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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 AgentlRegistrar 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. <br />IN THE EVENT any Paying AgentlRegistrar for the Bonds is changed by the Issuer, resigns, <br />or otherwise ceases to act as such, the Issuer has covenanted in the Bond Ordinance that it promptly <br />will appoint a competent and legally qualified substitute therefor, and cause written notice thereof <br />to be mailed to the registered owners of the Bonds. <br />IT IS HEREBY certified, recited and covenanted that this Bond has been duly and validly <br />authorized, issued and delivered; that all acts, conditions and things required or proper to be <br />performed, exist and be done precedent to or in the authorization, issuance and delivery of this Bond <br />have been performed, existed and been done in accordance with law; and that annual ad valorem <br />taxes sufficient to provide for the payment of the interest on and principal of this Bond, as such <br />interest comes due and such principal matures, have been levied and ordered to be levied against all <br />taxable property in said Issuer, and have been pledged for such payment, within the limit prescribed <br />by law. <br />THE ISSUER HAS RESERVED THE RIGHT to amend the Bond Ordinance as provided <br />therein, and under some (but not all) circumstances amendments thereto must be approved by the <br />registered owners of a majority in aggregate principal amount of the outstanding Bonds. <br />BY BECOMING the registered owner of this Bond, the registered owner thereby <br />acknowledges all of the terms and provisions of the Bond Ordinance, agrees to be bound by such <br />terms and provisions, acknowledges that the Bond Ordinance is duly recorded and available for <br />inspection in the official minutes and records of the governing body of the Issuer, and agrees that <br />the terms and provisions of this Bond and the Bond Ordinance constitute a contract between each <br />registered owner hereof and the Issuer. <br />IN WITNESS WHEREOF, the Issuer has caused this Bond to be signed with the manual or <br />facsimile signature of the Mayor of the Issuer (or in the Mayor's absence, by the Mayor Pro-Tem) <br />and countersigned with the manual or facsimile signature of the City Secretary of the Issuer, and has <br />caused the official seal of the Issuer to be duly impressed, or placed in facsimile, on this Bond. <br />(signature) <br />City Secretary <br />(signature) <br />Mayor <br />(SEAL) <br />10 <br />~~0l5i <br />