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without consideration of any reinvestment thereof, sufficient to pay or redeem (when <br /> redeemable) and discharge the indebtedness on all Bonds of all series outstanding under the <br /> Bond Indenture at or before their respective maturity dates. The Bonds are also subject to <br /> advance defeasance of the Bond Indenture by depositing with the Bond Trustee cash, noncallable <br /> U.S. Government Obligations or both in an amount, without consideration of any income or <br /> increment to accrue thereon, sufficient to pay or redeem (when redeemable) and discharge the <br /> indebtedness on all Bonds of all series outstanding under the Bond Indenture at or before their <br /> respective maturity dates, it being understood that the investment income on such cash or <br /> noncallable U.S. Government Obligations may be used for any other purpose under the Act. <br /> Upon such payment or provision therefor, together with all other payments required under the <br /> Bond Indenture, the Bond Indenture may be discharged in accordance with the provisions <br /> thereof, but the City shall remain the obligor on all Bonds although the owners thereof and the <br /> owner hereof shall be entitled to payment solely out of such cash and funds received from such <br /> U.S. Government Obligations deposited with the Bond Trustee. <br /> The City may also pay or provide for the payment of the entire indebtedness on a portion <br /> of the Bonds by depositing with the Bond Trustee cash, noncallable U.S. Government <br /> Obligations or both in an amount, together with the income or increment to accrue thereon, but <br /> without consideration of any reinvestment thereof, sufficient to pay or redeem (when <br /> redeemable) and discharge the indebtedness on such portion of the Bonds; or depositing with the <br /> Bond Trustee cash, noncallable U.S. Government Obligations or both in an amount, without <br /> consideration of any income or increment to accrue thereon, sufficient to pay or redeem (when <br /> redeemable) and discharge the indebtedness on such portion of the Bonds, it being understood <br /> that the investment income on such U.S. Government Obligations may be used for any other <br /> purpose under the Act. Upon such deposit, such portion of the Bonds shall cease to be entitled to <br /> any lien, benefit or security under the Bond Indenture. The City shall remain the obligor on such <br /> portion of the Bonds, but the owners thereof shall be entitled to payment (to the exclusion of all <br /> other Bondholders) solely out of such cash and funds received from such U.S. Government <br /> Obligations deposited with the Bond Trustee. <br /> The owner of this Bond shall have no right to enforce the provisions of the Bond <br /> Indenture or to institute action to enforce the covenants therein, or to take any action with respect <br /> to any event of default under the Bond Indenture, or to institute, appear in or defend any suit or <br /> other proceedings with respect thereto, except as provided in the Bond Indenture. <br /> In certain events, on the conditions, in the manner and with the effect set forth in the <br /> Bond Indenture, the principal of all Bonds of all series issued under the Bond Indenture and then <br /> outstanding may become or may be declared due and payable before the stated maturity thereof, <br /> together with interest accrued thereon. <br /> Modifications or alterations of the Bond Indenture, or of any supplements thereto, may be <br /> made only to the extent and in the circumstances permitted by the Bond Indenture. <br /> It is hereby certified that all conditions, acts and things required to exist, happen and be <br /> performed under the Act and under the Bond Indenture precedent to and in the issuance of this <br /> Bond, exist, have happened and have been performed, and that the issuance, authentication and <br /> delivery of this Bond have been duly authorized by resolution of the City duly adopted. <br /> 18 <br />