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<br />(c) If, after the delivery of such replacement CertIficate, a bona fide purchaser of the orig1Oal
<br />CertIficate 10 lieu of whIch such replacement Certificate was Issued presents for payment such ongmal
<br />CertIficate, the CIty and the Paymg Agent/RegIstrar shall be entitled to recover such replacement CertIficate
<br />from the person to whom it was delivered or any person takmg therefrom, except a bona fide purchaser, and
<br />shall be entItled to recover upon the security or mdemmty proVIded therefor to the extent of any loss, dalTlage,
<br />cost or expense incurred by the CIty or the Paymg Agent/RegIstrar in connectiOn therewIth.
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<br />(d) In the event that any such mutilated, lost, apparently destroyed or wrongfully taken Certificate
<br />has become or IS about to become due and payable, the Paymg Agent/RegIstrar, 10 ItS dIscretion, mstead of
<br />Issu10g a replacement CertIficate, may pay such CertIficate If It has become due and payable or may pay such
<br />CertIficate when It becomes due and payable
<br />
<br />(e) Each replacement CertIficate delivered 10 accordance WIth thIS SectiOn shall constItute an
<br />origmal contractual obligatiOn of the CIty and shall be entItled to the benefits and secunty of this Ordmance
<br />to the SalTle extent as the CertIficate or CertIficates 10 lieu of which such replacement CertIficate IS delivered,
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<br />Section 3 09, Book-Entrv-Only System.
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<br />(a) The defimtive Certificates shall be lmtially issued 10 the form of a separate single fully
<br />regIstered CertIficate for each of the matunties thereof Upon mltiallssuance, the ownership of each such
<br />CertIficate shall be regIstered 10 the nalTle of Cede & Co , as nommee of DTC, and except as prOVIded 10
<br />SectiOn 3 11 hereof, all of the outstandmg CertIficates shall be registered 10 the nalTle of Cede & Co , as
<br />nommee of DTC
<br />
<br />(b) With respect to CertIficates regIstered 10 the nalTle of Cede & Co , as nommee of DTC, the
<br />CIty and the Paymg Agent/Registrar shall have no responsibility or obligatIOn to any DTC PartICIpant or to
<br />any person on behalf of whom such a DTC Participant holds an interest 10 the CertIficates, except as proVIded
<br />in thIS Ordmance Without limItmg the Immediately precedmg sentence, the City and the Paymg
<br />Agent/RegIstrar shall have no responsibility or obligation WIth respect to (i) the accuracy of the records of
<br />DTC, Cede & Co or any DTC PartICIpant With respect to any ownershIp 10terest in the CertIficates, (ii) the
<br />delivery to any DTC PartIcIpant or any other person, other than an Owner, as shown on the Register, of any
<br />notice WIth respect to the Certificates, mcludmg any notIce of redemptiOn, or (lll) the payment to any DTC
<br />PartIcIpant or any other person, other than an Owner, as shown in the RegIster of any amount WIth respect to
<br />pnnclpal of, premIUm, If any, or mterest on the CertIficates Notwithstanding any other proVision of this
<br />Ordmance to the contrary, the City and the Paymg Agent/Registrar shall be entitled to treat and conSIder the
<br />person 10 whose name each CertIficate IS regIstered 10 the RegIster as the absolute Owner of such CertIficate
<br />for the purpose of payment of prmclpal of, premIUm, If any, and mterest on the CertIficates, for the purpose
<br />of glVlng notIces of redemptiOn and other matters with respect to such Certificate, for the purpose of registermg
<br />transfer WIth respect to such CertIficate, and for all other purposes whatsoever The Paymg Agent/RegIstrar
<br />shall pay all pnnclpal of, premiUm, If any, and mterest on the Certificates only to or upon the order of the
<br />respective Owners, as shown 10 the RegIster as prOVIded 10 thiS Ordmance, or theIr respectIve attorneys duly
<br />authonzed 10 wntmg, and all such payments shall be valid and effective to fully satisfy and dIscharge the CIty'S
<br />obligatiOns With respect to payment of, premIUm, If any, and mterest on the Certificates to the extent of the sum
<br />or sums so paid. No person other than an Owner, as shown 10 the regIster, shall receIve a CertIficate
<br />eVIdencing the obligatiOn of the CIty to make payments of alTlounts due pursuant to thIS Ordinance, Upon
<br />delivery by DTC to the Paymg Agent/RegIstrar of wntten notice to the effect that DTC has determmed to
<br />substitute a new nommee 10 place of Cede & Co , and subJect to the proviSIons in this Ordmance with respect
<br />
<br />San Marcos CTRCO 2007A. Ordinance
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