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<br />and shall not be regarded as being outstanding except for the right of the registered owner to
<br />receive the redemption price plus accrued interest to the date fIXed for redemption from the Paying
<br />AgentlRegistrar out of the funds provided for such payment. The Paying AgentlRegistrar shall
<br />record in the Registration Books all such redemptions of principal of this Bond or any portion
<br />hereof. If a portion of any Bond shall be redeemed a substitute Bond or Bonds having the same
<br />maturity date, bearing interest at the same rate, in any denomination or denominations in any
<br />integral multiple of $5,000, at the written request of the registered owner, and in aggregate
<br />principal amount equal to the unredeemed portion thereof, will be issued to the registered owner
<br />upon the surrender thereof for cancellation, at the expense of the City, all as provided in the
<br />Ordinance.
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<br />* AlL BONDS OF TIllS SERIFS are issuable solely as fully registered bonds, without
<br />interest coupons, in the denomination of any integral multiple of $5,000. As provided in the
<br />Ordinance, this Bond, or any unredeemed portion hereof, may, at the request of the registered
<br />owner or the assignee or assignees hereof, be assigned, transferred, and exchanged for a like
<br />aggregate principal amount of fully registered bonds, without interest coupons, payable to the
<br />appropriate registered owner, assignee, or assignees, as the case may be, having the same maturity
<br />date, and bearing interest at the same rate, in any denomination or denominations in any integral
<br />multiple of $5,000 as requested in writing by the appropriate registered owner, assignee, or
<br />assignees, as the case may be, upon surrender of this Bond to the Paying AgentlRegistrar for
<br />cancellation, all in accordance with the form and procedures set forth in the Ordinance. Among
<br />other requirements for such assignment and transfer, this Bond must be presented and surrendered
<br />to the Paying AgentlRegistrar, together with proper instruments of assignment, in form and with
<br />guarantee of signatures satisfactory to the Paying AgentlRegistrar, evidencing assignment of this
<br />Bond or any portion or portions hereof in any integral multiple of $5,000 to the assignee or
<br />assignees in whose name or names this Bond or any such portion or portions hereof is or are to
<br />be transferred and registered. The form of Assignment printed or endorsed on this Bond may be
<br />executed by the registered owner to evidence the assignment hereof, but such method is not
<br />exclusive, and other instruments of assignment satisfactory to the Paying AgentlRegistrar may be
<br />used to evidence the assignment of this Bond or any portion or portions hereof from time to time
<br />by the registered owner. The City shall pay the Paying AgentlRegistrar's reasonable standard or
<br />customary fees and charges for transferring, converting and exchanging any Bond or portion
<br />thereof; provided, however, that any taxes or governmental charges required to be paid with respect
<br />thereto shall be paid by the one requesting such transfer, conversion and exchange. In any
<br />circumstance, neither the City nor the Paying AgentlRegistrar shall be required (1) to make any
<br />transfer or exchange during a period beginning at the opening of business 15 days before the day
<br />of the first mailing of a notice of redemption of bonds and ending at the close of business on the
<br />day of such mailing or (2) to transfer or exchange any Bonds so selected for redemption when such
<br />redemption is scheduled to occur within 30 calendar days; provided, however, such limitation shall
<br />not be applicable to an exchange by the registered owner of the uncalled principal balance of a
<br />Bond.
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<br />*IN TIlE EVENT any Paying AgentlRegistrar for the Bonds is changed by the City, resigns,
<br />or otherwise ceases to act as such, the City has covenanted in the Ordinance that it promptly will
<br />appoint a competent and legally qualified substitute therefor, and promptly will cause written notice
<br />thereof to be mailed to the registered owners of the Bonds.
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