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hereinafter defined, on the Maturity Date specified above, the Principal Amount <br />specified above, unless this Special Assessment Revenue Bond, Series 1989 <br />"Bond") shall be redeemable and duly have (the <br />shall been called for earlier <br />redemption and payment of the redemption price shall have been made or provided <br />for, and to pay, solely from such Pledged Funds, semiannually on and <br />specified <br />each year, beginning , interest on the Principal Amount <br />specified above, at the Rate of Interest specified above, per annum, until such <br />Principal Amount is paid in full. Interest on this Bond shall be payable from <br />the interest payment date next preceding the date of registration and <br />authentication of this Bond, unless: <br />and <br />authenticated as of an interest payment date) in wwhich is n vent th sd isistered Bond shall <br />bear interest from such interest payment date; or (b) this Bond is registered <br />and authenticated after a Record Date (hereinafter defined) and before the next <br />succeeding interest payment date, in which event this Bond shall bear interest <br />from such interest payment date; or (c) this Bond is registered and <br />authenticated on or prior to the Record Date first preceding <br />in which event this Bond shall bear interest from <br />shown by the records of the Paying Agent (hereinafter fined), interest on <br />dethis <br />Bond is in default, in which event this Bond shall bear interest from the date <br />on which interest was last paid on this Bond. The Principal Amount hereof, <br />together with any applicable redemption premium with respect thereto, shall be <br />payable, when due upon maturity or earlier redemption, upon presentation and <br />surrender of this Bond at the principal corporate trust office of <br />(the "Paying Agent"), , Florida, as Paying Agent. Interest <br />hereon shall be paid, when due, by check mailed to the Registered Owner whose <br />name and address shall appear, at 5:00 P.M. prevailing local time at the <br />location of the Bond Registrar (hereinafter defined) on the fifteenth (15th) day <br />of the month next preceding each interest payment date (the "Record Date"), on <br />the registration books maintained by (the "Bond Registrar"), <br />Florida, as Bond Registrar, irrespective of any transfer or <br />exchange of this Bond subsequent to such Record Date and prior to such interest <br />payment date, unless the County shall be in default in payment of interest due <br />on such interest payment date. In the event of any such default, such defaulted <br />interest shall be payable to the person in whose name this Bond is registered <br />on such registration books at 5:00 P.M, prevailing local time at the location <br />of the Bond Registrar on a special record date for the payment of such defaulted <br />interest established by notice mailed by the Paying Agent to the Registered <br />Owner of this Bond not less than fifteen (15) days preceding such special record <br />date. Such notice shall be mailed to the persons in whose names the Bonds are <br />registered at the close of business of the Bond Registrar on the fifth (5th) day <br />preceding the date of mailing. The principal of, premium, if any, and interest <br />on this Bond are payable in lawful money of the United States of America. <br />This Bond is one of the revenue bonds authorized by the County under <br />the authority of and in full compliance with the Constitution and laws of the <br />State of Florida, including particularly Chapter 125, Florida Statues (1988), <br />Ordinance No. 86-88 and Resolution No. <br />of the County, and other <br />- 9 - <br />