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<br />shall become due and payable on the prepayment date stated in such notice; and the amount of <br />principal shall be paid (i) in case the entire unpaid balance of the principal of this Bond is to be <br />paid, upon presentation and surrender of the Bond to the office of the Paying Agent <br />(designated corporate trust office, if the Paying Agent is not the City's Finance Department), <br />and (ii) in case only part of the unpaid balance of principal of this Bond is to be paid, upon <br />presentation of such Bond at the office of the Paying Agent (designated corporate trust office, <br />if the Paying Agent is not the City's Finance Department) for notation thereon of the amount of <br />principal then paid or for issuance of a replacement Bond in the principal amount not <br />redeemed. Notwithstanding the provisions of clause (ii) above, if all of the Bonds are <br />registered in the name of the Bank:, a partial prepayment may be effected by payment to the <br />Bank of the principal without surrender of this Bond. n: on the prepayment date, funds for the <br />payment of the principal amount to be prepaid shall have been provided to the Paying Agent, as <br />above provided, then from and after the prepayment date interest on such principal amount of <br />this Bond shall cease to accrue. If said funds shall not have been so paid on the prepayment <br />date with respect to principal and on the next succeeding Payment Date with respect to <br />interest, the principal amount of the Bond shall continue to bear interest until payment thereof <br /> <br />THIS BOND SHALL NOT BE AND SHALL NOT CONSTITUTE AN <br />INDEBTEDNESS OF THE CITY WITHIN THE MEANING OF ANY <br />CONSTITUTIONAL, STATUTORY, CHARTER OR OTHER LIMITATIONS OF <br />INDEBTEDNESS BUT SHALL BE SECURED SOLELY BY AND PAYABLE FROM <br />THE PLEDGED REVENUES. NO HOLDER OF THIS BOND SHALL EVER HAVE <br />THE RIGHT TO COMPEL THE EXERCISE OF AD VALOREM TAXING POWER OF <br />THE CITY, OR TAXATION IN ANY FORM OF ANY REAL PROPERTY THEREIN TO <br />PAY THE BOND OR THE INTEREST THEREON. <br /> <br />The pledge of the Pledged Revenues for payment of this Bond shall be on a parity in all <br />respects to the pledge of the Pledged Revenues for payment of the City's outstanding Utilities <br />Tax Revenue Bond, Series 1998 pursuant to City of Sunny Isles Beach, Florida Ordinance No. <br />98-39 and the City's outstanding Utilities Tax Revenue Bond, Series 1999 pursuant to City of <br />Sunny Isles Beach, Florida Ordinance No. 99-72 <br /> <br />The terms and provisions of the Ordinance are incorporated in this Bond as though <br />such terms and provisions have been set out in full herein. <br /> <br />A-3 <br />