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appropriate Registered Owner, assignee or assignees, as the case may be, upon surrender of this <br /> Bond to the Paying Agent/Registrar for cancellation,all in accordance with the form and procedures <br /> set forth in the Bond Ordinance. Among other requirements for such assignment and transfer,this <br /> Bond must be presented and surrendered to the Paying Agent/Registrar, together with proper <br /> instruments of assignment, in form and with guarantee of signatures satisfactory to the Paying <br /> Agent/Registrar,evidencing assignment of this Bond or any portion or portions hereof in any integral <br /> multiple of$5,000 to the assignee or assignees in whose name or names this Bond or any such <br /> portion or portions hereof is or are to be registered. The form of Assignment printed or endorsed on <br /> this Bond may be executed by the Registered Owner to evidence the assignment hereof, but such <br /> method is not exclusive, and other instruments of assignment satisfactory to the Paying <br /> Agent/Registrar may be used to evidence the assignment of this Bond or any portion or portions <br /> hereof from time to time by the Registered Owner. The Paying Agent/Registrar's reasonable <br /> standard or customary fees and charges for assigning, transferring, converting and exchanging any <br /> Bond or portion thereof will be paid by the City. In any circumstance, any taxes or governmental <br /> charges required to be paid with respect thereto shall be paid by the one requesting such assignment, <br /> transfer, conversion or exchange, as a condition precedent to the exercise of such privilege. The <br /> Paying Agent/Registrar shall not be required to make any such transfer, conversion, or exchange <br /> during the period commencing on the close of business on any Record Date and ending with the <br /> opening of business on the next following principal or interest payment date. <br /> WHENEVER the beneficial ownership of this Bond is determined by a book entry at a <br /> securities depository for the Bonds,the foregoing requirements of holding,delivering or transferring <br /> this Bond shall be modified to require the appropriate person or entity to meet the requirements of <br /> the securities depository as to registering or transferring the book entry to produce the same effect. <br /> IN THE EVENT any Paying Agent/Registrar for the Bonds is changed by the City,resigns, <br /> or otherwise ceases to act as such, the City has covenanted in the Bond Ordinance that it promptly <br /> will appoint a competent and legally qualified substitute therefor,and cause written notice thereof to <br /> be mailed to the Registered Owners of the Bonds. <br /> IT IS HEREBY certified,recited,and covenanted that this Bond has been duly and validly <br /> authorized, issued, and delivered; that all acts, conditions, and things required or proper to be <br /> performed, exist, and be done precedent to or in the authorization, issuance, and delivery of this <br /> Bond have been performed, existed, and been done in accordance with law; and that ad valorem <br /> taxes sufficient to provide for the payment of the interest on and principal of this Bond, as such <br /> interest comes due,and as such principal matures,have been levied and ordered to be levied against <br /> all taxable property in the City,and have been pledged for such payment,within the limit prescribed <br /> by law. <br /> BY BECOMING the Registered Owner of this Bond, the Registered Owner thereby <br /> acknowledges all of the terms and provisions of the Bond Ordinance, agrees to be bound by such <br /> terms and provisions, acknowledges that the Bond Ordinance is duly recorded and available for <br /> inspection in the official minutes and records of the governing body of the City,and agrees that the <br /> terms and provisions of this Bond and the Bond Ordinance constitute a contract between each <br /> Registered Owner hereof and the City. <br /> 15 <br /> SanMarcos GOB20 18 OrdinanceGO <br />