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Underwriter is obligated to receive a written undertaking from Pleasanton that, as long as the 2021 Bonds are outstanding, Pleasanton will provide updates of financial and operating information related to Pleasanton that was included in the Preliminary Official Statement as well as notices about certain events. A draft form of the continuing disclosure undertaking is appended to the Preliminary Official Statement as part of Appendix E. The Underwriter will obtain similar continuing disclosure undertakings from LAVWMA, DSRSD and Livermore, each of which is appended to the Preliminary Official Statement as part of Appendix E. Financing Team Participant. The complex legal and financial structure of municipal bond issues and the long-term impact of bond financing transactions require issuers to rely heavily upon experienced professional consultants to assist in the issuance process. LAVWMA has assembled a team of professionals to assist them with the bond issuance process. The table below lists the key members of the financing team and their roles. All fees associated with this financing will be paid from 2021 Bond proceeds. Role Team Member Fieldman, Rolapp & Associates Municipal Advisor Jones Hall, A Professional Law Bond Counsel, Disclosure Counsel Corporation Stifel, Nicolaus & Company, Incorporated Underwriter The specific duties of each team member are described below: Municipal Advisor. The Municipal Advisor ensures that the issuing entity's interests are protected when the transaction is being structured and sold. The Municipal Advisor oversees the pricing of the 2021 Bonds proposed by the Underwriter. Underwriter. The Underwriter will market the 2021 Bonds to potential investors and will agree to underwrite the 2021 Bonds (which means it will purchase all the 2021 Bonds if the conditions set forth in its Bond Purchase Agreement with LAVWMA are met). Bond Counsel. The Bond Counsel prepares all the legal documents for the 2021 Bonds (including the Second Amended and Restated Sewer Service Contract) and the resolutions to be adopted by LAVWA, Pleasanton, DSRSD and Livermore. At closing, Bond Counsel will opine that LAVWMA has the legal authority to issue the 2021 Bonds, that the 2021 Bonds are legal, valid and binding, and that interest on the 2021 Bonds will be exempt from state and federal taxation. Disclosure Counsel. The Disclosure Counsel assists in the preparation of the Preliminary Official Statement and the continuing disclosure undertakings. Page 5 of 6