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<br /> <br /> <br /> <br /> <br /> <br /> for said assigned Bond or Bonds or any portion or portions <br /> thereof, in the same form and manner, and with the same <br /> effect, as provided in Section 6(d), below, for the conver- <br /> sion and exchange of Bonds by any registered owner of a <br /> Bond. The Issuer shall pay the Paying Agent/Registrar's <br /> standard or customary fees and charges for making such <br /> transfer and delivery of a substitute Bond or Bonds, but the <br /> one requesting such transfer shall pay any taxes or other <br /> governmental charges required to be paid with respect <br /> thereto. The Paying Agent/Registrar shall not be required <br /> to make transfers of registration of any Bond or any portion <br /> thereof (i) during the period commencing with the close of <br /> business on any Record Date and ending with the opening of <br /> business on the next following principal or interest payment <br /> date, or, (ii) with respect to any Bond or any portion <br /> thereof called for redemption prior to maturity, within 45 <br /> days prior to its redemption date. <br /> (b) Ownership of Bonds. The entity in whose name any <br /> Bond shall be registered in the Registration Books at any <br /> time shall be deemed and treated as the absolute owner <br /> thereof for all purposes of this Ordinance, whether or not <br /> such Bond shall be overdue, and the Issuer and the Paying <br /> Agent/Registrar shall not be affected by any notice to the <br /> contrary; and payment of, or on account of, the principal <br /> of, premium, if any, and interest on any such Bond shall be <br /> made only to such registered owner. All such payments shall <br /> be valid and effectual to satisfy and discharge the liabil- <br /> ity upon such Bond to the extent of the sum or sums so paid. <br /> (c) Payment of Bonds and Interest. The Issuer hereby <br /> further appoints the Paying Agent/Registrar to act as the <br /> paying agent for paying the principal of and interest on the <br /> Bonds, and to act as its agent to convert and exchange or <br /> replace Bonds, all as provided in this Ordinance. The <br /> Paying Agent/Registrar shall keep proper records of all <br /> payments made by the Issuer and the Paying Agent/Registrar <br /> with respect to the Bonds, and of all conversions and <br /> exchanges of Bonds, and all replacements of Bonds, as <br /> provided in thia Ordinance. However, in the event of a <br /> nonpayment of interest on a scheduled payment date, and for <br /> thirty (30) days thereafter, a new record date for such <br /> interest payment (a "Special Record Date") will be estab- <br /> lished by the Paying Agent/Registrar, if and when funds for <br /> the payment of such interest have been received from the <br /> Issuer. Notice of the past due interest (which shall be 15 <br /> days after the Special Record Date) shall be sent at least <br /> five (5) business days prior to the Special Record Date by <br /> United States mail, first class postage prepaid, to the <br /> address of each Bondholder appearing on the Security Regis- <br /> ter at the close of business on the last business day next <br /> preceding the date of mailing of such notice. <br /> 11 <br />