8A, Presbyterian Homes TIF - Laserfiche WebLink

Home Browse Search

Section 3. Terms, Execution and Deliverv. 3.01. Denomination, Pa,yment. The Note shall be issued as a single typewritten note numbered R-1. The Nate shall be issuable only in fiilly registered form. Principal of and ittterest on the Note shall be payable by check or draft issued by the Registrar described herein. 3.02. Dates� Interest Pa ent Dates. Principal of and interest on the Note shall be payabie by mail to the owner of r�card thereof as of the close of business on the fifteent;h day of the month preceding the Payment Date, whethar or not such day is a business day. 3.03. Re�istration. The Ciiy hereby appoints the City Adnninistrator to perform the f�mctians of registrar, transfer agent and paying agent (the "Registrar"). The effect of registration and the rights and duties of the City and the Registrar with respect thereto shalI be as fallows: (a} Re�ister. The Registrar shall keep at its office a bond register in which the Registrar shall provide for #he registration of ownership of the Note and the registration of transfers and exchanges af the Note. {b) Transfer of Note. Upon surrender for transfer of the Note duiy endorsed by the registered owner thereof or accompanied by a written instrument of transfer, in %rm reasonably satisfactory to the Registrar, duly executed by the registered owner thereof or by an attorney duly authorized by the registereci owner in writing, the Registrar shall authenticate and deliver, in the name of the designated transferee or transferees, a new Note of a like aggregate principai amount and mahtrity, as requested by the transferor. Noiwithstanding the foregaing, the Note sha�l not be i:ransferred to any persan other thatz an affiliate, or other related entity, of the Owner unless the City has been providad with an opinion of counse� or a certificate af the transferor, in a%rm satisfactory to the City, that such transfer is exempt from regis#ration and prospectus deIivery requirements af federal and applicable state securities laws. The Registrar may close the bo�ks for registration of any transfer after the fifteenth day of the month preceding each Payment Date and until such Payment Date. (c) Cancellation. The Note surrendered upon any transfer shall b� promptty cancelled by the Registrar and thereafter disposed of as directed by the City. (d) Im ro er or Unauthorized Transfer. When the Note is presented to the Registrar for transfer, the Registrar �nay refuse to transfer the same until it is satisfied that the endorsement an such Note or separate instru�nent of transfer is legally anthorized. The Regis#rar shall incur no liabiIity for its refusaI, in good faith, to make transfers which it, in its judgment, deems improper or unau�horized. {e) Persons Deemed Owners. The City and the Registrar may treat the person in whose name the Note is at any time registercd in fihe bond register as the absolute owner of the Note, whether the Note shall be overdue or not, for the purpose of receiving payment of, or on account o�, the principal of and interest on such Note and for all other purposes, and all such payments so made to any such registered owner or upon the owner's order shall be valid and effectual to satisfy and discharge the liability of the City upon such Note to ihe extent of the surn or sums so paid. { fl Taxes, Fees and Char�es. For every transfer or exchange of the Note, the Registrar may impose a charge upon the owner �ereof sufFicient to reimburse #he Registrar for any tax, fee, or other govemmental charge required by law t� be paid with respect to such transfer ar exchange. ��gz�6Vi �zzoa-io 5