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200510Sti3 to make all the Payments and pay additional rent due under this Agreement. Lessee agrees that commencing with its budget for the next-ensuing fiscal year it will include amounts sufficient to make the Payments as the same fall due in its annual budget and appropriations. Section 5.04. Lessee covenants and agrees that it shall neither take any action nor omit to take such action which such action or omission would have the affect of causing interest on the Building Bonds to be no longer excludable from gross income under the Internal Revenue Code of 1986, as amended. Section 5.05. In accordance with the requirements of Rule 15c2-12 (the "Rule") promulgated by the Securities and Exchange Commission (the "Commission"), the City hereby agrees that it will provide the following continuing disclosure information: (a) to each nationally recognized municipal securities information repository (a "NRMSIR") and to the Underwriter, the City shall provide annual financial and operating information generally consistent with the information set forth under the heading "FINANCIAL STATEMENT" in the Official Statement for the Building Bonds and its audited financial statements; such information is expected to be available not later than seven months after the end of each fiscal year for the City. Audited financial information shall be provided for governmental and fiduciary fund types based on the modified accrual basis of accounting and as to proprietary fund types on an accrual basis in accordance with generally accepted accounting principles; (b) in a timely manner to each NRMSIR or to the Municipal Securities Rulemaking Board ("MSRB"), notice of the occurrence of any of the following events with respect to the Building Bonds, if in the judgment of the City, such event is material: (I) principal and interest payment delinquencies, (2) non-payment related defaults, (3) unscheduled draws on debt servIce reserves reflecting financial difficulties, (4) unscheduled draws on credit enhancements reflecting financial difficulties, (5) substitution of credit or liquidity providers, or their failure to perform, (6) adverse tax opinions or events affecting the tax-exempt status of the Building Bonds, (7) modifications to rights of the holders of the Building Bonds, 8