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of the transfer, conversion and exchange of the Bonds (the "Registration Books"), and the City <br /> hereby appoints the Paying Agent/Registrar as its registrar and transfer agent to keep such books or <br /> records and make such registrations of transfers,conversions and exchanges under such reasonable <br /> regulations as the City and Paying Agent/Registrar may prescribe; and the Paying Agent/Registrar <br /> shall make such registrations,transfers, conversions and exchanges as herein provided within three <br /> days of presentation in due and proper form. The Paying Agent/Registrar shall obtain and record in <br /> the Registration Books the address of the Registered Owner of each Bond to which payments with <br /> respect to the Bonds shall be mailed,as herein provided;but it shall be the duty of each Registered <br /> Owner to notify the Paying Agent/Registrar in writing of the address to which payments shall be <br /> mailed,and such interest payments shall not be mailed unless such notice has been given. The City <br /> shall have the right to inspect the Registration Books during regular business hours of the Paying <br /> Agent/Registrar, but otherwise the Paying Agent/Registrar shall keep the Registration Books <br /> confidential and, unless otherwise required by law, shall not permit their inspection by any other <br /> entity. The Paying Agent/Registrar shall make a copy of the Registration Books available in the <br /> State of Texas. The City shall pay the Paying Agent/Registrar's standard or customary fees and <br /> charges for making such registration, transfer, conversion, exchange and delivery of a substitute <br /> Bond or Bonds. Registration of assignments,transfers,conversions and exchanges of Bonds shall be <br /> made in the manner provided and with the effect stated in the FORM OF BOND set forth in this <br /> Ordinance. Each substitute Bond shall bear a letter and/or number to distinguish it from each other <br /> Bond. <br /> Except as provided in Section 5(c) hereof, an authorized representative of the Paying <br /> Agent/Registrar shall,before the delivery of any such Bond,date and manually sign the Bond,and no <br /> such Bond shall be deemed to be issued or outstanding unless such Bond is so executed. The Paying <br /> Agent/Registrar promptly shall cancel all paid Bonds and Bonds surrendered for conversion and <br /> exchange. No additional orders, ordinances, or resolutions need be passed or adopted by the <br /> governing body of the City or any other body or person so as to accomplish the foregoing conversion <br /> and exchange of any Bond or portion thereof, and the Paying Agent/Registrar shall provide for the <br /> printing, execution, and delivery of the substitute Bonds in the manner prescribed herein, and the <br /> Bonds shall be of type composition printed on paper with lithographed or steel engraved borders of <br /> customary weight and strength. Pursuant to Chapter 1206,Texas Government Code,as amended, <br /> and particularly Subchapter B thereof,the duty of conversion and exchange of Bonds as aforesaid is <br /> hereby imposed upon the Paying Agent/Registrar, and, upon the execution of the Bond, the <br /> convened and exchanged Bond shall be valid,incontestable,and enforceable in the same manner and <br /> with the same effect as the Bonds which initially were issued and delivered pursuant to this <br /> Ordinance,approved by the Attorney General,and registered by the Comptroller of Public Accounts. <br /> (b) Payment of Bonds and Interest. The City hereby further appoints the Paying <br /> Agent/Registrar to act as the paying agent for paying the principal of and interest on the Bonds,all as <br /> provided in this Ordinance. The Paying Agent/Registrar shall keep proper records of all payments <br /> made by the City and the Paying Agent/Registrar with respect to the Bonds,and of all conversions <br /> and exchanges of Bonds,and all replacements of Bonds,as provided in this Ordinance. However,in <br /> the event of a nonpayment of interest on a scheduled payment date, and for thirty (30) days <br /> thereafter,a new record date for such interest payment(a"Special Record Date")will be established <br /> by the Paying Agent/Registrar,if and when funds for the payment of such interest have been received <br /> 6 <br /> sanAlxtms\W62a IS ONlnm¢eG0 <br />