Regarding Issurance of economic development revenue refunding bonds Regency Place Project

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SENT BY:KUTAKROCK ;11- 4-92 ; 2:27PM ; 2022230491-0 12192371125#35 Section 303. Partial Redemption. (a) If a redemption occurs of less than all the Outstanding Bonds of a particular maturity pursuant. to Section 301 above, the particular Bonds to be redeemed within each maturity shall be selected by the Trustee by lot subject to the provisions of paragraph (b) below. (b) If a redemption of less than all the Outstanding Bonds pursuant to the provisions of Section 301(a), (c), (d), (e) or (t) hereof occurs, the Trustee shall redeem a principal amount of Bonds of each maturity (and shall reduce the scheduled mandatory redemptions provided in Section 301(b)hereof) so that the reduction in Debt Service on the Bonds during each six-month period ending on a Payment Date is reasonably proportionate to the decrease in scheduled payments on the Loan in such period. . (c) Notwithstanding the foregoing provisions of this Section 303, the Bonds shall be redeemed only in a principal amount of $5,000 or an integral multiple thereof. (d) Upon surrender of any Bond redeemed in part only, the Issuer shall execute and the Trustee shall authenticate and deliver to the holder thereof, without expense to such holder, a new Bond or Bonds of the same maturity and series and of authorized denominations equal in aggregate principal amount to the unredeemed portion of the Bond surrendered. The Trustee may employ such experts as it may deem necessary to advise it as to the manner of carrying out such redemption and is entitled to rely on such advice. Section 304. Selection of Bonds for Redemption. For purposes of selecting Bonds for redemption, Bonds shall be deemed to be composed of $5,000 portions and any such portion may be separately redeemed. The Trustee shall promptly notify the Issuer in writing of the Bonds or portions thereof selected for redemption: With respect to redemptions pursuant to Section 4.02(A) and (B) above, it less than all the Bonds are to be redeemed, the Bonds so to be redeemed shall be selected so that the Bonds maturing on February 1, 2012 shall first be redeemed until all such Bonds have been redeemed and then the Bonds maturing on August 1, 2012 shall be redeemed. All Bonds to be redeemed shall be selected by lot within a maturity in such manner as the Trustee may determine. The Trustee's selection of Bonds for redemption shall be final and conclusive. Section 305. Notice of Redemption. Except as provided below, notice of redemption shall be given not less than 30 nor more than 45 days prior to the date fixed for redemption by first-class mail, postage prepaid, to the registered owner of each Bond to be redeemed, at the address of such registered owner shown on the Bond Register, and a second notice of redemption shall be sent by certified mail, return receipt requested, at such address to the holder of any Bond who has not submitted his Bond to the Trustee for payment on or before the date 60 days following the date fixed for redemption of such Bond in each case stating: (i) the complete official caption of the issue of which the Bonds being redeemed are a part; (ii) the date of mailing of the notice of redemption; (iii) the date fixed for redemption; (iv) the redemption • 3152.1 7l