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<br />(c) If, after the delivery of such replacement Bond, a bona fide purchaser of the original Bond
<br />in lieu of which such replacement Bond was issued presents for payment such original Bond, the City and
<br />the Paying Agent/Registrar shall be entitled to recover such replacement Bond from the person to whom
<br />it was delivered or any person taking therefrom, except a bona fide purchaser, .and shall be entitled to
<br />recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense
<br />incurred by the City or the Paying Agent/Registrar in connection therewith.
<br />
<br />(d) In the event that any such mutilated, lost, apparently destroyed or wrongfully taken Bond
<br />has become or is about to become due and payable, the Paying Agent/Registrar, in its discretion, instead
<br />of issuing a replacement Bond, may pay such Bond.
<br />
<br />(e) Each replacement Bond delivered in accordance with this Section shall constitute an
<br />original contractual obligation of the City and shall be entitled to the benefits and security of this Ordinance
<br />to the same extent as the Bond or Bonds in lieu of which such replacement Bond is delivered.
<br />
<br />Section 3.10. Book-Entry Only System.
<br />
<br />(a) The definitive Bonds shall be initially issued in the form of a separate single fully registered
<br />Bond for each of the maturities thereof Upon initial issuance, the ownership of each such Bond shall be
<br />registered in the name of Cede & Co., as nominee ofDTC, and except as provided in Section 3.11 hereof,
<br />all of the outstanding Bonds shall be registered in the name of Cede & Co., as nominee ofDTC.
<br />
<br />(b) With respect to Bonds registered in the name of Cede & Co., as nominee of DTC, the City
<br />and the Paying Agent/Registrar shall have no responsibility or obligation to any DTC Participant or to any
<br />person on behalf of whom such a DTC Participant holds an interest in the Bonds, except as provided in this
<br />Order. Without limiting the immediately preceding sentence, the City and the Paying Agent/Registrar shall
<br />have no re~ponsibility or obligation with respect to (i) the accuracy of the records of DTC, Cede & Co. or
<br />any DTC Participant with respect to any ownership interest in the Bonds, (ii) the delivery to any DTC
<br />Participant or any other person, other than an Owner, as shown on the Register, of any notice with respect
<br />to the Bonds, including any notice of redemption, or (iii) the payment to any DTC Participant or any other
<br />person, other than an Owner, as shown in the Register of any amount with respect to principal of, premium,
<br />if any, or interest on the Bonds. Notwithstanding any other provision of this Order to the contrary, the City
<br />and the Paying Agent/Registrar shall be entitled to treat and consider the person in whose name each Bond
<br />is registered in the Register as the absolute Owner of such Bond for the purpose of payment of principal
<br />of, premium, if any, and interest on the Bonds, for the purpose of giving notices of redemption and other
<br />matters with respect to such Bond, for the purpose of registering transfer with respect to such Bond, and
<br />for all other purposes whatsoever. The Paying Agent/Registrar shall pay all principal of, premium, if any,
<br />and interest on the Bonds only to or upon the order of the respective Owners, as shown in the Register as
<br />provided in this Order, or their respective attorneys duly authorized in writing, and all such payments shall
<br />be valid and effective to fully satisfy and discharge the City's obligations with respect to payment of,
<br />premium, if any, and interest on the Bonds to the extent of the sum or sums so paid. No person other than
<br />an Owner, as shown in the register, shall receive a Bond certificate evidencing the obligation of the City
<br />to make payments of amounts due pursuant to this Order. Upon delivery by DTC to the Paying
<br />Agent/Registrar of written notice to the effect that DTC has determined to substitute a new nominee in
<br />place of Cede & Co., and subject to the provisions in this Order with respect to interest checks or drafts
<br />being mailed to the registered Owner at the close of business on the Record Date, the term "Cede & Co."
<br />in this Order shall refer to such new nominee of DTC.
<br />
<br />(c) The previous execution and delivery of the Blanket Letter of Representation with respect
<br />to obligations of the City is hereby ratified and confirmed; and the provisions thereof shall be fully
<br />applicable to the Bonds.
<br />
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