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Upon surrender to the Bond Registrar for transfer or exchange of any <br />Bond accompanied by an assignment or written authorization for exchange, <br />whichever is applicable, duly executed by the Registered Owner or his attorney <br />duly authorized in writing, the Bond Registrar shall deliver in the name of the <br />Registered Owner or the designated transferee or transferees, as the case may be, <br />a new fully registered Bond or Bonds of authorized denominations and of the same <br />maturity and interest rate, in an aggregate principal amount equal to the <br />principal amount that remains outstanding with respect to such Band so <br />surrendered. <br />The Bond Registrar or the Board may require payment from the <br />Registered Owner or his transferee of a sum sufficient to cover any tax, fee or <br />other governmental charge that may be imposed in connection with any transfer or <br />exchange of the Bonds. Such charges and expenses shall be paid before any such <br />new Bond shall be delivered. <br />Interest on the Bonds shall be paid to the Registered Owner whose name <br />appears on the books of the Bond Registrar as of 5:00 P.M. local time at the <br />location of the Bond Registrar on the Record Date, <br />New Bonds delivered upon any transfer or exchange shall be valid <br />obligations of the County, evidencing the same debt as the Bonds surrendered, <br />shall be secured by this Resolution, and shall be entitled to all of the security <br />and benefits hereof to the same extent as the Bonds surrendered. <br />The County and the Bond Registrar may treat the Registered Owner of <br />any 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 10. 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 cancelled and destroyed by the Bond Registrar, and <br />counterparts of a certificate of destruction evidencing such destruction shall be <br />furnished to the County. <br />SECTION 11. BONDS MUTILATED, DESTROYED, STOLEN OR LOST. In case any <br />Bond shall become mutilated, or be destroyed, stolen or lost, the County may, in <br />its discretion, issue and deliver a new Bond of like tenor as the Bond so <br />mutilated, destroyed, stolen or lost, in exchange for and cancellation of such <br />mutilated Bond or in lieu of and substitution for the Bond destroyed, stolen or <br />lost, upon the Registered Owner furnishing the County and the Bond Registrar <br />proof of his ownership thereof and the loss thereof (if lost, stolen or <br />destroyed) and satisfactory indemnity and complying with such other reasonable <br />regulations and conditions as the Board may prescribe and paying such expenses as <br />the Board and the Bond Registrar may incur. All Bonds so surrendered shall be <br />cancelled by the Bond Registrar. If any such Bonds shall have matured or be <br />about to mature, instead of issuing a substitute Bond, the County may pay the <br />same, upon being indemnified as aforesaid, and if such Bond be lost, stolen or <br />destroyed, without surrender thereof, <br />Any such duplicate Bonds issued pursuant to this section shall <br />