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This bond is transferable or exchangeable only upon the Bond Register by the Registered Owner
<br />hereof in person, or by his attorney duly authorized in writing, upon surrender of this bond together with a written
<br />instrument of transfer or exchange satisfactory to the Registrar duly executed by the Registered Owner or his
<br />attorney duly authorized in writing and thereupon a new fully registered bond or bonds in the same aggregate
<br />principal amount and of the same maturity shall be executed and delivered in the name of the transferee or
<br />transferees or the Registered Owner, as the case may be, in exchange therefor. Bonds shall not be sold or transferred
<br />in principal amounts of less than $100,000 without the opinion of counsel that the sale or transfer conforms to
<br />securities laws. This bond may be transferred or exchanged without cost to the Registered Owner, except for any
<br />tax or governmental charge required to be paid with respect to the exchange. The Registrar shall not be required to
<br />transfer or exchange this bond if it has been called for redemption or during the period from the fifteenth day of any
<br />calendar month immediately preceding an interest payment date to such interest payment date.
<br />The City, the Commission, the Registrar and Paying Agent may treat and consider the person in
<br />whose name this bond is registered as the absolute owner hereof for all purposes including for the purpose of
<br />receiving payment of, or on account of, the principal hereof and interest due hereon.
<br />In the manner provided in the Resolution, the Resolution and the rights and obligations of the
<br />Commission and of the owners of the bonds may (with certain exceptions as stated in the Resolution) be modified or
<br />amended with the consent of the owners of at least sixty percent (60 %) in aggregate principal amount of outstanding
<br />bonds exclusive of bonds, if any, owned by the Commission or the City.
<br />In the event this bond is mutilated, lost, stolen or destroyed, the City may execute and the
<br />Registrar may authenticate a new bond of like date, maturity and denomination as this bond, which new bond shall
<br />be marked in a manner to distinguish it from this bond; provided, that in the case of this bond being mutilated, this
<br />bond shall first be surrendered to the City and the Registrar, and in the case of this bond being lost, stolen, or
<br />destroyed, there shall first be furnished to the City and the Registrar evidence of such loss, theft or destruction
<br />satisfactory to the City and the Registrar, together with indemnity satisfactory to them. In the event that this bond,
<br />being lost, stolen or destroyed, shall have matured, instead of issuing a duplicate bond the City and the Registrar
<br />may, upon receiving indemnity satisfactory to them, pay this bond without surrender hereof. The City and the
<br />Registrar may charge the owner of this bond with their reasonable fees and expenses in connection with the above.
<br />Every substitute bond issued by reason of this bond being lost, stolen or destroyed shall, with respect to this bond,
<br />constitute a substitute contractual obligation of the City, acting for and on behalf of the District, whether or not this
<br />bond, being lost, stolen or destroyed shall be found at any time and shall be entitled to all the benefits of the
<br />Resolution, equally and proportionately with any and all other bonds duly issued thereunder.
<br />The Registrar or Paying Agent may at any time resign as Registrar or Paying Agent by giving
<br />thirty (30) days' written notice to the Commission and by first -class mail to the registered owners of bonds then
<br />outstanding, and such resignation will take effect at the end of such thirty (30) days or upon the earlier appointment
<br />of a successor Registrar or Paying Agent, as the case may be, by the Commission. Such notice to the Commission
<br />may be served personally or be sent by registered mail. The Registrar or the Paying Agent may be removed at any
<br />time as Registrar or Paying Agent by the Commission, in which event the Commission may appoint a successor
<br />Registrar or Paying Agent, as the case may be. The Commission shall cause the registered owner of this bond to be
<br />notified, if then outstanding, by first -class mail, of the removal of the Registrar or Paying Agent. Notices to
<br />registered owners of bonds shall be deemed to be given when mailed by first -class mail to the addresses of such
<br />registered owners as they appear in the registration books kept by the Registrar.
<br />If this bond or a portion thereof shall have become due and payable in accordance with its terms or
<br />shall have been duly called for redemption or irrevocable instructions to call this bond or a portion thereof for
<br />redemption shall have been given, and the whole amount of the principal or and premium, if any, and interest, so
<br />due and payable upon all of this bond or a portion thereof then outstanding shall be paid or (i) sufficient monies for
<br />such purpose, or (ii) direct obligations of, or obligations the principal of and interest on which are unconditionally
<br />guaranteed by, the United States of America, the principal of and the interest on which when due will provide
<br />sufficient monies for such purpose, or (iii) time certificates of deposit fully secured as to both principal and interest
<br />by obligations of the kind described in (ii) above of a bank or banks, the principal of and interest on which when due
<br />will provide sufficient monies for such purpose, shall be held in trust for such purpose, and provision shall also have
<br />BDDB01 6406657v2
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