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<br />transfer, this Bond must be presented and surrendered to the Paying Agent/Registrar, together with proper
<br />instruments of assignment, in form and with guarantee of signatures satisfactory to the Paying Agent/Registrar,
<br />evidencing assignment of this Bond or any portion or portions hereof in any integral multiple of $5,000 to the
<br />assignee or assignees in whose name or names this Bond or any such portion or portions hereof is or are to be
<br />transferred and registered. The form of Assignment printed or endorsed on this Bond may be executed by the
<br />registered owner to evidence the assignment hereof, but such method is not exclusive, and other instruments of
<br />assignment satisfactory to the Paying Agent/Registrar may be used to evidence the assignment of this Bond or
<br />any portion or portions hereof from time to time by the registered owner. The City shall pay the Paying
<br />Agenl/Registrar's reasonable standard or customary fees and charges for transferring, converting, and exchanging
<br />any Bond or portion thereof; provided, however, that any taxes or governmental charges required to be paid with
<br />respect thereto shall be paid by the one requesting such transfer, conversion, and exchange, In any circumstance,
<br />neither the City nor the Paying Agenl/Registrar shall be required (1) to make any transfer or exchange during a
<br />period beginning at the opening of business 15 calendar days before the day of the first mailing of a notice of
<br />redemption of bonds and ending at the close of business on the day of such mailing or (2) to transfer or
<br />exchange any Bonds so selected for redemption when such redemption is scheduled to occur within 30 calendar
<br />days; provided, however, that such limitation shall not be applicable to an exchange by the registered owner of
<br />the uncalled principal balance of a Bond.
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<br />IN THE EVENT any Paying Agent/Registrar for the Bonds is changed by the City, resigns, or otherwise
<br />ceases to act as such, the City has covenanted in the Ordinance that it promptly will appoint a competent and
<br />legally qualified substitute therefor, and promptly will cause written notice thereof to be mailed to the registered
<br />owners of the Bonds,
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<br />BY BECOMING the registered owner of this Bond, the registered owner thereby acknowledges all of
<br />the terms and provisions of the Ordinance, agrees to be bound by such terms and provisions, acknowledges that
<br />the Ordinance is duly recorded and available for inspection in the official minutes and records of the City, and
<br />agrees that the terms and provisions of this Bond and the Ordinance constitute a contract between each registered
<br />owner hereof and the City.
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<br />THE CITY has reserved the right, subject to the restrictions slated in the Ordinance, to issue additional
<br />parity revenue bonds which also may be made payable from, and secured by a first lien on and pledge of, the
<br />"Pledged Revenues" (as defined in the Ordinance).
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<br />THE REGISTERED OWNER HEREOF shall never have the right to demand payment of this obligation
<br />out of any funds raised or to be raised by taxation, or from any source whatsoever other than the Pledged
<br />Revenues.
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<br />IT IS HEREBY certified and covenanted that this Bond has been duly and validly authorized, issued,
<br />and delivered; that all acts, conditions, and things required or proper to be performed, exist, and be done
<br />precedent to or in the authorization, issuance, and delivery of this Bond have been performed, existed, and been
<br />done in accordance with law; that this Bond is a special obligation; and that the principal of, redemption
<br />premium, if any, and interest on this Bond are payable from, and secured by a frrst lien on and pledge of, the
<br />Pledged Revenues, which include the Net Revenues of the City's combined Waterworks and Sewer System.
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