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<br />its successor, as Registrar, Transfer Agent and Paying Agent (the <br />"Agent"), upon surrender of this bond at said office of the Agent, and <br />the interest hereon is payable by check or draft mailed to the holder <br />hereof at the holder's address as it appears on the registry records of <br />the Agent, or at such address as may have been filed with the Agent for <br />that purpose, as of the close of business of the 15th day immediately <br />preceding each interest payment date. <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 are not sufficient <br />moneys 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 is one of several annual series of bonds of like date, <br />tenor and effect, but differing in maturities, and may differ in <br />interest rates and amounts, issued by the City under the Act and the <br />Resolution Providing for Issuance of Bonds (the "Resolution of <br />Issuance"), for the purpose of providing means for paying for the <br />acquisition, work and improvements described in said proceedings, and <br />is secured by the moneys in said redemption fund and by the unpaid <br />portion of said assessments made for the payment of said acquisition, <br />work and improvements, and, including principal and interest, is <br />payable exclusively out of said fund. <br /> <br />This bond or any portion of it in the amount of five thousand <br />dollars ($5,000), or any integral multiple thereof, may be redeemed and <br />paid in advance of maturity upon the second day of March or September <br />in any year by giving at least 60 days' notice by registered mail to <br />the registered holder hereof at the holder's address as it appears on <br />the registration records of the Agent, or at such address as may have <br />been filed with the Agent for that purpose, and by paying the principal <br />amount to be redeemed and accrued interest together with a premium <br />equal to three (3) percentum of such principal, unless sooner <br />surrendered, in which event interest will be paid to the date of <br />payment. <br /> <br />This bond is transferable, as provided in the Resolution of <br />Issuance, only upon the registry records of the Agent, upon surrender <br />of this bond duly endorsed or accompanied by a written instrument of <br />transfer satisfactory to the Agent, executed by the registered holder <br />thereof or by attorney duly authorized in writing, including the <br />payment of applicable transfer charges, if any, and thereupon one or <br />more new fully registered bonds of like maturity and of authorized <br />denominations, aggregating the principal amount of this bond, will be <br />issued to the transferee in exchange therefor. No such transfer and <br />exchange of this bond shall be made after the City has notified the <br />Agent of the selection of this bond for redemption, nor shall any <br />transfer and exchange of this bond be required to be made between the <br />15th day next preceding an interest payment date and such interest <br />payment date. No gain or loss of interest shall result from any such <br />transfer and exchange. <br /> <br />C-2 <br />