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<br />In all cases in which Bonds shall be exchanged or the transfer of Bonds shall be <br /> <br />registered hereunder, the Bond Registrar shall authenticate and deliver at the earliest practicable <br /> <br />time Bonds in accordance with the provisions of this resolution. All Bonds surrendered in any <br /> <br />such exchange or registration of transfer shall forthwith be cancelled by the Bond Registrar. The <br /> <br />County or the Bond Registrar may make a charge for every such exchange or registration of <br /> <br />transfer of Bonds sufficient to reimburse it for shipping charges, out-of-pocket costs and any tax, <br /> <br />fee or other govermnental charge required to be paid with respect to such exchange or <br /> <br />registration of transfer, but no other charge shall be made by the County or the Bond Registrar <br /> <br />for exchanging or registering the transfer of Bonds under this resolution. The Bond Registrar <br /> <br />shall not be required to exchange or register the transfer of any Bond during a period beginning <br /> <br />at the opening of business 15 days before the day of the mailing of a notice of redemption of <br /> <br />Bonds or any portion thereof and ending at the close of business on the day of such mailing or of <br /> <br />any Bond called for redemption in whole or in part pursuant to Section 7 of this resolution. <br /> <br />As to any Bond, the person in whose name the same shall be registered shall be deemed <br /> <br />and regarded as the absolute owner thereof for all purposes, and payment of or on account of the <br /> <br />principal or redemption price of any such Bond and the interest on any such Bond shall be made <br /> <br />only to or upon the order of the registered owner thereof or his legal representative. All such <br /> <br />payments shall be valid and effectual to satisfy and discharge the liability upon such Bond, <br /> <br />including the redemption premium, if any, and interest thereon, to the extent of the sum or sums <br /> <br />so paid. <br /> <br />The County shall appoint such registrars, transfer agents, depositaries or other agents as <br /> <br />may be necessary for the registration, registration of transfer and exchange of Bonds within a <br /> <br />reasonable time according to then current commercial standards and for the timely payment of <br /> <br />21 <br /> <br />F-5 <br />