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<br />-19- <br />be submitted to the Successor Agency and the Trustee and, if such evidence be satisfactory to <br />both and indemnity satisfactory to them shall be given, the Successor Agency, at the expense of <br />the Owner, shall execute, and the Trustee shall thereupon authenticate and deliver, a new Bond <br />of like tenor and amount in lieu of and in substitution for the Bond so lost, destroyed or stolen (or <br />if any such Bond has matured or has been called for redemption, instead of issuing a substitute <br />Bond, the Trustee may pay the same without surrender thereof upon receipt of indemnity <br />satisfactory to the Trustee and the Successor Agency). The Successor Agency may require <br />payment by the Owner of a sum not exceeding the actual cost of preparing each new Bond issued <br />under this Section 2.10 and of the expenses which may be incurred by the Successor Agency <br />and the Trustee in the premises. Any Bond issued under the provisions of this Section in lieu of <br />any Bond alleged to be lost, destroyed or stolen shall constitute an original additional contractual <br />obligation on the part of the Successor Agency whether or not the Bond so alleged to be lost, <br />destroyed or stolen be at any time enforceable by anyone, and shall be equally and <br />proportionately entitled to the benefits of this Indenture with all other Bonds issued pursuant to <br />this Indenture. <br /> <br />Section 2.11. Book-Entry System. <br /> <br />(a) Original Delivery. The Bonds shall be initially delivered in the form of a separate single <br />fully registered Bond without coupons (which may be typewritten) for each maturity of the Bonds. <br />Upon initial delivery, the ownership of each such Bond shall be registered on the Registration <br />Books in the name of the Nominee. Except as provided in subsection (c), the ownership of all of <br />the Outstanding Bonds shall be registered in the name of the Nominee on the Registration Books. <br /> <br />With respect to Bonds the ownership of which shall be registered in the name of the <br />Nominee, neither the Successor Agency nor the Trustee shall have any responsibility or obligation <br />to any Depository System Participant or to any person on behalf of which the Depository System <br />Participant holds an interest in the Bonds. Without limiting the generality of the immediately <br />preceding sentence, neither the Successor Agency nor the Trustee shall have any responsibility <br />or obligation with respect to (i) the accuracy of the records of the Depository, the Nominee or any <br />Depository System Participant with respect to any ownership interest in the Bonds, (ii) the delivery <br />to any Depository System Participant or any other person, other than a Bond Owner as shown in <br />the Registration Books, of any notice with respect to the Bonds, including any notice of <br />redemption, (iii) the selection by the Depository of the beneficial interests in the Bonds to be <br />redeemed in the event the Successor Agency elects to redeem the Bonds in part, (iv) the payment <br />to any Depository System Participant or any other person, other than a Bond Owner as shown in <br />the Registration Books, of any amount with respect to principal, premium, if any, or interest on <br />the Bonds or (v) any consent given or other action taken by the Depository as Owner of the Bonds. <br />The Successor Agency and the Trustee may treat and consider the person in whose name each <br />Bond is registered as the absolute owner of such Bond for the purpose of payment of principal, <br />premium and interest on such Bond, for the purpose of giving notices of redemption and other <br />matters with respect to such Bond, for the purpose of registering transfers of ownership of such <br />Bond, and for all other purposes whatsoever. The Trustee shall pay the principal of and interest <br />and premium, if any, on the Bonds only to the respective Owners or their respective attorneys <br />duly authorized in writing, and all such payments shall be valid and effective to fully satisfy and <br />discharge all obligations with respect to payment of principal of and interest and premium, if any, <br />on the Bonds to the extent of the sum or sums so paid. No person other than a Bond Owner shall <br />receive a Bond evidencing the obligation of the Successor Agency to make payments of principal, <br />interest and premium, if any, pursuant to this Indenture. Upon delivery by the Depository to the <br />Nominee of written notice to the effect that the Depository has determined to substitute a new <br />nominee in its place, and subject to the provisions herein with respect to Record Dates, such new <br />445