Ord 1987-112 - Laserfiche WebLink

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stated maturity and of like tenor and principal amount bearing a number not contemporaneously outstanding. (c) Every new Obligation issued pursuant to this Section in lieu of any mutilated, destroyed, lost, or stolen Obligation shall constitute a replacement of the prior obligation of the Issuer, whether or not the mutilated, destroyed, lost, or stolen Obligation shall be at any time enforceable by anyone, and shall be entitled to all the benefits of the Bond Resolution equally and ratably with all other outstanding Obligations. (d) Upon the satisfaction of the Bank and the Issuer, that a Obligation has been mutilated, destroyed, lost or stolen, and upon receipt by the Bank and the Issuer of such indemnity or security as they may require, the Bank shall cancel the Obligation number on the Obligation registered with a notation in the Register that said Obligation has been mutilated, destroyed, lost or stolen and a new Obligation shall be issued of the same series and of like tenor and principal amount bearing a number (according to the Register) not contemporaneously outstanding. (e) The Bank may charge the Owner the Bank's fees and expenses in connection with issuing a new Obligation in lieu of or exchange for a mutilated, destroyed, lost or stolen Obligation. (f) The Issuer hereby accepts the Bank's current blanket certificate for lost, stolen, or destroyed Obligations and any future substitute blanket certificate for lost, stolen, or destroyed Obligations that the Bank may arrange, and agrees that the coverage under any such blanket certificate is acceptable to it and meets the Issuer's requirements as to security or indemnity. The Bank need not notify the Issuer of any changes in the security or other company giving such certificate or the terms of any such certificate, provided that the amount of such certificate is not reduced below the amount of the certificate on the date of execution of this Agreement. The blanket certificate then utilized by the Bank for lost, stolen or destroyed Obligations by the Bank is available for inspection by the Issuer on request. Section 4.07. Transaction Information to Issuer. The Bank will, within a reasonable time after receipt of written request from the Issuer, furnish the Issuer information as to the Obligations it has paid pursuant to 3.01, Obligations it has delivered upon the transfer or exchange of any Obligations pursuant to Section 4.01 and Obligations it has delivered in exchange for or in lieu of mutilated, destroyed, lost or stolen Obligations pursuant to Section 4.06. ARTICLE FIVE THE BANK Section 5.01. Duties of Bank. The Bank undertakes to perform the duties set forth herein and in accordance with the Bond Resolution and agrees to use reasonable care in the performance thereof. The Bank hereby agrees to use the 2057f -6-