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BaakolAme&a Insurance: Lessee will provide, at its expense, casualty insurance (with such deductibles as Lessor may approve). Governmental Entity Lease: The Base Rent installments are calculated on the assumptions, and Lessee will represent, that Lessee is a state or political subdivision of a state within the meaning of Section I03(c) of the Internal Revenue Code (the "Code "), that this transaction will constitute an obligation of Lessee within the meaning of Section 103(a) of the Code, notwithstanding Section 103(b) of the Code. Lessee shall provide Lessor with such evidence as Lessor may request to substantiate and maintain such tax status. Lessee will indemnify Lessor, on an acts and omissions, and on an after -tax basis, against any loss of Federal income tax exemption of the interest portion of the rentals and against any penalties and interest imposed by the Internal Revenue Service on Lessor in connection therewith on a lump -sum basis. Non - Appropriation Termination: I ease is subject to Annual Appropriations. Expenses: Lessee and Lessor will each be responsible for its own legal expenses incurred in connection with the preparation, negotiation and closing of the lease documentation. Lease Documents: Lease documents in form and substance satisfactory to Lessor and its local counsel must be executed and delivered. If Lessor requests, 1 Pssee will also furnish duly executed landlord and mortgage waivers and supporting information. Lessee will also provide board resolutions, incumbency certificates and other documentation required by Lessor. Lessee will provide to Lessor a Validity Opinion. Escrow Account: If Lessee so desires, subject to compliance with applicable regulations under the Internal Revenue Code, including, but not limited to arbitrage regulations, the proceeds of the Lease may be deposited in an escrow acceptable to Lessor, and disbursements made there from to pay for Equipment upon the execution and delivery of an acceptance certificate (and related documents) by Lecc'e and approved by Lessor. Credit Due Diligence: This Transaction is Subject to Formal Credit Approval. In order to complete its credit due diligence, Bank of America, N.A. will need you to provide any updates to the following: Three years of most recent audited financial statements Most recent fiscal year's Budget Insurance Certificate explaining self- insurance program coverages Vendor Name and Tax ID