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mail such notice shall not affect the validity of the proceedings for redemption. Provided funds <br />for their redemption are on deposit at the place of payment on the redemption date, all Bonds or <br />portions thereof so called for redemption shall cease to bear interest on such date, shall no longer <br />be secured by the Ordinance and shall not be deemed to be outstanding. If a portion of this Bond <br />shall be called for redemption, a new Bond in principal amount equal to the unredeemed portion <br />hereof will be issued to the registered owner upon the surrender of this Bond. <br />The Bonds are issuable as fully registered bonds in denominations of $5,000 and integral <br />multiples thereof. Any Bond may be exchanged for a like aggregate principal amount of Bonds <br />of the same maturity of other authorized denominations at the principal office of the Registrar. <br />This Bond may be transferred only by an assignment duly executed by the registered <br />owner hereof or such owner's attorney or legal representative in a form satisfactory to the <br />Registrar. Such transfer shall be made in the registration books kept by the Registrar upon <br />presentation and surrender hereof and the City shall execute, and the Registrar shall. authenticate <br />and deliver in exchange, a new Bond or Bonds having an equal aggregate principal amount, in <br />authorized denominations, of the same form and maturity, bearing interest at the same rate, and <br />registered in names as requested by the then registered owner hereof or such owner's attorney or <br />legal representative. Any such exchange shall be at the expense of the City, except that the <br />Registrar may charge the person requesting such exchange the amount of any tax or other <br />governmental charge required to be paid with respect thereto. <br />The City may designate a successor Registrar and/or paying agent, provided that written <br />notice specifying the name and location of the principal office of any such successor shall be <br />given to the registered owner of the Bonds. Upon registration of transfer of this Bond, the <br />-4- <br />