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maturity shall be executed and delivered in the name of the <br />transferee or transferees or the registered owner, as the <br />case may be, in exchange therefor. Bonds may be <br />transferred or exchanged without cost to the registered <br />owner, except for any tax or governmental charge required <br />to be paid with respect to the exchange. The Registrar <br />shall not be required to transfer or exchange any bond <br />called for redemption or during the period from the <br />fifteenth day of any calendar month immediately preceding <br />an interest payment date to such interest payment date. <br />The City, the Commission, the Registrar and the Paying <br />Agent may treat and consider the person in whose name any <br />such bond is registered as the absolute owner thereof for <br />all purposes including for the purpose of receiving payment <br />of, or on account of, the principal thereof and interest <br />due thereon, and the premium, if any. All such payments <br />shall be valid and effectual to satisfy and discharge the <br />liability upon such bonds to the extent of the sums so <br />paid. <br />In the event any bond is mutilated, lost, stolen or <br />destroyed, the City may execute and the Registrar may <br />authenticate a new bond of like date, maturity and <br />denomination as that mutilated, lost, stolen or destroyed, <br />which new bond shall be marked in a manner to distinguish <br />it from the bond for which it was issued, provided that, in <br />the case of any mutilated bond, such mutilated bond shall <br />first be surrendered to the Registrar, and in the case of <br />any lost, stolen or destroyed bond there shall be f irst <br />furnished to the Registrar evidence of such loss, theft or <br />destruction satisfactory to the City and the Registrar, <br />together with indemnity satisfactory to them. In the event <br />any such bond shall have matured, instead of issuing a <br />duplicate bond, the City and the Registrar may, upon <br />receiving indemnity satisfactory to them, pay the same <br />without surrender thereof. The City and the Registrar may <br />charge the owner of such bond with their reasonable fees <br />and expenses in this connection. Any bond issued pursuant <br />to this paragraph shall be deemed an original, substitute <br />contractual obligation of the City, acting for and on <br />behalf of the Redevelopment District, whether or not the <br />lost, stolen or destroyed bond shall be found at any time, <br />and shall be entitled to all the benefits of the <br />Resolution, equally and proportionately with any and all <br />other bonds duly issued thereunder. <br />The bonds of this issue are issuable only in fully <br />registered form in the denomination of $5,000 or any <br />integral multiple thereof. <br />This bond may be defeased as set forth in the <br />Resolution. <br />-10- <br />