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bonds redeemed, provided, however, that failure to give such notice by mailing, or any defect <br /> therein, with respect to any bond shall not affect the validity of any proceedings for the <br /> redemption of any other bonds. The notice shall specify the date and place of redemption, the <br /> redemption price and the CUSIP numbers of the bonds called for redemption. The place of <br /> redemption may be determined by the Commission. Interest on the bonds so called for <br /> redemption shall cease on the redemption date fixed in such notice if sufficient funds are <br /> available at the place of redemption to pay the redemption price on the date so named, and <br /> thereafter, such bonds shall no longer be protected by the Resolution and shall not be deemed to <br /> be outstanding thereunder. <br /> This bond is subject to defeasance prior to payment or redemption as provided in the <br /> Resolution. <br /> If this bond shall not be presented for payment or redemption on the date fixed therefor, <br /> the Commission may deposit in trust with the Paying Agent or another paying agent, an amount <br /> sufficient to pay such bond or the redemption price, as the case may be, and thereafter the <br /> Registered Owner shall look only to the funds so deposited in trust for payment and the City <br /> shall have no further obligation or liability in respect thereto. <br /> This bond is transferable or exchangeable only upon the registration record kept for that <br /> purpose at the office of the Registrar by the Registered Owner in person, or by the Registered <br /> Owner's attorney duly authorized in writing, upon surrender of this bond together with a written <br /> instrument of transfer or exchange satisfactory to the Registrar duly executed by the Registered <br /> Owner or such attorney, and thereupon a new fully registered bond or bonds in the same <br /> aggregate principal amount, and of the same maturity, shall be executed and delivered in the <br /> name of the transferee or transferees or the Registered Owner, as the case may be, in exchange <br /> therefor. The City, the Commission, any registrar and any paying agent for this bond may treat <br /> and consider the person in whose name this bond is registered as the absolute owner hereof for <br /> all purposes including for the purpose of receiving payment of, or on account of, the principal <br /> hereof and interest and premium, if any, due hereon. <br /> The bonds maturing on any maturity date are issuable only in the denomination of$5,000 <br /> or any integral multiple thereof. <br /> [This bond has been designated as a qualified tax-exempt obligation for purposes of <br /> Section 265(b)(3)of the Internal Revenue Code of 1986, as amended.] <br /> [A Continuing Disclosure Contract from the Commission to each registered owner or <br /> holder of any bond, dated as of the date of initial issuance of the bonds(the"Contract"),has been <br /> executed by the Commission, a copy of which is available from the Commission and the terms of <br /> which are incorporated herein by this reference. The Contract contains certain promises of the <br /> Commission to each registered owner or holder of any bond, including a promise to provide <br /> certain continuing disclosure. By its payment for and acceptance of this bond, the registered <br /> owner or holder of this bond assents to the Contract and to the exchange of such payment and <br /> acceptance for such promises.] <br /> 8 <br />