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M Exchan of Bonds. when Bonds are surrendered by the registered owner for exchange the Registrar will authenticate and deliver one or more new Bonds of a like aggregate principal amount and maturity as requested by the registered owner or the owner's attorney in writing. (d) Cancellation . Bonds surrendered upon any transfer or exchange gill be promptly cancelled by the Registrar and thereafter disposed of as directed by the City . (e) Improper or Unauthorized 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 . M persons Deemed owners. The City and the Registrar may treat the P erson 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 registered owner or upon the owner's order will be valid and effectual to satisfy and discharge the liability upon such Bond to the extent of the sum or sums so paid Taxes Fees and Charges . For a transfer or exchange of Bonds, F owner thereof sufficient to the Registrar may impose a charge Upon the reimburse the Registrar for any tax, fee or other governmental charge required to be paid with respect to the transfer or exchange (h) utilated Lost Stolen or Destro ed Bonds . If a Bond becomes mutilated or is destroyed, stolen or lost, the Registrar will deliver a new Bond of like amount, number, maturity date and tenor in exchange and substitution for and upon cancellation of the mutilated Bond or in lieu of and in substitution for a Bond destroyed, stolen or lost, upon the payment of the reasonable expenses and charges of the Registrar in convection therewith; and in the case of a B and destroyed, stolen or lost, upon filing with the Registrar of evidence satisfactory to it that the Bond was destroyed, stolen or lost, 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 and as provided by law, in which both the City and the Registrar must be named as obligees. Bonds so surrendered to the Registrar wiH be cancelled by the Registrar and evidence of such cancellation Faust be ► ven to the City. If the mutilated, destroyed, stolen or lost Bond has given matured or been died for redemption in accordance with its terms it is not necessary to issue a new Bond prior to payment a (1) Redem tion , In the event any of the Bonds are called for redemption, notice thereof identifying the Bonds to be redeemed will be given � Registrar � mailing � tlon notice b first class mail by the by a copy of the redemp y re aid ) not more than 6o and not less than 3 o days prior to the date (postage prepaid) ed at fixed for redemption to the registered owner of each Bond to be redeem the address shown on the registration books kept by the Registrar and. by =47 ,667 =200+10 4