University of Virginia Library

(FORM OF REGISTERED BOND)

UNITED STATES OF AMERICA
STATE OF VIRGINIA

RECTOR AND VISITORS OF THE UNIVERSITY OF VIRGINIA,
CLINCH VALLEY COLLEGE FACULTY HOUSING BOND OF 1958

No. _____

$_____

The Rector and Visitors of the University of Virginia, Charlottesville, Virginia
(herein called the "Board"), a public corporation and governmental instrumentality of the
State of Virginia, acknowledges itself indebted and for value received hereby promises to
pay to _______________, or his successor (herein called the "Payee"), or his
registered assigns (herein called the "Alternate Payee"), the aggregate principal sum of
__________Dollars ($__________) in installments on November 1 in each of the years
and in the principal amounts as follows

 

Year	Principal Amount

in such coin or currency of the United States of America as at the time of payment shall be
legal tender for the payment of debts due the United States of America, and to pay interest
on the balance of said principal sum from time to time remaining unpaid, in like coin or
currency at the rate of __________ per centum (_____%) per annum from the date hereof,
semi-annually on May 1 and November 1 of each year, commencing May 1, 1959 until the said
principal sum hereof has been paid.

During the time the Payee is the registered owner of this Bond, payment of the
principal installments and interest due shall be made at The Federal Reserve Bank of Richmond,
Richmond, Virginia, or such other fiscal agent as the Payee shall designate (herein
called the "Fiscal Agent"). During such time as an Alternate Payee is the registered owner
hereof, said payments, together with premiums due upon prepayment of installments of principal,
if any, shall be made at the principal office of the Treasury Board of the State of
Virginia, Richmond, Virginia. During such time as the Payee is the registered owner of this
Bond, payments of the principal installments and interest, including prepayments of principal
installments as hereinafter provided, shall be made by the Board through the Treasury
Board without presentation and surrender of this Bond to the Fiscal Agent and said payments
shall be noted on the Payment Record made a part of this Bond, and if payment is made at the
office of the Fiscal Agent written notice of the making of such notation shall be promptly
sent to the Treasury Board at its principal office in Richmond, Virginia, and such payments
shall fully discharge the obligation of the Board hereon to the extent of the payments so
made. If the Payee shall assign this Bond, as hereinafter provided, the Alternate Payee
shall surrender the same to the Treasury Board either for exchange for a new Registered Bond
in the unpaid principal amount of this Bond, or for a verification of the payments noted
upon the said Payment Record, and thereafter all payments of principal, premiums, if any,
and interest on such Registered Bond shall be made only upon the surrender thereof to the
Treasury Board for the notation of said payments upon the said Payment Record. Upon final
payment of principal and interest, this Bond shall be submitted to the Treasury Board for
cancellation and surrender to the Board.

This Bond, designated as the "Clinch Valley College Faculty Housing Bond of 1958"
is a special obligation of the Board, and is issued by the Board pursuant to Chapter 3, Title
23, of the Code of Virginia, 1950, as amended, and pursuant to a resolution of the Board entitled
"Resolution authorizing the issuance of One Hundred Fifty Thousand Dollars ($150,000)
principal amount of Clinch Valley College Faculty Housing Bonds of 1958 of the Rector and
Visitors of the University of Virginia, fixing the form and other details, securing the payment
and providing for the rights of the holders thereof" (herein called the "Resolution"),
duly adopted by the Board to finance the construction of six single-family dwellings and a
four-unit apartment building, each with necessary appurtenant facilities to house ten faculty
families at Clinch Valley College of the University of Virginia, located in Wise, Virginia
(herein called the "Project"), and this Bond is payable solely from the Gross Revenues of the
Project after payment of the Current Expenses of the Project, and from such other sources as
provided in the Resolution. Reference is hereby made to the Resolution for a description of
the nature and extent of the security for the Bond, the funds and revenues pledged, the nature
and extent and manner of enforcement of the pledge, the rights and remedies of the holder
hereof with respect thereto, the terms and conditions upon which the Bond is issued and the
rights and obligations of the Board.

As provided in the Resolution, this Bond is exchangeable at the sole expense of the
Board at any time, on ninety (90) days written notice, at the request of the registered owner
hereof and upon surrender hereof to the Board at the principal office of the Treasury Board,
for negotiable Coupon Bonds, in the form provided in the Resolution, payable to bearer, registrable
as to principal only, of the denomination of One Thousand Dollars ($1,000) each, in an
aggregate principal amount equal to the unpaid principal amount of this Bond, and maturing in
the respective amounts and at the respective times as the unpaid principal installments hereof.

On any interest payment date, the Board shall have the right to prepay the principal
installments due on and after November 1, 1994, or such lesser portion thereof as it may determine
upon, in inverse chronological order of the said installments and in multiples of One Thousand
Dollars ($1,000), at the principal amount thereof, plus accrued interest to the date of prepayment,
and after the prepayment of all the aforesaid installments, the Board shall have the right
to prepay, on any interest payment date after November 1, 1968, the principal maturing November
1, 1969 through November 1, 1993, inclusive, or such lesser portion thereof as it may determine
upon, in inverse chronological order of the said principal installments and in multiples of One
Thousand Dollars ($1,000) at the prices for each One Thousand Dollar ($1,000) multiple as set
forth below, plus accrued interest thereon to the date fixed for prepayment, to-wit

           

If Prepaid	Prepayment Price (Percentage of Principal Amount Paid)
On or after May 1, 1969 to and including November 1, 1973	103.00%
Thereafter to and including November 1, 1978	102.50%
Thereafter to and including November 1, 1983	102.00%
Thereafter to and including November 1, 1988	101.50%
Thereafter at	101.00%

provided, however, that so long as the Payee is the registered owner of this Bond, the Board,
at its option, may prepay, on any interest payment date, all the principal installments then
remaining unpaid, or such lesser portion thereof as it may determine upon, in inverse chronological
order of the said installments and in multiples of One Thousand Dollars ($1,000) at
the principal amount thereof plus accrued interest to the date of such prepayment.

Notice of any prepayment shall be given at least thirty (30) days prior to the date
fixed for such prepayment by mailing to the registered owner of this Bond a notice fixing such
date of prepayment, specifying the amount of principal to be prepaid, the premium thereon, if
any, and the amount of accrued interest thereon to the date of prepayment.

This Bond may be assigned. Upon such assignment the assignor, as provided in the
Resolution, shall promptly notify the Board thereof, at the office of the Treasury Board by
registered mail, and the Alternate Payee shall surrender the Bond to the Treasury Board either
for verification of the notations of the payments of principal and interest and prepayments
of principal on the Payment Record hereof, and registration on the books of registry in the
name of the Alternate Payee, or, at the option of the Board, in exchange for a new fully
registered Bond, similar hereto, for the then unpaid principal amount hereof.

This Bond is issued pursuant to and under the authority of and in strict compliance
with the Constitution and statutes of the State of Virginia.

It is hereby certified, recited and declared that all acts, conditions and things required
by the Constitution and statutes of the State of Virginia to exist, to have happened and
to have been performed precedent to and in the issuance of this Bond, do exist, have happened
and have been performed in due time, form and manner as required by law.

IN WITNESS WHEREOF, the Board has caused this Bond to be executed in its name by its
President and the corporate seal of the said Board to be hereunto affixed and attested by the
Secretary of the Board, all as of the 1st day of November, 1958.

THE RECTOR AND VISITORS OF THE
UNIVERSITY OF VIRGINIA

By ____________________
President

ATTEST
____________________
Secretary

(FORM OF ASSIGNMENT)

For value received ____________________ hereby sells, assigns and transfers unto
_________________________ the within mentioned Bond, and hereby irrevocably constitutes
and appoints ____________________ attorney to transfer said Bond on the books
of registration in the office of the Treasury Board of the State of Virginia, Richmond, Virginia,
with full power of substitution in the premises.

Dated ____________________

Witness ____________________

Note The signature to this Assignment must correspond with the name as
written on the face of the within Bond in every particular, without
alteration, enlargement or any change whatsoever.

PAYMENT RECORD

 

Due Date

Principal Payment

Principal Balance Due

Interest Payment (   %)

Date Paid

Name of Paying Agent Authorized Official and Title

PAYMENT RECORD

Principal installments on which payments have been made prior to maturity

   

Principal Due		Principal Payment	Balance	Date Paid	Name of Paying Agent Authorized Official and Title
Date	Amount