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<br />. <br /> <br />. <br /> <br />. <br /> <br />become due and payable on each of such Bonds the redemption <br />price for each Bond. <br /> <br />The actual receipt by the Owner of any Bond of notice <br />of redemption shall not be a condition precedent to redemption, <br />and failure to receive notice shall not affect the validity of <br />the proceedings for the redemption of the Bonds or the <br />cessation of interest on the redemption date. Notice of <br />redemption of Bonds shall be given by the Fiscal Agent and on <br />behalf of the Agency at the expense of the Agency. <br /> <br />A certificate by the Fiscal Agent that notice of <br />redemption has been given in accordance with this Resolution <br />shall be conclusive as against all parties, and no Bondholder <br />whose Bond is called for redemption may object to the <br />redemption or the cessation of interest on the redemption date <br />by claiming or showing that he failed to receive actual notice <br />of call and redemption. <br /> <br />D. Redemption Fund. Prior to the mailing of notice <br />as required above, the Fiscal Agent shall establish, maintain <br />and hold in trust a separate fund which is hereby created for <br />the purpose of this Resolution entitled "City of Santa Ana <br />Community Redevelopment Agency, South Main Street Redevelopment <br />Project Tax Allocation Bonds, 1984, Redemption Fund" <br />(hereinafter referred to as the "Redemption Fund"). There <br />shall be set aside in the Redemption Fund prior to mailing <br />notice of optional or mandatory redemption, moneys for the <br />purpose of and sufficient to redeem, at the premiums, if any, <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 />Account solely for that purpose and shall be applied on or <br />after the redemption date to the payment (principal and <br />premium, if any) of the Bonds to be redeemed upon presentation <br />and surrender of the Bonds. <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 o~er, 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 /> <br />0715p/2281/04 <br /> <br />-10- <br />