HomeMy WebLinkAbout0126_0025of this Bond or any such portion or portions hereof by the ini-
tial registered owner hereof. A new bond or bonds payable to
such assignee or assignees (which then will be the new regis-
tered owner or owners Of such new Bond or Bonds) or to the ini-
tial registered owner as to any portion of this Bond which is
not being assigned and transferred by the initial registered
owner, shall be delivered by the Paying Agent/Registrar in con-
version of and exchange for this Bond or any portion or por-
tions hereof, but solely in the form and manner as provided in
the next paragraph hereof for the conversion and exchange of
this Bond or any portion hereof The registered owner of this
Bond shall be deemed and treated by the Issuer and the Paying
Agent/Registrar as the absolute owner hereof for all purposes,
including payment and discharge of liability upon this Bond to
the extent of such payment, and the Issuer and the Paying
Agent/Registrar shall not be affected by any notice to the con-
trary.
AS PROVIDED above and in the Bond Ordinance, this Bond, to
the extent of the unpaid or unredeemed principal balance here-
of, may be converted into and exchanged for a like aggregate
principal amount of fully registered bonds, without interest
coupons, payable to the assignee or assignees duly designated
in writing by the initial registered owner hereof, or to the
initial registered owner as to any portion of this Bond which
is not being assigned and transferred by the initial registered
owner, in any denomination or denominations in any integral
multiple of $5,000 (subject to the requirement hereinafter
stated that each substitute bond issued in exchange for any
portion of this Bond shall have a single stated principal ma-
turity date), upon surrender of this Bond to the Paying Agent/
Registrar for cancellation, all in accordance with the form and
procedures set forth in the Bond Ordinance If this Bond or
any portion hereof is assigned and transferred or converted
each bond issued in exchange for any portion hereof shall have
a single stated principal maturity date corresponding to the
due date of the installment of principal of this Bond or por-
tion hereof for which the substitute bond is being exchanged,
and shall bear -interest at the rate applicable to and borne by
such installment of principal or portion thereof Such bonds,
respectively, shall be subject to redemption prior to maturity
on the same dates and for the same prices as the corresponding
installment of principal of this Bond or portion hereof for
which they are being exchanged No such bond shall be payable
in installments, but shall have only one stated principal ma-
turity date. AS PROVIDED IN THE BOND ORDINANCE, THIS BOND IN
ITS PRESENT FORM MAY BE ASSIGNED AND TRANSFERRED OR CONVERTED
ONCE ONLY, and to one or more assignees, but the bonds issued
and delivered in exchange for this Bond or any portion hereof
may be assigned and transferred, and converted, subsequently,
as provided in the Bond Ordinance The Issuer shall pay the
Paying Agent/Registrar's standard or customary fees and charges
for transferring, converting, and exchanging this Bond or any
portion thereof, but the one requesting such transfer, conver-
sion, and exchange shall pay any taxes or governmental charges
required to be paid with respect thereto The Paying Agent/
Registrar shall not be required to make any such assignment,
conversion, or exchange (i) during the period commencing with
the close of business on any Record Date and ending with the
opening of business on the next following principal or interest
payment date, or, (ii) with respect to any Bond or portion
thereof called for prepayment or redemption prior to maturity,
within 45 days prior to its prepayment or redemption date.
IN THE EVENT any Paying Agent/Registrar for this Bond is
changed by the Issuer, resigns, or otherwise ceases to act as
such, the Issuer has covenanted in the Bond Ordinance that it
promptly will appoint a competent and legally qualified
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