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(Form of Co.upon) On the first day of , , unless the tDnd hereinafter mentiohed~ shall have been ~]ly cal--i~ for previous redemption and payment of the redemption price duly made or provided for, the City of Portsmouth, Virginia, will pay to bearer upon the presentation and surrender hereof the ar~)unt shown hereon in such coin or currency of the United States of America as at the date of payment he~eof is legal tender for the payment of public a~d private debts, at the principal office of Virginia National Bank, in Norfolk, Virginia, or, at the option of the bearer, at the principal office of The Chase Manhattan Bank (National Association), in the City of New York, New York, being interest then due on its General Obligation Public /~nprove~ent Bond, dated as of b~%rch 1, 1980, and numbered I%]0. Director ot Fin<~nce (Fo~m of t>rovmsions for Registration) ~his Bond may be registered as to principal only in the name ot the holder on the books of reqistry to be ke~h by ~_he Director of Finance of the Citer of Po_rtsnou~_h, V~_rginia, as Registrar, such registration to be noted by the Registrar ~ txhe registration blank below. After such reg!s- tration, no transfer hereof shall be effective against the Registrar, the City of Portsmouth ~Jld the paying agents for this Pond unless made on said books by the registered own-er or attorney duly authorized and similarly noted h~r~on, but this Bond may be discharged from such registration by being transfez-red to bes~er, after which this Bond shall be transferable by delive~f, but this Bond may be again registered as before. ~ne regis- tration of this Bond as to principal shall not restrain the negotiability by delivery ~erely of the coupons pertaining hereto, but' the co _upons may be surrendered and the interest made payable only to the registered owner in which event the Registrar shall note in the registration blank belov; that tb~s Bond is registered as to interest as well as to principal. With the conse~nt of the holder smd the Registrar, this Bond v?nen cenverted into a bend registered as to both principal and interest may be reconverhed a coupon bend ~nd again converted into a bond registered as to both principal and interest as hereinabove provided, but always at the expense of the holder. Upon reconversion of this Bond, when registered as to principal and interest, into a colipon bond, coupons representing the interest to accrue on this Bond to date of maturity shall be attached hereto by the Registrar, and the Registrar shall note in the registration blank below %fnether ~his Bond is ~egistered as to principal only or payable to bearer.