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<br /> Section 24. DAMAGED, MUTILATED, LOST, STOLEN, OR DESTROYED BONDS.
<br /> (a) Revlacement Bonds. In the event any outstanding Bond is damaged, mutilated, lost, stolen, or
<br /> destroyed, the Paying Agent/Registrar shall cause to be printed, executed, and delivered, a new bond
<br /> of the same principal amount, maturity, and interest rate, as the damaged, mutilated, lost, stolen, or
<br /> destroyed Bond, in replacement for such Bond in the manner hereinafter provided.
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<br /> (b) Application for Replacement Bonds. Application for replacement of damaged, mutilated,
<br /> lost, stolen, or destroyed Bonds shall be made by the registered owner thereof to the Paying
<br /> Agent/Registrar. In every case of loss, theft, or destruction of a Bond, the registered owner applying
<br /> for a replacement bond shall furnish to the Issuer and to the Paying Agent/Registrar such security
<br /> or indemnity as may be required by them to save each of them harmless from any loss or damage
<br /> with respect thereto. Also, in every case of loss, theft, or destruction of a Bond, the registered owner
<br /> shall furnish to the Issuer and to the Paying Agent/Registrar evidence to their satisfaction of the loss,
<br /> theft, or destruction of such Bond, as the case may be. In every case of damage or mutilation of a
<br /> Bond, the registered owner shall surrender to the Paying Agent/Registrar for cancellation the Bond
<br /> so damaged or mutilated.
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<br /> (c) No Default Occurred. Notwithstanding the foregoing provisions of this Section, in the
<br /> event any such Bond shall have matured, and no default has occurred which is then continuing in
<br /> the payment of the principal of, redemption premium, if any, or interest on the Bond, the Issuer may
<br /> authorize the payment of the same (without surrender thereof except in the case of a damaged or
<br /> mutilated Bond) instead of issuing a replacement Bond, provided security or indemnity is furnished
<br /> as above provided in this Section.
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<br /> (d) Charge for Issuing, Replacement Bonds. Prior to the issuance of any replacement bond,
<br /> the Paying Agent/Registrar shall charge the registered owner of such Bond with all legal, printing,
<br /> and other expenses in connection therewith. Every replacement bond issued pursuant to the
<br /> provisions of this Section by virtue of the fact that any Bond is lost, stolen, or destroyed shall
<br /> constitute a contractual obligation of the Issuer whether or not the lost, stolen, or destroyed Bond
<br /> shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of
<br /> this Resolution equally and proportionately with any and all other Bonds duly issued under this
<br /> Resolution.
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<br /> (e) Authority for Issuing Replacement Bonds. In accordance with Section 6 of Article 717k-
<br /> 6, Texas Revised Civil Statutes, this Section shall constitute authority for the issuance of any such
<br /> replacement bond without necessity of further action by the governing body of the Issuer or any
<br /> other body or person, and the duty of the replacement of such bonds is hereby authorized and
<br /> imposed upon the Paying Agent/Registrar, and the Paying Agent/Registrar shall authenticate and
<br /> deliver such Bonds in the form and manner and with the effect, as provided in Section 4(d)of this
<br /> Resolution, for Bonds issued in conversion and exchange for other Bonds.
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