Risk-Share Insurance Delivery Date occurs or the Borrower declines to make an Extension Deposit resulting in the special redemption, at the direction of the Authority, pursuant to Section 3.3(a) hereof; provided, however, the special redemption date may not be extended to a date that is later than the third anniversary of the Closing Date unless prior to any extension beyond such date there shall be filed with the Trustee and the Authority an opinion of Bond Counsel to the effect that such extension will not adversely affect the exclusion of interest on the 2023A Bonds from gross income for federal income tax purposes. The cost of such opinion shall be the sole obligation and responsibility of the Borrower. (e) Notwithstanding the foregoing, the Bonds shall not be subject to redemption prior to the placed in service date of the Arvada House Housing Facility, so long as the placed in service date occurs prior to the Risk-Share Insurance Delivery Date.

Special Redemption. (a) In accordance with and for purposes of Section 5.2(e) hereof, the 2023A 2024A Bonds are subject to special redemption prior to maturity, in whole or in part, at any time on or before April 1, 2026 2028 pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b) hereof (or such later date as may be selected in accordance with Section 5.2(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2024A Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2023 2024 Series A Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2023A 2024A Bonds in the Restricted Loan Subaccount. (b) The 2023A 2024A Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow Statement, in whole or in part, at any time, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2024A Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2023 2024 Series A subaccount of the Class I Special Redemption Account (other than as described in paragraph (a) above) and/or in the 2023 2024 Series A subaccount of the Revenue Fund and available to be transferred to the 2023 2024 Series A subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (c) The 2023A 2024A-1 Bonds are subject to special redemption prior to maturity, in whole or in part, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2024A-1 Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, if and to the extent that the Arvada House Overlook @ Uplands Permanent Loan has not been finally endorsed for insurance by the Federal Housing Administration under Section 542(c) of the Housing and Community Development Act of 1992, as amended, by the Risk-Share Insurance Delivery Date (or such later date to which the Authority may consent in writing). (d) At any time prior to the date on which notice of redemption pursuant to this paragraph (d) of Section 3.1 must be given as provided in Section 3.4 of this Series Indenture, the Authority may extend the applicable special redemption date by providing an Authority Request filed with the Trustee of any extension of such special redemption date, along with a Confirmation from the Rating Agency of the then-current rating on the 2023A Bonds, provided that the Borrower shall be required to (i) deposit funds for the credit of the 2023 Series A subaccount of the Negative Arbitrage Account in an amount, taking into account amounts already on deposit therein, sufficient to pay interest due on the 2023A Bonds to the extended special redemption date (the “Extension Deposit”), and (ii) deliver to the Authority, the Trustee and the Rating Agency a Cash Flow Statement establishing the sufficiency of the Extension Deposit. Extension Deposits may continue to be made by or on behalf of the Borrower until the Risk-Share Insurance Delivery Date occurs or the Borrower declines to make an Extension Deposit resulting in the special redemption, at the direction of the Authority, pursuant to Section 3.3(a) hereof; provided, however, the special redemption date may not be extended to a date that is later than the third anniversary of the Closing Date unless prior to any extension beyond such date there shall be filed with the Trustee and the Authority an opinion of Bond Counsel to the effect that such extension will not adversely affect the exclusion of interest on the 2023A Bonds from gross income for federal income tax purposes. The cost of such opinion shall be the sole obligation and responsibility of the Borrower. (e) Notwithstanding the foregoing, the Bonds shall not be subject to redemption prior to the placed in service date of the Arvada House Housing Facility, so long as the placed in service date occurs prior to the Risk-Share Insurance Delivery Date.

Special Redemption. (a) In accordance with and for purposes of Section 5.2(e) hereof, the 2023A 2020B Bonds are subject to special redemption prior to maturity, in whole or in part, at any time on or before April 1, 2026 2023 pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b) hereof (or such later date as may be selected in accordance with Section 5.2(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2020B Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2023 2020 Series A B Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2023A 2020B Bonds in the Restricted Loan Subaccount. (b) The 2023A 2020B Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow Statement, in whole or in part, at any time, upon notice as provided in Section 3.4 of this 2020 Series B Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2020B Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2023 2020 Series A B subaccount of the Class I Special Redemption Account (other than as described in paragraph (a) above) and/or in the 2023 2020 Series A B subaccount of the Revenue Fund and available to be transferred to the 2023 2020 Series A B subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (c) The 2023A 2020B Bonds are subject to special redemption prior to maturity, in whole or in part, upon notice as provided in Section 3.4 of this 2020 Series B Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2020B Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, if and to the extent that the Arvada House Greyhound Park Loan has not been finally endorsed for insurance by the Federal Housing Administration under Section 542(c) of the Housing and Community Development Act of 1992, as amended, by the Risk-Share Insurance Delivery Date (or such later date to which the Authority may consent in writing). (d) . At any time prior to the date on which notice of redemption pursuant to this paragraph (dc) of Section 3.1 must be given as provided in Section 3.4 of this 2020 Series B Indenture, the Authority may extend the applicable special redemption date by providing an Authority Request filed with the Trustee of any extension of such special redemption date, along with a Confirmation from the Rating Agency of the then-current rating on the 2023A 2020B Bonds, provided that the Borrower shall be required to (i) deposit funds for the credit of the 2023 2020 Series A B subaccount of the Negative Arbitrage Account in an amount, taking into account amounts already on deposit therein, sufficient to pay interest due on the 2023A 2020B Bonds to the extended special redemption date (the “Extension Deposit”), and (ii) deliver to the Authority, the Trustee and the Rating Agency a Cash Flow Statement establishing the sufficiency of the Extension Deposit. Extension Deposits may continue to be made by or on behalf of the Borrower until the Risk-Share Insurance Delivery Date deadline occurs or the Borrower declines to make an Extension Deposit resulting in the special redemption, at the direction of the Authority, pursuant to this Section 3.3(a) hereof); provided, however, the special redemption date may not be extended to a date that is later than the third anniversary of the Closing Date unless prior to any extension beyond such date there shall be filed with the Trustee and the Authority an opinion of Bond Counsel to the effect that such extension will not adversely affect the exclusion of interest on the 2023A 2020B Bonds from gross income for federal income tax purposes. The cost of such opinion shall be the sole obligation and responsibility of the Borrower. (e) Notwithstanding the foregoing, the Bonds shall not be subject to redemption prior to the placed in service date of the Arvada House Housing Facility, so long as the placed in service date occurs prior to the Risk-Share Insurance Delivery Date.

Special Redemption. (a) In accordance with and for purposes of Section 5.2(e) hereof, the 2023A 2023B Bonds are subject to special redemption prior to maturity, in whole or in part, at any time on or before April October 1, 2026 pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b) hereof (or such later date as may be selected in accordance with Section 5.2(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2023B Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2023 Series A B Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2023A 2023B Bonds in the 2023 Series B Restricted Loan Subaccount. (b) In accordance with and for purposes of Section 5.3(e) hereof, the 2023C Bonds are subject to special redemption prior to maturity, in whole or in part, at any time on or before October 1, 2026 pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b) hereof (or such later date as may be selected in accordance with Section 5.3(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023C Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2023 Series C Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2023C Bonds in the 2023 Series C Restricted Loan Subaccount. (c) The 2023A 2023B Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow Statement, in whole or in part, at any time, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2023B Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2023 Series A B subaccount of the Class I Special Redemption Account (other than as described in paragraph (a) above) and/or in the 2023 Series A B subaccount of the Revenue Fund and available to be transferred to the 2023 Series A B subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (cd) The 2023A 2023C Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow Statement, in whole or in part, at any time, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023C Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2023 Series C subaccount of the Class I Special Redemption Account (other than as described in paragraph (b) above) and/or in the 2023 Series C subaccount of the Revenue Fund and available to be transferred to the 2023 Series C subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (e) The 2023B-1 Bonds are subject to special redemption prior to maturity, in whole or in part, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2023B-1 Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, if and to the extent that the Arvada House Sapling Grove Risk Share Program Loan has not been finally endorsed for insurance by the Federal Housing Administration under Section 542(c) of the Housing and Community Development Act of 1992, as amended, by the Risk-Share Insurance Delivery Date (or such later date to which the Authority may consent in writing). (d) At any time prior to the date on which notice of redemption pursuant to this paragraph (d) of Section 3.1 must be given as provided in Section 3.4 of this Series Indenture, the . The Authority may extend the applicable special redemption date by providing an Authority Request filed with the Trustee of any extension of such special redemption date, along with a Confirmation from the Rating Agency of the then-current rating on the 2023A Bonds, provided that the Borrower shall may be required at the direction of the Authority to (i) deposit funds for the credit of the 2023 Series A B subaccount of the Negative Arbitrage Account in an amount, taking into account amounts already on deposit therein, sufficient to pay interest due on the 2023A 2023B-1 Bonds to the extended special redemption date (the “Extension Deposit”), and (ii) deliver to the Authority, the Trustee and the Rating Agency a Cash Flow Statement establishing the sufficiency of the Extension Deposit. Extension Deposits may continue to be made by or on behalf of the Borrower until the Risk-Share Insurance Delivery Date occurs or the Borrower declines to make an Extension Deposit resulting in the special redemption, at the direction of the Authority, pursuant to Section 3.3(a) hereof; provided, however, the special redemption date may not be extended to a date that is later than the third anniversary of the Closing Date unless prior to any extension beyond such date there shall be filed with the Trustee and the Authority an opinion of Bond Counsel to the effect that such extension will not adversely affect the exclusion of interest on the 2023A 2023B-1 Bonds from gross income for federal income tax purposes. The cost of such opinion shall be the sole obligation and responsibility of the Borrower. (e) Notwithstanding the foregoing, the Bonds shall not be subject to redemption prior to the placed in service date of the Arvada House Housing Facility, so long as the placed in service date occurs prior to the Risk-Share Insurance Delivery Date.

Special Redemption. (a) In accordance with and for purposes of Section 5.2(e) hereof, the 2023A 2019B Bonds are subject to special redemption prior to maturity, in whole or in part, part at any time on or before April October 1, 2026 2021 pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b) hereof (or such later date as may be selected in accordance with Section 5.2(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2019B Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2023 2019 Series A B Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2023A 2019B Bonds in the Restricted Loan Subaccount. (b) The 2023A 2019B Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow Statement, in whole or in part, part at any time, upon notice as provided in Section 3.4 of this 2019 Series B Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2019B Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2023 2019 Series A B subaccount of the Class I Special Redemption Account (other than as described in paragraph (ai) above) and/or in the 2023 2019 Series A B subaccount of the Revenue Fund and available to be transferred to the 2023 2019 Series A B subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (c) The 2023A Bonds are subject to special redemption prior to maturity, in whole or in part, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, if and to the extent that the Arvada House Loan has not been finally endorsed for insurance by the Federal Housing Administration under Section 542(c) of the Housing and Community Development Act of 1992, as amended, by the Risk-Share Insurance Delivery Date (or such later date to which the Authority may consent in writing). (d) At any time prior to the date on which notice of redemption pursuant to this paragraph (d) of Section 3.1 must be given as provided in Section 3.4 of this Series Indenture, the Authority may extend the applicable special redemption date by providing an Authority Request filed with the Trustee of any extension of such special redemption date, along with a Confirmation from the Rating Agency of the then-current rating on the 2023A Bonds, provided that the Borrower shall be required to (i) deposit funds for the credit of the 2023 Series A subaccount of the Negative Arbitrage Account in an amount, taking into account amounts already on deposit therein, sufficient to pay interest due on the 2023A Bonds to the extended special redemption date (the “Extension Deposit”), and (ii) deliver to the Authority, the Trustee and the Rating Agency a Cash Flow Statement establishing the sufficiency of the Extension Deposit. Extension Deposits may continue to be made by or on behalf of the Borrower until the Risk-Share Insurance Delivery Date occurs or the Borrower declines to make an Extension Deposit resulting in the special redemption, at the direction of the Authority, pursuant to Section 3.3(a) hereof; provided, however, the special redemption date may not be extended to a date that is later than the third anniversary of the Closing Date unless prior to any extension beyond such date there shall be filed with the Trustee and the Authority an opinion of Bond Counsel to the effect that such extension will not adversely affect the exclusion of interest on the 2023A Bonds from gross income for federal income tax purposes. The cost of such opinion shall be the sole obligation and responsibility of the Borrower. (e) Notwithstanding the foregoing, the Bonds shall not be subject to redemption prior to the placed in service date of the Arvada House Housing Facility, so long as the placed in service date occurs prior to the Risk-Share Insurance Delivery Date.

Special Redemption. (a) In accordance with and for purposes of Section 5.2(e5.3(e) hereof, the 2023A 2020C Bonds are subject to special redemption prior to maturity, in whole or in part, at any time on or before April May 1, 2026 2023 pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b5.3(b) hereof (or such later date as may be selected in accordance with Section 5.2(e5.3(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2020C Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2023 2020 Series A C Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2023A 2020C Bonds in the Restricted Loan Subaccount. (b) The 2023A 2020C Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow Statement, in whole or in part, at any time, upon notice as provided in Section 3.4 of this 2020 Series C Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2020C Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2023 2020 Series A C subaccount of the Class I Special Redemption Account (other than as described in paragraph (a) above) and/or in the 2023 2020 Series A C subaccount of the Revenue Fund and available to be transferred to the 2023 2020 Series A C subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (c) The 2023A 2020C Bonds are subject to special redemption prior to maturity, in whole or in part, upon notice as provided in Section 3.4 of this 2020 Series C Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2020C Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, if and to the extent that the Arvada House ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ Loan has not been finally endorsed for insurance by the Federal Housing Administration under Section 542(c) of the Housing and Community Development Act of 1992, as amended, by the Risk-Share Insurance Delivery Date (or such later date to which the Authority may consent in writing). (d) . At any time prior to the date on which notice of redemption pursuant to this paragraph (dc) of Section 3.1 must be given as provided in Section 3.4 of this 2020 Series C Indenture, the Authority may extend the applicable special redemption date by providing an Authority Request filed with the Trustee of any extension of such special redemption date, along with a Confirmation from the Rating Agency of the then-current rating on the 2023A 2020C Bonds, provided that the Borrower shall be required to (i) deposit funds for the credit of the 2023 2020 Series A C subaccount of the Negative Arbitrage Account in an amount, taking into account amounts already on deposit therein, sufficient to pay interest due on the 2023A 2020C Bonds to the extended special redemption date (the “Extension Deposit”), and (ii) deliver to the Authority, the Trustee and the Rating Agency a Cash Flow Statement establishing the sufficiency of the Extension Deposit. Extension Deposits may continue to be made by or on behalf of the Borrower until the Risk-Share Insurance Delivery Date occurs or the Borrower declines to make an Extension Deposit resulting in the special redemption, at the direction of the Authority, pursuant to Section 3.3(a) hereof; provided, however, the special redemption date may not be extended to a date that is later than the third anniversary of the Closing Date unless prior to any extension beyond such date there shall be filed with the Trustee and the Authority an opinion of Bond Counsel to the effect that such extension will not adversely affect the exclusion of interest on the 2023A 2020C Bonds from gross income for federal income tax purposes. The cost of such opinion shall be the sole obligation and responsibility of the Borrower. (e) Notwithstanding the foregoing, the Bonds shall not be subject to redemption prior to the placed in service date of the Arvada House Housing Facility, so long as the placed in service date occurs prior to the Risk-Share Insurance Delivery Date.

Special Redemption. (a) In accordance with and for purposes of Section 5.2(e) hereof, the 2023A 2021A Bonds are subject to special redemption prior to maturity, in whole or in part, at any time on or before April 1, 2026 2024 pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b) hereof (or such later date as may be selected in accordance with Section 5.2(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2021A Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2023 2021 Series A Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2023A 2021A Bonds in the 2021 Series A Restricted Loan Subaccount. (b) In accordance with and for purposes of Section 5.3(e) hereof, the 2021B Bonds are subject to special redemption prior to maturity, in whole or in part, at any time on or before April 1, 2024 pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b) hereof (or such later date as may be selected in accordance with Section 5.3(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2021B Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2021 Series B Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2021B Bonds in the 2021 Series B Restricted Loan Subaccount. (c) The 2023A 2021A Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow Statement, in whole or in part, at any time, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2021A Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2023 2021 Series A subaccount of the Class I Special Redemption Account (other than as described in paragraph (a) above) and/or in the 2023 2021 Series A subaccount of the Revenue Fund and available to be transferred to the 2023 2021 Series A subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (cd) The 2023A 2021B Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow Statement, in whole or in part, at any time, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2021B Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2021 Series B subaccount of the Class I Special Redemption Account (other than as described in paragraph (b) above) and/or in the 2021 Series B subaccount of the Revenue Fund and available to be transferred to the 2021 Series B subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (e) The 2021A Bonds are subject to special redemption prior to maturity, in whole or in part, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2021A Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, if and to the extent that the Arvada House Reserves at Green Valley Ranch Risk Share Program Loan has not been finally endorsed for insurance by the Federal Housing Administration under Section 542(c) of the Housing and Community Development Act of 1992, as amended, by the Risk-Share Insurance Delivery Date (or such later date to which the Authority may consent in writing). (d) . At any time prior to the date on which notice of redemption pursuant to this paragraph (d) of Section 3.1 must be given as provided in Section 3.4 of this Series Indenture, the Authority may extend the applicable special redemption date by providing an Authority Request filed with the Trustee of any extension of such special redemption date, along with a Confirmation from the Rating Agency of the then-current rating on the 2023A 2021A Bonds, provided that the Borrower shall be required to (i) deposit funds for the credit of the 2023 2021 Series A subaccount of the Negative Arbitrage Account in an amount, taking into account amounts already on deposit therein, sufficient to pay interest due on the 2023A 2021A Bonds to the extended special redemption date (the “Extension Deposit”), and (ii) deliver to the Authority, the Trustee and the Rating Agency a Cash Flow Statement establishing the sufficiency of the Extension Deposit. Extension Deposits may continue to be made by or on behalf of the Borrower until the Risk-Share Insurance Delivery Date occurs or the Borrower declines to make an Extension Deposit resulting in the special redemption, at the direction of the Authority, pursuant to Section 3.3(a) hereof; provided, however, the special redemption date may not be extended to a date that is later than the third anniversary of the Closing Date unless prior to any extension beyond such date there shall be filed with the Trustee and the Authority an opinion of Bond Counsel to the effect that such extension will not adversely affect the exclusion of interest on the 2023A 2021A Bonds from gross income for federal income tax purposes. The cost of such opinion shall be the sole obligation and responsibility of the Borrower. (e) Notwithstanding the foregoing, the Bonds shall not be subject to redemption prior to the placed in service date of the Arvada House Housing Facility, so long as the placed in service date occurs prior to the Risk-Share Insurance Delivery Date.

Special Redemption. (a) In accordance with and for purposes of Section 5.2(e) hereof, the 2023A 2023D Bonds are subject to special redemption prior to maturity, in whole or in part, at any time on or before April October 1, 2026 pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b) hereof (or such later date as may be selected in accordance with Section 5.2(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2023D Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2023 Series A D Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2023A 2023D Bonds in the 2023 Series D Restricted Loan Subaccount. (b) In accordance with and for purposes of Section 5.3(e) hereof, the 2023E Bonds are subject to special redemption prior to maturity, in whole or in part, at any time on or before October 1, 2026 pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b) hereof (or such later date as may be selected in accordance with Section 5.3(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023E Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2023 Series E Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2023E Bonds in the 2023 Series E Restricted Loan Subaccount. (c) The 2023A 2023D Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow Statement, in whole or in part, at any time, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2023D Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2023 Series A D subaccount of the Class I Special Redemption Account (other than as described in paragraph (a) above) and/or in the 2023 Series A D subaccount of the Revenue Fund and available to be transferred to the 2023 Series A D subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (cd) The 2023A 2023E Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow Statement, in whole or in part, at any time, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023E Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2023 Series E subaccount of the Class I Special Redemption Account (other than as described in paragraph (b) above) and/or in the 2023 Series E subaccount of the Revenue Fund and available to be transferred to the 2023 Series E subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (e) The 2023D-1 Bonds are subject to special redemption prior to maturity, in whole or in part, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2023D-1 Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, if and to the extent that the Arvada House Residences at Durango Permanent Loan has not been finally endorsed for insurance by the Federal Housing Administration under Section 542(c) of the Housing and Community Development Act of 1992, as amended, by the Risk-Share Insurance Delivery Date (or such later date to which the Authority may consent in writing). (d) At any time prior to the date on which notice of redemption pursuant to this paragraph (d) of Section 3.1 must be given as provided in Section 3.4 of this Series Indenture, the . The Authority may extend the applicable special redemption date by providing an Authority Request filed with the Trustee of any extension of such special redemption date, along with a Confirmation from the Rating Agency of the then-current rating on the 2023A Bonds, provided that the Borrower shall may be required at the direction of the Authority to (i) deposit funds for the credit of the 2023 Series A D subaccount of the Negative Arbitrage Account in an amount, taking into account amounts already on deposit therein, sufficient to pay interest due on the 2023A 2023D-1 Bonds to the extended special redemption date (the “Extension Deposit”), and (ii) deliver to the Authority, the Trustee and the Rating Agency a Cash Flow Statement establishing the sufficiency of the Extension Deposit. Extension Deposits may continue to be made by or on behalf of the Borrower until the Risk-Share Insurance Delivery Date occurs or the Borrower declines to make an Extension Deposit resulting in the special redemption, at the direction of the Authority, pursuant to Section 3.3(a) hereof; provided, however, the special redemption date may not be extended to a date that is later than the third anniversary of the Closing Date unless prior to any extension beyond such date there shall be filed with the Trustee and the Authority an opinion of Bond Counsel to the effect that such extension will not adversely affect the exclusion of interest on the 2023A 2023D-1 Bonds from gross income for federal income tax purposes. The cost of such opinion shall be the sole obligation and responsibility of the Borrower. (e) Notwithstanding the foregoing, the Bonds shall not be subject to redemption prior to the placed in service date of the Arvada House Housing Facility, so long as the placed in service date occurs prior to the Risk-Share Insurance Delivery Date.

Special Redemption. (a) In accordance with and for purposes of Section 5.2(e) hereof, the 2023A 2020A Bonds are subject to special redemption prior to maturity, in whole or in part, at any time on or before April May 1, 2026 2022 pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b) hereof (or such later date as may be selected in accordance with Section 5.2(e) hereof) upon notice as provided in Section 3.4 3.6 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2020A Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2023 2020 Series A Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2023A 2020A Bonds in the Restricted Loan Subaccount. (b) The 2023A 2020A Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow Statement, in whole or in part, at any time, upon notice as provided in Section 3.4 3.6 of this 2020 Series A Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2020A Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2023 2020 Series A subaccount of the Class I Special Redemption Account (other than as described in paragraph (a) above) and/or in the 2023 2020 Series A subaccount of the Revenue Fund and available to be transferred to the 2023 2020 Series A subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 3.6 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (c) The 2023A 2020A-1 Bonds are subject to special redemption prior to maturity, in whole or in part, upon notice as provided in Section 3.4 3.6 of this 2020 Series A Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2020A-1 Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, if and to the extent that the Arvada House Golden West Loan has not been finally endorsed for insurance by the Federal Housing Administration under Section 542(c) of the Housing and Community Development Act of 1992, as amended, by the Risk-Share Insurance Delivery Date (or such later date to which the Authority may consent in writing). (d) . At any time prior to the date on which notice of redemption pursuant to this paragraph (dc) of Section 3.1 must be given as provided in Section 3.4 3.6 of this 2020 Series A Indenture, the Authority may extend the applicable special redemption date by providing an Authority Request filed with the Trustee of any extension of such special redemption date, along with a Confirmation from the Rating Agency of the then-current rating on the 2023A Bonds, provided that the Borrower shall be required to (i) deposit funds for the credit of the 2023 2020 Series A subaccount of the Negative Arbitrage Account in an amount, taking into account amounts already on deposit therein, sufficient to pay interest due on the 2023A 2020A Bonds to the extended special redemption date (the “Extension Deposit”), and (ii) deliver to the Authority, the Trustee and the Rating Agency a Cash Flow Statement establishing the sufficiency of the Extension Deposit, and (iii) deliver to the Trustee a Confirmation from the Rating Agency of the then-current rating on the 2020A Bonds. Extension Deposits may continue to be made by or on behalf of the Borrower until the Risk-Share Sharing Insurance Delivery Date occurs or the Borrower declines to make an Extension Deposit resulting in the special redemption, at the direction of the Authority, pursuant to this Section 3.3(a) hereof3.1; provided, however, the special redemption date may not be extended to a date that is later than the third anniversary of the Closing Date unless prior to any extension beyond such date there shall be filed with the Trustee and the Authority an opinion of Bond Counsel to the effect that such extension will not adversely affect the exclusion of interest on the 2023A 2020A Bonds from gross income for federal income tax purposes. The cost of such opinion shall be the sole obligation and responsibility of the Borrower. (e) Notwithstanding the foregoing, the Bonds shall not be subject to redemption prior to the placed in service date of the Arvada House Housing Facility, so long as the placed in service date occurs prior to the Risk-Share Insurance Delivery Date.

Special Redemption. (a) In accordance with and for purposes of Section 5.2(e5.3(e) hereof, the 2023A 2025E Bonds are subject to special redemption prior to maturity, in whole or in part, at any time on or before April October 1, 2026 2029 pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b5.3(b) hereof (or such later date as may be selected in accordance with Section 5.2(e5.3(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2025E Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2023 2025 Series A E Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2023A 2025E Bonds in the Restricted Loan Subaccount. (b) The 2023A 2025E Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow StatementStatement (as defined in the Indenture), in whole or in part, at any time, upon notice as provided in Section 3.4 of this 2025 Series E Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2025E Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2023 2025 Series A E subaccount of the Class I Special Redemption Account (other than as described in paragraph (a) above) and/or in the 2023 2025 Series A E subaccount of the Revenue Fund and available to be transferred to the 2023 2025 Series A E subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (c) The 2023A 2025E Bonds are subject to special redemption prior to maturity, in whole or in part, upon notice as provided in Section 3.4 of this 2025 Series E Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2025E Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, if and to the extent that the Arvada House ▇▇▇▇▇▇▇▇ Pointe Loan has not been finally endorsed for insurance by the Federal Housing Administration under Section 542(c) of the Housing and Community Development Act of 1992, as amended, by the Risk-Share Insurance Delivery Date (or such later date to which the Authority may consent in writing). , or earlier in the event of a Failed Conversion (d) At any time prior to as described in the date on which notice of redemption pursuant to this paragraph (d) of Section 3.1 must be given as provided in Section 3.4 of this Series Indenture, the Bond Loan Agreement). The Authority may extend the applicable special redemption date by providing an Authority Request filed with the Trustee of any extension of such special redemption date, along with a Confirmation from the Rating Agency of the then-current rating on the 2023A Bonds, provided that the Borrower shall may be required at the direction of the Authority to (i) deposit funds for the credit of the 2023 2025 Series A E subaccount of the Negative Arbitrage Account in an amount, taking into account amounts already on deposit therein, sufficient to pay interest due on the 2023A 2025E-1 Bonds to the extended special redemption date (the “Extension Deposit”), and (ii) deliver to the Authority, the Trustee and the Rating Agency a Cash Flow Statement establishing the sufficiency of the Extension Deposit. Extension Deposits may continue to be made by or on behalf of the Borrower until the Risk-Share Insurance Delivery Date occurs or the Borrower declines to make an Extension Deposit resulting in the special redemption, at the direction of the Authority, pursuant to Section 3.3(a) hereof; provided, however, the special redemption date may not be extended to a date that is later than the third anniversary of the Closing Date unless prior to any extension beyond such date there shall be filed with the Trustee and the Authority an opinion of Bond Counsel to the effect that such extension will not adversely affect the exclusion of interest on the 2023A 2025E-1 Bonds from gross income for federal income tax purposes. The cost of such opinion shall be the sole obligation and responsibility of the Borrower. (e) Notwithstanding the foregoing, the Bonds shall not be subject to redemption prior to the placed in service date of the Arvada House Housing Facility, so long as the placed in service date occurs prior to the Risk-Share Insurance Delivery Date.

Special Redemption. (a) In accordance with and for purposes of Section 5.2(e) hereof, the 2023A 2019A Bonds are subject to special redemption prior to maturity, in whole or in part, part at any time on or before April October 1, 2026 2021 pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b) hereof (or such later date as may be selected in accordance with Section 5.2(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2019A-1 Bonds and the 2019A-2 Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2023 2019 Series A Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2023A 2019A Bonds in the Restricted Loan Subaccount. (b) The 2023A 2019A Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow Statement, in whole or in part, part at any time, upon notice as provided in Section 3.4 of this 2019 Series A Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2019A Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2023 2019 Series A subaccount of the Class I Special Redemption Account (other than as described in paragraph (ai) above) and/or in the 2023 2019 Series A subaccount of the Revenue Fund and available to be transferred to the 2023 2019 Series A subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (c) The 2023A Bonds are subject to special redemption prior to maturity, in whole or in part, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, if and to the extent that the Arvada House Loan has not been finally endorsed for insurance by the Federal Housing Administration under Section 542(c) of the Housing and Community Development Act of 1992, as amended, by the Risk-Share Insurance Delivery Date (or such later date to which the Authority may consent in writing). (d) At any time prior to the date on which notice of redemption pursuant to this paragraph (d) of Section 3.1 must be given as provided in Section 3.4 of this Series Indenture, the Authority may extend the applicable special redemption date by providing an Authority Request filed with the Trustee of any extension of such special redemption date, along with a Confirmation from the Rating Agency of the then-current rating on the 2023A Bonds, provided that the Borrower shall be required to (i) deposit funds for the credit of the 2023 Series A subaccount of the Negative Arbitrage Account in an amount, taking into account amounts already on deposit therein, sufficient to pay interest due on the 2023A Bonds to the extended special redemption date (the “Extension Deposit”), and (ii) deliver to the Authority, the Trustee and the Rating Agency a Cash Flow Statement establishing the sufficiency of the Extension Deposit. Extension Deposits may continue to be made by or on behalf of the Borrower until the Risk-Share Insurance Delivery Date occurs or the Borrower declines to make an Extension Deposit resulting in the special redemption, at the direction of the Authority, pursuant to Section 3.3(a) hereof; provided, however, the special redemption date may not be extended to a date that is later than the third anniversary of the Closing Date unless prior to any extension beyond such date there shall be filed with the Trustee and the Authority an opinion of Bond Counsel to the effect that such extension will not adversely affect the exclusion of interest on the 2023A Bonds from gross income for federal income tax purposes. The cost of such opinion shall be the sole obligation and responsibility of the Borrower. (e) Notwithstanding the foregoing, the Bonds shall not be subject to redemption prior to the placed in service date of the Arvada House Housing Facility, so long as the placed in service date occurs prior to the Risk-Share Insurance Delivery Date.

Special Redemption. (a) In accordance with and for purposes of Section 5.2(e) hereof, the 2023A 2024C Bonds are subject to special redemption prior to maturity, in whole or in part, at any time on or before April October 1, 2026 2027, pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b) hereof (or such later date as may be selected in accordance with Section 5.2(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2024C Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2023 2024 Series A C Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2023A 2024C Bonds in the 2024 Series C Restricted Loan Subaccount. (b) In accordance with and for purposes of Section 5.3(e) hereof, the 2024D Bonds are subject to special redemption prior to maturity, in whole or in part, at any time on or before October 1, 2027, pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b) hereof (or such later date as may be selected in accordance with Section 5.3(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2024D Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2024 Series D Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2024D Bonds in the 2024 Series D Restricted Loan Subaccount. (c) The 2023A 2024C Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow Statement (as defined in the Indenture), in whole or in part, at any time, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2024C Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2024 Series C subaccount of the Class I Special Redemption Account (other than as described in paragraph (a) above) and/or in the 2024 Series C subaccount of the Revenue Fund and available to be transferred to the 2024 Series C subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (d) The 2024D Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow Statement, in whole or in part, at any time, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2024D Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2023 2024 Series A D subaccount of the Class I Special Redemption Account (other than as described in paragraph (ab) above) and/or in the 2023 2024 Series A D subaccount of the Revenue Fund and available to be transferred to the 2023 2024 Series A D subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (ce) The 2023A 2024C-1 Bonds are subject to special redemption prior to maturity, in whole or in part, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2024C-1 Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, if and to the extent that the Arvada House Weatherstone Risk Share Program Loan has not been finally endorsed for insurance by the Federal Housing Administration under Section 542(c) of the Housing and Community Development Act of 1992, as amended, by the Risk-Share Insurance Delivery Date (or such later date to which the Authority may consent in writing). (d) At any time prior to the date on which notice of redemption pursuant to this paragraph (d) of Section 3.1 must be given as provided in Section 3.4 of this Series Indenture, the . The Authority may extend the applicable special redemption date by providing an Authority Request filed with the Trustee of any extension of such special redemption date, along with a Confirmation from the Rating Agency of the then-current rating on the 2023A Bonds, provided that the Borrower shall may be required at the direction of the Authority to (i) deposit funds for the credit of the 2023 2024 Series A C subaccount of the Negative Arbitrage Account in an amount, taking into account amounts already on deposit therein, sufficient to pay interest due on the 2023A 2024C-1 Bonds to the extended special redemption date (the “Extension Deposit”), and (ii) deliver to the Authority, the Trustee and the Rating Agency a Cash Flow Statement establishing the sufficiency of the Extension Deposit. Extension Deposits may continue to be made by or on behalf of the Borrower until the Risk-Share Insurance Delivery Date occurs or the Borrower declines to make an Extension Deposit resulting in the special redemption, at the direction of the Authority, pursuant to Section 3.3(a) hereof; provided, however, the special redemption date may not be extended to a date that is later than the third anniversary of the Closing Date unless prior to any extension beyond such date there shall be filed with the Trustee and the Authority an opinion of Bond Counsel to the effect that such extension will not adversely affect the exclusion of interest on the 2023A 2024C-1 Bonds from gross income for federal income tax purposes. The cost of such opinion shall be the sole obligation and responsibility of the Borrower. (e) Notwithstanding the foregoing, the Bonds shall not be subject to redemption prior to the placed in service date of the Arvada House Housing Facility, so long as the placed in service date occurs prior to the Risk-Share Insurance Delivery Date.

Special Redemption. (a) In accordance with and for purposes of Section 5.2(e) hereof, the 2023A 2021E Bonds are subject to special redemption prior to maturity, in whole or in part, at any time on or before April 1, 2026 2024 pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b) hereof (or such later date as may be selected in accordance with Section 5.2(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2021E Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2023 2021 Series A E Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2023A 2021E Bonds in the Restricted Loan Subaccount. (b) The 2023A 2021E Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow Statement, in whole or in part, at any time, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2021E Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2023 2021 Series A E subaccount of the Class I Special Redemption Account (other than as described in paragraph (a) above) and/or in the 2023 2021 Series A E subaccount of the Revenue Fund and available to be transferred to the 2023 2021 Series A E subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (c) The 2023A 2021E-1 Bonds are subject to special redemption prior to maturity, in whole or in part, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2021E-1 Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, if and to the extent that the Arvada House ▇▇▇▇▇ Valley Townhomes Loan has not been finally endorsed for insurance by the Federal Housing Administration under Section 542(c) of the Housing and Community Development Act of 1992, as amended, by the Risk-Share Insurance Delivery Date (or such later date to which the Authority may consent in writing). (d) . At any time prior to the date on which notice of redemption pursuant to this paragraph (d) of Section 3.1 must be given as provided in Section 3.4 of this Series Indenture, the Authority may extend the applicable special redemption date by providing an Authority Request filed with the Trustee of any extension of such special redemption date, along with a Confirmation from the Rating Agency of the then-current rating on the 2023A 2021E-1 Bonds, provided that the Borrower shall be required to (i) deposit funds for the credit of the 2023 2021 Series A E subaccount of the Negative Arbitrage Account in an amount, taking into account amounts already on deposit therein, sufficient to pay interest due on the 2023A 2021E-1 Bonds to the extended special redemption date (the “Extension Deposit”), and (ii) deliver to the Authority, the Trustee and the Rating Agency a Cash Flow Statement establishing the sufficiency of the Extension Deposit. Extension Deposits may continue to be made by or on behalf of the Borrower until the Risk-Share Insurance Delivery Date occurs or the Borrower declines to make an Extension Deposit resulting in the special redemption, at the direction of the Authority, pursuant to Section 3.3(a) hereof; provided, however, the special redemption date may not be extended to a date that is later than the third anniversary of the Closing Date unless prior to any extension beyond such date there shall be filed with the Trustee and the Authority an opinion of Bond Counsel to the effect that such extension will not adversely affect the exclusion of interest on the 2023A 2021E-1 Bonds from gross income for federal income tax purposes. The cost of such opinion shall be the sole obligation and responsibility of the Borrower. (e) Notwithstanding the foregoing, the Bonds shall not be subject to redemption prior to the placed in service date of the Arvada House Housing Facility, so long as the placed in service date occurs prior to the Risk-Share Insurance Delivery Date.

Special Redemption. (a) In accordance with and for purposes of Section 5.2(e) hereof, the 2023A 2025A Bonds are subject to special redemption prior to maturity, in whole or in part, at any time on or before April December 1, 2026 2027 pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b) hereof (or such later date as may be selected in accordance with Section 5.2(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2025A Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2023 2025 Series A Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2023A 2025A Bonds in the 2025 Series A Restricted Loan Subaccount. (b) In accordance with and for purposes of Section 5.3(e) hereof, the 2025B Bonds are subject to special redemption prior to maturity, in whole or in part, at any time on or before December 1, 2027 pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b) hereof (or such later date as may be selected in accordance with Section 5.3(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2025B Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2025 Series B Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2025B Bonds in the 2025 Series B Restricted Loan Subaccount. (c) The 2023A 2025A Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow StatementStatement (as defined in the Indenture), in whole or in part, at any time, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2025A Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2023 2025 Series A subaccount of the Class I Special Redemption Account (other than as described in paragraph (a) above) and/or in the 2023 2025 Series A subaccount of the Revenue Fund and available to be transferred to the 2023 2025 Series A subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (cd) The 2023A 2025B Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow Statement, in whole or in part, at any time, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2025B Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2025 Series B subaccount of the Class I Special Redemption Account (other than as described in paragraph (b) above) and/or in the 2025 Series B subaccount of the Revenue Fund and available to be transferred to the 2025 Series B subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (e) The 2025A-1 Bonds are subject to special redemption prior to maturity, in whole or in part, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2025A-1 Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, if and to the extent that the Arvada House ▇▇▇▇▇▇ Station Risk Share Program Loan has not been finally endorsed for insurance by the Federal Housing Administration under Section 542(c) of the Housing and Community Development Act of 1992, as amended, by the Risk-Share Insurance Delivery Date (or such later date to which the Authority may consent in writing). (d) At any time prior to the date on which notice of redemption pursuant to this paragraph (d) of Section 3.1 must be given as provided in Section 3.4 of this Series Indenture, the . The Authority may extend the applicable special redemption date by providing an Authority Request filed with the Trustee of any extension of such special redemption date, along with a Confirmation from the Rating Agency of the then-current rating on the 2023A Bonds, provided that the Borrower shall may be required at the direction of the Authority to (i) deposit funds for the credit of the 2023 2025 Series A subaccount of the Negative Arbitrage Account in an amount, taking into account amounts already on deposit therein, sufficient to pay interest due on the 2023A 2025A-1 Bonds to the extended special redemption date (the “Extension Deposit”), and (ii) deliver to the Authority, the Trustee and the Rating Agency a Cash Flow Statement establishing the sufficiency of the Extension Deposit. Extension Deposits may continue to be made by or on behalf of the Borrower until the Risk-Share Insurance Delivery Date occurs or the Borrower declines to make an Extension Deposit resulting in the special redemption, at the direction of the Authority, pursuant to Section 3.3(a) hereof; provided, however, the special redemption date may not be extended to a date that is later than the third anniversary of the Closing Date unless prior to any extension beyond such date there shall be filed with the Trustee and the Authority an opinion of Bond Counsel to the effect that such extension will not adversely affect the exclusion of interest on the 2023A 2025A-1 Bonds from gross income for federal income tax purposes. The cost of such opinion shall be the sole obligation and responsibility of the Borrower. (e) Notwithstanding the foregoing, the Bonds shall not be subject to redemption prior to the placed in service date of the Arvada House Housing Facility, so long as the placed in service date occurs prior to the Risk-Share Insurance Delivery Date.

Special Redemption. (a) In accordance with and for purposes of Section 5.2(e) hereof, the 2023A 2021C Bonds are subject to special redemption prior to maturity, in whole or in part, at any time on or before April 1, 2026 2023 pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b) hereof (or such later date as may be selected in accordance with Section 5.2(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2021C Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2023 2021 Series A C Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2023A 2021C Bonds in the 2021 Series C Restricted Loan Subaccount. (b) In accordance with and for purposes of Section 5.3(e) hereof, the 2021D Bonds are subject to special redemption prior to maturity, in whole or in part, at any time on or before April 1, 2023 pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b) hereof (or such later date as may be selected in accordance with Section 5.3(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2021D Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2021 Series D Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2021D Bonds in the 2021 Series D Restricted Loan Subaccount. (c) The 2023A 2021C Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow Statement, in whole or in part, at any time, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2021C Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2023 2021 Series A C subaccount of the Class I Special Redemption Account (other than as described in paragraph (a) above) and/or in the 2023 2021 Series A C subaccount of the Revenue Fund and available to be transferred to the 2023 2021 Series A C subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (cd) The 2023A 2021D Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow Statement, in whole or in part, at any time, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2021D Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2021 Series D subaccount of the Class I Special Redemption Account (other than as described in paragraph (b) above) and/or in the 2021 Series D subaccount of the Revenue Fund and available to be transferred to the 2021 Series D subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (e) The 2021C-1 Bonds are subject to special redemption prior to maturity, in whole or in part, upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2021C-1 Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, if and to the extent that the Arvada House Atlantis Apartments II Risk Share Program Loan has not been finally endorsed for insurance by the Federal Housing Administration under Section 542(c) of the Housing and Community Development Act of 1992, as amended, by the Risk-Share Insurance Delivery Date (or such later date to which the Authority may consent in writing). (d) . At any time prior to the date on which notice of redemption pursuant to this paragraph (d) of Section 3.1 must be given as provided in Section 3.4 of this Series Indenture, the Authority may extend the applicable special redemption date by providing an Authority Request filed with the Trustee of any extension of such special redemption date, along with a Confirmation from the Rating Agency of the then-current rating on the 2023A 2021C-1 Bonds, provided that the Borrower shall be required to (i) deposit funds for the credit of the 2023 2021 Series A C subaccount of the Negative Arbitrage Account in an amount, taking into account amounts already on deposit therein, sufficient to pay interest due on the 2023A 2021C-1 Bonds to the extended special redemption date (the “Extension Deposit”), and (ii) deliver to the Authority, the Trustee and the Rating Agency a Cash Flow Statement establishing the sufficiency of the Extension Deposit. Extension Deposits may continue to be made by or on behalf of the Borrower until the Risk-Share Insurance Delivery Date occurs or the Borrower declines to make an Extension Deposit resulting in the special redemption, at the direction of the Authority, pursuant to Section 3.3(a) hereof; provided, however, the special redemption date may not be extended to a date that is later than the third anniversary of the Closing Date unless prior to any extension beyond such date there shall be filed with the Trustee and the Authority an opinion of Bond Counsel to the effect that such extension will not adversely affect the exclusion of interest on the 2023A 2021C-1 Bonds from gross income for federal income tax purposes. The cost of such opinion shall be the sole obligation and responsibility of the Borrower. (e) Notwithstanding the foregoing, the Bonds shall not be subject to redemption prior to the placed in service date of the Arvada House Housing Facility, so long as the placed in service date occurs prior to the Risk-Share Insurance Delivery Date.

Special Redemption. (a) In accordance with and for purposes of Section 5.2(e5.3(e) hereof, the 2023A 2020E Bonds are subject to special redemption prior to maturity, in whole or in part, at any time on or before April October 1, 2026 2023 pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for the purposes stated in Section 5.2(b5.3(b) hereof (or such later date as may be selected in accordance with Section 5.2(e5.3(e) hereof) upon notice as provided in Section 3.4 of this Series Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2020E Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, from amounts transferred to the 2023 2020 Series A E Subaccount of the Class I Special Redemption Account from any unexpended proceeds of the 2023A 2020E Bonds in the Restricted Loan Subaccount. (b) The 2023A 2020E Bonds are subject to special redemption prior to maturity pursuant to an Authority Request filed with the Trustee confirming that such redemption is consistent with the most recently filed Cash Flow Statement, in whole or in part, at any time, upon notice as provided in Section 3.4 of this 2020 Series E Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2020E Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption from and to the extent there are moneys and/or Investment Securities in the 2023 2020 Series A E subaccount of the Class I Special Redemption Account (other than as described in paragraph (a) above) and/or in the 2023 2020 Series A E subaccount of the Revenue Fund and available to be transferred to the 2023 2020 Series A E subaccount of the Class I Special Redemption Account on or before the day that notice of redemption is given pursuant to Section 3.4 hereof, but not including moneys or Investment Securities in such subaccounts from the proceeds of refunding bonds or from other moneys of the Authority deposited into the Revenue Fund pursuant to the last sentence of Section 4.6(a) of the Master Indenture. (c) The 2023A 2020E Bonds are subject to special redemption prior to maturity, in whole or in part, upon notice as provided in Section 3.4 of this 2020 Series E Indenture, at a Redemption Price equal to 100% of the Aggregate Principal Amount of the 2023A 2020E Bonds or portions thereof to be so redeemed, together with accrued interest to the date of redemption, if and to the extent that the Arvada House Clare Gardens Apartments Loan has not been finally endorsed for insurance by the Federal Housing Administration under Section 542(c) of the Housing and Community Development Act of 1992, as amended, by the Risk-Share Insurance Delivery Date (or such later date to which the Authority may consent in writing). (d) . At any time prior to the date on which notice of redemption pursuant to this paragraph (dc) of Section 3.1 must be given as provided in Section 3.4 of this 2020 Series E Indenture, the Authority may extend the applicable special redemption date by providing an Authority Request filed with the Trustee of any extension of such special redemption date, along with a Confirmation from the Rating Agency of the then-current rating on the 2023A 2020E Bonds, provided that the Borrower shall be required to (i) deposit funds for the credit of the 2023 2020 Series A E subaccount of the Negative Arbitrage Account in an amount, taking into account amounts already on deposit therein, sufficient to pay interest due on the 2023A 2020E Bonds to the extended special redemption date (the “Extension Deposit”), and (ii) deliver to the Authority, the Trustee and the Rating Agency a Cash Flow Statement establishing the sufficiency of the Extension Deposit. Extension Deposits may continue to be made by or on behalf of the Borrower until the Risk-Share Insurance Delivery Date occurs or the Borrower declines to make an Extension Deposit resulting in the special redemption, at the direction of the Authority, pursuant to Section 3.3(a) hereof; provided, however, the special redemption date may not be extended to a date that is later than the third anniversary of the Closing Date unless prior to any extension beyond such date there shall be filed with the Trustee and the Authority an opinion of Bond Counsel to the effect that such extension will not adversely affect the exclusion of interest on the 2023A 2020E Bonds from gross income for federal income tax purposes. The cost of such opinion shall be the sole obligation and responsibility of the Borrower. (e) Notwithstanding the foregoing, the Bonds shall not be subject to redemption prior to the placed in service date of the Arvada House Housing Facility, so long as the placed in service date occurs prior to the Risk-Share Insurance Delivery Date.