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insert the date of registration of, and deliver the Certificates <br />which the Holder making the exchange is entitled to receive. <br /> <br /> All Certificates surrendered upon any exchange or <br />transfer provided for in this resolution shall be promptly <br />cancelled by the Certificate Registrar and thereafter disposed of <br />as directed by the City. <br /> <br /> Ail Certificates delivered in exchange for or upon <br />transfer of Certificates shall be valid general obligations of <br />the City evidencin~ the same debt, and entitled to the same <br />benefits under this resolution, as the Certificates surrendered <br />for such exchange or transfer. <br /> <br /> Every Certificate presented or surrendered for transfer <br />or exchange shall be duly endorsed or be accompanied by ~ written <br />instrument of transfer, in form satisfactory to the Certificate <br />Registrar, duly executed by the Holder thereof or his, her or its <br />attorney duly authorized in writing. <br /> <br /> The Certificate Registrar may require payment of a sum <br />sufficient to cover any tax or other governmental charge payable <br />in connection with the transfer or exchange of any Certificate <br />and any legal or unusual costs regarding transfers and lost <br />Certificates. <br /> <br /> Transfers shall also be subject to reasonable <br />regulations of the City contained in any agreement with the <br />Certificate Registrar {if other than the City), including <br />regulations which permit the Certificate Registrar to close its <br />transfer books between record dates and payment dates. <br /> <br /> 11. Riqh~s Upon Transfer o~.Exchang~. Each <br />Certificate delivered upon transfer of or in exchange for or in <br />lieu of any other Certificate shall carry all the rights to <br />interest accrued and unpaid, and to accrue, which were carried by <br />such other Certificate. <br /> <br /> 12. ~nterest Pavmen~ Record Da~e. Interest on any <br />Certificate shall be paid on each Interest Payment Date by check <br />or draft mailed to the person in whose name the Certificate is <br />registered (the "Holder") on the registration books of the City <br />maintained by the Certificate Registrar and at the address <br />appearing thereon at the close of business on the fifteenth <br />(15th) day of the calendar month next preceding such Interest <br />Payment Date (the "Regular Record Date"). Any such interest not <br />so timely paid shall cease to be payable to the person who is the <br />Holder thereof as of the Regular Record Date, and shall be <br />payable to the person who is the Holder thereof at the close of <br />business on a date (the "Special Record Date") fixed by the <br />Certificate Registrar whenever money becomes available for <br />payment of the defaulted interest. Notice of the Special Record <br /> <br />1146~6.1 15 <br /> <br /> <br />