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Date and ending with the opening of business on the next following principal or interest payment <br />date, or, (ii) with respect to any Bond or any portion thereof called for redemption prior to <br />maturity, within 45 days prior to its redemption date; provided, however, such limitation of <br />transfer shall not be applicable to an exchange by the Registered Owner of an unredeemed <br />balance of a Bond called for redemption in part. <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 <br />transferring this Bond shall be modified to require the appropriate person or entity to meet the <br />requirements of the securities depository as to registering or transferring the book entry to <br />produce the same effect. <br />IN THE EVENT any Paying Agent/Registrar for the Bonds is changed by the City, <br />resigns or otherwise ceases to act as such, the City has covenanted in the Bond Ordinance that it <br />promptly will appoint a competent and legally qualified substitute therefor, and cause written <br />notice thereof to be mailed to the Registered Owners of the Bonds. <br />IT IS HEREBY certified, recited and covenanted that this Bond has been duly and <br />validly authorized, issued and delivered; that all acts, conditions and things required or proper to <br />be performed, exist, and be done precedent to or in the authorization, issuance and delivery of <br />this Bond have been performed, existed and been done in accordance with law; that this Bond is <br />payable from ad valorem taxes, within the limits prescribed 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 Issuer and agrees that <br />the terms and provisions of this Bond and the Bond Ordinance constitute a contract between each <br />Registered Owner hereof and the City. <br />IN WITNESS WHEREOF, the City has caused this Bond to be signed with the manual <br />or facsimile signature of the Mayor of the City, and countersigned with the manual or facsimile <br />signature of the City Clerk of the City and the official seal of the City has been duly impressed, <br />or placed in facsimile, on this Bond. <br />(facsimile signature) (facsimile signature) <br />City Clerk, City of San Marcos, Texas Mayor, City of San Marcos, Texas <br />(CITY SEAL) <br />FORM OF REGISTRATION CERTIFICATE <br />OF THE COMPTROLLER OF PUBLIC ACCOUNTS: <br />16 <br />San Marcos GORB2021 - Delegated: Ordinance <br />