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with the Bonds with respect to the pledge of the Bosch Funds and the Mortgage and Collateral <br />Assignment (as set forth herein). <br />The Clerk of the City is hereby appointed as registrar (the "Registrar") for the Bonds <br />and is hereby charged with the responsibility of authenticating the Bonds. The Registrar shall keep <br />and maintain at its principal office books for the registration of the Bonds. The Bonds shall be <br />transferrable or exchangeable only upon the bond register by the registered owner thereof in person, <br />or by his attorney duly authorized in writing, upon surrender of such Bond together with a written <br />statement of transfer or exchange satisfactory to the Registrar duly executed by the registered owner, <br />or his attorney duly authorized in writing, and thereupon a new fully registered Bond in the same <br />aggregate principal amount and of the same maturity shall be executed and delivered in the name of <br />the transferee or transferees or the registered owner, as the case maybe, and in exchange therefor. <br />Section 3. The Bonds to be issued by the City to evidence the Loan shall be <br />secured by the Mortgage and the Collateral Assignment. The City hereby pledges the Mortgage and <br />the Collateral Assignment to secure the payment of the principal of and interest on the Bonds. Such <br />pledge is on a parity with the pledge made of the Mortgage and Collateral Assignment with respect <br />to the Parity Bonds and senior to the pledge made with respect to the Junior Bonds. The City further <br />pledges the Bosch Funds, which pledge is on a parity with the pledge of the Bosch funds for the <br />Parity Bonds and senior to the pledge of the Bosch Funds for the Junior Bonds for the purpose of <br />paying the principal of and interest on the Bonds. <br />Section 4. The Mayor and the Clerk of the City are hereby authorized and <br />directed to execute, attest, and deliver and the Clerk is hereby authorized to affix the seal on, when <br />and if appropriate, the Loan Agreement, the Mortgage, and the Collateral Assignment together with <br />:ODMA~MI-IODMA~SBIMAN1;102939;3 '4' <br />