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T � <br /> Y r j • l c <br /> registered mail. The Registrar and Paying Agent may also be <br /> removed at any time as Registrar and Paying Agent by the City, in <br /> which event the City may appoint a successor Registrar and Paying <br /> Agent. The City shall notify each registered owner of Bonds then <br /> outstanding by first-class mail of the removal of the Registrar and <br /> Paying Agent. Notices to registered owners of the Bonds shall be <br /> deemed to be given when mailed by first-class mail to the addresses <br /> of such registered owners as they appear on the registration books <br /> kept by the Registrar. Any predecessor Registrar and Paying Agent <br /> shall deliver all of the Bonds and cash in its possession with <br /> respect thereto, together with the registration books, to the <br /> successor Registrar and Paying Agent. The Controller is hereby <br /> authorized to act on behalf of the City with regard to any of the <br /> aforementioned actions of the City relating to the resignation or <br /> removal of the Registrar and Paying Agent and appointment of a <br /> successor Registrar and Paying Agent. <br /> Section 6. Transfer, Exchange, and Non-Presentment of <br /> Bonds. Each Bond shall be transferable or exchangeable only on the <br /> books of the City maintained for such purpose at the office of the <br /> Registrar, by the registered owner thereof in person, or by his or <br /> her attorney duly authorized in writing, upon surrender of such <br /> Bond together with a written instrument of transfer or exchange <br /> satisfactory to the Registrar duly executed by the registered owner <br /> or his or her attorney duly authorized in writing, and thereupon <br /> a new fully registered Bond or Bonds in the same aggregate <br /> principal amount and of the same maturity shall be executed and <br /> delivered in the name of the transferee or transferees or the <br /> registered owner, as the case may be, in exchange therefor. Each <br /> Bond may be transferred or exchanged without cost to the registered <br /> owner or his or her attorney duly authorized in writing, except for <br /> any tax or other governmental charge which may be required to be <br /> paid with respect to such transfer or exchange. The Registrar <br /> shall not be obligated to make any transfer or exchange of any Bond <br /> (i) during the fifteen (15) days immediately preceding an Interest <br /> Payment Date, (ii) during the fifteen (15) days immediately <br /> preceding the mailing of a notice of redemption of such Bond to be <br /> redeemed, or (iii) after the mailing of notice calling such Bond <br /> for redemption. The City, the Registrar and the Paying Agent may <br /> treat and consider the person in whose name any Bond is registered <br /> as the absolute owner thereof for all purposes including the <br /> purpose of receiving payment of, or on account of, the principal <br /> thereof, and redemption premium, if any, and interest thereon. <br /> In the event any Bond is mutilated, lost, stolen or <br /> destroyed, the City may cause to be executed and the Registrar may <br /> authenticate a new Bond of like date, maturity, and denomination <br /> as the mutilated, lost, stolen or destroyed Bond, which new Bond <br /> shall be marked in a manner to distinguish it from the Bond for <br /> which it was issued; provided, that in the case of any mutilated <br /> Bond, such mutilated Bond shall first be surrendered to the <br /> Registrar, and in the case of any lost, stolen or destroyed Bond <br /> 5 <br />