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that such Notes shall be and have all of the qualities and incidents <br /> of negotiable instruments under the law merchant and the Laws of <br /> the State of Florida. <br /> The Notes may be registered at the option of the holder <br /> as to principal and interest at the office of the Clerk of the Board, <br /> as Registrar, or such other Registrar as may be hereafter duly <br /> appointed, such registration to be noted on the back of the Notes <br /> in the space provided therefor. After such registration as to <br /> principal and interest, no transfer of theNotesshall be valid <br /> unless made at such office by written assignment of the registered <br /> owner, or by his duly authorized attorney, in a form satisfactory <br /> to the Registrar, and similarly noted on the Notes , but the Notes <br /> may be discharged from registration by being in like manner trans- <br /> ferred to bearer form and thereupon transferability by delivery <br /> shall be restored. At the option of the holder, the Notes may <br /> thereafter again from time to time be registered or transferred to <br /> bearer form as before. <br /> SECTION 10. FORM OF NOTES. The text of the Notes shall be <br /> in substantially the following form and tenor, with such variations , <br /> omissions and insertions as may be necessary, desirable and author- <br /> ized or permitted by this resolution or any subsequent resolution <br /> adopted prior to the issuance thereof: <br /> -4- <br />