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as of the fifteenth (15th) day of the calendar month next <br />preceding each interest payment date if such interest payment <br />date is the first (Ist) day of a calendar month; or (ii) as of <br />the last day of the calendar month next preceding each interest <br />payment date if such interest payment date is the fifteenth <br />(15th) day of a calendar month. <br /> <br /> (b) At all times during which any Bond remains <br />outstanding and unpaid, the Registrar shall keep, or cause to <br />be kept, at its office books of registry for the registration, <br />exchange and transfer of the Bonds. Upon presentation at its <br />office for such purpose, the Registrar, under such reasonable <br />regulations as it may prescribe, shall register, exchange or <br />transfer, or cause to be registered, exchanged or transferred, <br />on the books of registry the Bonds as herein set forth. <br /> <br /> (c) The books of registry shall at all times be open <br />for inspection by the City or any duly authorized officer <br />thereof. <br /> <br /> (d) Any Bond may be exchanged at the office of the <br />Registrar for a like aggregate principal amount of such Bonds <br />in other authorized principal amounts of the same interest rate <br />and maturity. <br /> <br /> (e) Any Bond may, in accordance with its terms, be <br />transferred upon the books of registry by the person in whose <br />name it is registered, in person or by his duly authorized <br />agent, upon surrender of such Bond to the Registrar for <br />cancellation, accompanied by a written instrument of transfer <br />duly executed by the registered owner in person or his duly <br />authorized agent, in form satisfactory uo the Registrar. <br /> <br /> (f) Ail transfers or exchanges of Bonds shall be <br />made without expense to the registered owners of such Bonds, <br />except as otherwise herein provided, and except that the <br />Registrar shall require the payment by the registered owner of <br />a Bond requesting such transfer or exchange of any tax or other <br />governmental charges required to be paid with respect to such <br />transfer or exchange. All Bonds surrendered for transfer or <br />exchange shall be canceled. <br /> <br /> SECTION 6. CUSP Numbers. CUSIP identification <br />numbers may be printed on the Bonds, but neither the failure to <br />print any such number on any Bond nor any error or omission <br />with respect thereto shall constitute cause for failure or <br />refusal by the Underwriters of the Bonds to accept delivery of <br />and pay for the Bonds in accordance with the terms of the <br /> <br /> <br />