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<br /> <br /> <br /> <br /> <br /> <br /> provided for such payment. The Paying Agent/Registrar shall record in the Registration <br /> Books all such prepayments or redemptions of principal of this Certificate of Obligation or <br /> any portion hereof. <br /> <br /> THIS CERTIFICATE OF OBLIGATION, to the extent of the unpaid or <br /> unredeemed principal balance hereof, or any unpaid and unredeemed portion hereof in any <br /> integral multiple of $5,000, may be assigned by the initial registered owner hereof and shall <br /> be transferred only in the Registration Books of the Issuer kept by the Paying <br /> Agent/Registrar acting in the capacity of registrar for the Certificates of Obligation, upon <br /> the terms and conditions set forth in the Certificate of Obligation Ordinance. Among other <br /> requirements for such transfer, this Certificate of Obligation must be presented and <br /> surrendered to the Paying Agent/Registrar for cancellation, together with proper instruments <br /> of assignment, in form and with guarantee of signatures satisfactory to the Paying Agent/ <br /> Registrar, evidencing assignment by the initial registered owner of this Certificate of <br /> Obligation, or any portion or portions hereof in any integral multiple of $5,000, to the <br /> assignee or assignees in whose name or names this CertiScate of Obligation or any such <br /> portion or portions hereof is or are to be transferred and registered. Any instrument or <br /> instruments of assignment satisfactory to the Paying AgentJRegistrar may be used to <br /> evidence the assignment of this Certif cate of Obligation or any such portion or portions <br /> hereof by the initial registered owner hereof. A new certificate of obligation or certificates <br /> of obligation payable to such assignee or assignees (which then will be the new registered <br /> owner or owners of such new Certificate of Obligation or Certificates of Obligation) or to <br /> the initial registered owner as to any portion of this CertiScate of Obligation which is not <br /> being assigned and transferred by the initial registered owner, shall be delivered by the <br /> Paying Agent/Registrar in conversion of and exchange for this Certificate of Obligation or <br /> any portion or portions hereot but solely in the form and manner as provided in the next <br /> paragraph hereof for the conversion and exchange of this Certificate of Obligation or any <br /> portion hereof. 1fie registered owner of this Certificate of Obligation shall be deemed and <br /> treated by the Issuer and the Paying Agent/Registrar as the absolute owner hereof for all <br /> purposes, including payment and discharge of liability upon this Certificate of Obligation to <br /> the extent of such payment, and the Issuer and the Paying AgentlRegistrar shall not be <br /> affected by any notice to the contrary. <br /> <br /> AS PROVIDED above and in the Certificate of Obligation Ordinance, this Certificate <br /> of Obligation, to the extent of the unpaid or unredeemed principal balance hereot may be <br /> converted into and exchanged for a like aggregate principal amount of fully registered <br /> certificates of obligation, without interest coupons, payable to the assignee or assignees duly <br /> designated in writing by the initial registered owner hereof, or to the initial registered owner <br /> as to any portion of this Certificate of Obligation which is not being assigned and transferred <br /> by the initial registered owner, in any denomination or denominations in any integral <br /> multiple of $5,000 (subject to the requirement hereinafter stated that each substitute <br /> certificate of obligation issued in exchange for any portion of this Certificate of Obligation <br /> shall have a single stated principal maturity date), upon surrender of this Certificate of <br /> Obligation to the Paying Agent/Registrar for cancellation, all in accordance with the form <br /> <br /> 7 <br />