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<br /> IL(:;"A~ <br /> ARTICLE THREE <br /> PAYING AGENT <br /> Section 3.01. Duties of pavinq Aqent. <br /> (a) Ameritrust, as Paying Agent and on behalf of the <br /> Issuer, shall pay to the Owne r, at the Stated Maturity or prior <br /> redemption and upon the surrender of the Obligation or Obligations <br /> so maturing at the Ameritrust Office, the principal amount of the <br /> Obligation or obligations then maturing or being redeemed, provided <br /> that Ameritrust shall have been provided by or on behalf of the <br /> Issuer adequate funds to make such payment. <br /> (b) Ameritrust, as Paying Agent and on behalf of the <br /> Issuer, shall pay when due interest on the Obligation or <br /> Obligations, such payment to be made by computing the amount of <br /> interest to be paid each Owner, preparing the checks and mailing the <br /> checks on the payment date, to the Owners of the Obligations (or <br /> their Predecessor Obligations) on the Record Date, addressed to <br /> their address appearing on the Register on the Record Date, provided <br /> that Ameritrust shall have been provided by or on behalf of the <br /> Issuer adequate funds to make such payment. <br /> Section 3.02. Payment Dates. ~ <br /> The Issuer hereby instructs Ameritrust to pay the principal of <br /> and interest on the Obligations at the dates specified in the Bond <br /> Resolution. <br /> ARTICLE FOUR <br /> REGISTRAR <br /> Section 4.01. Transfer and Exchanqe. <br /> , <br /> (a) The Issuer shall keep the Register at the Ameritrust <br /> Office, and subject to such reasonable written regulations as the <br /> Issuer may prescribe, which regulations shall be furnished to <br /> Ameritrust herewith or subsequent hereto by Issuer Order, the Issuer <br /> shall provide for the registration and transfer of the Obligations. <br /> Ameritrust is hereby appointed "Registrar" for the purpose of <br /> registering and transferring the Obligations as herein provided. <br /> Ameritrust agrees to maintain the Register while it is the Registrar. <br /> (b) The Registrar hereby agrees that at any time while any <br /> Obligation is outstanding an Owner may deliver such Obligation to <br /> the Registrar for transfer or exchange, accompanied by instructions <br /> from the Owner, or the duly authorized designee of the Owner, <br /> designating the persons, the maturities and the principal amounts to <br /> and in which such Obligation is to be transferred and the addresses <br /> 4418f <br /> -4- <br />