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i <br />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 the Notes shall be valid <br />j unless made at such office by written assignment of the registered <br />{ <br />owner, or by his duly authorized attorney, in a form satisfactory <br />j <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 />Y 4 1977 <br />•' J1.3 <br />