Orange County NC Website
indemnity is furnished as provided above in the case of a lost, stolen or <br />destroyed Certificate. <br />(d) The Trustee will charge the O«uer of such Certificate ti~rith all <br />expenses in connection uTith the issuance of any substitute Certificate. Every <br />substitute Certificate issued pursuant to the provisions of this Section because <br />any Certificate is lost, stolen or destroyed, whether or not the lost, stolen or <br />destroyed Certificate may be found at any time, ar may be enforceable by <br />anyone, ~~Till be entitled to all the benefits of this Trust Agreement equally and <br />proportionally with any and all other Certificates duly executed and delivered <br />hereunder. <br />Section 2.06. Cancellation. Whenever a. Certificate is delivered to the <br />Trustee for cancellation (upon payment, prepayment or otherwise} or for transfer, <br />exchange ar replacement, the Trustee urill promptly destroy the Certificate and <br />deliver a written certificate of such destruction to the County. <br />Section 2.07. Temporary Certificates. Prior to the preparation of <br />Certificates in definitive farm the Company may execute, and the Trustee may <br />authenticate and deliver, temporary Certificates in such denominations as the <br />County may determine, but otherwise in substantially the form set forth in Exhibit. <br />B, with appropriate variations, omissions and insertions. The Company will <br />promptly prepare, execute and deliver to the Trustee before the first Certificate <br />Payment Date for such Certificates in definitive form and thereupon, upon <br />surrender of Certificates in temporary farm, the Trustee will authenticate and <br />deliver in exchange therefor Certificates in defintive farm of the same maturity <br />having an equal aggregate principal amount. Until exchanged for Certificates in <br />definitive form, Certificates in temporary form will be entitled to the lien and <br />benefit of this Trust Agreement. <br />Section 2.08. Non-Presentment of Certificates. (a) If any Certificate <br />is not presented for payment when the principal with respect to the same becomes <br />due (whether at maturity, upon acceleration or call for prepayment or otherv~~•ise}, <br />all liability to the Owner thereof for the payment of such Certificate will be <br />completely discharged if funds sufficient to pa~J such Certificate and the premium, <br />if any, and interest due with respect thereto are held by the Trustee for such <br />Owner's benefit, and thereupon it will be the Trustee's duty to bald such funds <br />subject to subsection (b) belo~T, without liability for interest thereon, for the benefit <br />of such Owner, ti~rho will thereafter be restricted exclusively to such funds far any <br />claim of ~~rhatever nature under this Trust Agreement with respect to such <br />Certificate. <br />J3862v2 g <br />