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<br /> Section 5.03. Maintaininq Payinq Aqent/Reqistrar. <br /> <br /> (a) At all times while any Bonds are outstanding, the City <br /> will maintain a Paying Agent/Registrar that is qualified under <br /> Section 5.02 of this Ordinance. <br /> (b) If the Paying Agent/Registrar resigns or otherwise <br /> ceases to serve as such, the City will promptly appoint a <br /> replacement. <br /> (c) The execution and delivery of a Paying Agent/Registrar <br /> Agreement, in form and content as set forth in Exhibit A attached <br /> hereto, specifying the duties and responsibilities of the City and <br /> the Paying Agent/ Registrar, is hereby approved with such changes as <br /> may be approved by the Mayor of the City, and the Mayor of said City <br /> is hereby authorized to execute such agreement. <br /> Section 5.04. Termination. <br /> The City reserves the right to terminate the appointment of <br /> any Paying Agent/Registrar by delivering to the entity whose <br /> appointment is to be terminated a certified copy of a resolution of <br /> the City (i) giving notice of the termination of the appointment and <br /> of the Paying Agent/Registrar Agreement, stating the effective date <br /> of such termination, and (ii) appointing a successor Paying <br /> Agent/Registrar. <br /> Section 5.05. Notice of Chanqe to Holders. <br /> <br /> Promptly upon each change in the entity serving as Paying <br /> Agent/Registrar, the City will cause notice of the change to be sent <br /> to each Holder by first class United States mail, postage prepaid, <br /> at the address in the Register, stating the effective date of the <br /> change and the name and mailing address of the replacement Paying <br /> Agent/Registrar. <br /> Section 5.06. Aqreement to Perform Duties and Functions. <br /> <br /> By accepting the appointment as Paying Agent/Registrar, the <br /> Paying Agent/Registrar is deemed to have agreed to the provisions of <br /> this Ordinance and that it will perform the duties and functions of <br /> Paying Agent/Registrar prescribed hereby. <br /> Section 5.07. Delivery of Records to Successor. <br /> If a Paying Agent/Registrar is replaced, such Paying <br /> Agent/Registrar, promptly upon the appointment of the successor, <br /> will deliver the Register (or a copy thereof) and all other <br /> pertinent books and records relating to the Bonds to the successor <br /> Paying Agent/Registrar. <br /> 4177f <br /> -14- <br />