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Every successor Registrar appointed hereunder shall execute and acknowledge, and shall deliver to
its predecessor, the Issuer, the Trustee and the Borrower, an instrument or document in writing accepting
the appointment. Thereupon, without any further act, the successor shall become vested with all of the
properties, remedies, powers, rights, duties, obligations, discretions, privileges, claims, demands, causes of
action, immunities, titles and interests of its predecessor. Upon the written request of its successor, the
Issuer or the Borrower, a predecessor Registrar (A) shall execute and deliver an instrument or document
transferring to its successor all of the properties, remedies, powers, rights, duties, obligations, discretions,
privileges, claims, demands, causes of action, immunities, titles and interests of it as predecessor Registrar
hereunder, and (B) shall take any other action necessary to duly assign, transfer and deliver to its successor
all property and records (including without limitation, the Register and any cancelled Bonds) held by it as
Registrar. Should any instrument or document in writing from the Issuer be requested by any successor
Registrar for vesting and conveying more fully and certainly in and to that successor the properties,
remedies, powers, rights, duties, obligations, discretions, privileges, claims, demands, causes of action,
immunities, titles and interests vested or conveyed or intended to be vested or conveyed hereby in or to a
predecessor Registrar, the Issuer shall execute, acknowledge and deliver that instrument or document.
The Trustee shall cause the Borrower to pay pursuant to Section 4.2 of the Loan Agreement, to any
Registrar customary compensation for its services from time to time, as authorized, but subject to the
limitations set forth, in Section 6.03 hereof. The provisions of Sections 3.05, 3.06, 3.07, and 6.02(d) hereof
shall be applicable to the Registrar.
Section 6.12 Designation and Succession of Paying Agents. The Trustee shall be a Paying
Agent for the Bonds, and, with the consent of the Issuer, the Trustee may appoint a Paying Agent or Agents
with power to act on its behalf and subject to its direction in the payment of Bond Debt Service Charges on
the Bonds. It is the responsibility of the Trustee to establish the duties and responsibilities of the Paying
Agent for the purposes of this Indenture, to the extent not specified herein.
Any corporation or association with or into which the Paying Agent may be merged or converted
or with which it may be consolidated, or any corporation or association resulting from any merger,
consolidation or conversion to which the Paying Agent shall be a party, or any corporation or association
succeeding to the trust business of the Paying Agent, shall be the successor of that Paying Agent hereunder,
if that successor corporation or association is otherwise eligible hereunder, without the execution or filing
of any paper or any further act on the part of the parties hereto or the Paying Agent or that successor
corporation or association.
The Paying Agent may at any time resign by giving written notice of resignation to the Trustee, to
the Registrar and to the Borrower. The Trustee may at any time terminate the agency of the Paying Agent
by giving written notice of termination to such Paying Agent, to the Registrar and to the Borrower. Upon
receiving such a notice of resignation or upon such a termination, or in case at any time the Paying Agent
shall cease to be eligible under this Section, the Trustee may appoint a successor Paying Agent. The Trustee
shall give written notice of appointment of a successor Paying Agent to the Borrower, the Issuer and the
Registrar and shall mail, within 10 days after that appointment, notice thereof to all Holders as their names
and addresses appear on the Register on the date of that appointment.
The Trustee shall cause the Borrower to pay pursuant to Section 4.2 of the Loan Agreement, to the
Paying Agent from time to time customary compensation as authorized, but subject to the limitations set
forth, in Section 6.03 hereof for its services.
The provisions of Section 3.05, 3.07, and 6.02(d) shall be applicable to the Paying Agent.
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