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<br /> <br /> <br /> <br /> <br /> <br /> indicated, in the FORM OF SUBSTTTUTE CERTIFICATE OF OBLIGATION set forth <br /> in this Ordinance. <br /> <br /> (t) Payment of Fees and Charges. The Issuer hereby covenants with the registered <br /> owners of the Certificates of Obligation that it will (i) pay the standard or customary fees <br /> and charges of the Paying Agent/Registrar for its services with respect to the payment of the <br /> principal of and interest on the Certificates of Obligation, when due, and (u) pay the fees <br /> and charges of the Paying Agent/Registrar for services with respect to the transfer of <br /> registration of Certificates of Obligation, and with respect to the conversion and exchange <br /> of Certificates of Obligation solely to the extent above provided in this Ordinance. <br /> <br /> (g) Substitute Paying A eng t/Re sg'~ trar. The Issuer covenants with the registered <br /> owners of the Certificates of Obligation that at all times while the Certificates of Obligation <br /> are outstanding the Issuer will provide a competent and legally qualified commercial bank <br /> or trust company organized under the laws of the State of Texas or the United States of <br /> America or other entity duly qualified and legally authorized to act as and perform the <br /> services of Paying Agent/Registrar for the Certificates of Obligation under this Ordinance, <br /> and that the Paying Agent/Registrar will be one entity. The Issuer reserves the right to, and <br /> may, at its option, change the Paying Agent/Registrar upon not less than 120 days written <br /> notice to the Paying Agent/Registrar, to be effective not later than 60 days prior to the next <br /> principal or interest payment date after such notice. In the event that the entity at any time <br /> acting as Paying Agent/Registrar (or its successor by merger, acquisition, or other method) <br /> should resign or otherwise cease to act as such, the Issuer covenants that promptly it will <br /> appoint a competent and legally qualified commercial bank or trust company organized <br /> under the laws of the State of Texas or the United States of America or other entity duly <br /> qualiSed and legally authorized to act as Paying Agent/Registrar under this Ordinance. <br /> Upon any change in the Paying Agent/Registrar, the previous Paying Agent/Registrar <br /> promptly shall transfer and deliver the Registration Books (or a copy thereof), along with <br /> all other pertinent books and records relating to the CertiScates of Obligation, to the new <br /> Paying Agent/Registrar designated and appointed by the Issuer. Upon any change in the <br /> Paying Agent/Registrar, the Issuer promptly will cause a written notice thereof to be sent <br /> by the new Paying Agent/Registrar to each registered owner of the Certificates of Obligadon, <br /> by United States mail, first-class postage prepaid, which notice also shall give the address <br /> of the new Paying Agent/ Registrar. By accepting the position and performing as such, each <br /> Paying AgentJRegistrar shall be deemed to have agreed to the provisions of this Ordinance, <br /> and a certified copy of this Ordinance shall be delivered to each Paying Agent/Registrar. <br /> <br /> (h) Book-Entry Only System. The CertiScates of Obligation issued in exchange for <br /> the Certificates of Obligation initially issued to the purchaser specified herein shall be <br /> initially issued in the form of a separate single fully registered Certificate of Obligation for <br /> each of the maturities thereof. Upon inidal issuance, the ownership of each such Certificate <br /> of Obligation shall be registered in the name of Cede & Co., as nominee of Depository <br /> Trust Company of New York ('DTC'~ and except as provided in subsection (f) hereof, all <br /> <br /> <br /> 15 <br />