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the failure of the registered owner to receive such notice, or any defect therein or in the sending or
<br />mailing thereof, shall not affect the validity or effectiveness of the proceedings for the redemption
<br />of any Bond. By the date fixed for any such redemption due provision shall be made with the
<br />Paying Agent/Registrar for the payment of the required redemption price for the Bonds or portions
<br />thereof that are to be so redeemed. If such written notice of redemption is sent and if due provision
<br />for such payment is made, all as provided above, the Bonds or portions thereof that are to be so
<br />redeemed thereby automatically shall be treated as redeemed prior to their scheduled maturities, and
<br />they shall not bear interest after the date fixed for redemption, and they shall not be regarded as
<br />being outstanding except for the right of the registered owner to receive the redemption price from
<br />the Paying Agent/Registrar out of the funds provided for such payment. If a portion of any Bond
<br />shall be redeemed, a substitute Bond or Bonds having the same maturity date, bearing interest at the
<br />same rate, in any denomination or denominations in any integral multiple of $5,000, at the written
<br />request of the registered owner, and in aggregate principal amount equal to the unredeemed portion
<br />thereof, will be issued to the registered owner upon the surrender thereof for cancellation, at the
<br />expense of the Issuer, all as provided in the Bond Ordinance.
<br />ALL BONDS OF THIS SERIES are issuable solely as fully registered bonds, without
<br />interest coupons, in the denomination of any integral multiple of $5,000. As provided in the Bond
<br />Ordinance, this Bond may, at the request of the registered owner or the assignee or assignees hereof,
<br />be assigned, transferred, converted into and exchanged for a like aggregate principal amount of fully
<br />registered Bonds, without interest coupons, payable to the appropriate registered owner, assignee
<br />or assignees, as the case may be, having the same denomination or denominations in any integral
<br />multiple of $5,000 as requested in writing by the appropriate registered owner, assignee or
<br />assignees, as the case may be, upon surrender of this Bond to the Paying Agent/Registrar for
<br />cancellation, all in accordance with the form and procedures set forth in the Bond Ordinance.
<br />Among other requirements for such assignment and transfer, this Bond must be presented and
<br />surrendered to the Paying Agent/Registrar, together with proper instruments of assignment, in form
<br />and with guarantee of signatures satisfactory to the Paying Agent/Registrar, evidencing assignment
<br />of this Bond or any portion or portions hereof in any integral multiple of $5,000 to the assignee or
<br />assignees in whose name or names this Bond or any such portion or portions hereof is or are to be
<br />registered. The form of Assignment printed or endorsed on this Bond may be executed by the
<br />registered owner to evidence the assignment hereof, but such method is not exclusive, and other
<br />instruments of assignment satisfactory to the Paying Agent/Registrar may be used to evidence the
<br />assignment of this Bond or any portion or portions hereof from time to time by the registered owner.
<br />The Paying Agent/Registrar's reasonable standard or customary fees and charges for assigning,
<br />transferring, converting and exchanging any Bond or portion thereof will be paid by the Issuer. In
<br />any circumstance, any taxes or governmental charges required to be paid with respect thereto shall
<br />be paid by the one requesting such assignment, transfer, conversion or exchange, as a condition
<br />precedent to the exercise of such privilege. The Paying Agent/Registrar shall not be required to
<br />make any such transfer, conversion, or exchange (i) during the period commencing with the close
<br />of business on any Record Date and ending with the opening of business on the next following
<br />principal or interest payment date, or (ii) with respect to any Bond or any portion thereof called for
<br />redemption prior to maturity, within 45 days prior to its redemption date.
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