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<br />authorized officer of the Registrar. Only the authenticated Note shall be entitled to any right or <br />benefit under this Ordinance, and such certificate on the Note issued hereunder shall be <br />conclusive evidence that the Note has been duly issued and is secured by the provisions hereof. <br /> <br />The Paying Agent shall act as Registrar and shall maintain Registration Books for the <br />registration and the registration of transfer of the Note. The City Treasurer is hereby designated <br />and authorized to act as Paying Agent and Registrar hereunder. The transfer of the Note may be <br />registered only on the books kept for the registration and registration of transfer of the Note upon <br />surrender thereof to the Registrar together with an assignment duly executed by the registered <br />Noteholder in person or by his duly authorized attorney or legal representative in such form as <br />shall be satisfactory to the Registrar. Upon any such transfer, the City shall execute and the <br />Registrar shall authenticate and deliver, in exchange of the Note, a new registered Note <br />registered in the name of the transferee of the same series, maturity and interest rate as the Note <br />so exchanged in any denomination or denominations authorized by this Ordinance. <br /> <br />The Registrar shall not be required to make any such registration or registration of <br />transfer during the thirty (30) days immediately preceding the any Note Payment Date or a <br />redemption date. <br /> <br />Prior to due presentment for registration of transfer for the Note, the Registrar shall treat <br />the registered Noteholder as the person exclusively entitled to payment of principal of, premium, <br />if any, and interest on, the Note and the exercise of all other rights and powers of the Noteholder. <br /> <br />If the Note has been mutilated, lost or destroyed, the City shall execute and the Registrar <br />shall authenticate and deliver a new Note of like date and tenor in exchange or substitution for, <br />and upon cancellation of, such mutilated Note or in lieu of and in substitution for such lost or <br />destroyed Note; provided, however, that the City and the Registrar shall execute, authenticate <br />and deliver such Note only if the Noteholder has paid the reasonable expenses and charges of the <br />City and the Registrar in connection therewith and, in the case of a lost or destroyed Note, has <br />furnished to the City and the Registrar (a) evidence satisfactory to them that such Note was lost <br />or destroyed and the Noteholder was the Owner thereof and (b) indemnity satisfactory to them. <br />If the Note has matured, instead of issuing a new Note, the Registrar may pay the same without <br />surrender thereof upon receipt of the aforesaid evidence and indemnity. <br /> <br />If the Note has been paid (whether at maturity, by acceleration or otherwise) or delivered <br />to the Paying Agent for cancellation, the Note shall not be reissued and the Registrar shall, unless <br />otherwise directed by the City, cremate, shred or otherwise dispose of the Note. The Registrar <br />shall deliver to the City a certificate of any such cremation, shredding or other disposition of the <br />Note. <br /> <br />CUSIP identification numbers may be printed on the Note, but such numbers shall not be <br />deemed to be a part of the Note or a part of the contract evidenced thereby and no liability shall <br /> <br />6 <br />