PRILIMINARY OFFIC STATEMENT 11-15-2001 44.

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prior Monthly Taxes and Insurance Deposit); (d) Fourth,to the Senior Debt Service Account of the Bond Fund for the Senior Bonds,an amount equal to the sum of one-sixth(1/6th)of the interest coming due on the next Interest Payment Date and one-twelfth (1/12th) of the principal coming due on the next Principal Payment Date (including mandatory sinking fund payments), plus any unpaid interest and/or principal previously due and not deposited,plus any unrestored amounts previously withdrawn from the Senior Debt Service Account for transfer to the Taxes and Insurance Fund; (e) Fifth,to the Debt Service Reserve Fund, the amount,if any,required to restore the balance of the funds therein to an amount equal to the Debt Service Reserve Requirement; (f) Sixth, commencing in November 2003, to the Repair and Replacement Fund, an amount equal to the Monthly Repair and Replacement Deposit,plus any unpaid Monthly Repair and Replacement Deposit previously due and not paid,plus any unrestored amounts previously withdrawn from such fund for transfer to another fund as provided in the Indenture; provided that as against the Monthly Repair and Replacement Deposits the Borrower shall be given credit for the amount of costs that are properly payable from the Repair and Replacement Fund but which the Borrower has paid from sources other than amounts in the Repair and Replacement Fund,but only if the Borrower delivers to the Trustee written evidence of the payment of such costs,along with a written statement signed by the Authorized Borrower Representative that no person shall seek reimbursement or other payment for such costs from amounts in the Repair and Replacement Fund; (g) Seventh,to the Operating Reserve Fund,amounts sufficient to replace the bank letter of credit on deposit to the Operating Reserve Fund which was issued in an amount equal to the Operating Reserve Requirement,and then such amount,if any, required to restore the balance therein to an amount equal to the Operating Reserve Requirement; (h) Eighth, to the Subordinate Debt Service Account of the Bond Fund for the Subordinate Bonds, an amount equal to the sum of one-sixth (1/6th) of the interest coming due on the next Interest Payment Date, plus any unpaid interest and/or principal previously due and not deposited, plus any unrestored amounts previously withdrawn from the Subordinate Debt Service Account for transfer to the Taxes and Insurance Fund; (i) Ninth, to the Manager, any accrued and unpaid Subordinated Management Fee; and (i) Tenth, to the Surplus Fund, all remaining amounts in the Revenue Fund.