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5 <br /> Exhibit No. 1 <br /> Page Two <br /> 10. LEGAL OPINION: The County will be required to provide an opinion of <br /> County counsel that the installment purchase agreement is a valid, <br /> enforcable obligation. <br /> 11. DEPOSIT: The County will be required to remit a deposit equal to one <br /> percent (1%) of the cost of the project upon acceptance of the <br /> proposal. If a commitment from the Secured Party is not received <br /> within thirty (30) calendar days this deposit shall be returned to the <br /> County. Upon acceptance of a commitment and execution of the <br /> documents the deposit (without interest thereon) will be applied on a <br /> pro rata basis to the first payment. If the commitment is issued on <br /> substantially the same terms and conditions as outlined in this <br /> proposal and is not accepted by the County by the commitment <br /> acceptance date, the Secured Party shall retain the deposit. <br /> 12. EXPENSES: Any expenses associated with the revision of the basic <br /> documentation which would require the use of outside counsel will be <br /> paid by the County. <br /> 13. BANK OUALIFICATION: County represents that this contract is <br /> designated as a qualifying obligation under the $10,000,000 small <br /> issue exemption as described within Section 265b3 of the Tax Reform <br /> Act of 1986. <br />