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therein specified, and from and after such date (unless the City shall default in the payment of the <br /> redemption price) such Note or portion of the Note shall cease to bear interest. <br /> Notice having been properly given, failure of a registered Noteholder to receive such <br /> notice shall not be deemed to invalidate, limit or delay the effect of the notice or the redemption <br /> action described in the notice. Such notice may be waived in writing by a registered owner of the <br /> Note, either before or after the event, and such waiver shall be the equivalent of such notice. <br /> Waivers of notice shall be filed with the Note Registrar, but such filing shall not be a condition <br /> precedent to the validity of any action taken in reliance upon such waiver. <br /> Upon surrender of the Note for redemption in accordance with said notice, the Note shall <br /> be paid by the Paying Agent at the redemption price. Interest due on or prior to the redemption <br /> date shall be payable as herein provided for payment of interest. Upon surrender for any partial <br /> redemption of the Note, there shall be prepared for the registered owner a new Note in the <br /> amount of the unpaid principal. <br /> If the Note has been called for redemption and shall not be so paid upon surrender thereof <br /> for redemption, the principal shall, until paid, bear interest from the redemption date. <br /> Section 8. Registration of Note; Persons Treated as Owners. The City shall cause <br /> books (the "Note Register") for the registration and for the transfer of the Note as provided in <br /> this Ordinance to be kept at the Bank as the Note Registrar. The City is authorized to prepare, <br /> and the Note Registrar shall keep custody of, multiple Note blanks executed by the City for use in <br /> the transfer and exchange of the Note. <br /> Upon surrender for transfer of the Note, duly endorsed by, or accompanied by a written <br /> instrument or instruments of transfer in fo�n satisfactory to the Note Registrar and duly executed <br /> by, the registered owner or his attorney duly authorized in writing, the City shall execute and the <br /> Note Registrar shall authenticate, date and deliver in the name of the transferee or transferees a <br /> new fully registered Note for a like aggregate principal amount. The execution by the City of any <br /> -8- <br />