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<br />. <br /> <br />. <br /> <br />. <br /> <br />payable as provided in this Resolution, the Bonds designated in <br />the notice of redemption. The moneys must be set aside in the <br />Fund solely for that purpose and shall be applied on or after <br />the redemption date to the payment (principal and premium, if <br />any) of the Bonds to be redeemed upon presentation and <br />surrender of the Bonds. In the event moneys transferred to the <br />Redemption Fund from the Escrowed Proceeds Fund exceed the <br />amount required to redeem the Special Term Bonds, such monies <br />shall be transferred to the Special Fund. <br /> <br />E. Partial Redemption of Bonds. Upon surrender of <br />any Bond redeemed in part only, the Agency shall execute and <br />the Fiscal Agent shall authenticate and deliver to the <br />registered owner, at the expense of the Agency, a new Bond or <br />Bonds of authorized denominations equal in aggregate principal <br />amount to the unredeemed portion of the Bond surrendered and of <br />the same interest rate and same maturity. The registered owner <br />of any Bond may, in lieu of surrendering the Bond for a new <br />Bond, endorse on the reverse of the Bond a notation of such <br />partial redemption. The endorsement shall be in a form <br />satisfactory to the Agency and the Fiscal Agent and under such <br />conditions as required by the Fiscal Agent. A partial <br />redemption shall be valid upon payment of the amount required <br />to be paid to the registered owner, and the Agency and the <br />Fiscal Agent shall be released and discharged from all <br />liability to the extent of such payment irrespective of whether <br />the endorsement of partial redemption shall or shall not have <br />been made upon the reverse of the Bond by the registered owner <br />and irrespective of any error or omission in the endorsement. <br /> <br />F. Effect of Redemption. Notice of redemption <br />having been duly given as provided above, and moneys for <br />payment of the principal of, premium, if any, and interest <br />payable upon redemption of the Bonds being set aside as <br />provided above, the Bonds, or parts thereof, called for <br />redemption shall, on the redemption date, become due and <br />payable at the redemption price specified in the notice. <br />Interest on the Bonds, or parts thereof, as the case may be, <br />called for redemption shall cease to accrue. The Bonds, or <br />parts thereof redeemed, shall cease to be entitled to any lien, <br />benefit or security under this Resolution, and the Owners of <br />the Bonds shall have no rights except to receive payment of the <br />redemption price, and, in the case of partial redemption of <br />Bonds, also to receive a new Bond or Bonds for the unredeemed <br />balance as provided above. <br /> <br />G. Purchase of Bonds. In lieu of redemption or <br />otherwise, the Fiscal Agent, on behalf of the Agency, is hereby <br />authorized to purchase Bonds on the open market at any time at <br />a price not to exceed the principal amount of the Bonds plus <br />the applicable premium and accrued interest, if any, to the <br />date of purchase plus brokerage fees, if any. <br /> <br />11-30-84 <br />l282p/2281/04 <br /> <br />-12- <br />