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SECTION 7.03. Endorsement or Replacement of Bonds After Amendment. After the <br />effective date of any amendment or modification hereof under this Article VII, the City may <br />determine that any or all of the Bonds shall bear a notation, by endorsement in form approved <br />by the City, as to such amendment or modification and in that case upon demand of the City <br />the Owners of such Bonds shall present such Bonds for that purpose at the Office of the <br />Trustee, and thereupon a suitable notation as to such action shall be made on such Bonds. In <br />lieu of such notation, the City may determine that new Bonds shall be prepared and executed in <br />exchange for any or all of the Bonds and in that case upon demand of the City the Owners of <br />the Bonds shall present such Bonds for exchange at the Office of the Trustee without cost to <br />such Owners. <br />SECTION 7.04. Amendment by Mutual Consent. The provisions of this Article VII do not <br />prevent any Owner from accepting any amendment as to the particular Bond held by such <br />Owner. <br />SECTION 7.05. Trustee's Reliance. The Trustee may conclusively rely, and is protected <br />in relying, upon a Certificate of the City and an opinion of counsel stating that all requirements <br />of this Indenture relating to the amendment or modification hereof have been satisfied and that <br />such amendments or modifications do not materially adversely affect the interests of the Bond <br />Owners. <br />22 <br />