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<br />The principal of and premium, if any, on any Bond shall be payable to the <br />Registered Owner thereof as shown on the registration records kept by the Registrar at the <br />Principal Operations Office, upon maturity thereof and upon presentation and surrender at the <br />Principal Operations Office of the Paying Agent. If any Bond shall not be paid upon such <br />presentation and surrender at or after maturity, it shall continue to draw interest at the same <br />interest rate borne by said Bond until the principal thereof is paid in full. Payment of interest on <br />any Bond shall be made by check or draft mailed by the Paying Agent, on or before each interest <br />payment date (or, if such interest payment date is not a Business Day, on or before the next <br />succeeding Business Day), to the Registered Owner thereof at the address shown on the <br />registration records kept by the Registrar at the close of business on the Record Date for such <br />interest payment date; but any such interest not so timely paid shall cease to be payable to the <br />person who is the Registered Owner thereof at the close of business on the Record Date and shall <br />be payable to the person who is the Registered Owner thereof at the close of business on a <br />Special Record Date for the payment of any such defaulted interest. Such Special Record Date <br />and the interest payment date for such interest shall be fixed by the Registrar whenever moneys <br />become available at the Paying Agent for payment of the defaulted interest. <br /> <br />Notice of the Special Record Date and the interest payment date for the defaulted <br />interest shall be given to the Registered Owners of the Bonds on a date selected by the Registrar, <br />not less than ten days prior to the Special Record Date, by first-class mail to each such <br />Registered Owner as shown on the Registrar's registration records stating the date of the Special <br />Record Date and the date fixed for the payment of the defaulted interest. The Paying Agent may <br />make payments of interest on any Bond by such alternative means as may be mutually agreed to <br />between the Owner of such Bond and the Paying Agent (provided, however, that the City shall <br />not be required to make funds available to the Paying Agent prior to the interest payment dates <br />stated in the Registrar and Paying Agent Agreement). All such payments shall be made in lawful <br />money of the United States of America without deduction for the services of the Paying Agent or <br />Registrar. <br /> <br />Section 6. <br />their maturities. <br /> <br />Prior Redemption. The Bonds are subject to redemption prior to <br /> <br />8 <br />