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date and tenor in: exchange-and•substitution.for and upon cancellation of the mutilated Bond. or. in lieu of and in. substitution for -any Bond destroyed;- stolen or lost, upon the payment of the reasonable expenses and charges of. the Registrar in connection therewith; and; in the case of a Bond destroyed, stolen or, lost, .upon filing with the Registrar of evidence. satisfactoryto--it that the Bond was destroyed, stolen or lost, and of the ownership thereof, and upon - furnishing to the. Registrar an appropriate bond or indeinnity in form, substance and amount satisfactory to it.and as provided by law, in which both the -City.. and the Registrar must be named as obligees: Bonds .so surrendered to the Registrar. Will be :cancelled by the Registrar and .evidence of such cancellation must be given .to *the City. If the mutilated, destroyed stolen or lost Bond has ahieady matured or been called for redemption in accordance with its terms it is not-necessary.to issue a new Bond prior to payment. (ij Redemption. In the. event any -of the Bonds are called for redemption] notice thereof identifying the Bonds to be redeemed will be given by the Registrar by mailing -a copy of the :redemption. notice. by first class mail (postage prepaid.:) to the. registered eachbond. to be redeemed at the address shown on the registration :books kept. by the .Registrar and by publishing the notice if required bylaw. Failure to. give notice by publication or by mail to any registered owner,. or any. defect therein, will not. affect the -validity of any proceeding for the redemption of Bonds. :Bonds so called for redemption will cease. tobear interest after the. specified redemption date, provided that the funds for the redefption aie on deposit with the place of payment at that time. 2.04, Agpointment of Initial Registrar. The City appoints U.S. Bank National Association; St.. Paul, Minnesota, as the initial Registrar, The Mayor and the .City Administrator -Clerk are authorized to execute and:deliver; on behalf of the City, a contract with the Registrar. Upon merger or consolidation of the Registrar with another corporation, if the resulting corporation is abank' or trust company authorized by law to conduct such business, the resulting corporation is authorized to act as. successor Registrar. The Pity agrees to pay the reasonable arld..customary charges of the Registrar for the -.services performed. The City reserves the right to remove the Registrar upon 34 days' notice and upon the appointment: of a successor Registrar, in which event the predecessor Registrar must deliver all cash and .Bonds in -its possession to the successor Registrar and must deliver the bond registeria.the successor li`egistrar. On or before: each principal or interest due date, without. further order of this Couneil, the City Administrator— Clerk must transmit to the Registrar moneys sufficient for .the paymmnt'of all principal. and interest:then due. 2-M. Execution, Aufhentication and Delivery: The Bonds will be. prepared under the direction of the -City Administrator -Clerk and executed on behalf of the City by the signatures of the.Mayor and the City Administrator -Clerk, provided that those signatures may be printed, engraved. or lithographed facsimiles of the. originals. If an:af icer whose signature ora-facsimile of -whose signature;'appears on the Bonds ceases to be such officer before the delivery of a Bond; that signature or facsimile will nevertheless be valid and sufficient for.all purposes, the same as if the officer had remained in office until delivery, Notwitbstanding such execution, a Bond will not be valid or obligatory for any purpose or entitled to any security or benefit under this resolution unless .and until a certificate of authentication on the Bond has been duly executed bythe manual signature of an authorized representative of the Registrar. Certificates of authentication on -different 'Bonds need not .be -signed by the same representative. The executed certificate of authentication on a Bond _is conclusive evidence that it has been authenticated and delivered under this resolution, When the Bonds have been so prepared, executed and authenticated, the City Administrator -Clerk will deliver the same to the, Purchaser upon payment. o. the. purchase price in accordance. with the contract of sale heretofore made and executed, and the Purchaser is not obligated to see to the application of the purchase.p6ce. 461255A GAF GM90=12