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Substituted Refunding Trust Agreement , or the laws of the State <br /> of Arkansas . <br /> ( c ) An opinion of Messrs . Rose , Nash Williamson , Carroll , <br /> Clay & Giroir , Special Tax Counsel , that the implementation of the <br /> escrow revision program , if reasonably expected on the date of <br /> issuance of the Refunding Bonds , would not have caused either the <br /> Refunding Bonds or the Refunded Bonds to be characterized as <br /> "arbitrage bonds " under Section 103 ( c ) of the Internal Revenue Code <br /> of 1954 , as amended . <br /> 5 . In consideration for the services rendered hereunder : <br /> The Consultant shall receive a fee and pay the expenses <br /> rendered and to be rendered , including the fee of the Special Tax <br /> Counsel , Bond Counsel , the Certified Public Accountants and the <br /> Escrow Trustee . <br /> The fees paid shall be paid solely from proceeds realized <br /> from the redemption of the Escrow Investments in the Escrow Account <br /> in excess of the amounts required to satisfy the requirements of <br /> the Amended and Substituted Refunding Trust Agreement (and from <br /> surplus earnings generated from the substituted securities in the <br /> escrow account ) . The Issuer shall have no obligation , whatsoever , <br /> to make payment for these fees from any other source of funds . <br /> 6 . This Agreement shall terminate ninety (90 ) days from the <br /> execution hereof, unless otherwise mutually agreed by the parties . <br /> THE CITY OF BATESVILLE , ARKANSAS , <br /> Issuer <br /> By �G ✓ <br /> ATTEST : Mayor <br /> C ' ty Clerk <br /> (SEAL ) DABBS SULLIVAN DIVISION OF <br /> GEORGE K. BAUM & CO . , INC . <br /> Consulta <br /> , <br /> ATTE . By <br /> 5 <br />