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The proceeds of the Bonds shall be paid over to the Trustee and deposited to the <br /> Project Fund as hereinafter provided under Section 3.1 hereof. <br /> Mutilated, Lost, Stolen or Destroyed Bonds. In the event any Bond is mutilated, lost, stolen or <br /> destroyed, the Issuer, through the Trustee, may execute and the Trustee may authenticate a new <br /> Bond of like date, maturity and denomination as that mutilated, lost, stolen or destroyed;provided <br /> that,in the case of any mutilated Bond,such mutilated Bond shall first be surrendered to the Issuer, <br /> and in the case of any lost, stolen or destroyed Bond, there shall be first furnished to the Trustee <br /> evidence of such loss, theft or destruction satisfactory to the Trustee, together with indemnity <br /> satisfactory to it. <br /> In the event any such Bond shall have matured or been called for redemption in <br /> full, instead of issuing a duplicate Bond the Issuer may pay the same without surrender thereof; <br /> provided,however,that in the case of a lost,stolen or destroyed Bond,there shall be first furnished <br /> to the Trustee evidence of such loss, theft or destruction satisfactory to the Trustee;together with <br /> indemnity satisfactory to it. The Trustee may charge the holder or owner of such Bond with their <br /> reasonable fees and expenses in this connection.Any Bond issued pursuant to this Section 2.8 shall <br /> be deemed part of the original series of Bonds in respect of which it was issued and an original <br /> additional contractual obligation of the Issuer. <br /> Registration and Exchange of Bonds: Persons Treated as Owners. The Issuer shall cause books <br /> for the registration and for the transfer of the Bonds as provided in this Indenture to be kept by the <br /> Trustee which is hereby constituted and appointed the registrar of the Issuer. Upon surrender for <br /> transfer of any fully registered Bond at the principal office of the Trustee, duly endorsed by, or <br /> accompanied by a written instrument or instruments of transfer in form satisfactory to the Trustee <br /> and duly executed by the registered owner or his attorney duly authorized in writing, the Issuer <br /> shall execute and the Trustee shall authenticate and deliver in the name of the transferee or <br /> transferees a new fully registered Bond or Bonds of the same series and the same maturity for a <br /> like aggregate principal amount.The execution by the Issuer of any fully registered Bond without <br /> coupons of any denomination shall constitute full and due authorization of such denomination,and <br /> the Trustee shall thereby be authorized to authenticate and deliver such registered Bond.The costs <br /> of such transfer or exchange shall be borne by the Issuer. The Trustee shall not be required to <br /> transfer or exchange any fully registered Bond during the period between the Record Date and any <br /> interest payment date of such Bond, nor to transfer or exchange any Bond after the mailing of <br /> notice calling such Bond for redemption has been made, nor during a period of fifteen (15) days <br /> next preceding mailing of a notice of redemption of any Bonds. <br /> As to any fully registered Bond without coupons, the person in whose name the <br /> same shall be registered shall be deemed and regarded as the absolute owner thereof for all <br /> purposes, and payment of principal or interest thereon, shall be made only to or upon the order of <br /> the registered owner thereof or his legal representative, but such registration may be changed as <br /> hereinabove provided. All such payments shall be valid and effectual to satisfy and discharge the <br /> liability upon such Bond to the extent of the sum or sums so paid. <br /> Reserved. <br /> (End of Article II) <br /> 16 <br />