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Agent/Registrar may be used to evidence the assigrmaent of this Bond or any such portion or portions hereof
<br />by the initial registered oxvner hereof. A nexv bond or bonds payable to such assignee or assignees (xvhich
<br />then xvill be the nexv registered oxvner or oxvners of such nexv Bond or Bonds) or to the initial registered
<br />oxvner as to any portion of this Bond xvhich is not being assigned and transferred by the initial registered
<br />oxvner, shall be delivered by the Paying Agent/Registrar in conversion of and exchange for this Bond or any
<br />portion or portions hereof, but solely in the form and manner as provided in the next paragraph hereof for the
<br />conversion and exchange of this Bond or any portion hereof. The registered oxvner of this Bond shall be
<br />deemed and treated by the Issuer and the Paying Agent/Registrar as the absolute oxvner hereof for all
<br />purposes, including payment and discharge of liability upon this Bond to the extent of such payment, and the
<br />Issuer and the Paying Agent/Registrar shall not be affected by any notice to the contrary.
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<br /> AS PROVIDED above and in the Bond Ordinance, this Bond, to the extent of the unpaid or
<br />unredeemed principal balance hereof, may be converted into and exchanged for a like aggregate principal
<br />amount of fully registered bonds, xvithout interest coupons, payable to the assignee or assignees duly
<br />designated in xvrifing by the initial registered oxvner hereof, or to the initial registered oxvner as to any portion
<br />of this Bond xvhich is not being assigned and transferred by the initial registered oxvner, in any denomination
<br />or denominations in any integral multiple of $5,000 (subject to the requirement hereinafter stated that each
<br />substitute bond issued in exchange for any portion of this Bond shall have a single stated principal maturity
<br />date), upon surrender of this Bond to the Paying Agent/Registrar for cancellation, all in accordance xvith the
<br />form and procedures set forth in the Bond Ordinance. If this Bond or any portion hereof is assigned and
<br />transferred or converted each bond issued in exchange for any portion hereof shall have a single stated
<br />principal maturity date corresponding to the due date of the installment of principal of this Bond or portion
<br />hereof for xvhich the substitute bond is being exchanged, and shall bear interest at the rate applicable to and
<br />bome by such installment of principal or portion thereof. Such bonds, respectively, shall be subject to
<br />redemption prior to maturity on the same dates and for the same prices as the corresponding installment of
<br />principal of this Bond or portion hereof for xvhich they are being exchanged. No such bond shall be payable
<br />in installments, but shall have only one stated principal maturity date. AS PROVIDED IN THE BOND
<br />ORDINANCE, THIS BOND IN ITS PRESENT FORM MAY BE ASSIGNED AND TRANSFERRED
<br />OR CONVERTED ONCE ONLY, and to one or more assignees, but the bonds issued and delivered in
<br />exchange for this Bond or any portion hereof may be assigned and transferred, and converted, subsequently,
<br />as provided in the Bond Ordinance. The Issuer shall pay the Paying Agent/Registrar's standard or customary
<br />fees and charges for transfemng, converting, and exchanging this Bond or any portion thereof, but the one
<br />requesting such transfer, conversion, and exchange shall pay any taxes or governmental charges required to
<br />be paid xvith respect thereto. The Paying Agent/Registrar shall not be required to make any such assigrmaent,
<br />conversion, or exchange (i) during the period commencing xvith the close of business on any Record Date and
<br />ending xvith the opening of business on the next folloxving principal or interest payment date, or, (ii) xvith
<br />respect to any Bond or portion thereof called for prepayment or redemption prior to maturity, xvithin 45 days
<br />prior to its prepayment or redemption date.
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<br /> IN THE EVENT any Paying Agent/Registrar for this Bond is changed by the Issuer, resigns, or
<br />otherxvise ceases to act as such, the Issuer has covenanted in the Bond Ordinance that it promptly xvill appoint
<br />a competent and legally qualified substitute therefor, and promptly xvill cause xvritten notice thereof to be
<br />mailed to the registered oxvner of this Bond.
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<br /> IT IS HEREBY certified, recited, and covenanted that this Bond has been duly and validly authorized,
<br />issued, sold, and delivered; that all acts, conditions, and things required or proper to be performed, exist, and
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