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<br /> <br /> <br /> <br /> <br /> <br /> transferred only in the Registration Books of the Issuer <br /> kept by the Paying Agent/Registrar acting in the capacity of <br /> registrar for the Bonds, upon the terms and conditions set <br /> forth in the Bond Ordinance. Among other requirements for <br /> such transfer, this Bond must be presented and surrendered <br /> to the Paying Agent/Registrar for cancellation, together <br /> with proper instruments of assignment, in form and with <br /> guarantee of signatures satisfactory to the Paying Agent/ <br /> Registrar, evidencing assignment by the initial registered <br /> owner of this Bond, or any portion or portions hereof in any <br /> integral multiple of $5,000, to the assignee or assignees in <br /> whose name or names this Bond or any such portion or por- <br /> tions hereof is or are to be transferred and registered. <br /> Any instrument or instruments of assignment satisfactory to <br /> the Paying Agent/Registrar may be used to evidence the <br /> assignment of this Bond or any such portion or portions <br /> hereof by the initial registered owner hereof. A new bond <br /> or bonds payable to such assignee or assignees (which then <br /> will be the new registered owner or owners of such new Bond <br /> or Bonds) or to the initial registered owner as to any <br /> portion of this Bond which is not being assigned and trans- <br /> ferred by the initial registered owner, shall be delivered <br /> by the Paying Agent/Registrar in conversion of and exchange <br /> for this Bond or any portion or portions hereof, but solely <br /> in the form and manner as provided in the next paragraph <br /> hereof for the conversion and exchange of this Bond or any <br /> portion hereof. The registered owner of this Bond shall be <br /> deemed and treated by the Issuer and the Paying Agent/Regis- <br /> trar as the absolute owner hereof for all purposes, includ- <br /> ing payment and discharge of liability upon this Bond to the <br /> extent of such payment, and the Issuer and the Paying <br /> Agent/Registrar shall not be affected by any notice to the <br /> contrary. <br /> AS PROVIDED above and in the Bond Ordinance, this Bond, <br /> to the extent of the unpaid or unredeemed principal balance <br /> hereof, may be converted into and exchanged for a like <br /> aggregate principal amount of fully registered bonds, <br /> without interest coupons, payable to the assignee or as- <br /> signees duly designated in writing by the initial registered <br /> owner hereof, or to the initial registered owner as to any <br /> portion of this Bond which is not being assigned and trans- <br /> ferred by the initial registered owner, in any denomination <br /> or denominations in any inteqral multiple of $5,000 (subject <br /> to the reruirement hereinafter stated that each substitute <br /> band issued in exchange for any portion of this Bond shall <br /> have a single stated principal maturity date), upon surren- <br /> der of this Bond to the Paying Agent/Registrar for cancella- <br /> tion, all in accordance with the form and procedures set <br /> forth in the Bond Ordinance. If this Bond or any portion <br /> hereof is assigned and transferred or converted each bond <br /> issued in exchange for any portion hereof shall have a <br /> single stated principal maturity date corresponding to the <br /> 6 <br />