include shipping expense, insurance in transit and
    the fee of the depository trust corporation.      In
    connection with the issuance of the Bonds, the Board
    will pay for the printing of the Bonds, which will
    contain the opinion of Bond Counsel.    Delivery is
    expected on September 30, 1993.

L.  The University may tender the Bonds in the form of a
     single fully registered temporary Bond to the
     purchasers, in which event, such purchasers, upon
     tender thereof to the Transfer Agent of the tempo-
     rary Bond, will be issued fully registered Bond
     Certificates (in the denomination of $5,000 or any
     multiple of same within the same maturity) in such
     names as shall have been properly designated to the
     Bond Registrar.

M.   It shall be the responsibility of the purchasers to
     furnish or cause to be furnished to the Trustee at
     least five (5) business days prior to the date of
     delivery of the Bonds, a list of the names,
     addresses, social security numbers or taxpayer
     identification numbers, of each of the parties to
     whom the Bonds are to be registered and the princi-
     pal amounts and maturities thereof. In the event of
     the failure to so furnish such list, the Bonds
     delivered to the purchasers shall be registered in
     the name or names of such purchasers or their
     designated representatives appearing as the first
     name on the successful Bid Form, or otherwise
     appropriately designated, and shall be issued in
     denominations corresponding to the principal amount
     of each respective maturity, as shall be determined
     by the Trustee-Registrar.

N.   Upon wrongful refusal of the purchasers to take
     delivery of and pay for the Bonds in Federal Funds
     when tendered for delivery, the amount of the good
     faith check shall be forfeited by such purchasers,
     and such amount shall be deemed liquidated damages
     for such default; provided, however, if such Bonds
     are not ready for delivery and payment within
     forty-five (45) days from the date of sale herein
     provided for, said purchasers shall be relieved of
     any  liability  to   accept  the   Bonds  hereunder.
     However, it is contemplated that the Bonds will be
     delivered on a date during such period as may be
     designated by representatives of the Board, and the
     purchasers will be required to accept delivery of
     and pay for the Bonds on any designated date within
     such 45 day period upon notice being given at least
     five (5) business days prior to the designated
     delivery date.



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