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<br /> ! <br /> f <br /> F <br /> ( <br /> y <br /> ~ <br /> l; <br /> R <br /> i; <br /> as being outstanding except for the right of the registered <br /> owner to receive the redemption price plus accrued interest <br /> from the Paying Agent/Registrar out of the funds provided for <br /> ; such payment. <br /> s <br /> ; THIS CERTIFICATE OF OBLIGATION, to the extent of the <br /> unpaid or unredeemed principal balance hereof, or any unpaid ! <br /> and unredeemed portion hereof in any integral multiple of <br /> ~;$5,000, may be assigned by the initial registered owner hereof <br /> 3 and shall be transferred only in the Registration Books of the + <br /> ~ Issuer kept by the Paying Agent/Registrar acting in the ~ <br /> ~ capacity of registrar for this Certificate of Obligation, upon <br /> the terms and conditions set forth in the Certificate of ~ <br /> ~ Obligation Ordinance. Among other requirements for such <br /> ~ transfer, this Certificate of Obligation must be presented and <br /> s <br /> surrendered to the Paying Agent/Registrar for cancellation, <br /> e together with proper instruments of assignment, in form and <br /> ~ with guarantee of signatures satisfactory to the Paying <br /> Agent/Registrar, evidencing assignment by the initial regis- <br /> 1° tered owner of this Certificate of Obligation, or any portion <br /> a or portions hereof in any integral multiple of $5,000, to the <br /> ~ assignee or assignees in whose name or names this Certificate <br /> ` of Obligation or any such portion or portions hereof is or are <br /> to be transferred and registered. Any instrument or instru- <br /> ments of assignment satisfactory to the Paying Agent/Registrar <br /> ~ may be used to evidence the assignment of this Certificate of <br /> t Obligation or any such portion or portions hereof by the ~ <br /> ; initial registered owner hereof. A new certificate of obliga- ~ <br /> ' tion or certificates of obligation payable to such assignee or ~ <br /> ; assignees (which then will be the new registered owner or <br /> ~ owners of such new certificate of obligation or certificates of ~ <br /> ~ obligation) or to the initial registered owner as to any <br /> portion of this Certificate of Obligation which is not being <br /> assigned and transferred by the initial registered owner, shall { <br /> ~ be delivered by the Paying Agent/Registrar in conversion of and <br /> exchange for this Certificate of Obligation or any portion or <br /> portions hereof, but solely in the form and manner as provided <br /> ; in the next paragraph hereof for the conversion and exchange of <br /> this Certificate of Obligation or any portion hereof. The <br /> ' registered owner of this Certificate of Obligation shall be <br /> ; deemed and treated by the Issuer and the Paying Agent/Registrar ~ <br /> ; as the absolute owner hereof for all purposes, including ~ <br /> ~ payment and discharge of liability upon this Certificate of <br /> ? Obligation to the extent of such payment, and the Issuer and <br /> ' the Paying Agent/Registrar shall not be affected by any notice <br /> to the contrary. <br /> AS PROVIDED above and in the Certificate of Obligation <br /> ;,Ordinance, this Certificate of Obligation, to the extent of the <br /> ~ unpaid or unredeemed principal balance hereof, may be converted <br /> into and exchanged for a like aggregate principal amount of <br /> `fully registered certificates of obligation, without interest <br /> coupons, payable to the assignee or assignees duly designated <br /> ? in writing by the initial registered owner hereof, or to the <br /> initial registered owner as to any portion of this Certificate <br /> of Obligation which is not being assigned and transferred by <br /> the initial registered owner, in any denomination or <br /> ~ <br /> ~ denominations in any integral multiple of $5,000 (subject to <br /> 4 the requirement hereinafter stated that each substitute <br /> E certificate of obligation issued in exchange for any portion of <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 /> t,Obligation or any portion hereof is assigned and transferred or <br /> I=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 /> ~ <br /> ~ 5 <br /> 4 <br /> ; <br />