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IN THE EVENT any Paying Agent/Registrar for this Bond 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 promptly will cause written <br />notice thereof to be mailed to the registered owner of this Bond. <br />IT IS HEREBY certified, recited, and covenanted that this Bond has been duly and validly <br />authorized, issued, sold, 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 <br />Bond have been performed, existed, and been done in accordance with law, that this Bond is a <br />special obligation; and that the interest on and principal of this Bond, together with other outstanding <br />revenue bonds of the Issuer, are payable from and secured by a first lien on and pledge of the Net <br />Revenues of said Issuer's Waterworks and Sewer System. <br />THE ISSUER has reserved the right, subject to the restrictions stated and adopted by <br />reference in the Ordinance authorizing this Series of Bonds, to issue additional parity revenue bonds <br />which also may be made payable from, and secured by a lien on and pledge of the aforesaid Net <br />Revenues. <br />THE O WNER HEREOF shal l never have the right to demand payment of this obligation out <br />of any funds raised or to be raised by taxation, or from any source whatsoever other than the <br />aforesaid Net Revenues. <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 the <br />registered owner hereof and the Issuer. <br />IN WITNESS WHEREOF, the Issuer has caused this Bond to be signed with the manual <br />signature of the Mayor of the Issuer and countersigned with the manual signature of the City Clerk <br />of the Issuer, has caused the official seal of the Issuer to be duly impressed on this Bond, and has <br />caused this Bond to be dated September l, 1998. <br />City Clerk <br />(CITY SEAL) <br />Mayor <br />7 <br />