14-20 Cedar Glen Bond Ordinance Addendums

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with such appropriate variations, omissions and insertions as are permitted or required by this Agreement or deemed necessary by the Mayor and City Clerk of the Issuer. Section 2.8 Delivery of Bonds. Upon the execution and delivery of this Agreement, the Issuer shall execute and deliver to MBI the Bonds in the maximum aggregate stated principal drawing amount of$3,081,732.00. The City Clerk of the Issuer shall authenticate such Bonds and deliver them to MBI, as purchaser thereof,upon receipt of: (a) A copy, duly certified by the City Clerk of the Issuer, of the ordinance adopted and approved by the Issuer authorizing the execution and delivery of the Loan Documents and this Agreement and the issuance of the Bonds; (b) Executed counterparts of the Loan Documents and this Agreement; (c) The Note in the principal amount equal to the principal amount of the Bonds, duly executed by the Borrower and endorsed by the Issuer to the order of the Bondholder; and (d) A written request of the Borrower requesting the Issuer to authenticate, or cause to be authenticated, and deliver the Bonds in the stated principal amount of $3,081,732.00, of which $ shall be paid over to the Issuer and deposited to the credit of various Funds as provided under Section 3.1 hereof. Section 2.9 Mutilated, Lost, Stolen or Destroyed Bonds. If any Bond is mutilated, lost, stolen or destroyed, the Issuer may execute and the City Clerk of the Issuer may authenticate a new Bond of like date, maturity and denomination as that mutilated, lost, stolen or destroyed; provided that, in the case of any mutilated Bond, such mutilated Bond shall first be surrendered to the Issuer, and in the case of any lost, stolen or destroyed Bond, there shall be first furnished to the City Clerk of the Issuer evidence of such loss,theft or destruction satisfactory to MBI,together with indemnity satisfactory to it. If any such Bond shall have matured, instead of issuing a duplicate Bond, the Issuer may pay the same without surrender thereof; provided, however, that in the case of a lost, stolen or destroyed Bond, there shall be first furnished to the City Clerk of the Issuer evidence of such loss, theft or destruction satisfactory to the City Clerk of the Issuer, together with indemnity satisfactory to it. The Issuer may charge the holder or owner of such Bond with its reasonable fees and expenses in this connection. Any Bond issued pursuant to this Section 2.9 shall be deemed part of the original series of Bonds in respect of which it was issued and an original additional contractual obligation of the Issuer. Section 2.10 Registration and Exchange of Bonds; Persons Treated as Owners. The Issuer shall cause books for the registration and for the transfer of the Bonds as provided in this Agreement to be kept by the City Clerk of the Issuer, which is hereby constituted and appointed the registrar of the Issuer (the "Registrar"). Upon surrender for transfer of any fully registered Bond at the office of the City Clerk of the Issuer, duly endorsed by, or accompanied by a written instrument or instruments of transfer in form satisfactory to the City Clerk of the Issuer, and duly executed by the registered owner or his attorney duly authorized in writing, the Issuer shall execute and the City Clerk of the Issuer shall authenticate and deliver in the name of the transferee or transferees a new fully registered Bond or Bonds of the same series and maturity for a like aggregate principal amount. The execution by the Issuer of any fully registered Bond without coupons of any denomination shall constitute full and due authorization of such denomination,and the City Clerk of the Issuer shall thereby be authorized to authenticate and deliver such registered Bond. The City Clerk of the Issuer shall not be required to transfer or exchange any fully registered Bond during the period between the Record Date and any Interest Payment Date of such Bond, nor to transfer or exchange any Bond after the mailing of notice calling such Bond for redemption has Page 16