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MORGAN STANLEY <br />If the foregoing sets forth your understanding of the <br />terms and conditions of the Repurchase Transaction, please <br />forward two executed copies of this Agreement and the <br />Custody Agreement to us as soon as possible. <br />Very truly yours, <br />MORGAN STANLEY 6cf"CQr. INCOR$ORATED <br />By : ~yv ~~--~, r Z,ay, ... <br />Title: ~ n ~ ~-e~~ ~ <br />Agreed to and accepted as of the <br />date set forth above: <br />BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION, <br />AS TRUSTEE ~ Yf~ <br />By : '~ <br />Title: ~ Ur <br />PLEASANTON JOINT "POWERS FINA~~N~~C~~,,I~~NG AUTHORITY <br />Title : , i'`~~Z',G~ ~/uf ~, ~C/-P~`O~C ~- <br />~-~--- <br />BHS.series-b.doc <br />