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required by Rule 15c2-12, and in a manner and to the extent described in the Preliminary Official <br />Statement under the caption "SUMMARY OF THE CONTINUING DISCLOSURE <br />AGREEMENT" in Appendix A. <br /> <br /> (p) At no time since July 3, 1995, has the City failed to comply in any material respect <br />with any of the information reporting undertakings contained in Rule 15c2-12. <br /> <br />SECTION 2. TRUSTEE'S REPRESENTATIONS, WARRANTIES AND AGREEMENTS <br /> <br /> By its acceptance hereof, the Trustee hereby represents and warrants to, and agrees with, <br />the Underwriter and the City that: <br /> <br /> (a) The Trustee is a banking corporation duly and legally organized under the laws <br />of the State of Missouri. The Trustee is authorized pursuant to such laws and all regulations <br />promulgated thereunder (i) to lease the Leased Property from the City pursuant to the Ground <br />Lease and (ii) to lease the Leased Property to the City pursuant to the Lease. <br /> <br /> (b) The documents to which the Trustee is a party, when executed and delivered by <br />the Trustee, will be the legal, valid and binding obligations of the Trustee enforceable in <br />accordance with their terms, except to the extent that enforcement thereof may be limited by an <br />applicable bankruptcy, reorganization, insolvency, moratorium or other law or laws affecting the <br />enforcement of creditors' rights generally or against entities such as the Trustee and further <br />subject to the availability of equitable remedies. <br /> <br /> (c) There is no action, suit, proceeding, inquiry or investigation at law or in equity <br />or before or by any court, pubic board or body pending or, to the Trustee's knowledge, threatened <br />against or affecting the Trustee (or, to the Trustee's knowledge, any basis therefor) wherein an <br />unfavorable decision, ruling or finding would have a material adverse effect on the transactions <br />contemplated hereby or by the Official Statement or the validity or enforceability of the Ground <br />Lease, the Lease, the Indenture, the Certificates, this Purchase Contract or any agreement or <br />document which is used or contemplated for use in the consummation of the transactions <br />contemplated hereby or by the Official Statement. <br /> <br /> (d) The execution and delivery of the Official Statement, this Purchase Contract, the <br />Indenture, the Certificates, the documents to which the Trustee is a party and the other <br />agreements and documents contemplated hereby or by the Official Statement, and the <br />performance by the Trustee of its obligations under the aforementioned, do not and will not <br />violate any existing law, court or administrative regulation, decree or order or any agreement, <br />indenture, mortgage, lease, note or other obligation or instrument to which the Trustee is subject <br />or by which it is or may be bound. <br /> <br />SECTION 3. PLACEMENT AND PURCHASE OF THE CERTIFICATES <br /> <br /> (a) Placement of the Certificates. On the basis of the representations and agreements <br />contained herein, the Placement Agent shall, in connection with the initial sale of the Certificates and <br />beneficial interests therein, use its best efforts to solicit purchases of the Certificates by sophisticated <br />investors which customarily purchase tax-exempt securities in large denominations at a price of par; <br />provided, such purchases shall be subject to the limitations set forth in the Indenture. The initial <br />purchasers of the Certificates pursuant to this Section (the "Purchasers") are to purchase the Certificates <br /> <br />-4- <br /> <br /> <br />