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13 <br /> exchange for this bond a new Bond or Bonds, registered in the name <br /> of the transferee, of authorized denominations, in an aggregate <br /> principal amount equal to the unredeemed principal amount of this <br /> bond, of the same maturity and bearing interest at the same rate. <br /> The Bond Registrar shall not be required to exchange or <br /> register the transfer of any Bond during a period beginning at the <br /> opening of business fifteen (15) days before the day of the mailing <br /> of a notice of redemption of Bonds or any portion thereof and <br /> ending at the close of business on the day of such mailing or of <br /> any Bond called for redemption in whole or in part pursuant to the <br /> Resolution. <br /> It is hereby certified and recited that all acts, conditions <br /> and things required by the Constitution and laws of North Carolina <br /> to happen, exist and be performed precedent to and in the issuance <br /> of this bond have happened, exist and have been performed in <br /> regular and due form and time as so required; that provision has <br /> been made for the levy and collection of a direct annual tax upon <br /> all taxable property within said County sufficient to pay the <br /> principal of and the interest on this bond as the same shall become <br /> due; and that the total indebtedness of said County, including this <br /> bond, does not exceed any constitutional or statutory limitation <br /> thereon. <br /> This bond shall not be valid or become obligatory for any <br /> purpose or be entitled to any benefit or security under the <br /> Resolution until this bond shall have been authenticated by the <br /> 12 <br />