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<br /> ¡;'t:J <br /> Section 3.06. Re~istration. Transfer and Exchange. <br /> (a) So long as any Certificates remain outstanding, the City shall cause the Paying <br /> Agent/Registrar to keep at the Designated Payment/Transfer Office a register (the "Register") in which, <br /> subject to such reasonable regulations as it may prescribe, the Paying Agent/Registrar shall provide for <br /> the registration and transfer of Certificates in accordance with this Ordinance. <br /> (b) Registration of any Certificate may be transferred in the Register. only upon the <br /> presentation and surrender thereof at the Designated Payment/Transfer Oftìce for transtèr of registration <br /> and cancellation, together with proper written instruments of assignment. in form and with guarantee of <br /> signatures satisfactory to the Paying Agent/Registrar, evidencing assignment of the Certificates, or any <br /> portion thereof in any integral multiple of $5,000, to the assignee or assignees thereof, and the right of <br /> such assignee or assignees thereof to have the Certificate or any portion thereof registered in the name <br /> of such assignee or assignees. No transfer of any Certificate shall be effective until entered in the <br /> Register. Upon assignment and transfer of any Certificate or portion thereof, a new Certificate or <br /> Certificates will be issued by the Paying Agent/Registrar in conversion and exchange for such transferred <br /> and assigned Ce~ificate. To the extent possible the Paying Agent/Registrar will issue such new <br /> Certificate or Certificates in not more than three business days after receipt of the Certificate to be <br /> transferred in proper form and with proper instructions directing such transfer. <br /> (c) Any Certificate may be converted and exchanged only upon the presentation and surrender <br /> thereof at the Designated Payment/Transfer Office, together with a written request therefor duly executed <br /> by the registered owner or assignee or. assignees thereof, or its or their duly authorized attorneys or <br /> representatives, with guarantees of signatures satisfactory to the Paying Agent/Règistrar, for a Certificate <br /> or Certificates of the same maturity and interest rate and in any authorized denomination and in an <br /> aggregate principal amount equal to the unpaid principal amount of the Certificate presented for exchange. <br /> If a portion of any Certificate is redeemed prior to its scheduled maturity as provided herein, a substitute <br /> Certitìcate or Certificates having the same maturity date, bearing interest at the same rate, in the <br /> denomination or denominations of any integral multiple of $5,000 at the request of the registered owner, <br /> and in an aggregate principal amount equal to the unredeemed portion thereof, will be issued to the <br /> registered owner upon surrender thereof for cancellation. To the extent possible, a new Certificate or <br /> Certificates shall be delivered by the Paying Agent/Registrar to the registered owner of the Certificate or <br /> Certificates in not more than three business days after receipt of the Certificate to be exchanged in proper <br /> form and with proper instructions directing such exchange. <br /> (d) Each Certificate issued in exchange for any Certificate or portion thereof assigned, <br /> transferred or converted shall have the same principal maturity date and bear interest at the same rate as <br /> the Certificate for which it is being exchanged. Each substitute Certificate shall bear a letter and/or <br /> number to distinguish it from each other Certificate. The Paying Agent/Registrar shall convert and <br /> exchange the Certificates as provided herein, and each substitute Certificate delivered in accordance with <br /> this Section shall constitute an original contractual obligation of the City and shall be entitled to the <br /> benefits and security of this Ordinance to the same extent as the Certificate or Certificates in lieu of which <br /> such substitute Certificate is delivered. <br /> (e) The City will pay the Paying Agent/Registrar's reasonable and customary charge for the <br /> initial registration or any subsequent transfer, exchange or conversion of Certificates, but the Paying <br /> Agent/Registrar will require the Owner to pay a sum sufficient to cover any tax or other governmental <br /> charge that is authorized to be imposed in connection with the registration, transfer, exchange or <br /> SANMAR\ CO9<lDOCS\O RD NC!!: 27.:n: 1:n:HBB p 7 <br />