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<br />Agent/Registrar may prescribe; and the Paying Agent/Registrar shall make such registrations, transfers, and
<br />exchanges as herein provided. The Mayor and the City Secretary are authorized to enter into a Paying
<br />AgentlRegistrar Agreement substantially in the fonn of Exhibit A, attached hereto. The Paying Agent/Registrar
<br />shall obtain and record in the Registration Books the address of the registered owner of each Bond to which
<br />payments with respect to the Bonds shall be mailed, as herein provided; but it shall be the duty of each
<br />registered owner to notify the Paying Agent/Registrar in writing of the address to which payments shall be
<br />mailed, and such interest payments shall not be mailed unless such notice has been given. To the extent possible
<br />and under reasonable circumstances, all transfers of Bonds shall be made within three business days after request
<br />and presentation thereof. The Issuer shall have the right to inspect the Registration Books during regular
<br />business hours of the Paying Agent/Registrar, but otherwise the Paying Agent/Registrar shall keep the Regis-
<br />tration Books confidential and, unless otherwise required by law, shall not pennit their inspection by any other
<br />entity. The Paying Agent/Registrar's standard or customary fees and charges for making such registration,
<br />transfer, exchange and delivery of a substitute Bond or Bonds shall be paid as provided in the FORM OF BOND
<br />set forth in this Ordinance. Registration of assignments, transfers, and exchanges of Bonds shall be made in the
<br />manner provided and with the effect stated in the FORM OF BOND set forth in this Ordinance. Each substitute
<br />Bond shall bear a letter and/or number to distinguish it from each other Bond.
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<br />Except as provided in (c) below, an authorized representative of the Paying Agent/Registrar shall, before the
<br />delivery of any such Bond, date and manually sign the Paying Agent/Registrar's Authentication Certificate, and
<br />no such Bond shall be deemed to be issued or outstanding unless such Certificate is so executed. The Paying
<br />Agent/Registrar promptly shall cancel all paid Bonds and Bonds surrendered for transfer and exchange. No addi-
<br />tional ordinances, orders, or resolutions need be passed or adopted by the governing body of the Issuer or any
<br />other body or person so as to accomplish the foregoing transfer and exchange of any Bond or portion thereof,
<br />and the Paying Agent! Registrar shall provide for the printing, execution, and delivery of the substitute Bonds in
<br />the manner prescribed herein, and said Bonds shall be of type composition printed on paper with lithographed or
<br />steel engraved borders of customary weight and strength. Pursuant to Vernon's Ann. Tex. Civ. St. Art. 717k-6,
<br />and particularly Section 6 thereof, the duty of transfer and exchange of Bonds as aforesaid is hereby imposed
<br />upon the Paying Agent/Registrar, and, upon the execution of said certificate, the transferred and exchanged Bond
<br />shall be valid, incontestable, and enforceable in the same manner and with the same effect as the Bonds which
<br />initially were issued and delivered pursuant to this Ordinance, approved by the Attorney General, and registered
<br />by the Comptroller of Public Accounts.
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<br />(b) Payment of Bonds and Interest. The Issuer hereby further appoints the Paying Agent/Registrar to act as
<br />the paying agent for paying the principal of and interest on the Bonds, all as provided in this Ordinance. The
<br />Paying Agent! Registrar shall keep proper records of all payments made by the Issuer and the Paying
<br />Agent/Registrar with respect to the Bonds.
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<br />(c) In General, The Bonds (i) shall be issued in fully registered fonn, without interest coupons, with the
<br />principal of and interest on such Bonds to be payable only to the registered owners thereof, (ii) may be redeemed
<br />prior to their scheduled maturities, (iii) may be transferred and assigned, (iv) may be exchanged for other Bonds,
<br />(v) shall have the characteristics, (vi) shall be signed, sealed, executed, and authenticated, (vii) shall have the
<br />principal of and interest on the Bonds be payable, and (viii) shall be administered and the Paying AgentlRegistrar
<br />and the Issuer shall have certain duties and responsibilities with respect to the Bonds, all as provided, and in the
<br />manner and to the effect as required or indicated, in the FORM OF BOND set forth in this Ordinance. The
<br />Bonds initially issued and delivered pursuant to this Ordinance numbered R-l through R-ll (collectively, the
<br />"Initial Bonds") shall be delivered to the initial purchaser and are not required to be, and shall not be, authenti-
<br />cated by the Paying Agent/Registrar, but on each substitute Bond issued in exchange for the Initial Bonds or any
<br />Bond or Bonds issued under this Ordinance the Paying Agent/Registrar shall execute the PAYING
<br />AGENT/REGISTRAR'S AUTHENTICATION CERTIFICAlE, in the fonn set forth in the FORM OF BOND.
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<br />(d) Substitute Payin~ A~ent/Re~istrar. The Issuer covenants with the registered owners of the Bonds that
<br />at all times while the Bonds are outstanding the Issuer will provide a competent and legally qualified bank, trust
<br />company, fmancial institution, or other agency to act as and perfonn the services of Paying Agent/Registrar for
<br />the Bonds under this Ordinance, and that the Paying Agent/Registrar will be one entity. The Issuer reserves the
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