11-14-01 1. INDENTURE OF TRUST - Laserfiche WebLink

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proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed,first class postage prepaid, to each Holder of a fully registered Bond of such Series at the Holder's address as it appears in the registration records not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the persons in whose names the Bonds of such Series(or their respective Predecessor Bonds)are registered on such Special Record Date and shall no longer be payable pursuant to the following Subsection B. (b) The Trustee may make payment of any Defaulted Interest on the fully registered Bonds of any Series in any other lawful manner,if such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section,each Bond delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Bond shall carry all the rights to interest accrued and unpaid,and to accrue,which were carried by such other Bond and each such Bond shall bear interest from such date that neither gain nor loss in interest shall result from such transfer,exchange or substitution. Section 2.06 Ownership of Bonds. As to any Bond,the City,the Borrower and the Trustee and their respective successors,each in its discretion,may deem and treat the person in whose name the same for the time being shall be registered as the absolute owner thereof for all purposes and neither the City nor the Trustee nor their respective successors shall be affected by any notice to the contrary. Payment of or on account of the principal of any such Bond shall be made only to or upon the order of the registered owner thereof, but such registration may be changed as above provided. All such payments shall be valid and effectual to satisfy and discharge the liability upon such Bond to the extent of the sum or sums so paid. Section 2.07 Reissuance of Mutilated, Destroyed, Stolen or Lost Bonds. In case any outstanding Bond shall become mutilated or be destroyed,stolen or lost,the Trustee shall authenticate and deliver a new Bond of like tenor, number and amount and Series as the Bond so mutilated, destroyed, stolen or lost, in exchange and substitution for such mutilated Bond,upon surrender of such mutilated Bond or in lieu of and substitution for the Bond destroyed, stolen or lost,upon filing with the Trustee evidence satisfactory to the Trustee that such Bond has been destroyed,stolen or lost and upon furnishing the Trustee and the Borrower with indemnity satisfactory to them and complying with such other reasonable regulations as the Trustee and the Borrower may establish and payment of any expenses which the City,the Trustee or the Borrower may incur in connection therewith. In the event any such Bond shall have matured,instead of issuing a substitute Bond,the Trustee may pay the same without surrender thereof. Section 2.08 Conditions for Authentication of Bonds. The Trustee shall not authenticate and deliver Additional Bonds of any Series unless the conditions for the issuance set forth in Section 2.09 have been satisfied, together with any conditions for the issuance thereof contained in the applicable Supplemental Indenture. The Trustee shall not issue and deliver any Series 2001 Bonds pursuant to the Indenture unless theretofore or simultaneously therewith there shall have been delivered to the Trustee the following: (a) Certified copies of the Bond Resolution authorizing the issuance of all Series 2001 Bonds and the execution and delivery of the Loan Agreement and this Indenture,and the acceptance and assignment to the Trustee of the Mortgage and the Subordinate Mortgage. - 23 -