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The County and the Bond Registrar may treat the Registered Owner of any <br />Bond as the absolute owner thereof for all purposes, whether or not such Bond <br />shall be overdue, and shall not be bound by any notice to the contrary. <br />SECTION 11. DISPOSITION OF BONDS PAID OR REPLACED. Whenever any Bond <br />shall be delivered to the -Bond Registrar for payment of the principal amount <br />thereof upon maturity or redemption, or for replacement, transfer or exchange, <br />such Bond shall be canceled and destroyed by the Bond Registrar, and counterparts <br />of a certificate of destruction evidencing such destruction shall be furnished <br />to the County. <br />SECTION 12. BONDS MUTILATED, DESTROYED, STOLEN OR LOST. In case any Bond <br />shall become mutilated, or be destroyed, stolen or lost, the County may, in its <br />discretion, issue and deliver a new Bond of like tenor as the Bond so mutilated, <br />destroyed, stolen or lost, in exchange for and cancellation of such mutilated <br />Bond or in lieu of and substitution for the Bond destroyed, 'stolen or lost, upon <br />the Registered Owner furnishing the County and the Bond Registrar proof of his <br />ownership thereof and the loss thereof (if lost, stolen or destroyed) and <br />satisfactory indemnity and complying with such other reasonable regulations and <br />conditions as the Board may prescribe and paying such expenses as the Board and <br />the Bond Registrar may incur. All Bonds so surrendered shall be canceled by the <br />Bond Registrar. If any such Bonds shall have matured or be about to mature, <br />instead of issuing a substitute Bond, the County may pay the same, upon being <br />indemnified as aforesaid, and if such Bond be lost, stolen or destroyed, without <br />surrender thereof. <br />Any such duplicate Bonds issued pursuant to this section shall constitute <br />original, additional, contractual obligations on the part of the County whether <br />or not the lost, stolen or destroyed Bonds be at any time found by anyone, and <br />such duplicate Bonds shall be entitled to equal and proportionate benefits and <br />rights as to lien on and source and security for payment from the funds, as <br />hereinafter pledged, to the same extent as all other Bonds issued hereunder. <br />SECTION 13. PROVISIONS FOR REDEMPTION. The Bonds or any portions thereof <br />shall be subject to redemption prior to their respective stated dates of <br />maturity, at the option of the County or otherwise, at such times and in such <br />manner as shall be determined by subsequent resolution adopted prior to the sale <br />thereof. <br />Except as specifically prohibited or otherwise provided by subsequent <br />resolution with respect to a particular series of Bonds, in lieu of any mandatory <br />redemption of Term Bonds, the County may purchase from money in the Sinking Fund <br />or the Bond Amortization Account or other available funds of the County, at a <br />price not to exceed the principal amount thereof plus accrued interest, and <br />tender to the Paying Agent for cancellation Term Bonds of the appropriate series <br />and maturity. The amount of the Term Bonds of such series and maturity to be so <br />called for redemption on the next mandatory redemption date shall be reduced by <br />the principal amount of Term Bonds so purchased and tendered and, if the <br />principal amount thereof is greater than the amount required to be redeemed on <br />the next mandatory redemption date, the excess may be credited against subsequent <br />mandatory redemptions in such manner as the County may direct. <br />Notice of such redemption shall, not more than forty-five (45) days and not <br />less than thirty (30) days prior to the redemption date, (i) be filed with the <br />Bond Registrar and Paying Agent, and (ii) be mailed, postage prepaid, to all <br />Registered Owners of Bonds to be redeemed at their addresses as they appear of <br />10 <br />