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Section 2.05. Execution of Bonds. The Bonds shall be executed by the manual or facsimile signature of the Chairman, Executive Director or Finance Director of the Authority, and shall be�attested to by the manual or facsimile signature of the Secretary or Assistant Secretary. The Bonds shall be authenticated by the rnanual signature of an authorized officer of the Trustee. Section 2.06. Transfer and Exchang�e of Bonds. Subject to the provisions of Section 2.11 hereof, (a) each Bond shall be transferable only upon a register of the names of each Owner (the "Bond Register"), which shall be kept for that purpose at the Principal Office, by the Owner thereof in person or by his or her attorney duly authorized in writing, upon surrender thereof together with a written instrument of transfer satisfactory to the Trustee duly executed by the Owner or his or her duly authorized attorney. Upon the transfer of any such Bond, the Trustee shall provide in the name of the transferee, a new Bond or Bonds, of the same aggregate principal amount, interest rate and maturity as the surrendered Bonds (unless there has occurred a partial redemption of such Bond pursuant to Section 4.01 hereof, in which case the principal amount of the new Bond shall be equal to the unredeemed principal amount of the Bonci submitted for transfer). (b) The Trustee shall deem and treat the person in whose name any Outstanding Bond shall be registered upon the Bond Register as the absolute owner of such Bond, whether such Bond shall be overdue or not, for the purpose� of receiving payment of, or on account of, the principal of and interest on such Bond and for all other purposes, and all such payments so made to any such Owner or upon his or her order shall be valid and effectual to satisfy and discharge the liability upon such Borid to the extent of the sum or sums so paid, and neither the Authority nor the Trustee shall be affected by any notice to the contrary. The Authority agrees to indemnify and save the Tnistee harmless from and against any and all loss, cost, charge, expense,judgment or liability incurred by it, acting in good faith and without negligence or misconduct under the Indenture, in so treating such Owner. In all cases in which the privilege of exchanging or transferring Bonds is exercised, the Trustee shall execute and deliver Bonds in accordance with the provisions of this Article. All Bonds surrendered in any such exchanges or transfers shall forthwith be canceled by the Trustee. For every such exchange or transfer of Bonds, whether temporary or definitive,the Authority and the Trustee may make a charge sufficient to.reimburse any of them for any tax, fee or other governmental chaxge, other than one imposed by the Authority, required to be paid with respect. to such exchange or transfer, which sum or sums shall be paid by the person requesting such exchange or transfer as a condition precedent to the exercise of the privilege of making such exehange or transfer. Notwithstanding any other provision hereof, the cost of preparing each new Bond and any other expenses of the Authority or the Trustee incurred in connection therewith(except any applicable tax, fee or other governmental chazge other than one imposed by the Authority) shall be paid by the Authority. The Trustee shall not be obliged to effect any exchange or transfer of any Bond during the period after the mailing of notice calling such Bond or a portion thereof for redemption, nor during the fifteen(15) days preceding the giving of such notice of redemption. -13- 338471 1.DOC