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i , 1 \. ~.. f I ~ The Bonds are subject to mandatory redemption by the Authority, (1) in whole or in part (but in an amount less than $5,000 or any multiple of $5,000) on any Payment Date in the event the Project (as defined in th Resolution) or any portion thereof is damaged or destroyed or taken in a condemnation proceedi ng as more particularly described in the Agreement; (2) in whole or in part (but not in an amount of less than $5,000 or any multiple of $5,000) on any Payment Date, in the event the Company elects to apply the Net Proceeds (as defined in the Resolution) of title insurance to the redemption of the Bonds as more particularly described in the Agreement; (3) in whole on the Payment Date next following a Determination of Taxability, as more particularly defined and described in the Agreement; (4) in part, from Base Loan Payments (as defined in the Resolution) paid by the Company, on January 1 in the years and in the amounts set forth below: Year Principal Amount 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 (Maturity) $145,000 155,000 175,000 190,000 210,000 230,000 255,000 280,000 305,000 335,000 Bonds subject to mandatory redemption shall be redeemed by the Authority at a redemption pri ce of one hundred percent (100%) of the pri nci pa 1 amount to be redeemed plus accrued interest to the Payment Date of redemption, without premium. In addition, the Bonds are subject to optional redemption by the Authority from amounts prepaid by the Company under the Agreement, in whole or in part (but not in an amount of less than $5,000 or any multiple of $5,000) on any Payment Date on or after January 1, 1989, at redemption prices (expressed as percentages of the principal amount of Bonds or portions thereof to be redeemed) as set forth below plus accrued interest to the payment Date of redemption: Redemption Dates Redemption Prices January 1, 1989 and July 1, 1989 January 1, 1990 and July 1, 1990 January 1, 1991 and July 1, 1991 January 1, 1992 and thereafter 103% 102% 101% 100% I n the event that the Bonds a re to be redeemed in pa rt, the Bonds to be redeemed shall be selected and redeemed by the Servicing Agent, on behalf of the Authority, on a reasonably proportionate basis from among the total principal amount of Bonds then outstanding based upon $5,000 increments applied to each $250,000 increment of the original principal amount of Bonds issued. Upon presentation and surrender of this Bond by the Owner hereof in person or by his EXHIBIT B 2