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. Registrar, by the registered owner hereof in person or by the owner's attorney duly authorized in writing upon surrender hereof together with a written instrument of transfer satisfactory to the Registrar, duly executed by the registered owner or the owner's attorney, and may also be surrendered in exchange for Bonds of other authorized denominations. Upon such transfer or exchange the Issuer will cause a new Bond or Bonds to be issued in the name of the transferee or registered owner, of the same aggregate principal amount, bearing interest at the same rate and maturing on the same date, subject to reimbursement for any tax, fee, or governmental charge required to be paid with respect to such transfer or exchange. The Issuer and the Registrar may deem and treat the person in whose name this Bond is registered as the absolute owner hereof, whether this Bond is overdue or not, for the purpose of receiving paYment and for all other purposes, and neither the Issuer nor the Registrar shall be affected by any notice to the contrary. (Form of certificate to be printed on the reserve side of each Bond, following a full copy of the legal opinion.) . We certify that the above is a full, true, and correct copy of the legal opinion rendered by bond counsel on the issue of Bonds of the City of Elk River, Minnesota, which includes the within Bond, dated as of the date of delivery of and paYment for the Bonds. (Facsimile Signature) City Administrator (Facsimile Signature) Mayor The following abbreviations, when used in the inscription on the face of this Bond, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM -- as tenants in common UNIF TRANS MIN ACT (Cust) Custodian (Minor) TEN ENT -- as tenants by the entireties under Uniform Transfers to Minors JT TEN as joint tenants with right of survivorship and not as tenants in common Act. . . (State) 12.