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The Note may be registered at the option of the holder <br />as to principal. and interest at the office of the Clerk of the <br />® Board, as Registrar, or such other Registrar as may be hereafter <br />duly appointed, such registration to be noted on the back of. the <br />Note in the space provided therefor. After such registration as <br />to principal and interest, no transfer of the Note shall 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 Note, but the [dote may <br />be discharged from registration by being in like manner transferred <br />to bearer form and thereupon transferability by delivery shall <br />be restored. At the option of the holder, the Note may thereafter <br />again from time to time be registered or transferred to bearer <br />form as before. <br />SECTION 10. FORM OF NOTE. The test of the Note shall <br />be in substantially the following form and tenor, with such variations, <br />omissions and insertions as may be necessary, desirable and authorized <br />or permitted by this resolution or any subsequent resolution adopted <br />prior to the issuance thereof: <br />4 <br />-4- <br />