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? • - ' <br />• ? ?? <br />,:. <br />discretion, rescind any declaration miade pursuant to this <br />paragraph and, upcin surh rescission, the Issuer anu the Holder <br />shall be restoreci to tYzeir resp2ct.ive pcDsitions hereunder; <br />provided that no such rescission shall ext?nd to ar-ly subsequent <br />or other d2fault hereunder or ilnpair any right consequent <br />tYiereon. <br />This Bond is issued as a reqistered lDond in the principal <br />amount oi $590,000 to TRANSUHIO Savings %lssociation, Cl,,??veland, <br />Ohio, and inay not be assigned or transferr_ed by the Holder to <br />otizer than aFinancial Institution, as detined in the Bond <br />L?gislation, and any other assignmf>nt or -uratisf_er shall be void <br />arid of no effect. In th=, event of any such asszgnment or <br />transf.er, the Ho_lder shal_l, .r.oncurrently thetewith, assign or <br />transFer its interest in the riortg_zge, the Assignment and the <br />Leas2 and RerZts Assigniner.t. Fach Holde,r by its acceptance <br />hereof, agrees that it shall not transfer this Bond except in <br />compliance with all applicab_le Federal and state securities laws <br />and to other than a Financial Institutivrz and thar any transfer <br />to otner than a Financial Institution snall be void and of no <br />effect. <br />Tnis Bond sha11 not constitute the personal obligation, <br />either jointly or several_ly, of the inembers of the City Council <br />of_ the Issuer, or of any officer of the Issuer. <br />I`P IS HEREJ3Y CER'I'IFIL•;i) A:VD RFCIZ'ED t.hat a1I c-iCts, <br />coriditions and things nQCessary to pe do?ne ar perforTned by ti7e <br />Issuer or to have happened precedent to and in the issuing of <br />tnis 3ond in order to make it a leaal, valid and binding special <br />opligation of the Issuer in accor.dance with its teri.ns, and <br />precedent to and in the execution and delivery of the Agreement <br />and the Assignment, have been done and performed and have <br />happened in regular and due form as required by 1aw; that <br />payment in full for this Bond has ne2n received; and that this <br />Bond cioes not exceed or violate any constitutional or statutory <br />limitation. <br />IN WITNESS WHEREOF, the City of North Olmsted, Ohio has <br />caused this Bond to be executed in the name of the Issuer by the <br />signature of its Mayar and of the Finance Directar and has <br />caused the seal of the Mayor to be affixed hereon, all as of <br />D?cemoer 15, 1980. <br />CITY OF NORTH QLMSTED, OHIO <br />By <br />hiayor <br />By <br />Finance Director <br />( Seal ) 7