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calculated upon the principal amount of Certificates of <br />Participatioh issued and sold, equal to one percent of the <br />first two million dollars principal amount of Certificates of <br />Participation, one-half of one percent of the next three <br />million dollars principal amount of Certificates, and <br />one-fourth of one percent of any Certificates of Participation <br />in excess of five million dollars, payable upon the delivery <br />of and receipt of payment for the Certificates of <br />Participation. In the event that Special Counsel is <br /> <br />(i) directed to prepare proceedings to register the <br />Certificates of Participation for sale or to prepare a blue <br />sky memorandum, in accordance with paragraph l(f) of this <br />Agreement, (i~) required to prepare proceedings in connection <br />with variable rate Certificates of Participation, or <br /> <br />(iii) requested to prepare proceedings which contemplate <br />credit enhancement, either through bond insurance or a letter <br />of credit or otherwise, an additional fee for such work shall <br />be due Special Counsel, said fee to be agreed upon by the City <br />and Special Counsel, following the decision by the City or the <br />City's underwriter that such work is desirable. Special <br />Counsel understands that no litigation is presently pending <br />against the City or the Corporation concerning the Project, <br />and, in the event litigation is filed which affects the City, <br />the Corporation, the Project or the issuance of the <br />Certificates of Participation and which will result in the <br />rendering of additional legal services by Special Counsel, the <br /> <br /> <br />