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option of the registered owner thereof, be exchanged for an equal <br /> aggregate principal amount of Bonds of the same maturity, of any <br /> denomination or denominations authorized by this resolution and <br /> bearing interest at the same rate. <br /> The transfer of any Bond may be registered only upon the <br /> registration books of the Issuer upon the surrender thereof to the <br /> Bond Registrar together with an assignment duly executed by the <br /> registered owner or his attorney or legal representative in such <br /> form as shall be satisfactory to the Bond Registrar. Upon any such <br /> registration of transfer, the Bond Registrar shall authenticate and <br /> deliver in exchange for such Bond a new Bond or Bonds, registered <br /> in the name of the transferee, of any denomination or denominations <br /> authorized by this resolution, in an aggregate principal amount <br /> equal to the unredeemed principal amount of such Bond so <br /> surrendered, of the same maturity and bearing interest at the same <br /> rate. <br /> In all cases in which Bonds shall be exchanged or the transfer <br /> of Bonds shall be registered hereunder, the Bond Registrar shall <br /> authenticate and deliver at the earliest practicable time Bonds in <br /> accordance with the provisions of this resolution. All Bonds <br /> surrendered in any such exchange or registration of transfer shall <br /> forthwith be cancelled by the Bond Registrar. The Issuer or the <br /> Bond Registrar may make a charge for shipping and out-of-pocket <br /> costs for every such exchange or registration of transfer of Bonds <br /> sufficient to reimburse it for any tax or other governmental charge <br /> 19 <br />