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Provided funds for their redemption are on deposit at the place of payment on the date fixed for redemption, this Bond or the portion thereof so called for redemption shall cease to bear interest on such date, shall no longer be secured by the Resolution and shall not be deemed to be outstanding. If a portion of this Bond shall be called for redemption, a new Bond in principal amount equal to the unredeemed portion hereof will be issued to the registered owner upon the surrender of this Bond. The City may rescind any redemption of Bonds and notice thereof on any date prior to the scheduled redemption date by causing written notice of such rescission to be given to the owners of such Bonds so called for redemption. Notice of the rescission of any such redemption of the Bonds shall be given in the same manner in which notice of redemption of such Bonds was originally given. The actual receipt by any owner of any Bond of notice of such rescission shall not be a condition precedent to rescission, and failure to receive such notice or any defect in such notice shall not affect the validity of the rescission. Upon surrender for transfer or exchange of this Bond at the designated office of the Bond Registrar, the City shall execute and the Bond Registrar shall authenticate and deliver in the name of the registered owner and /or the transferee or transferees, as appropriate, a new Bond or Bonds in any authorized denomination in an aggregate principal amount equal to, and of the same form and maturity and bearing interest at the same rate, as this Bond, subject in each case to such reasonable regulations as the Council and the Bond Registrar may prescribe. All Bonds presented for transfer or exchange shall be accompanied by a written instrument or instruments of transfer or authorization for exchange, in form and substance reasonably satisfactory to the Bond Registrar, duly executed by the registered owner or by his or her duly authorized attorney -in -fact or legal representative. No Bond may be registered to bearer. Any such exchange or transfer shall be at the expense of the City, except that the Bond Registrar may require payment by the person requesting such exchange or transfer of a sum sufficient to cover any tax or other governmental charge which may be imposed with respect to the exchange or transfer of this Bond. The City may designate a successor Bond Registrar and /or Paying Agent, provided that written notice specifying the name and location of the designated office of any such successor shall be given to the registered owner of each of the Bonds. Upon registration of transfer of this Bond, the Bond Registrar shall furnish written notice to the transferee of the name and location of the designated office of the Bond Registrar and /or the Paying Agent. The Bond Registrar shall treat the registered owner as the person exclusively entitled to payment of the principal [and interest] and the exercise of all other rights and powers of the owner [except that interest payments shall be made to the person shown as the owner on the registration books on the fifteenth day of the month preceding each interest payment date]. It is certified and recited that all acts, conditions and things required by the Constitution and statutes of the Commonwealth of Virginia to happen, exist or be performed precedent to the issuance of this Bond have happened, exist or been performed in due time, form and manner as so required and that the indebtedness evidenced by this Bond is within every debt and other limit prescribed by the Constitution and statutes of the Commonwealth of Virginia. A -3