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owner or upon the owner's order shall be valid and effectual to satisfy and discharge the liability of the City upon such Note 1 to the extent of the sum or sums so paid. (f) Taxes, Fees and Charges. For every transfer or exchange of Note 1, the Registrar may impose a charge upon the owner thereof sufficient to reimburse the Registrar for any tax, fee, or other governmental charge required to be paid with respect to such transfer or exchange. (g) Mutilated, Lost, Stolen or Destroyed Note 1. In case Note 1 shall become mutilated or be lost, stolen, or destroyed, the Registrar shall deliver a new Note of like amount, maturity dates and tenor in exchange and substitution for and upon cancellation of such mutilated Note 1 or in lieu of and in substitution for such Note 1 lost, stolen, or destroyed, upon the payment of the reasonable expenses and charges of the Registrar in connection therewith; and, in the case Note 1 is lost, stolen, or destroyed, upon filing with the Registrar of evidence satisfactory to it that such Note 1 was lost, stolen, or destroyed, and of the ownership thereof, and upon furnishing to the Registrar of an appropriate bond or indemnity in form, substance, and amount satisfactory to it, in which both the City and the Registrar shall be named as obligees. Note 1 so surrendered to the Registrar shall be cancelled by it and evidence of such cancellation shall be given to the City. If the mutilated, lost, stolen, or destroyed Note 1 has already matured or been called for redemption in accordance with its terms, it shall not be necessary to issue a new Note prior to payment. 3.04. Preparation and Delivery. Note 1 shall be prepared under the direction of the County Auditor and shall be executed on behalf of the City by the signatures of its Mayor and Assistant City Clerk. In case any officer whose signature shall appear on Note 1 shall cease to be such officer before the delivery of Note 1, such signature shall nevertheless be valid and sufficient for all purposes, the same as if such officer had remained in office until delivery. When Note 1 has been so executed, it shall be delivered by the Assistant City Clerk to the Owner thereof upon closing on the acquisition and conveyance of the Property from the City to the Owner in accordance with the Agreement. Section 4. Security Provisions. 4.01. Pledge. The City hereby pledges to the payment of the principal of and interest on Note 1 all Available Tax Increment as defined in Note 1. Available Tax Increment shall be applied to payment of the principal of and interest on Note 1 in accordance with the terms of the form of Note 1 set forth in Section 2 of this resolution. 4.02. Bond Fund. Until the date Note 1 is no longer outstanding and no principal thereof or interest thereon (to the extent required to be paid pursuant to this resolution) remains unpaid, the City shall maintain a separate and special "Bond Fund" to be used for no purpose other than the payment of the principal of and interest on Note 1. The City irrevocably agrees to appropriate to the Bond Fund in each year Available Tax Increment necessary to pay principal and interest due on Note 1 in such year. Any amounts remaining in the Bond Fund upon the payment of all principal and interest to be paid with respect to this Note 1 shall be transferred to the Bond Fund established in connection with the City's $97,036.03 Tax Increment Revenue Note, Series 1995B, and if that Note is no longer outstanding, to the City's account for TIF District No. 1 -4. 3SB93339 Rev lead CE155-7 7