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