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destroyed, stolen or lost, and of the ownership thereof, and <br />upon furnishing to the Registrar of an appropriate bond of <br />indemnity in form, substance and amount as may be required by <br />law and as is satisfactory to the Registrar, in which bond the <br />Issuer and the Registrar shall be named as obligees. All Bonds <br />so surrendered to the Registrar shall be cancelled by it and <br />evidence of such cancellation shall be given to the Issuer. if <br />the mutilated, destroyed, stolen or lost Bond has already <br />matured or been called for redemption in accordance with its <br />terms it shall not be necessary to issue a new Bond prior to <br />payment, provided that the owner shall first provide the <br />Registrar with a bond of indemnity as set forth above. <br />1.9. Records, Statements, Payment of Interest and <br />Principal. The Registrar shall: <br />(a) keep true and accurate accounts of the <br />outstanding principal balance of the Bonds; <br />(b) not less than thirty (30) days before the due <br />date of any principal of or interest on the Bonds, <br />send a statement to the Issuer of the amount which <br />will be required to pay the principal of and interest <br />on the Bonds on such date; <br />(c) pay such of the interest on the Bonds as is <br />due on each stated interest payment date, with the <br />funds received from the Issuer, by check or draft <br />mailed, no later than the interest payment date, to <br />the registered owners of the Bonds as of the close of <br />business on the 15th day (whether or not a business <br />day) of the preceding month, at their addresses as <br />they appear on the Bond Register; if the Issuer <br />provides the Registrar with sufficient funds to make <br />such payment prior to any interest payment date, the <br />Registrar shall mail such checks or drafts at the <br />close of business on the last business day preceding <br />such interest payment date; <br />(d) pay such of the principal of the Bonds as is <br />due on the stated payment dates, with the funds <br />received by the Issuer, upon presentation of the Bonds <br />for payment; <br />(e) forthwith upon presentation and payment of <br />the Bonds cancel the same and retain and dispose of <br />the same in the manner set forth in Section 1.4 <br />hereof; and <br />The Registrar shall not be required to pay interest on any <br />funds of the Issuer for any period during which such funds <br />are held by the Registrar awaiting the presentation of the <br />- 3 'al 'd L 2C <br />