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<br />principal or interest payment date, or, (ii) with respect to any Certificate of Obligation or portion <br />thereof called for redemption prior to maturity, within 45 days prior to its redemption date. <br /> <br />IN THE EVENT any Paying Agent/Registrar for the Certificates of Obligation is changed <br />by the Issuer, resigns, or otherwise ceases to act as such, the Issuer has covenanted in the Certificate <br />of Obligation Ordinance that it promptly will appoint a competent and legally qualified substitute <br />therefor, and promptly will cause written notice thereof to be mailed to the registered owners of the <br />Certificates of Obligation. <br /> <br />IT IS HEREBY certified, recited, and covenanted that this Certificate of Obligation has been <br />duly and validly authorized, issued, and delivered; that all acts, conditions, and things required or <br />proper to be performed, exist, and be done precedent to or in the authorization, issuance, and delivery <br />of this Certificate of Obligation have been performed, existed, and been done in accordance with <br />law; that this Certificate of Obligation is a general obligation of the Issuer, issued on the full faith <br />and credit thereof; and that ad valorem taxes sufficient to provide for the payment of the interest on <br />and principal of this Certificate of Obligation, as such interest and principal come due, have been <br />levied and ordered to be levied against all taxable property in the Issuer, and have been pledged for <br />such payment, within the limit prescribed by law, and that this Certificate of Obligation, together <br />with other obligations of the Issuer, is additionally secured by and payable from limited surplus <br />revenues of the Issuer's Waterworks and Sewer System, remaining after payment of all operation and <br />maintenance expenses thereof, and all debt service, reserve, and other requirements in connection <br />with all of the Issuer's revenue Certificates of Obligation or other obligations (now or hereafter <br />outstanding), which are payable from all or any part of the Net Revenues of the Issuer's Waterworks <br />and Sewer System. <br /> <br />BY BECOMING the registered owner of this Certificate of Obligation, the registered owner <br />thereby acknowledges all of the terms and provisions of the Certificate of Obligation Ordinance, <br />agrees to be bound by such terms and provisions, acknowledges that the Certificate of Obligation <br />Ordinance is duly recorded and available for inspection in the official minutes and records of the <br />governing body of the Issuer, and agrees that the terms and provisions of this Certificate of <br />Obligation and the Certificate of Obligation Ordinance constitute a contract between each registered <br />owner hereof and the Issuer. <br /> <br />IN WITNESS WHEREOF, the Issuer has caused this Certificate of Obligation to be signed <br />with the manual or facsimile signature of the Mayor of the Issuer and countersigned with the manual <br />or facsimile signature of the City Clerk of the Issuer, and has caused the official seal of the Issuer <br />to be duly impressed, or placed in facsimile, on this Certificate of Obligation. <br /> <br />City Clerk <br /> <br />Mayor <br /> <br />CITY SEAL <br /> <br />21 <br />