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194 <br /> <br />DRAFT <br /> <br />the redemption date, upon surrender of such Bond, a new Bond or Bonds in <br />principal amount equal to the unredeemed portion of such Bond will be issued. <br /> If any Bonds or portions thereof are to be redeemed, the Bond Registrar <br />shall open a separate account for the sole benefit of the bondholders whose Bonds <br />are being redeemed, which account may be maintained by the Bond Registrar or by <br />an agent. On or before the date fixed for redemption, moneys shall be deposited <br />with the Bond Registrar in its capacity as such for deposit in such account to <br />pay the principal of and the redemption premium, if any, on the Bonds or portions <br />thereof called for redemption as well as the interest accruing thereon to the <br />redemption date thereof. <br /> On the date fixed for redemption, notice having been given in the manner <br />and under the conditions hereinahove provided, the Bonds or portions thereof <br />called for redemption shall be due and payable at the redemption price provided <br />therefor, plus accrued interest to such date. If moneys sufficient to pay the <br />redemption price of the Bonds or portions thereof to be redeemed, plus accrued <br />interest thereon to the date fixed for redemption, have been deposited by the <br />Issuer to be held in trust for the registered owners of Bonds or portions thereof <br />to be redeemed, interest on the Bonds or portions thereof called for redemption <br />shall cease to accrue, such Bonds or portions thereof shall cease to be entitled <br />to any benefits or security under this resolution or to be deemed outstanding, <br />and the registered owners of such Bonds or portions thereof shall have no rights <br />in respect thereof except to receive payment of the redemption price thereof, <br />plus accrued interest to the date of redemption. <br /> If a portion of a Bond shall be selected for redemption, the registered <br />owner thereof or his attorney or legal representative shall present and surrender <br />such Bond to the Bond Registrar for payment of the principal amount thereof so <br />called for redemption and the redemption premium, if any, on such principal <br />amount, and the Bond Registrar shall authenticate and deliver to or upon the <br />order of such registered owner or his legal representative, without charge <br />therefor, for the unredeemed portion of the principal amount of the Bond so <br />surrendered, a Bond or Bonds of the same maturity, of any denomination or <br />denominations authorized by this resolution and bearing interest at the same <br />rate. <br /> Section 5. Bonds, upon surrender thereof at the office of the Bond <br />Registrar together with an assignment duly executed by the registered owner or <br />his attorney or legal representative in such form as shall be satisfactory to the <br />Bond Registrar, may, at the option of the registered owner thereof, be exchanged <br />for an equal aggregate principal amount of Bonds of the same maturity, of any <br />denomination or denominations authorized by this resolution and bearing interest <br />at the same rate. <br /> Section 6. The provisions of this Section relating to the exchange and <br />transfer of Bonds are subject to the provisions for operation of the book-entry <br />system provided in Section 2 of this resolution, including the immobilization of <br />Bond certificates with a Securities Depository during the continuation of the <br />book-entry system. Bonds, upon surrender thereof at the office of the Bond <br />Registrar together with an assignment duly executed by the registered owner or <br />his attorney or legal representative in such form as shall be satisfactory to the <br />Bond Registrar, may, at the option of the registered owner thereof, be exchanged <br />for an equal aggregate principal amount of Bonds of the same maturity, of any <br />denomination or denominations authorized by this resolution and bearing interest <br />at the same rate. <br /> The transfer of any Bond may be registered only upon the registration books <br />of the Issuer upon the surrender thereof to the Bond Registrar together with an <br />assignment duly executed by the registered owner or his attorney or legal <br />representative in such form as shall be satisfactory to the Bond Registrar. Upon <br />any such registration of transfer, the Bond Registrar shall authenticate and <br />deliver in exchange for such Bond a new Bond or Bonds, registered In the name of <br />the transferee, of any denomination or denominations authorized by this <br />resolution, in an aggregate principal amount equal to the unredeemed <br />prineipalamount of such Bond so surrendered, of the same maturity and bearing <br />interest at the same rate. <br /> In all cases in which Bonds shall be exchanged cr the transfer of Bonds <br />shall be registered hereunder, the Bond Registrar shall authenticate and deliver <br />at the earliest practicable time Bonds in accordance with the provisions of this <br />resolution. All Bonds surrendered in any such exchange or registration of <br />transfer shall forthwith be cancelled by the Bond Registrar. The Issuer or the <br />Bond Registrar may make a charge for every such exchange or registration of <br />transfer of Bonds sufficient to reimburse it for shipping charges, out-of-pocket <br />costs and any tax, fee or other governmental charge required to be paid with <br />respect to such exchange or registration of transfer, but no other charge shall <br />be made by the Issuer or the Bond Registrar for exchanging or registering the <br /> <br /> <br />