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\.. ,."~ 10. Transfer of Bond; Person Treated as Holder. The Bond shall be transferable by the Holder on the bond register of the City, upon presentation of the Bond for notation of such transfer thereon at the office of the City Clerk, as bond regis- trar, accompanied by a written instrument of transfer in form satisfactory to the City Clerk and the City Attorney, dulf exe- cuted by the Holder or its attorney duly authorized in wrlting. The Holder seeking to transfer ownership of the Bond shall also give written notice thereof to the Partnership. The Bond shall continue to be SUbject to successive transfers at the option of the Holder of the Bond. No service charge shall be made for any such transfer, but the City Clerk may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. The person in whose name the Bond shall be issued or, if transferred, shall be registered from time to time shall be deemed and regarded as the absolute Holder thereof for all purposes, and payment of or on account of the principal of and interest on the Bond shall be made only to or upon the order of the Holder thereof, or its attorney duly authorized in writing, and neither the City, the City Clerk, the Partnership, nor the Bank shall be affected by any notice to the contrary. All such payments shall be valid and effectual to satisfy and discharge the liability upon the Bond to the extent of the sum or sums 60 paid. The Bond shall be initially registered in the name of the Bank. 12. Pledge to Holder. Pursuant to the Assignment, the City shall pledge and assign to the Bank and its successor Holders of the Bond all interest of the City in the revenues of the Project and the Project Facilities, including all Loan Repayments to be made by the Partnership under the Loan Agreement and moneys derived from enforcement of the Mortgage, Lease Assignment and Guaranty Agreement. All collections of moneys by the City in any proceeding for enforcement of the obligations of the Partnership under the Loan Agreement shall be received, held and applied by the City for the benefit of the Holder of the Bond. 13. Covenants with Holders; Enforceability. All pro- visions of the Bono-and of this Bond Resolution and all repre- sentations and undertakings by the City in the Loan Agreement are hereby declared to be covenants between the City and the Bank and its successor Holders of the Bond and shall be enforceable by the Bank or any Holder in a proceeding brought for that purpose. 14. Definitions and Interpretation. Terms not other- wise defined in this Bond Resolution but defined in the Loan Agreement shall have the same meanings in this Bond Resolution and shall be interpreted herein as provided therein. Notices may -6-