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the Registered Owner upon the surrender thereof for cancellation, at the expense of the City, all as <br />provided in the Ordinance. <br />With respect to any optional redemption of the Bonds, unless certain prerequisites to such <br />redemption required by the Ordinance have been met and moneys sufficient to pay the principal <br />of and premium, if any, and interest on the Bonds to be redeemed shall have been received by the <br />Paying Agent/Registrar prior to the giving of such notice of redemption, such notice shall state <br />that said redemption may, at the option of the City, be conditional upon the satisfaction of such <br />prerequisites and receipt of such moneys by the Paying Agent/Registrar on or prior to the date <br />fixed for such redemption, or upon any prerequisite set forth in such notice of redemption. If a <br />conditional notice of redemption is given and such prerequisites to the redemption and sufficient <br />moneys are not received, such notice shall be of no force and effect, the City shall not redeem <br />such Bonds and the Paying Agent/Registrar shall give notice, in the manner in which the notice of <br />redemption was given, to the effect that the Bonds have not been redeemed. <br />Notice of redemption shall be given at the times and in the manner provided in the Second <br />Supplement. <br />If this Bond is in a denomination in excess of $5,000, portions of the principal sum hereof <br />in principal amount of $5,000 or any integral multiple thereof may be redeemed, and, if less than <br />all of the principal sum hereof is to be redeemed, there shall be issued, without charge therefor, to <br />the Registered Owner hereof, upon the surrender of this Bond at the principal office of the Paying <br />Agent/Registrar, a new Bond or Bonds of like maturity, series and interest rate in any authorized <br />denominations provided by the Resolution for the then unredeemed balance of the principal <br />amount hereof. If this Bond is selected for redemption, in whole or in part, neither the City nor <br />the Paying Agent/Registrar shall be required to transfer this Bond to an assignee of the Registered <br />Owner within forty-five (45) days of the redemption date therefor; provided, however, such <br />limitation on transferability shall not be applicable to any exchange by the Registered Owner of <br />the unredeemed balance hereof in the event of its redemption in part. <br />The Bonds are special obligations of the City payable solely from and equally secured by <br />a lien on and pledge of the Security. The Bonds do not constitute a legal or equitable pledge, <br />charge, lien, or encumbrance upon any property of the City, except with respect to the Security. <br />The pledge of the Security and the other obligations of the City under the Ordinance may <br />be discharged at or prior to the maturity of the Bonds upon the making of provision for their <br />payment on the terms and conditions set forth in the Ordinance. <br />Subject to satisfying the terms and conditions stated in the Ordinance, the City has <br />reserved the right to issue additional Parity Debt payable solely from and equally and ratably <br />secured by a parity lien on and pledge of the Security and other moneys and securities pledged <br />under the Ordinance to the payment of the Bonds. <br />Reference is hereby made to the Ordinance, a copy of which is on file in the designated <br />office of the Paying Agent/Registrar, and to all of the provisions of which any Registered Owner <br />of this Bond by his acceptance hereof hereby assents, for definitions of terms; the description of <br />and the nature and extent of the security for the Bonds; the Security; the nature and extent and <br />B-3 <br />SanMARCOS\ELectricUliLSysRevBonds\2021: 2116uppOrdmiice <br />