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200403825 <br />payments on account of interest or principal made to the registered owner of any Building and Equipment <br />Bond in accordance with the terms of this Indenture shall be valid and effectual and shall be a discharge of <br />the Corporation and the Trustee, in respect of the liability upon the Building and Equipment Bonds or claims <br />for interest to the extent of the sum or sums so paid. <br />Section 3. The Trustee shall keep and maintain for the Corporation books for the <br />registration and transfer of the Bonds at its designated corporate trust office, which for purposes of this <br />Indenture shall be its office located at 1248 "O" Street, in Lincoln, Nebraska, unless and until otherwise <br />designated by the Trustee in writing to the Corporation and the College. The names and registered addresses <br />of the registered owner or owners of the Bonds shall at all times be recorded in such books. Any Bond may <br />be transferred pursuant to its provisions at the designated corporate trust office of the Trustee by surrender of <br />such Bond for notation of transfer, accompanied by a .tiTitten instrument of transfer, in form satisfactory to <br />the Trustee, duly executed by the registered owner in person or by such owner's duly authorized agent, and <br />thereupon the Trustee on behalf of the Corporation will register such transfer upon said registration books and <br />make notation thereof on the Bond and deliver the same to the transferee registered owner (or send it by <br />registered mail to the transferee owner at such transferee owner's risk and expense). To the extent of the <br />denominations authorized for the Bonds by this Indenture or any supplement hereto, one Bond may be <br />transferred for several such Bonds of the same series, interest rate and maturity, and for a like aggregate <br />principal amount, and several such Bonds may be transferred for one or several such Bonds, respectively, of <br />the same series, interest rate and maturity and for a like aggregate principal amount. In every case of <br />transfer of a Bond, the surrendered Bond shall be canceled and destroyed. All Bonds issued upon transfer of <br />the Bonds so surrendered shall be valid obligations of the Corporation under this Indenture evidencing the <br />same obligation as the Bonds surrendered and shall be entitled to all the benefits and protection of this <br />Indenture to the same extent as the Bonds upon transfer of which they were delivered. Payments of interest <br />shall be mailed to the registered owners as of the Record Date for each Interest Payment Date. The <br />Corporation and the Trustee shall not be required to transfer any Bond during any period from any Record <br />Date until its immediately following Interest Payment Date or to transfer any Bond called for redemption for <br />a period of 30 days next preceding the date fixed for redemption. <br />Section 4. In the event that payments of interest due on the Bonds on an Interest Payment <br />Date are not timely made, such interest shall cease to be payable to the registered owners as of the Record <br />Date for such Interest Payment Date and shall be payable to the registered owners of the Bonds as of a special <br />date of record for payment of such defaulted interest as shall be designated by the Trustee whenever monies <br />for the purpose of paying such defaulted interest become available. <br />Section 5. If the date for payment of the principal of or interest on the Bonds shall be <br />Saturday, Sunday, legal holiday or a day on which banking institutions in the city where the designated <br />corporate trust office of the Trustee is located are authorized by law or executive order to close, then the date <br />for such payment shall be the next succeeding day which is not a Saturday, Sunday, legal holiday or a day on <br />which such banking institutions are authorized to close, and payment on such day shall have the same force <br />and effect as if made on the nominal date of payment. <br />Section 6. The Bonds, together with interest thereon, shall be payable out of the basic <br />payments paid by the College pursuant to the Contract. The Bonds shall be substantially in the form <br />following, to -wit: <br />3 <br />