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BOND CONSULTANT ENDORSEMENT
<br />The following information, and signature by an authorized representative, is required only when trus enaorsemen~ is ~ssuCu
<br />subsequent to the preparation of this policy:
<br />First Named Insured:
<br />Policy Number:
<br />Effective Date Of This Endorsement:
<br />This endorsement forms a part of the policy to which it is attached. It is effective on the inception date of the policy unless
<br />stated otherwise above.
<br />1. In consideration of the premium charged, and not withstanding any other provision of this policy, it is understood and
<br />agreed that the coverage provided by this policy applies to damages caused by a "wrongful act" of a below named insured
<br />arising out of said insured providing "bond consulting services" to a "govemmental entity "client".
<br />2. The following amended or additional definitions apply to the coverage provided by this endorsement in addition to the other
<br />applicable definitions contained in this policy:
<br />a. "Bond consulting services" means advice and administrative services provided to a "govemmental entity' client with
<br />respect to raising revenue through the issuance of bonds, including, without limitation, program design and negotiation,
<br />and management and coordination of the bond issuance process.
<br />b. "Governmental entity' means any governmental entity, quasi-govemmental entity or self-regulatory body or authority,
<br />subdivision or agency including, without limitation, a county, municipality or revenue district.
<br />3. The following amended or additional exclusions apply to the coverage provided by this endorsement in addition to the
<br />other applicable definitions contained in this policy. This coverage does not apply to:
<br />a. any claim arising from the performance of legal services, including but not limited to, those services usually performed
<br />by bond counsel (e.g., drafting bond documents, regulatory agreements, official statements and notices of sale).
<br />However, this exclusion does not apply to advising bond counsel, reviewing bond counsel's work product and
<br />coordinating the production of necessary legal documents.
<br />b. any claim arising out of the insured's capacity as an elected public official or as an employee of a "governmental entity",
<br />unless the insured is deemed an employee solely by virtue of rendering "bond consulting services" to such
<br />"governmental entity, the remuneration for which services inures to the benefit of the named insured; or any claim
<br />arising from any act of voting or having the ability to vote on any governmental committee, board, bureau or other
<br />governmental body.
<br />c. any claim arising out of any underwriting, syndicating, or investment banking services.
<br />d. any claim arising out of any independent decision making authority exercised by the insured, or any claim arising out of
<br />any act of the insured which subsequently has not been approved, ratified or authorized by the "governmental entity
<br />client.
<br />e. any claim made by, against or in any way related to any "broker" or "dealer", investment adviser, law firm, accounting
<br />firm, trust company or other "entity' of which the insured is an owner, officer, director, partner, member, trustee,
<br />controlling party, employee or independent contractor, or which has paid an insured a finder fee, consulting fee or any
<br />other remuneration related to "bond consulting services" provided by an insured to a "govemmental entity'; provided,
<br />this shall not apply to remuneration paid, pursuant to written contract between the insured and a "governmental entity',
<br />to an insured solely in payment of the insured's "bond consulting services".
<br />f. any claim arising out of or in any way related to any violation (whether willful or othenrise) of any "securities" laws or
<br />regulations, including, without limitation, the failure to adequately disclose material facts or provide due diligence with
<br />respect to any bond offering.
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