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<br />Interest is payable by check or draft mailed to the address as it <br />appears in the registry books maintained by the Agent, or to such <br />address as may have been filed with the Agent for that purpose, as of <br />the close of business of the 15th day next preceding an interest payment <br />date. <br /> <br />This bond is one of several annual series of bonds of like date, <br />tenor and effect, but differing in maturities, and may differ in <br />in t ere s t rat e san d am 0 un t s, i s sue d by the C i t Y un de r sa i d I a wan d the <br />Resolution providing for issuance of bonds (the "Resolution") for the <br />purpose of providing means for paying for the acquisitions, work and <br />improvements described in said proceedings, and is secured by the <br />monies in said redemption fund and by the unpaid assessments made for <br />the payment of said acquisitions, work and improvements, and, including <br />principal and interest, is payable exclusively out of said fund. <br /> <br />This bond will continue to bear interest after maturity at the <br />rate above stated, provided it is presented at maturity and payment <br />thereof is refused upon the sole ground that there is not sufficient <br />money in said redemption fund with which to pay same; if it is not <br />presented at maturity, interest thereon will run until maturity. <br /> <br />This bond may be redeemed and paid in advance of maturity in <br />whole or in part, subject to the provisions of the Resolution, upon the <br />second day of January or July in any year by giving at least 60 days <br />notice by registered mail to the registered holder thereof at the <br />address of such holder as the same appear on the registry books <br />maintained by the Agent, or at such address as may have been filed with <br />the Agent for that purpose, and by paying the principal amount to be <br />redeemed and accrued interest together with a premium equal to 5 <br />percentum of such principal, unless sooner surrendered, in which event <br />interest will be paid to the date of payment. <br /> <br />This bond is transferable, as provided in the Resolution, only <br />upon the registry books maintained by the Agent, upon surrender of this <br />bond duly endorsed or accompanied by a written instrument of transfer <br />satisfactory to the Agent executed by the registered holder thereof or <br />by attorney duly authorized in writing, including the payment of <br />certain charges, if any, and thereupon one or more new fully registered <br />bonds of like Series and maturity and of authorized denominations, <br />aggregating the principal amount of this bond, will be issued to the <br />transferee in exchange therefor. No such transfer and exchange shall <br />be made after the City has notified the Agent of the selection of this <br />bond for redemption, nor shall any transfer and exchange be required to <br />be made between the 15th day next preceding an interest payment date and <br />such interest payment date. No gain or loss of interest shall result <br />from any such transfer and exchange. <br /> <br />This bond shall be registered only in the name of an individual <br />(including joint owners), a corporation, a partnership or a trust. <br /> <br />B-2 <br />