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the date of original .issue. The interest on the Bonds is payable .on. February .l and August: I of each year, ' commencing February 1, :2019, to the. registered owners of record thereof as of the. close of business :on the fifteenth day of the immediately preceding month, whether or not such day is a business day. 2.01. Registration. The City will appoint a :bond registrar, transfer agent, .authenticating agent and paying agent (the "Registrar"). Theeffect of registration. and the rights and duties of the City and. the Registrar with respect thereto. are as follows: (a) Register. The Registrar must keep at its principal corporate trust office a bond register in which the Registrar provides for the registration of ownership .of Bonds and the registration.of transfers and exchanges of Bonds entitled to.be registered, transferred .ar exchanged.. (b) Transfer of Bonds. Upon. surrender for transfer of a Bond duly endorsed by the registered.owner thereof or accompanied .by a written instrument of transfer, in form satisfactory to the Registrar, duly executed by.the registered owner thereof or by anattorney duly authorized by the registered owner :in writing, the Registrar. will authenticate and. deliver, in the name of the designated transferee or transferees, one or more new Bonds of a like aggregate principal amount and maturity, as: requested, by the transferor. The. Registrar may, however; close the books for registration. of any transfer after the fifteenth day of the month preceding each. interest payment date and until. that interest payment date. (c) Exchange of Bonds. When Bonds are surrendered by the registered owner for exchange the Registrar will. authentiicate. and. deliver one or more .new Bonds. of a likeaggregate principal amount and maturity as requested by the registered owner or the owner's .attorney in writing. (d7 Cancellation. Bonds surrendered upon transfer or exchange will. be promptly cancelled by the Registrar and: thereafter disposed of as directed by the City. (e) Improper or UnautIiorized Transfer. When a Bond is presented to the Registrar for transfer; the Registrar may refuse to transfer the Bond until the Registrar is satisfied that the endorsement on the Bond or separate instrument" of transfer .is valid and genuine and that the requested transfer is. legally authorized. The Registrar will incur no liability for the refusal, in good faith, to:make transfers -which it, in its judgment, deems improper or unauthorized. (f) Persons Deemed Owners. The City and the Registrar may treat the. person in whose name a Bond is registered in the bond register as the absolute owner of the Bond, whether the Bond is -.overdue or.not, for the purpose.of receiving payment of, or on account of, the principal Of and interest on the Bond and for all other purposes, and payments so made to a registered owner or upon -the owner's order will he valid and effectual to satisfy and discharge the liability upon the Bond to the extent of the sum or sums so paid. (g) Taxes, Fees and Charges. The Registrar may impose a charge upon the owner thereof for a transfer or exchange of Bonds sufficient to reimburse the Registrar for any tax; fee or other governmental charge required" to be paid with respect to the transfer or exchange. (h) Mutilated. Lost, Stolen or.Destroyed Bonds. 1f a Bond becomes mutilawd or is destroyed, stolen or lost, the Registrar will deliver a new Bond of .1 ike. amount,. number, inaturity (, date andtenor 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 526486❑ 1.:GAF GE190-14 4