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<br /> <br /> <br /> <br /> <br /> <br /> this Certificate of Obligation to the Paying Agent/Registrar for cancellation, all in accordance <br /> with the form and procedures set forth in the Certificate of Obligation Ordinance. The <br /> Issuer shall pay the Paying Agent/Registrar's standard or customary fees and charges for <br /> transferring, converting, and exchanging any Certificate of Obligation or any portion thereof, <br /> but the one requesting such transfer, conversion, and exchange shall pay any taxes or govern- <br /> mental charges required to be paid with respect thereto as a condition precedent to the <br /> exercise of such privilege of conversion and exchange. The Paying Agent/Registrar shall not <br /> be required to make any such conversion and exchange (i) during the period commencing <br /> with the close of business on any Record Date and ending with the opening of business on <br /> the next following principal or interest payment date, or, (ii) with respect to any Certificate <br /> of Obligation or portion thereof called for redemption prior to maturity, within 45 days prior <br /> to its redemption date. <br /> <br /> IN THE EVENT any Paying Agent/Registrar for the CertiScates of Obligation is <br /> changed by the Issuer, resigns, or otherwise ceases to act as such, the Issuer has covenanted <br /> in the CertiScate of Obligation Ordinance that it promptly will appoint a competent and <br /> legally qualified substitute therefor, and promptly will cause written notice thereof to be <br /> mailed to the registered owners of the Certificates of Obligation. <br /> <br /> TT IS HEREBY certified, recited, and covenanted that this Certificate of Obligation <br /> has been duly and validly authorized, issued, and delivered; that all acts, conditions, and <br /> things required or proper to be performed, exist, and be done precedent to or in the <br /> authorization, issuance, and delivery of this Certificate of Obligation have been performed, <br /> existed, and been done in accordance with law; that this CertiScate of Obligation is a general <br /> obligation of the Issuer, issued on the full faith and credit thereof; and that ad valorem taxes <br /> sufficient to provide for the payment of the interest on and principal of this Certificate of <br /> Obligation, as such interest comes due, and as such principal matures, have been levied and <br /> ordered to be levied against all taxable property in the Issuer, and have been pledged for <br /> such payment, within the limit prescnbed by law, and that this CertiScate of Obligation is <br /> additionally secured from limited surplus revenues of the Issuer's Waterworks and Sewer <br /> System, after payment of all operation and maintenance expenses thereoL and all debt <br /> service and reserve requirements and any other payments, and deposits required in <br /> connection with all of the Issuer's revenue bonds or other obligations (now or hereafter <br /> outstanding), which are payable from all or any part of the Net Revenues of the Issuer's <br /> Waterworks and Sewer System. <br /> <br /> BY BECOMING the registered owner of this Certificate of Obligation, the registered <br /> owner thereby acknowledges all of the terms and provisions of the Certificate of Obligation <br /> Ordinance, agrees to be bound by such terms and provisions, acknowledges that the <br /> Certificate of Obligation Ordinance is duly recorded and available for inspection in the offi- <br /> cial minutes and records of the governing body of the Issuer, and agrees that the terms and <br /> provisions of this Certificate of Obligation and the CertiScate of Obligation Ordinance <br /> constitute a contract between each registered owner hereof and the Issuer. <br /> <br /> <br /> 22 <br />