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any repayments of installments of principal, shall be noted on the Payment Record made a part of this bond and written notice of the notation of such payment on the Payment Record shall be given promptly to the Treasurer of the Board without presentation or surrender hereof, and the Board shall be fully discharged of its obligation on this bond to the extent of the payment so made. Upon final payment this bond shall be surrendered to the Board for Cancellation.

This bond is a temporary bond issued in lieu of definitive coupon bonds of the denomination of $1,000 each and aggregating in principal amount the amount of this temporary bond. At the request of the registered owner the Board will, within ninety (90) days after its receipt of such request, cause to be prepared and delivered in exchange for this temporary bond, at the place designated by the registered owner and without expense to the registered owner, definitive coupon bonds in an aggregate principal amount equal to the principal amount of this temporary bond then unpaid, having maturities corresponding to the maturities of the installments of principal of this temporary bond then unpaid and of the same series and bearing interest at the same rate or rates as indicated above for such maturities, and upon any such exchange all coupons appertaining to the definitive coupon bonds and representing interest theretofore paid shall be detached and cancelled. Until so exchanged this temporary bond shall in all respects be entitled to the same benefit of the Resolution hereinafter mentioned as the definitive coupon bonds to be issued thereunder.

This bond shall not be deemed to constitute a debt of the State of North Carolina or a pledge of the faith and credit of the State, but shall be payable as to both principal and interest solely from the special fund provided therefor as hereinafter set forth.

This bond is one of a duly authorized issue of bonds of the Board, all of like date, aggregating Two Million Six Hundred Twenty-Five Thousand Dollars ($2,625,000), consisting of bonds in the principal amount of $825,000 designated "The University of North Carolina at Greensboro Dormitory System Revenue Bonds of 1962, Series A" (hereinafter called the "Series A bonds"), numbered 1 to 825, inclusive, and maturing in annual installments in the years 1964 to 1996, inclusive, and bonds in the principal amount of $1,800,000 designated "The University of North Carolina at Greensboro Dormitory System Revenue Bonds of 1962, Series B" (hereinafter called the "Series B bonds"), numbered 1 to 1,800, inclusive, and maturing in annual installments in the years 1965 to 2002,