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• <br /> This bond is one of an issue of bonds aggregating in <br /> total principal amount the sum of $83, 312 , which bonds are <br /> issued to provide funds necessary to pay the costs of the <br /> improvements acquired, constructed and installed in Local <br /> Improvement District No. 696. <br /> This bond is payable on or before December 1, 1996, and <br /> is subject to call by the Treasurer of the City on any annual <br /> interest payment date whenever there shall be sufficient money <br /> in said Local Improvement Fund No. 696 to pay the same and <br /> all unpaid bonds of this issue which are prior in numerical <br /> order to this bond over and above the amount necessary for the <br /> payment of the interest next coming due on the unpaid bonds <br /> of this local improvement district. <br /> Neither the owner nor the holder of this bond shall have <br /> any claim therefor against the City except for payment from <br /> the special assessments made for the improvements for <br /> which this bond is issued or except as against the Local <br /> Improvement Guaranty Fund of the City. The City shall not <br /> be liable to any owner or holder of this bond for any loss <br /> to the Guaranty Fund occurring in the lawful operation <br /> thereof by the City. The remedy of the owner or holder of <br /> this bond in case of nonpayment shall be confined to the <br /> enforcement of the assessments or to the Guaranty Fund. <br /> In the event this bond is called for payment before <br /> its final maturity, each and every interest coupon not due <br /> at the time of such payment shall be void. <br /> The call for payment of this bond shall be made by <br /> the City Treasurer by one publication thereof in the <br /> official City newspaper and when such call is made, this <br /> bond shall be paid on the day the next interest coupon <br /> thereon shall become due after such call. <br /> -4- <br />