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The City may designate a successor Bond Registrar and/or paying agent, provided that <br /> <br />written notice specifying the name and location of the principal office of any such successor <br /> <br />shall be given to the registered owner of the Bonds. Upon registration of transfer of this Bond, <br /> <br />the Bond Registrar shall furnish written notice to the transferee of the name and location of the <br /> <br />principal office of the Bond Registrar and/or the paying agent. <br /> <br /> The Bond Registrar shall treat the registered owner as the person exclusively entitled to <br /> <br />payment of principal and interest and the exercise of all other rights and powers of the owner, <br /> <br />except that interest payments shall be made to the person shown as the owner on the registration <br /> <br />books on the 15th day of the month preceding each interest payment date. <br /> <br /> This Bond shall not be valid or obligatory for any purpose unless and until authenticated <br /> <br />at the foot hereof by the Bond Registrar. <br /> <br /> It is hereby certified and recited that all acts, conditions and things required by the <br /> <br />Constitution and statutes of the Commonwealth of Virginia to happen, exist or be performed <br /> <br />precedent to the issuance of this Bond have happened, exist or been performed in due time, form <br /> <br />and manner as so required and that the indebtedness evidenced by this Bond is within every debt <br /> <br />and other limit prescribed by the Constitution and statutes of the Commonwealth of Virginia. <br /> <br /> <br />