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. t <br /> . + r <br /> authenticate and deliver in exchange therefor, without charge to the owner thereof, a definitive <br /> Bond or Bonds of an equal aggregate principal amount of the same maturity and bearing interest <br /> at the same rate as the temporary Bond surrendered. Until so exchanged, the temporary Bonds <br /> shall in all respects be entitled to the same benefit and security of this Indenture as the definitive <br /> Bonds to be issued and authenticated hereunder. Interest on temporary Bonds, when due and <br /> payable, if the definitive Bond shall not be ready for exchange, shall be paid on presentation of <br /> such temporary Bonds for notation of such payment thereon by the Trustee. <br /> Section 208. Book-Entry System. The Bonds shall be initially issued in Book-Entry <br /> Form by using and delivering to the Depository one typed Bond for each stated maturity of the <br /> Bonds, registered to Cede & Co., and entering into the Letter of Representations. While the <br /> Bonds remain issued in Book-Entry Form, the provisions of this Indenture which conflict with. <br /> the operation of the Book-Entry System shall not apply, and the provisions of the Letter of <br /> Representation relating to such Book-Entry System and the following provisions shall prevail. <br /> (a) Registration. Recording and Transfer of Ownership. The Depository (or its <br /> nominees) shall be and remain recorded on the Bond Register as the Holder of all Bonds which <br /> are in Book-Entry Form. No transfer of any Bond in Book-Entry Form shall be made, except <br /> from one Depository to another (or its nominee) or except to terminate the Book-Entry Form. <br /> All Bonds of each stated maturity in Book-Entry Form shall be issued and remain in a single <br /> Bond certificate registered in the name of the.Depository (or its nominee); provided, however, <br /> that upon termination of the Book-Entry Form pursuant to the Letter of Representations or as <br /> otherwise directed by written notice of the Developer to the Issuer, the Trustee and Depository, <br /> the Issuer shall, upon delivery of all Bonds from the Depository, promptly execute, and the <br /> Trustee shall thereupon authenticate and deliver, Bonds to all persons who were Beneficial <br /> Owners thereof immediately prior to such termination, and the Trustee. shall register such <br /> Beneficial Owners as Holders of the applicable Bonds. The Trustee, as bond registrar and <br /> paying agent, shall maintain accurate books and records of the principal balance, if any, of each <br /> such Outstanding Bond in Book-Entry Form, which shall be conclusive for all purposes <br /> whatsoever. Upon the authentication of any new Bond in Book-Entry Form in exchange for a <br /> previous Bond, the Trustee shall designate thereon the principal balance remaining on such Bond <br /> according to the Trustee's books and records. <br /> (b) Notices. The Issuer and Trustee shall each give notices to the Depository of such <br /> matters and at such times as are required by the Letter of Representations. All notices of any <br /> nature required or permitted hereunder to be delivered to a Holder of a Bond in Book-Entry <br /> Form shall be transmitted to Beneficial Owners of such Bonds at such times and in such manner <br /> as shall be determined by the Depository and the Participants in accordance with the Book-Entry <br /> System and Letter of Representations. <br /> (c) Payments. All payments of principal of and interest on Bonds while in <br /> Book-Entry Form shall be paid to the Depository in accordance with the Book-Entry System and <br /> 3152.1 16 <br />