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<br /> (c) Any Bond may be converted and exchanged only upon the <br /> presentation and surrender thereof at the principal corporate office <br /> of the Paying Agent/Registrar, together with a written request <br /> therefor duly executed by the registered owner or assignee or <br /> assignees thereof, or its or their duly authorized attorneys or <br /> representatives, with guarantees of signatures satisfactory to the <br /> Paying Agent/Registrar, for a Bond or Bonds of the same maturity and <br /> interest rate and in any authorized denomination and in an aggregate <br /> principal or maturity amount equal to the unpaid principal or <br /> maturity amount of the Bond presented for exchange. If a portion of <br /> any Bond is redeemed prior to its scheduled maturity as provided <br /> herein, a substitute Bond or Bonds having the same maturity date, <br /> bearing interest at the same rate, in the denomination or <br /> denominations of any integral multiple of $5,000 at the request of <br /> the registered owner, and in an aggregate principal amount equal to <br /> the unredeemed portion thereof, will be issued to the registered <br /> owner upon surrender thereof for cancellation. To the extent <br /> possible, a new Bond or Bonds will be required to be delivered by <br /> the Paying Agent/Registrar to the registered owner of the Bond or <br /> Bonds in not more than three business days after receipt of the Bond <br /> to be exchanged in proper form and with proper instructions <br /> directing such exchange. <br /> (d) Each Bond issued in exchange for any Bond or portion <br /> thereof assigned, transferred or converted shall have the same <br /> principal maturity date and bear interest at the same rate as the <br /> Bond for which it is being exchanged. Each substitute Bond shall <br /> bear a letter and/or number to distinguish it from each other Bond. <br /> The Paying Agent/Registrar shall convert and exchange the Bonds as <br /> provided herein, and each substitute Bond delivered in accordance <br /> with this Section shall constitute an original additional <br /> contractual obligation of the City and shall be entitled to the <br /> benefits and security of this Ordinance to the same extent as the <br /> Bond or Bonds in lieu of which such substitute Bond is delivered. <br /> (e) The City will pay the Paying Agent/Registrar's <br /> reasonable and customary charge for the initial registration or <br /> anysubsequent transfer, exchange or conversion of Bonds, but the <br /> Paying Agent/Registrar will require the Owner to pay a sum <br /> sufficient to cover any tax or other governmental charge that is <br /> authorized to be imposed in connection with the registration, <br /> transfer, exchange or conversion of a Bond. In addition, the City <br /> hereby covenants with the Owners of the Bonds that it will (i) pay <br /> the reasonable and standard or customary fees and charges of the <br /> Paying Agent/Registrar for its services with respect to the payment <br /> of the principal of and interest on the Bonds, when due, and (ii) <br /> pay the fees and charges of the Paying Agent/Registrar for services <br /> with respect to the transfer, registration, conversion and exchange <br /> of Bonds as provided herein. <br /> (f) Neither the City nor the Paying Agent/Registrar shall <br /> be required to issue, transfer or exchange any Bond called for <br /> 4172f <br /> -9- <br />