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<br /> <br /> <br /> <br /> <br /> <br /> of Obligation is being exchanged; and each such Certificate of Obligation shall bear interest <br /> at the single rate applicable to and borne by such installment of principal or portion thereof <br /> for which it is being exchanged. If only a portion of the Initial Certificate of Obligation is <br /> assigned and transfened, there shall be delivered to and registered in the name of the initial <br /> registered owner substitute Certificates of Obligation in exchange for the unassigned balance <br /> of the Initial Certificate of Obligation in the same manner as if the initial registered owner <br /> were the assignee thereof. If any Certificate of Obligation or portion thereof other than the <br /> Initial Certificate of Obligation is assigned and transferred or converted each Certificate of <br /> Obligation issued in exchange therefor shall have the same principal maturity date and bear <br /> interest at the same rate as the Certificate of Obligation for which it is exchanged. A form <br /> of assignment shall be printed or endorsed on each Certificate of Obligation, excepting the <br /> Initial Certificate of Obligation, which shall be executed by the registered owner or its duly <br /> authorized attorney or representative to evidence an assignment thereof. Upon surrender <br /> of any Certificates of Obligation or any portion or portions thereof for transfer of <br /> registradon, an authorized representative of the Paying Agent/Registrar shall make such <br /> transfer in the Registration Books, and shall deliver a new fully registered substitute <br /> Certificate of Obligation or Certificates of Obligation, having the characteristics herein des- <br /> cnbed, payable to such assignee or assignees (which then will be the registered owner or <br /> owners of such new CertiScate of Obligation or CertiScates of Obligation), or to the <br /> previous registered owner in case only a portion of a Certificate of Obligation is being <br /> assigned and transferred, all in conversion of and exchange for said assigned Certificate of <br /> Obligation or CertiScates of Obligation or any portion or portions thereof~ in the same form <br /> and manner, and with the same effect, as provided in Section 6(d), below, for the conversion <br /> and exchange of Certificates of Obligation by any registered owner of a CertiScate of <br /> Obligation. The Issuer shall pay the Paying Agent/Registrar's standard or customary fees <br /> and charges for making such transfer and delivery of a substitute Certificate of Obligation <br /> or Certificates of Obligation, but the one requesting such transfer shall pay any taxes or <br /> other governmental charges required to be paid with respect thereto. The Paying <br /> Agent/Registrar shall not be required to make transfers of registration of any Certificate of <br /> Obligation or any portion thereof (i) during the period commencing with the close of <br /> business on any Record Date and ending with the opening of business on the next following <br /> principal or interest payment date, or, (ri) with respect to any Certificate of Obligation or <br /> any portion thereof called for redemption prior to maturity, within 45 days prior to its <br /> redemption date. <br /> <br /> (b) OwnershiR of Certificates of Obli a~ t, ion. The entity in whose name any <br /> CertiScate of Obligation shall be registered in the Registration Books at any time shall be <br /> deemed and treated as the absolute owner thereof for all purposes of this Ordinance, <br /> whether or not such Certificate of Obligation shall be overdue, and the Issuer and the Paying <br /> Agent/Registrar shall not be affected by any notice to the contrary; and payment ot or on <br /> account ot the principal ot premium, if any, and interest on any such Certificate of <br /> Obligation shall be made only to such registered owner. All such payments shall be valid <br /> and effectual to satisfy and discharge the liability upon such Certificate of Obligation to the <br /> extent of the sum or sums so paid. <br /> <br /> 11 <br />