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<br />. <br /> <br />. <br /> <br />. <br /> <br />1990 or on any interest payment date thereafter, prior to <br />maturity, in inverse order of maturity and by lot within any <br />maturity. The interest payment date on which Bonds are to be <br />presented for redemption is sometimes referred to as the <br />"redemption date." Bonds called for redemption shall be <br />redeemed at a redemption price for each redeemed Bond equal to <br />its principal amount, plus accrued interest to the redemption <br />date plus a premium equal to one quarter of one percent for <br />each year between the redemption date and the maturity date. <br />The dates set forth herein may be changed by supplemental <br />resolution hereto. <br /> <br />B. Mandatory Redemption. The Bonds are subject to <br />mandatory redemption in whole or in part, at the same times <br />permitted for optional redemption and at a redemption price of <br />par plus accrued interest to the redemption date, in inverse <br />order of maturity and by lot within any maturity, to the extent <br />of excess moneys in the Special Fund, as required by Section <br />15(d) and (e). <br /> <br />For the purpose of selecting Bonds by lot, Bonds in <br />excess of $5,000 will be assigned a separate number for each <br />$5,000 of principal they represent. <br /> <br />C. Call and Redemption; Notice of Redemption. The <br />Agency may (and, if required by Section 15 hereof, shall) by <br />resolution direct the call and redemption prior to maturity of <br />Bonds by the Fiscal Agent in such amounts as there are funds <br />available for use in redemption and shall give notice to the <br />Fiscal Agent of the redemption at least sixty (60) days prior <br />to the redemption date. <br /> <br />Notice of redemption prior to maturity (except as <br />provided below) shall be given by first class mailing, postage <br />prepaid not less than thirty (30) nor more than sixty (60) days <br />prior to the redemption date, (i) to the original purchaser(s) <br />of the Bonds (in the case of a syndicate, to the manager' <br />thereof), and (ii) to the registered owner of each such Bond at <br />the address shown on the registration books of the Fiscal <br />Agent. Neither the failure to receive such notice nor any <br />inmaterial defect in any notice mailed shall affect the <br />sufficiency of the proceedings for the redemption of any <br />Bonds. The notice of redemption shall (a) state the redemption <br />date; (b) state the redemption price; (c) state the numbers of <br />the Bonds to be redeemed; provided, however, that whenever any <br />calI for redemption includes all of the outstanding Bonds, the <br />numbers of the Bonds need not be stated; (d) state, as to any <br />Bonds redeemed in part only, the Registered Bond numbers and <br />the principal portion thereof to be redeemed; and (e) state <br />that interest on the principal portion of the Bonds designated <br />for redemption shall cease to accrue from and after the <br />redemption date and that on the redemption date there shal1 <br /> <br />0715p/2281/04 <br /> <br />-9- <br />