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In the event the Bonds are purchased by the Original Purchaser, the Trustee is authorized to issue the Bonds as a single, fully-registered Certificate in the face amount of not- to-exceed $7,400,000 Thereafter, and upon not less than thirty (30) days written notice to the City, the single, fully-registered Certificate may be exchanged at the expense of the City for Serial Bonds in denominations of$5,000 each, or any whole multiple thereof, and with principal maturities reflecting the schedule set forth on the face of said single, fully-registered Certificate under the column heading"Principal Amount Payable," as amended from time to time in accordance with the Agreement and this Trust Agreement, provided that in the event that such exchange occurs prior to payment of the principal payable on February 1, 2018, one of the Serial Bonds issued with principal payable on February 1, 2018 will include the odd amount, if any, by which the aggregate principal of the Bonds is not divisible by $5,000 The principal of the Series 2017 Bonds shall be payable in lawful money of the United States of America at the Principal Trust Office of the Trustee The Series 2017 Bonds shall bear interest at the rates set forth above, payable on August 1, 2017, and semiannually thereafter on February 1 and August 1 in each year Each Series 2017 Bond shall bear interest from the interest payment date next preceding the date of authentication thereof, unless such date of authentication is an interest payment date, in which event such Bond shall bear interest from such date, or unless such date of authentication is prior to the Record Date (as hereinafter defined) for the first Interest payment date, in which event such Bond shall bear interest from the date of delivery thereof, provided, however, that if at the time of authentication of any Series 2017 Bond interest is then in default on the Outstanding Series 2017 Bonds, such Series 2017 Bond shall bear interest from the interest payment date to which interest has previously been paid or made available for payment on the Outstanding Series 2017 Bonds Payment of interest on the Series 2017 Bonds due on or before the maturity or prior redemption thereof shall be made to the person whose name appears in the Series 2017 Bonds registration books kept by the Trustee pursuant to Section 2 08 as the registered owner thereof as of the close of business on the fifteenth day of the month immediately preceding an interest payment date (the "Record Date"), whether or not such day is a Business Day, such interest to be paid by check mailed by first class mail to such registered owner at the address as it appears in such books Upon the occurrence of an Event of Default, the Bonds shall bear interest at the Default Rate -8- 2762680 2