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a~ <br />is used for determining beneficial ownership of Bonds, if less than all of the Bonds <br />within a maturity are to be redeemed, DTC and its participants will determine <br />which of the Bonds within any such maturity are to be redeemed, If a portion of a <br />Bond is called for redemption, a new Bond in principal amount equal to the <br />unredeemed portion thereof will be issued to the registered owner upon the <br />surrender thereof: <br />The County will give notice of redemption by certified or registered mail to <br />DTC or its nominee as the registered owner of the Bonds. The County will mail <br />such notice not more than 60 days and not less than 30 days prior to the date fixed <br />for redemption. The County is not responsible for sending notices of redemption to <br />anyone other than DTC or its nominee. <br />If (a) DTC determines not to continue to act as securities depository for the <br />Bonds or (b) the County so elects, the County will discontinue the book-entry <br />system with DTC. If the County fails to identify another qualified securities <br />depository to replace DTC, the County will deliver replacement Bonds in the form <br />of fully-registered certificates, <br />The County Finance Officer has been appointed Registrar for the Bonds. As <br />Registrar, the Finance Officer will maintain appropriate books and records <br />indicating ownership of the Bonds, The County will treat the registered owner of <br />this Bond as the person exclusively entitled to payment of principal, prenuum, if <br />any, and interest and the exercise of all other rights and powers of the owner, <br />except that interest payments will be made to the person shown as owner on the <br />County's registration books on the 15th day of the month preceding each interest <br />payment date. <br />All acts, conditions and things required by the Constitution and laws of the <br />State of North Carolina to happen, exist or be performed precedent to and in the <br />issuance of this Bond have happened, exist and have been performed, and the issue <br />of Bonds of which this Bond is one, together will all other indebtedness of tYie <br />County, is within every debt and other limit prescribed by the Constitution and <br />laws of the State of North Carolina. <br />IN WITNESS WHEREOF, Orange County, North Carolina, has caused this <br />Bond to signed by the Chair of its Board of Commissioners, to be countersigned by <br />Orange 04 GO bond resolution BR <br />