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10 <br />The County shall give notice of redemption by certified or registered mail to DTC <br />or its nominee as the registered owner of the Bonds. The County shall mail such notice <br />not more than 60 days and not less than 30 days prior to the date fixed for redemption. <br />The County is not responsible far sending notices of redemption to anyone other than <br />DTC or its nominee. <br />If (a) DTC determines not to continue to act as securities depository for the Bonds <br />or (b) the County so elects, the County will discontinue the book-entry system with DTC. <br />If the County fails to identify another qualified securities depository to replace DTC, the <br />County shall deliver replacement Bonds in the form of fully-registered certificates. <br />The County Finance Officer has been appointed Registrar for the Bonds. As <br />Registrar, the Finance Officer shall maintain appropriate books and records indicating <br />ownership of the Bonds. The County shall treat the registered owner of this Band as the <br />person exclusively entitled to payment of principal, premium, if any, and interest and the <br />exercise of all other rights and powers of the owner, except that interest payments shall <br />be made to the person shown as owner on the County's registration books on the 15th day <br />of the month preceding each interest payment date. <br />All acts, conditions and things required by the Constitutian and laws of the State <br />of North Carolina to happen, exist or be performed precedent to and in the issuance of <br />this Bond have happened, exist and have been performed, and the issue of Bonds of <br />which this Bond is one, together will all other indebtedness of the County, is within every <br />debt and other limit prescribed by the Constitution and laws of the State of North <br />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 the <br />Clerk to such Board, its seal to be impressed hereon and this Bond to be dated April 1, <br />2000. <br />COUNTERSIGNED: (SEAL) <br />jSam~le only - do not sienl <br />Clerk, Board of <br />Commissioners, Orange <br />County, North Carolina <br />f Sample only - do not si~nl <br />Chair, Board of Commissioners, <br />Orange County, North Carolina <br />The Bonds have been approved by the North Carolina Local Government <br />Commission in accordance with the Local Government Bond Act. <br />s/Robert M. High <br />Secretary, Local Government Commission <br />