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registration and the rights and duties of the City and the Registrar with respect thereto shall be as <br /> follows: <br /> (a) Re ig•ster The Registrar shall keep at its principal office a bond register in which the <br /> Registrar shall provide for the registration of ownership of the Bonds and the registration of <br /> transfers or exchanges of the Bonds. <br /> (b) Transfer of Bonds Upon surrender for transfer of the Bonds duly endorsed by the <br /> registered owner thereof or accompanied by a written instrument of transfer, in form satisfactory <br /> to the Registrar, duly executed by the registered owner thereof or by an attorney duly authorized <br /> by the registered owner in writing, the Registrar shall authenticate and deliver, in the name of the <br /> designated transferee or transferees, a new Bond of a like aggregate principal amount and <br /> maturity, as requested by the transferor. The Registrar may close the books for registration of <br /> any transfer after the fifteenth day of the month preceding each Interest Payment Date and until <br /> such Interest Payment Date. <br /> (c) Cancellation The Bonds surrendered upon any transfer shall be promptly canceled <br /> by the Registrar and thereafter disposed of as directed by the City. <br /> (d) Improper or Unauthorized Transfer When any Bond is presented to the Registrar <br /> for transfer, the Registrar may refuse to transfer the same until it is satisfied that the endorsement <br /> on such Bond or separate instrument of transfer is valid and genuine and the requested transfer is <br /> legally authorized. The Registrar shall incur no liability for its refusal, in good faith, to make <br /> transfers which it, in its judgment, deems improper or unauthorized. <br /> (e) Persons Deemed Owners The City and the Registrar may treat the person(s) in <br /> whose name(s) the Bonds are at any time registered in the bond register as the absolute owners <br /> of the Bonds, whether the Bonds shall be overdue or not, for the purpose of receiving payment <br /> of, or on account of, the principal of or interest on such Bonds and for all other purposes, and all <br /> such payments so made to any such registered owners or upon the owners' order shall be valid <br /> and effectual to satisfy and discharge the liability of the City upon such Bonds to the extent of <br /> the sum or sums so paid. <br /> (f) Taxes, Fees and Charges For every transfer or exchange of Bonds, the Registrar <br /> may impose a charge upon the owner thereof sufficient to reimburse the Registrar for any tax, <br /> fee, or other governmental charge required to be paid with respect to such transfer or exchange. <br /> (g) Mutilated, Lost, Stolen or Destroyed Bonds In case any Bond shall become <br /> mutilated or be lost, stolen, or destroyed, the Registrar shall deliver a new Bond of like amount, <br /> maturity dates and tenor in exchange and substitution for and upon cancellation of such mutilated <br /> Bond or in lieu of and in substitution for such Bond lost, stolen, or destroyed, upon the payment <br /> of the reasonable expenses and charges of the Registrar in connection therewith; and, in the case <br /> of a Bond lost, stolen, or destroyed, upon filing with the Registrar of evidence satisfactory to it <br /> that such Bond was lost, stolen or destroyed, and of the ownership thereof, and upon furnishing <br /> to the Registrar of an appropriate bond or indemnity in form, substance, and amount satisfactory <br /> to it, in which both the City and the Registrar shall be named as obligees. All Bonds so <br /> 7 <br />