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<br />30--20 <br /> <br />City of Redwood City <br />February 8, 2000 <br />Page 3 <br /> <br />engineers and costs of any other experts or consultants retained by the Issuer in connection <br />with the financing. <br /> <br />4. <br /> <br />It is expressly understood and agreed and the Issuer hereby recognizes that in performing <br />its activities the Underwriter is acting solely on its own behalf and plans to submit to the <br />Issuer a proposal to purchase the Bonds for resale. Nothing herein will be construed to <br />make the Underwriter an employee or financial, fiscal or other advisor of the Issuer, or to <br />establish any fiduciary relationship between the Issuer and the Undef\vriter. <br /> <br />5. <br /> <br />Upon written notice to the Underwriter, the Issuer may terminate this Agreement. <br /> <br />6. <br /> <br />It is understood and agreed that the Issuer will not be required to compensate the <br />Underwriter for services provided to the Issuer under this agreement if the Bonds are not <br />sold. <br /> <br />Upon your acceptance set forth below, this letter will constitute an agreement between the Issuer <br />and the undersigned. Thank you for the opportunity to be of service to the City of Redwood City. <br /> <br />Very truly yours, <br /> <br />Edward G. Schilling <br />Managing Director <br /> <br /> <br />Accepted this - day of <br /> <br />. 2000 <br /> <br />By: <br /> <br />#22813 <br /> <br />. .~_._.._... .-...'.T .... . <br />