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<br />, . <br /> <br />e <br /> <br />e <br /> <br />provided, however, that such limitation shall not be applicable <br />to an exchange by the owner of the uncalled principal balance of <br />a Bond. <br /> <br />(e) All Bonds issued in exchange or replacement of any <br />other Bond or portion thereof, (i) shall be issued in fully <br />registered form, without interest coupons, with the principal of <br />and interest on such bonds to be payable only to the registered <br />owners thereof, (ii) may be redeemed prior to their scheduled <br />maturities, (iii) may be transferred and assigned, (iv) may be <br />exchanged for other Bonds, (v) shall have the characteristics, <br />(vi) shall be signed and sealed, and (vii) the principal of and <br />interest on the Bonds shall be payable, all as provided, and in <br />the manner required or indicated, in the FORM OF BONDS set forth <br />in this Ordinance. <br /> <br />(f) The City shall pay all of the Paying Agent/Registrar's <br />reasonable and customary fees and charges for making transfers, <br />conversions, and exchanges of the Bonds in accordance with an <br />agreement between the City and the Paying Agent/Registrar, but <br />the registered owner of any Bond requesting such transfer shall <br />pay any taxes or other governmental charges required to be paid <br />wi th respect thereto. In addition, the City hereby covenants <br />with the registered owners of the Bonds that it will pay the <br />reasonable and standard or customary fees and charges of the <br />Paying Agent/ Registrar for its services with respect to the <br />payment of the principal of and interest on the Bonds, when due. <br /> <br />(g) The City covenants with the registered owners of the <br />Bonds that at all times while the Bonds are outstanding the city <br />will provide a competent and legally qualified national or state <br />banking institution, which shall be a corporation organized and <br />doing business under the laws of the United States of America or <br />of any state, authorized under such laws to exercise trust <br />powers, and subject to supervision or examination by federal or <br />state authorities, or other entity duly qualified and legally <br />authorized to serve as and perform the duties and services of <br />Paying Agent/Registrar, to act as and perform the services of <br />Paying Agent/Registrar for the Bonds under this Ordinance, and <br />that the Paying Agent/Registrar will be one entity. The City <br />reserves the right to, and may, at its option, change the Paying <br />Agent/Registrar upon not less than 60 days written notice to the <br />Paying Agent/Registrar. In the event that the entity at any time <br />acting as Paying Agent/Registrar (or its successor by merger, <br />acquisition, or other method) should resign or otherwise cease to <br />act as such, the city covenants that promptly it will appoint a <br />competent and legally qualified entity whose qualifications <br />substantially are similar to the previous Paying Agent/Registrar <br />to act as Paying Agent/Registrar under this Ordinance. Upon any <br />change in the Paying Agent/Registrar, the previous Paying <br />Agent/Registrar promptly shall transfer and deliver the <br />Registration Books (or a copy thereof), along with all other <br />pertinent books and records relating to the Bonds, to the new <br />Paying Agent/Registrar designated and appointed by the city. <br /> <br />7 <br />