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The Issuer and the Paying Anent shall not be <br />required to issue or transfer or exchange any Notes then <br />considered for redemption during the period beginning at the <br />close of business on the fifteenth (15th) day next preceding <br />any date of selection of Notes to be redeemed and ending at <br />the close of business on the day of mailing of the <br />applicable notice of redemption or to transfer or exchange <br />any portion of any Note selected for redemption until after <br />the redemption date. <br />As to any Note, the Issuer and the Paying Agent may <br />deern and treat the Person in whose name the same shall be <br />registered as the absolute owner thereof for all purposes, <br />whether such Note shall be overdue or not, and payment of or <br />on account of either principal or interest on any such Note <br />sha I i be made only to or upon the order of the Registered <br />O✓ner thereof or his legal representative, but such <br />registration may be changed, as herein provided. All such <br />payments shall he valid and effectual to satisfy and <br />discharge the liability upon any such Note, to the extent of <br />the SUM or sums so paid, and neither the Issuer nor the <br />Paying Agent shall be affected by any notice to the <br />contrary. <br />The I ssuer sha I I cause to he kept , and the Pay i txj <br />Agent is hereby directed to keep, at the principal corporate <br />trust office of the Paying Agent, books for the registration <br />and transfer of Notes in the manner provided herein and <br />therein, so long as Notes shell rem in Outstanding. Such <br />-15-- <br />