Agmt15 City of RWC Public Financing Authority Water Revenue Refunding Bonds

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_ _____ _.�.. � . Date and interest rate and in the same aggregate principal amount hereof will be executed and delivered by the Authority and authenticated by the Trustee to the Owner thereof in exchange therefor. The Trustee shall require the payment by the Owner requesting such transfer or exchange of any tax or other governmental charge required to be paid with respect to such transfer or exchange. The Trustee may treat the Owner hereof as the absolute owner hereof for all purposes, whether or not this Bond shall be overdue, and the Trustee shall not be affected by any knowledge or notice to the contrary; and payment of the interest and principal and redemption premium, if any, evidenced by this Bond shall be made only to such Owner, which payments shall be valid and effectual to satisfy and discharge liability evidenced by this Bond to the extent of the sum o�sums so paid. The Trustee shall not be obligated to make any such registration of transfer or exchange of Bonds during the fifteen (15) day period prior to the date on which notice of redernption must be mailed pursuant to the Indenture, or with respect to any Bond which has been selected for , redemption pursuant to the Indenture (except any unredeemed portion thereofl. The Bonds are subject to redemption, in whole or in part on any date, from the Net Proceeds of insurance or condemnation with respect to the Enterprise, which Net Proceeds are deposited in the Payment Fund and credited towards the prepayment of the Installment Payments made by the City pursuant to the Installment Purchase Contract, at a redemption price equal to the principal amount of the Bonds to be redeemed, together with accrued interest to the date fixed for redemption, without premium. The Bonds maturing on or before February 1, 2025, are not subject to optional redemption prior to their stated maturities. The Bonds maturing on or after February 1, 2026, are subject to optional redemption on any date on or after February 1, 2025, in whole o� in part, from prepayments of the Installment Payments made at the option of the City pursuant to the Installment Purchase Contract, at a redemption price equal to the principal amount thereof to be redeemed together with accrued interest to the redemption date, without premium. As provided in the Indenture, notice of redemption hereof shall be mailed, first class postage �edeemed, not less than thirty (30) nor more than forty-five {45) days prior to the redemption date, to the Owner of this Bond at such Owner's address as it appears in the registration books maintained by the Trustee, but failure to give any such notice or any defect therein shall not affect the validity of the proceedings for the redemption of this Bond. The Authority shall have the right to rescind any optional redemption as provided in the Indenture. If this Bond is called for redemption and payment is duly provided therefor as specified in the Indenture, the interest evidenced hereby shall cease to accrue from and after the date fixed for redemption. The Trustee has no obligation or liability to the Owners of the Bonds for the payment of the interest or principal or redemption premiums, if any, on the Bonds; but rather the Trustee's sole obligations are to administer, for the benefit of the Authority and the Owners of the Bonds, the various funds established under the indenture. This Bond shall not be entitled to any benefit, protection or security under the Indenture or become valid or obligatory for any purpose until certificate of authentication and registration hereon endorsed shall have been manually executed and dated by the Trustee. It is hereby certified that all acts and proceedings required by law necessary to make this Bond, when executed by the Authority, authenticated and delivered by the T�ustee and duly A-3