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<br /> this Certificate of Obligation shall have a single stated
<br /> ~principal maturity date), upon surrender of this Certificate of
<br /> Obligation to the Paying Agent/Registrar for cancellation, all
<br /> in accordance with the form and procedures set forth in the
<br /> Certificate of Obligation Ordinance. If this Certificate of
<br /> Obligation or any portion hereof is assigned and transferred or
<br /> converted each certificate of obligation issued in exchange for
<br /> any portion hereof shall have a single stated principal
<br /> maturity date corresponding to the due date of the installment
<br /> of principal of this Certificate of Obligation or portion
<br /> hereof for which the substitute certificate of obligation is
<br /> being exchanged, and shall bear interest at the rate applicable
<br /> to and borne by such installment of principal or portion
<br /> thereof. Such certificates of obligation, respectively, shall
<br /> be subject to redemption prior to maturity on the same dates
<br /> and for the same prices as the corresponding installment of
<br /> principal of this Certificate of Obligation or portion hereof
<br /> for which they are being exchanged. No such certificate of
<br /> obligation shall be payable in installments, but shall have
<br /> lonly one stated principal maturity date. AS PROVIDED IN THE
<br /> CERTIFICATE OF OBLIGATION ORDINANCE, THIS CERTIFICATE OF
<br /> OBLIGATION IN ITS PRESENT FORM MAY BE ASSIGNED AND TRANSFERRED
<br /> IOR CONVERTED ONCE ONLY, and to one or more assignees, but the
<br /> icertificates of obligation issued and delivered in exchange for
<br /> this Certificate of Obligation or any portion hereof may be
<br /> ;assigned, transferred and converted, subsequently, as provided
<br /> Jin the Certificate of Obligation Ordinance. The Issuer shall
<br /> pay the Paying Agent/Registrar's standard or customary fees and
<br /> charges for transferring, converting, and exchanging this
<br /> Certificate of Obligation or any portion thereof, but the one
<br /> jrequesting such transfer, conversion, and exchange shall pay
<br /> any taxes or governmental charges required to be paid with
<br /> respect thereto. The Paying Agent/Registrar shall not be
<br /> required to make any such assignment, conversion, or exchange
<br /> (i) during the period commencing with the close of business on
<br /> any Record Date and ending with the opening of business on the
<br /> next following principal or interest payment date, or, (ii)
<br /> Jwith respect to any Certificate of Obligation or portion
<br /> thereof called for prepayment or redemption prior to maturity,
<br /> within 20 days prior to its prepayment or redemption date.
<br /> IN THE EVENT any Paying Agent/Registrar for this Certif-
<br /> icate of Obligation is changed by the Issuer, resigns, or
<br /> otherwise ceases to act as such, the Issuer has covenanted in
<br /> the Certificate of Obligation Ordinance that it promptly will
<br /> appoint a competent and legally qualified substitute therefor,
<br /> and promptly will cause written notice thereof to be mailed to
<br /> the registered owner of this Certificate of Obligation.
<br /> IT IS HEREBY certified, recited, and covenanted that this
<br /> Certificate of Obligation has been duly and validly authorized,
<br /> issued, sold, and delivered; that all acts, conditions, and
<br /> things required or proper to be performed, exist, and be done
<br /> precedent to or in the authorization, issuance, and delivery of
<br /> this Certificate of Obligation have been performed, existed,
<br /> and been done in accordance with law; that this Certificate of
<br /> Obligation is a general obligation of the Issuer, issued on the
<br /> full faith and credit thereof; and that ad valorem taxes
<br /> sufficient to provide for the payment of the interest on and
<br /> principal of this Certificate of Obligation, as such interest
<br /> and principal come due, have been levied and ordered to be
<br /> levied against all taxable property in the Issuer, and have
<br /> been pledged for such payment, within the limit prescribed by
<br /> law, and that this Certificate of Obligation, together with
<br /> other obligations of the Issuer, is additionally secured by and
<br /> payable from a pledge of the revenues of the Issuer's combined
<br /> Waterworks and Sewer System, remaining after payment of all
<br /> operation and maintenance expenses thereof, and all debt
<br /> service, reserve and other requirements in connection with all
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