Common use of Affiliated Entities Clause in Contracts

Affiliated Entities. ▇▇▇▇▇ ▇▇▇▇▇ US, LLP is an independent member of ▇▇▇▇▇ ▇▇▇▇▇ International. ▇▇▇▇▇ ▇▇▇▇▇ International Limited is an English company. ▇▇▇▇▇ ▇▇▇▇▇ International provides no professional services to clients. Each member firm is a separate and independent legal entity and each describes itself as such. ▇▇▇▇▇ ▇▇▇▇▇ US, LLP is not ▇▇▇▇▇ ▇▇▇▇▇ International’s agent and does not have the authority to bind ▇▇▇▇▇ ▇▇▇▇▇ International or act on ▇▇▇▇▇ ▇▇▇▇▇ International’s behalf. None of ▇▇▇▇▇ ▇▇▇▇▇ International, ▇▇▇▇▇ ▇▇▇▇▇ US, LLP, nor any of the other member firms of ▇▇▇▇▇ ▇▇▇▇▇ International has any liability for each other’s acts or omissions. The name ▇▇▇▇▇ ▇▇▇▇▇ and its associated logo is used under license from ▇▇▇▇▇ ▇▇▇▇▇ International Limited. ▇▇▇▇▇ ▇▇▇▇▇ Investment Services, LLC (“BTIS”), a U.S. Securities and Exchange Commission (“SEC”) registered investment adviser, may provide services to the Client in connection with the investment of proceeds from an issuance of securities. In such instances, services will be provided under a separate engagement, for an additional fee. Notwithstanding the foregoing, ▇▇▇▇▇ ▇▇▇▇▇ may act as solicitor for and recommend the use of BTIS, but the Client shall be under no obligation to retain BTIS or to otherwise utilize BTIS relative to Client’s investments. The fees paid with respect to investment services are typically based in part on the size of the issuance proceeds and ▇▇▇▇▇ ▇▇▇▇▇ may have incentive to recommend larger financings than would be in the Client’s best interest. ▇▇▇▇▇ ▇▇▇▇▇ will manage and mitigate this potential conflict of interest by this disclosure of the affiliated entity’s relationship, a Solicitation Disclosure Statement when Client retains BTIS’s services and adherence to ▇▇▇▇▇ Tilly’s fiduciary duty and/or fair dealing obligations to the Client. ▇▇▇▇▇ ▇▇▇▇▇ Capital, LLC (“BTC”) ▇▇▇▇▇ ▇▇▇▇▇ Capital, LLC (“BTC”) is a limited service broker-dealer specializing in merger and acquisition, capital sourcing, project finance and corporate finance advisory services. BTC does not participate in any municipal offerings advised on by its affiliate ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors. Any services provided to Client by BTC would be done so under a separate engagement for an additional fee. ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors (“BTMA”) is registered as a “municipal advisor” pursuant to Section 15B of the Securities Exchange Act and rules and regulations adopted by the SEC and the Municipal Securities Rulemaking Board (“MSRB”). As such, BTMA may provide certain specific municipal advisory services to the Client. BTMA is neither a placement agent to the Client nor a broker/dealer. The offer and sale of any Bonds is made by the Client, in the sole discretion of the Client, and under its control and supervision. The Client acknowledges that BTMA does not undertake to sell or attempt to sell bonds or other debt obligations and will not take part in the sale thereof. ▇▇▇▇▇ ▇▇▇▇▇, may provide services to the Client in connection with human resources consulting, including, but not limited to, executive recruitment, talent management and community survey services. In such instances, services will be provided under a separate scope of work for an additional fee. Certain executives of the Client may have been hired after the services of ▇▇▇▇▇ ▇▇▇▇▇ were utilized and may make decisions about whether to engage other services of ▇▇▇▇▇ ▇▇▇▇▇ or its subsidiaries. Notwithstanding the foregoing, ▇▇▇▇▇ ▇▇▇▇▇ may recommend the use of ▇▇▇▇▇ ▇▇▇▇▇ or a subsidiary, but the Client shall be under no obligation to retain ▇▇▇▇▇ ▇▇▇▇▇ or a subsidiary or to otherwise utilize either relative to the Client’s activities. There are no criminal actions, regulatory actions, investigations, terminations, judgments, liens, civil judicial actions, customer complaints, arbitrations or civil litigation involving BTMA. Copies of BTMA filings with the SEC can currently be found by accessing the SEC’s ▇▇▇▇▇ system Company Search Page which is currently available at ▇▇▇▇▇://▇▇▇.▇▇▇.▇▇▇/▇▇▇▇▇/searchedgar/companysearch.html and searching for either ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors, LLC or for our CIK number which is 0001616995. The MSRB has made available on its website (▇▇▇.▇▇▇▇.▇▇▇) a municipal advisory client brochure that describes the protections that may be provided by MSRB rules and how to file a complaint with the appropriate regulatory authority.

Affiliated Entities. ▇▇▇▇▇ ▇▇▇▇▇ US, LLP and ▇▇▇▇▇ ▇▇▇▇▇ Advisory Group, LP and its subsidiary entities provide professional services through an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable laws, regulations and professional standards. ▇▇▇▇▇ ▇▇▇▇▇ US, LLP is an a licensed independent member CPA firm that provides attest services to clients. ▇▇▇▇▇ ▇▇▇▇▇ Advisory Group, LP and its subsidiary entities provide tax and business advisory services to their clients. ▇▇▇▇▇ ▇▇▇▇▇ Advisory Group, LP and its subsidiary entities are not licensed CPA firms. ▇▇▇▇▇ ▇▇▇▇▇ Advisory Group, LP and its subsidiaries and ▇▇▇▇▇ ▇▇▇▇▇ US, LLP are independent members of ▇▇▇▇▇ ▇▇▇▇▇ International. ▇▇▇▇▇ ▇▇▇▇▇ International Limited is an English company. ▇▇▇▇▇ ▇▇▇▇▇ International provides no professional services to clients. Each member firm is a separate and independent legal entity entity, and each describes itself as such. ▇▇▇▇▇ ▇▇▇▇▇ Advisory Group, LP and ▇▇▇▇▇ ▇▇▇▇▇ US, LLP is are not ▇▇▇▇▇ ▇▇▇▇▇ International’s agent 's agents and does do not have the authority to bind ▇▇▇▇▇ ▇▇▇▇▇ International or act on ▇▇▇▇▇ ▇▇▇▇▇ International’s 's behalf. None of ▇▇▇▇▇ ▇▇▇▇▇ International, ▇▇▇▇▇ ▇▇▇▇▇ Advisory Group, LP, ▇▇▇▇▇ ▇▇▇▇▇ US, LLP, nor any of the other member firms of ▇▇▇▇▇ ▇▇▇▇▇ International has any liability for each other’s 's acts or omissions. The name ▇▇▇▇▇ ▇▇▇▇▇ and its associated logo is used under license from ▇▇▇▇▇ ▇▇▇▇▇ International Limited. ▇▇▇▇▇ ▇▇▇▇▇ Investment Services, LLC (“BTIS”), a U.S. Securities and Exchange Commission (“SEC”) registered investment adviser, may provide services to the Client in connection with the investment of proceeds from an issuance of securities. In such instances, services will be provided under a separate engagement, for an additional fee. Notwithstanding the foregoing, ▇▇▇▇▇ ▇▇▇▇▇ may act as solicitor for and recommend the use of BTIS, but the Client shall be under no obligation to retain BTIS or to otherwise utilize BTIS relative to Client’s 's investments. The fees paid with respect to investment services are typically based in part on the size of the issuance proceeds and ▇▇▇▇▇ ▇▇▇▇▇ may have incentive to recommend larger financings than would be in the Client’s 's best interest. ▇▇▇▇▇ ▇▇▇▇▇ will manage and mitigate this potential conflict of interest by this disclosure of the affiliated entity’s 's relationship, a Solicitation Disclosure Statement when Client retains BTIS’s 's services and adherence to ▇▇▇▇▇ Tilly’s ▇▇▇▇▇'▇ fiduciary duty and/or fair dealing obligations to the Client. ▇▇▇▇▇ ▇▇▇▇▇ Capital, LLC (“BTC”) ▇▇▇▇▇ ▇▇▇▇▇ Capital, LLC (“BTC”) is a limited limited-service broker-dealer specializing in merger and acquisition, capital sourcing, project finance and corporate finance advisory services. BTC does not participate in any municipal offerings advised on by its affiliate ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors. Any services provided to Client by BTC would be done so under a separate engagement for an additional fee. ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors (“BTMA”) is registered as a “"municipal advisor” " pursuant to Section 15B of the Securities Exchange Act and rules and regulations adopted by the SEC and the Municipal Securities Rulemaking Board (“MSRB”). As such, BTMA may provide certain specific municipal advisory services to the Client. BTMA is neither a placement agent to the Client nor a broker/dealer. The offer and sale of any Bonds is made by the Client, in the sole discretion of the Client, and under its control and supervision. The Client acknowledges that BTMA does not undertake to sell or attempt to sell bonds or other debt obligations and will not take part in the sale thereof. ▇▇▇▇▇ ▇▇▇▇▇, ▇ may provide services to the Client in connection with human resources consulting, including, but not limited to, executive recruitment, talent management and community survey services. In such instances, services will be provided under a separate scope of work for an additional fee. Certain executives of the Client may have been hired after the services of ▇▇▇▇▇ ▇▇▇▇▇ were utilized and may make decisions about whether to engage other services of ▇▇▇▇▇ ▇▇▇▇▇ or its subsidiaries. Notwithstanding the foregoing, ▇▇▇▇▇ ▇▇▇▇▇ may recommend the use of ▇▇▇▇▇ ▇▇▇▇▇ or a subsidiary, but the Client shall be under no obligation to retain ▇▇▇▇▇ ▇▇▇▇▇ or a subsidiary or to otherwise utilize either relative to the Client’s 's activities. There are no criminal actions, regulatory actions, investigations, terminations, judgments, liens, civil judicial actions, customer complaints, arbitrations or civil litigation involving BTMA. Copies of BTMA filings with the SEC can currently be found by accessing the SEC’s 's ▇▇▇▇▇ system Company Search Page which is currently available at ▇▇▇▇▇://▇▇▇.▇▇▇.▇▇▇/▇▇▇▇▇/searchedgar/companysearch.html and searching for either ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors, LLC or for our CIK number which is 0001616995. The MSRB has made available on its website (▇▇▇.▇▇▇▇.▇▇▇) a municipal advisory client brochure that describes the protections that may be provided by MSRB rules and how to file a complaint with the appropriate regulatory authority.

Affiliated Entities. ▇▇▇▇▇ ▇▇▇▇▇ US, LLP is an independent member of ▇▇▇▇▇ ▇▇▇▇▇ International. ▇▇▇▇▇ ▇▇▇▇▇ International Limited is an English company. ▇▇▇▇▇ ▇▇▇▇▇ International provides no professional services to clients. Each member firm is a separate and independent legal entity and each describes itself as such. ▇▇▇▇▇ ▇▇▇▇▇ US, LLP is not ▇▇▇▇▇ ▇▇▇▇▇ International’s agent and does not have the authority to bind ▇▇▇▇▇ ▇▇▇▇▇ International or act on ▇▇▇▇▇ ▇▇▇▇▇ International’s behalf. None of ▇▇▇▇▇ ▇▇▇▇▇ International, ▇▇▇▇▇ ▇▇▇▇▇ US, LLP, nor any of the other member firms of ▇▇▇▇▇ ▇▇▇▇▇ International has any liability for each other’s acts or omissions. The name ▇▇▇▇▇ ▇▇▇▇▇ and its associated logo is used under license from ▇▇▇▇▇ ▇▇▇▇▇ International Limited. ▇▇▇▇▇ ▇▇▇▇▇ Investment ServicesWealth Management, LLC (“BTISBTWM”), a U.S. Securities and Exchange Commission (“SEC”) registered investment adviser, may provide services to the Client in connection with the investment of proceeds from an issuance of securities. In such instances, services will be provided under a separate engagement, for an additional fee. Notwithstanding the foregoing, ▇▇▇▇▇ ▇▇▇▇▇ may act as solicitor for and recommend the use of BTISBTWM, but the Client shall be under no obligation to retain BTIS BTWM or to otherwise utilize BTIS BTWM relative to Client’s investments. The fees paid with respect to investment services are typically based in part on the size of the issuance proceeds and ▇▇▇▇▇ ▇▇▇▇▇ may have incentive to recommend larger financings than would be in the Client’s best interest. ▇▇▇▇▇ ▇▇▇▇▇ will manage and mitigate this potential conflict of interest by this disclosure of the affiliated entity’s relationship, a Solicitation Disclosure Statement when Client retains BTISBTWM’s services and adherence to ▇▇▇▇▇ Tilly’s fiduciary duty and/or fair dealing obligations to the Clientservices. ▇▇▇▇▇ ▇▇▇▇▇ Capital, LLC (“BTC”) ▇▇▇▇▇ ▇▇▇▇▇ Capital, LLC (“BTC”) is a limited service broker-dealer specializing in merger and acquisition, capital sourcing, project finance and corporate finance advisory services. BTC does not participate in any municipal offerings advised on by its affiliate ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors. Any services provided to Client by BTC would be done so under a separate engagement for an additional fee. ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors (“BTMA”) is registered as a “municipal advisor” pursuant to Section 15B of the Securities Exchange Act and rules and regulations adopted by the SEC and the Municipal Securities Rulemaking Board (“MSRB”). As such, BTMA may provide certain specific municipal advisory services to the Client. BTMA is neither a placement agent to the Client nor a broker/dealer. The offer and sale of any Bonds bonds is made by the Client, in the sole discretion of the Client, and under its control and supervision. The Client acknowledges that BTMA does not undertake to sell or attempt to sell bonds or other debt obligations and will not take part in the offer or sale thereof. ▇▇▇▇▇ ▇▇▇▇▇, may provide services to the Client in connection with human resources consulting, including, but not limited to, executive recruitment, talent management and community survey services. In such instances, services will be provided under a separate scope of work for an additional fee. Certain executives of the Client may have been hired after the services of ▇▇▇▇▇ ▇▇▇▇▇ were utilized and may make decisions about whether to engage other services of ▇▇▇▇▇ ▇▇▇▇▇ or its subsidiariesaffiliates. Notwithstanding the foregoing, ▇▇▇▇▇ ▇▇▇▇▇ may recommend the use of ▇▇▇▇▇ ▇▇▇▇▇ or a subsidiary, but the Client shall be under no obligation to retain ▇▇▇▇▇ ▇▇▇▇▇ or a subsidiary an affiliate or to otherwise utilize either relative to the Client’s activities. There are no criminal actions, regulatory actions, investigations, terminations, judgments, liens, civil judicial actions, customer complaints, arbitrations or civil litigation involving BTMA. Copies of BTMA filings with the SEC can currently be found by accessing the SEC’s ▇▇▇▇▇ system Company Search Page which is currently available at ▇▇▇▇▇://▇▇▇.▇▇▇.▇▇▇/▇▇▇▇▇/searchedgar/companysearch.html and searching for either ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors, LLC or for our CIK number which is 0001616995. The MSRB has made available on its website (▇▇▇.▇▇▇▇.▇▇▇) a municipal advisory client brochure that describes the protections that may be provided by MSRB rules and how to file a complaint with the appropriate regulatory authority.

Affiliated Entities. ▇▇▇▇▇ ▇▇▇▇▇ US, LLP is an independent member of ▇▇▇▇▇ ▇▇▇▇▇ International. ▇▇▇▇▇ ▇▇▇▇▇ International Limited is an English company. ▇▇▇▇▇ ▇▇▇▇▇ International provides no professional services to clients. Each member firm is a separate and independent legal entity and each describes itself as such. ▇▇▇▇▇ ▇▇▇▇▇ US, LLP is not ▇▇▇▇▇ ▇▇▇▇▇ International’s agent and does not have the authority to bind ▇▇▇▇▇ ▇▇▇▇▇ International or act on ▇▇▇▇▇ ▇▇▇▇▇ International’s behalf. None of ▇▇▇▇▇ ▇▇▇▇▇ International, ▇▇▇▇▇ ▇▇▇▇▇ US, LLP, nor any of the other member firms of ▇▇▇▇▇ ▇▇▇▇▇ International has any liability for each other’s acts or omissions. The name ▇▇▇▇▇ ▇▇▇▇▇ and its associated logo is used under license from ▇▇▇▇▇ ▇▇▇▇▇ International Limited. ▇▇▇▇▇ ▇▇▇▇▇ Investment Services, LLC (“BTIS”), a U.S. Securities and Exchange Commission (“SEC”) registered investment adviser, may provide services to the Client in connection with the investment of proceeds from an issuance of securities. In such instances, services will be provided under a separate engagement, for an additional fee. Notwithstanding the foregoing, ▇▇▇▇▇ ▇▇▇▇▇ may act as solicitor for and recommend the use of BTIS, but the Client shall be under no obligation to retain BTIS or to otherwise utilize BTIS relative to Client’s investments. The fees paid with respect to investment services are typically based in part on the size of the issuance proceeds and ▇▇▇▇▇ ▇▇▇▇▇ may have incentive to recommend larger financings than would be in the Client’s best interest. ▇▇▇▇▇ ▇▇▇▇▇ will manage and mitigate this potential conflict of interest by this disclosure of the affiliated entity’s relationship, a Solicitation Disclosure Statement when Client retains BTIS’s services and adherence to ▇▇▇▇▇ Tilly’s fiduciary duty and/or fair dealing obligations to the Client. ▇▇▇▇▇ ▇▇▇▇▇ Capital, LLC (“BTC”) ▇▇▇▇▇ ▇▇▇▇▇ Capital, LLC (“BTC”) is a limited service broker-dealer specializing in merger and acquisition, capital sourcing, project finance and corporate finance advisory services. BTC does not participate in any municipal offerings advised on by its affiliate ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors. Any services provided to Client by BTC would be done so under a separate engagement for an additional fee. ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors (“BTMA”) is registered as a “municipal advisor” pursuant to Section 15B of the Securities Exchange Act and rules and regulations adopted by the SEC SEC) and the Municipal Securities Rulemaking Board (“MSRB”). As such, BTMA may provide certain specific municipal advisory services to the Client. BTMA is neither a placement agent to the Client nor a broker/dealer. The offer and sale of any Bonds is made by the Client, in the sole discretion of the Client, and under its control and supervision. The Client acknowledges that BTMA does not undertake to sell or attempt to sell bonds or other debt obligations and will not take part in the sale thereof. ▇▇▇▇▇ ▇▇▇▇▇, may provide services to the Client in connection with human resources consulting, including, but not limited to, executive recruitment, talent management and community survey services. In such instances, services will be provided under a separate scope of work for an additional fee. Certain executives of the Client may have been hired after the services of ▇▇▇▇▇ ▇▇▇▇▇ were utilized and may make decisions about whether to engage other services of ▇▇▇▇▇ ▇▇▇▇▇ or its subsidiaries. Notwithstanding the foregoing, ▇▇▇▇▇ ▇▇▇▇▇ may recommend the use of ▇▇▇▇▇ ▇▇▇▇▇ or a subsidiary, but the Client shall be under no obligation to retain ▇▇▇▇▇ ▇▇▇▇▇ or a subsidiary or to otherwise utilize either relative to the Client’s activities. There are no criminal actions, regulatory actions, investigations, terminations, judgments, liens, civil judicial actions, customer complaints, arbitrations or civil litigation involving BTMA. Copies of BTMA filings with the SEC can currently be found by accessing the SEC’s ▇▇▇▇▇ system Company Search Page which is currently available at ▇▇▇▇▇://▇▇▇.▇▇▇.▇▇▇/▇▇▇▇▇/searchedgar/companysearch.html and searching for either ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors, LLC or for our CIK number which is 0001616995. The MSRB has made available on its website (▇▇▇.▇▇▇▇.▇▇▇) a municipal advisory client brochure that describes the protections that may be provided by MSRB rules and how to file a complaint with the appropriate regulatory authority.

Affiliated Entities. ▇▇▇▇▇ ▇▇▇▇▇ US, LLP is an independent member of ▇▇▇▇▇ ▇▇▇▇▇ International. ▇▇▇▇▇ ▇▇▇▇▇ International Limited is an English company. ▇▇▇▇▇ ▇▇▇▇▇ International provides no professional services to clients. Each member firm is a separate and independent legal entity and each describes itself as such. ▇▇▇▇▇ ▇▇▇▇▇ US, LLP is not ▇▇▇▇▇ ▇▇▇▇▇ International’s agent and does not have the authority to bind ▇▇▇▇▇ ▇▇▇▇▇ International or act on ▇▇▇▇▇ ▇▇▇▇▇ International’s behalf. None of ▇▇▇▇▇ ▇▇▇▇▇ International, ▇▇▇▇▇ ▇▇▇▇▇ US, LLP, nor any of the other member firms of ▇▇▇▇▇ ▇▇▇▇▇ International has any liability for each other’s acts or omissions. The name ▇▇▇▇▇ ▇▇▇▇▇ and its associated logo is used under license from ▇▇▇▇▇ ▇▇▇▇▇ International Limited. ▇▇▇▇▇ ▇▇▇▇▇ Investment Services, LLC (“BTIS”), a U.S. Securities and Exchange Commission (“SEC”) registered investment adviser, may provide services to the Client in connection with the investment of proceeds from an issuance of securities. In such instances, services will be provided under a separate engagement, for an additional fee. Notwithstanding the foregoing, ▇▇▇▇▇ ▇▇▇▇▇ may act as solicitor for and recommend the use of BTIS, but the Client shall be under no obligation to retain BTIS or to otherwise utilize BTIS relative to Client’s investments. The fees paid with respect to investment services are typically based in part on the size of the issuance proceeds and ▇▇▇▇▇ ▇▇▇▇▇ may have incentive to recommend larger financings than would be in the Client’s best interest. ▇▇▇▇▇ ▇▇▇▇▇ will manage and mitigate this potential conflict of interest by this disclosure of the affiliated entity’s relationship, a Solicitation Disclosure Statement when Client retains BTIS’s services and adherence to ▇▇▇▇▇ Tilly’s ▇▇▇▇▇’▇ fiduciary duty and/or fair dealing obligations to the Client. ▇▇▇▇▇ ▇▇▇▇▇ Capital, LLC (“BTC”) ▇▇▇▇▇ ▇▇▇▇▇ Capital, LLC (“BTC”) is a limited service broker-dealer specializing in merger and acquisition, capital sourcing, project finance and corporate finance advisory services. BTC does not participate in any municipal offerings advised on by its affiliate ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors. Any services provided to Client by BTC would be done so under a separate engagement for an additional fee. ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors (“BTMA”) is registered as a “municipal advisor” pursuant to Section 15B of the Securities Exchange Act and rules and regulations adopted by the SEC SEC) and the Municipal Securities Rulemaking Board (“MSRB”). As such, BTMA may provide certain specific municipal advisory services to the Client. BTMA is neither a placement agent to the Client nor a broker/dealer. The offer and sale of any Bonds is made by the Client, in the sole discretion of the Client, and under its control and supervision. The Client acknowledges that BTMA does not undertake to sell or attempt to sell bonds or other debt obligations obligations, and will not take part in the sale thereof. ▇▇▇▇▇ ▇▇▇▇▇, may provide services to the Client in connection with human resources consulting, including, but not limited to, executive recruitment, talent management and community survey services. In such instances, services will be provided under a separate scope of work for an additional fee. Certain executives of the Client may have been hired after the services of ▇▇▇▇▇ ▇▇▇▇▇ were utilized and may make decisions about whether to engage other services of ▇▇▇▇▇ ▇▇▇▇▇ or its subsidiaries. Notwithstanding the foregoing, ▇▇▇▇▇ ▇▇▇▇▇ may recommend the use of ▇▇▇▇▇ ▇▇▇▇▇ or a subsidiary, but the Client shall be under no obligation to retain ▇▇▇▇▇ ▇▇▇▇▇ or a subsidiary or to otherwise utilize either relative to the Client’s activities. There are no criminal actions, regulatory actions, investigations, terminations, judgments, liens, civil judicial actions, customer complaints, arbitrations or civil litigation involving BTMA. Copies of BTMA filings with the SEC can currently be found by accessing the SEC’s ▇▇▇▇▇ system Company Search Page which is currently available at ▇▇▇▇▇://▇▇▇.▇▇▇.▇▇▇/▇▇▇▇▇/searchedgar/companysearch.html and searching for either ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors, LLC or for our CIK number which is 0001616995. The MSRB has made available on its website (▇▇▇.▇▇▇▇.▇▇▇) a municipal advisory client brochure that describes the protections that may be provided by MSRB rules and how to file a complaint with the appropriate regulatory authority.

Affiliated Entities. ▇▇▇▇▇ ▇▇▇▇▇ US, LLP is an independent member of ▇▇▇▇▇ ▇▇▇▇▇ International. ▇▇▇▇▇ ▇▇▇▇▇ International Limited is an English company. ▇▇▇▇▇ ▇▇▇▇▇ International provides no professional services to clients. Each member firm is a separate and independent legal entity and each describes itself as such. ▇▇▇▇▇ ▇▇▇▇▇ US, LLP is not ▇▇▇▇▇ ▇▇▇▇▇ International’s agent and does not have the authority to bind ▇▇▇▇▇ ▇▇▇▇▇ International or act on ▇▇▇▇▇ ▇▇▇▇▇ International’s behalf. None of ▇▇▇▇▇ ▇▇▇▇▇ International, ▇▇▇▇▇ ▇▇▇▇▇ US, LLP, nor any of the other member firms of ▇▇▇▇▇ ▇▇▇▇▇ International has any liability for each other’s acts or omissions. The name ▇▇▇▇▇ ▇▇▇▇▇ and its associated logo is used under license from ▇▇▇▇▇ ▇▇▇▇▇ International Limited. ▇▇▇▇▇ ▇▇▇▇▇ Investment Services, LLC (“BTIS”), a U.S. Securities and Exchange Commission (“SEC”) registered investment adviser, may provide services to the Client in connection with the investment of proceeds from an issuance of securities. In such instances, services will be provided under a separate engagement, for an additional fee. Notwithstanding the foregoing, ▇▇▇▇▇ ▇▇▇▇▇ may act as solicitor for and recommend the use of BTIS, but the Client shall be under no obligation to retain BTIS or to otherwise utilize BTIS relative to Client’s investments. The fees paid with respect to investment services are typically based in part on the size of the issuance proceeds and ▇▇▇▇▇ ▇▇▇▇▇ may have incentive to recommend larger financings than would be in the Client’s best interest. ▇▇▇▇▇ ▇▇▇▇▇ will manage and mitigate this potential conflict of interest by this disclosure of the affiliated entity’s relationship, a Solicitation Disclosure Statement when Client retains BTIS’s services and adherence to ▇▇▇▇▇ Tilly’s fiduciary duty and/or fair dealing obligations to the Client. ▇▇▇▇▇ ▇▇▇▇▇ Capital, LLC (“BTC”) ▇▇▇▇▇ ▇▇▇▇▇ Capital, LLC (“BTC”) is a limited limited-service broker-dealer specializing in merger and acquisition, capital sourcing, project finance and corporate finance advisory services. BTC does not participate in any municipal offerings advised on by its affiliate ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors. Any services provided to Client by BTC would be done so under a separate engagement for an additional fee. ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors (“BTMA”) is registered as a “municipal advisor” pursuant to Section 15B of the Securities Exchange Act and rules and regulations adopted by the SEC and the Municipal Securities Rulemaking Board (“MSRB”). As such, BTMA may provide certain specific municipal advisory services to the Client. BTMA is neither a placement agent to the Client nor a broker/dealer. The offer and sale of any Bonds is made by the Client, in the sole discretion of the Client, and under its control and supervision. The Client acknowledges that BTMA does not undertake to sell or attempt to sell bonds or other debt obligations and will not take part in the sale thereof. ▇▇▇▇▇ ▇▇▇▇▇, may provide services to the Client in connection with human resources consulting, including, but not limited to, executive recruitment, talent management and community survey services. In such instances, services will be provided under a separate scope of work for an additional fee. Certain executives of the Client may have been hired after the services of ▇▇▇▇▇ ▇▇▇▇▇ were utilized and may make decisions about whether to engage other services of ▇▇▇▇▇ ▇▇▇▇▇ or its subsidiaries. Notwithstanding the foregoing, ▇▇▇▇▇ ▇▇▇▇▇ may recommend the use of ▇▇▇▇▇ ▇▇▇▇▇ or a subsidiary, but the Client shall be under no obligation to retain ▇▇▇▇▇ ▇▇▇▇▇ or a subsidiary or to otherwise utilize either relative to the Client’s activities. There are no criminal actions, regulatory actions, investigations, terminations, judgments, liens, civil judicial actions, customer complaints, arbitrations or civil litigation involving BTMA. Copies of BTMA filings with the SEC can currently be found by accessing the SEC’s ▇▇▇▇▇ system Company Search Page which is currently available at ▇▇▇▇▇://▇▇▇.▇▇▇.▇▇▇/▇▇▇▇▇/searchedgar/companysearch.html and searching for either ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors, LLC or for our CIK number which is 0001616995. The MSRB has made available on its website (▇▇▇.▇▇▇▇.▇▇▇) a municipal advisory client brochure that describes the protections that may be provided by MSRB rules and how to file a complaint with the appropriate regulatory authority.

Affiliated Entities. ▇▇▇▇▇ ▇▇▇▇▇ US, LLP is an independent member of ▇▇▇▇▇ ▇▇▇▇▇ International. ▇▇▇▇▇ ▇▇▇▇▇ International Limited is an English company. ▇▇▇▇▇ ▇▇▇▇▇ International provides no professional services to clients. Each member firm is a separate and independent legal entity entity, and each describes itself as such. ▇▇▇▇▇ ▇▇▇▇▇ US, LLP is not ▇▇▇▇▇ ▇▇▇▇▇ International’s agent and does not have the authority to bind ▇▇▇▇▇ ▇▇▇▇▇ International or act on ▇▇▇▇▇ ▇▇▇▇▇ International’s behalf. None of ▇▇▇▇▇ ▇▇▇▇▇ International, ▇▇▇▇▇ ▇▇▇▇▇ US, LLP, nor any of the other member firms of ▇▇▇▇▇ ▇▇▇▇▇ International has any liability for each other’s acts or omissions. The name ▇▇▇▇▇ ▇▇▇▇▇ and its associated logo is used under license from ▇▇▇▇▇ ▇▇▇▇▇ International Limited. ▇▇▇▇▇ ▇▇▇▇▇ Investment Services, LLC (“BTIS”), a U.S. division of ▇▇▇▇▇ ▇▇▇▇▇ Wealth Management, LLC, is registered as an investment adviser with the Securities and Exchange Commission (“SEC”) registered investment adviserunder the Federal Investment Advisers Act of 1940, may provide services to the Client in connection with the investment of proceeds from an issuance of securities. In such instances, services will be provided under a separate engagement, for an additional fee. Notwithstanding the foregoing, ▇▇▇▇▇ ▇▇▇▇▇ may act as solicitor for and recommend the use of BTIS, but the Client shall be under no obligation to retain BTIS or to otherwise utilize BTIS relative to Client’s investments. The fees paid with respect to investment services are typically based in part on the size of the issuance proceeds and ▇▇▇▇▇ ▇▇▇▇▇ may have incentive to recommend larger financings than would be in the Client’s best interest. ▇▇▇▇▇ ▇▇▇▇▇ will manage and mitigate this potential conflict of interest by this disclosure of the affiliated entity’s relationship, a Solicitation Disclosure Statement when Client retains BTIS’s services and adherence to ▇▇▇▇▇ Tilly’s fiduciary duty and/or fair dealing obligations to the Client. ▇▇▇▇▇ ▇▇▇▇▇ Capital, LLC (“BTC”) ▇▇▇▇▇ ▇▇▇▇▇ Capital, LLC (“BTC”) is a limited limited-service broker-dealer specializing in merger and acquisition, capital sourcing, project finance and corporate finance advisory services. BTC does not participate in any municipal offerings advised on by its affiliate ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors. Any services provided to Client by BTC would be done so under a separate engagement for an additional fee. ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors (“BTMA”) is registered as a “municipal advisor” pursuant to Section 15B of the Securities Exchange Act and rules and regulations adopted by the SEC and the Municipal Securities Rulemaking Board (“MSRB”). As such, BTMA may provide certain specific municipal advisory services to the Client. BTMA is neither a placement agent to the Client nor a broker/dealer. The offer and sale of any Bonds is made by the Client, in the sole discretion of the Client, and under its control and supervision. The Client acknowledges that BTMA does not undertake to sell or attempt to sell bonds or other debt obligations and will not take part in the sale thereof. ▇▇▇▇▇ ▇▇▇▇▇, may provide services to the Client in connection with human resources consulting, including, but not limited to, executive recruitment, talent management and community survey services. In such instances, services will be provided under a separate scope of work for an additional fee. Certain executives of the Client may have been hired after the services of ▇▇▇▇▇ ▇▇▇▇▇ were utilized and may make decisions about whether to engage other services of ▇▇▇▇▇ ▇▇▇▇▇ or its subsidiaries. Notwithstanding the foregoing, ▇▇▇▇▇ ▇▇▇▇▇ may recommend the use of ▇▇▇▇▇ ▇▇▇▇▇ or a subsidiary, but the Client shall be under no obligation to retain ▇▇▇▇▇ ▇▇▇▇▇ or a subsidiary or to otherwise utilize either relative to the Client’s activities. There are no criminal actions, regulatory actions, investigations, terminations, judgments, liens, civil judicial actions, customer complaints, arbitrations or civil litigation involving BTMA. Copies of BTMA filings with the SEC can currently be found by accessing the SEC’s ▇▇▇▇▇ system Company Search Page which is currently available at ▇▇▇▇▇://▇▇▇.▇▇▇.▇▇▇/▇▇▇▇▇/searchedgar/companysearch.html and searching for either ▇▇▇▇▇ ▇▇▇▇▇ Municipal Advisors, LLC or for our CIK number which is 0001616995. The MSRB has made available on its website (▇▇▇.▇▇▇▇.▇▇▇) a municipal advisory client brochure that describes the protections that may be provided by MSRB rules and how to file a complaint with the appropriate regulatory authority.