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stolen or destroyed Certificate shall have matured or be about to <br /> mature or has been selected for prepayment, the Trustee may pay to <br /> the Owner the principal amount of such Certificate upon the <br /> maturity thereof and the compliance with the aforesaid conditions <br /> by such Owner, without the issuance of a substitute Certificate <br /> therefor. <br /> All Certificates shall be held and owned upon the express <br /> condition that the foregoing provisions are exclusive with respect <br /> to the replacement or payment of mutilated, destroyed, lost or <br /> stolen Certificates and shall preclude any and all other rights or <br /> remedies, notwithstanding any law or statute existing or hereafter <br /> enacted to the contrary with respect to the replacement or payment <br /> of participations, negotiable instruments of investment or <br /> securities without their surrender. <br /> Section 3 . 09 . Cancellation and Destruction of Surrendered <br /> Certificates. Certificates surrendered for payment or prepayment, <br /> and the Certificates purchased from any money held by .the Trustee <br /> hereunder or surrendered to the Trustee for cancellation, shall be <br /> canceled and destroyed by the Trustee no later than 365 days <br /> following payment therefor, provided that no petition in bankruptcy <br /> shall have been filed by or against the City and not dismissed. <br /> Section 3 . 10. Issue of Certificates. The Trustee shall <br /> issue, execute and deliver the Certificates following the execution <br /> of this Agreement and filing with the Trustee the following: <br /> (a) a certified copy of an ordinance(s) and <br /> resolution(s) of the City Council authorizing (1) the execution and <br /> delivery of the Lease, Ground Lease and the Assignment; (2) the <br /> execution and delivery of the Construction Contract; and (3) the <br /> execution and delivery of this Agreement; <br /> (b) an original executed counterpart of the Lease, the <br /> Ground Lease and this Agreement; <br /> (c) an original executed Assignment; and <br /> (d) an approving opinion of Special Counsel. <br /> Section 3 . 11. Security for Certificates. The Certificates <br /> represent undivided proportionate ownership interests in all right, <br /> title and interest of Lessor in the Lease Payments to be made by <br /> the City under the Lease. The obligations of the City to make the <br /> Lease Payments are secured by the Trust Estate. The Certificates <br /> are not separately secured and are not obligations of the <br /> Underwriter, Trustee, or any other entity. <br /> C-13 KR173 92/01/27 <br />