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Participants, which will in turn remit such interest and principal to Beneficial Owners of the Bonds (see
<br />APPENDIX G - "THE BOOK -ENTRY SYSTEM."). As long as DTC is the registered owner of the Bonds and
<br />DTC's book -entry method is used for the Bonds, the Trustee will send any notices to Bond Owners only to
<br />DTC.
<br />DTC may discontinue providing its services as securities depository with respect to the Bonds at any
<br />time by giving reasonable notice to the Successor Agency or the Trustee. Under such circumstances, if a
<br />successor securities depository is not obtained, Bonds are required to be printed and delivered as described in
<br />the Indenture. The Successor Agency may decide to discontinue use of the system of book -entry transfers
<br />through DTC (or a successor securities depository). In that event, the Bonds will be printed and delivered as
<br />described in the Indenture.
<br />Redemption
<br />Optional Redemption of the Series 2018A Bonds. The Series 2018A Bonds maturing on or after
<br />September 1, 202_, are subject to optional redemption before maturity on or after September 1, 202, at the
<br />option of the Successor Agency, in whole or in part, on any date, at a redemption price equal to the principal
<br />amount of the Series 2018A Bonds to be redeemed, plus accrued but unpaid interest to the redemption date. The
<br />Series 2018B Bonds are not subject to optional redemption prior to maturity.
<br />In the case of any redemption of Bonds, the Trustee shall give notice, as hereinafter in this section
<br />provided, that Bonds, identified by serial numbers, series and maturity date (and interest rate in the case of
<br />bifurcated maturities), have been called for redemption and, in the case of Bonds to be redeemed in part only,
<br />the portion of the principal amount thereof that has been called for redemption (or if all the Outstanding Bonds
<br />are to be redeemed, so stating, in which event such serial numbers may be omitted), that they will be due and
<br />payable on the date fixed for redemption (specifying such date) upon surrender thereof at the Corporate Trust
<br />Office, at the redemption price (specifying such price), together with any accrued interest to such date, and that
<br />all interest on the Bonds, the respective series of Bonds, or portions thereof, as applicable, so to be redeemed
<br />will cease to accrue on and after such date and that from and after such date such Bond or such portion shall no
<br />longer be entitled to any lien, benefit or security under the Indenture, and the Owner thereof shall have no rights
<br />in respect of such redeemed Bond or such portion except to receive payment from such moneys of such
<br />redemption price plus accrued interest to the date fixed for redemption.
<br />Such notice shall be mailed by first class mail, postage prepaid, at least twenty (20) but not more than
<br />sixty (60) days before the date fixed for redemption, to DTC, or such other securities depositories as designated
<br />by the Trustee, the Municipal Services Rulemaking Board and the Owners of such Bonds, or portions thereof, so
<br />called for redemption, at their respective addresses as the same shall last appear on the Bond Register. No
<br />notice of redemption need be given to the Owner of a Bond to be called for redemption if such Owner waives
<br />notice thereof in writing, and such waiver is filed with the Trustee prior to the redemption date. Neither the
<br />failure of an Owner to receive notice of redemption of Bonds hereunder nor any error in such notice shall affect
<br />the validity of the proceedings for the redemption of Bonds.
<br />Any notice of redemption may be expressly conditional and may be rescinded by written request of the
<br />Successor Agency given to the Trustee not later than the date fixed for redemption. Upon receipt of such
<br />written request of the Successor Agency, the Trustee shall promptly mail notice of such rescission to the same
<br />parties that were mailed the original notice of redemption.
<br />Payment of Redeemed Bonds. If notice of redemption has been given or waived as provided in the
<br />Indenture, the Bonds or portions thereof called for redemption shall be due and payable on the date fixed for
<br />redemption at the redemption price thereof, together with accrued interest to the date fixed for redemption, upon
<br />presentation and surrender of the Bonds to be redeemed at the office specified in the notice of redemption. If
<br />there shall be called for redemption less than the full principal amount of a Bond, the Successor Agency shall
<br />execute and deliver and the Trustee shall authenticate, upon surrender of such ,Bond, and without charge to the
<br />SA -3-23
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