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<br />21 <br />ARTICLE V. <br />REDEMPTION OF BONDS BEFORE MATURITY <br />Redemption Dates and Prices. The Bonds maturing on or after __________ 1, 20___, are subject <br />to redemption prior to maturity at the option of the Issuer on or after __________ 1, 20___, upon <br />thirty (30) days’ notice, in whole or in part, in order of maturity determined by Issuer and by lot <br />within maturities, at face value, plus accrued interest to the date fixed for redemption. <br /> <br />If fewer than all of the Bonds at the time outstanding are to be called for redemption, <br />the maturities of Bonds or portions thereof to be redeemed shall be in inverse order of maturity. If <br />fewer than all of the Bonds within a maturity are to be redeemed, the Trustee shall apply moneys <br />available for redemption on a pro rata basis, based on the respective portion of the principal amount <br />of Bonds held by the respective owners of the Bonds within such maturity that shall be redeemed. <br />Notice of Redemption. In the case of redemption of Bonds pursuant to Section 5.1 hereof, notice <br />of the call for any such redemption identifying the Bonds, or portions of fully registered Bonds, to <br />be redeemed shall be given by mailing a copy of the redemption notice by first class mail not less <br />than thirty (30) days nor more than sixty (60) days prior to the date fixed for redemption to the <br />registered owner of each Bond to be redeemed at the address shown on the registration books. <br />Such notice of redemption shall specify the Bond numbers and called amounts of each Bond, the <br />redemption date, redemption price, interest rate, maturity date and the name and address of the <br />Trustee; provided, however, that failure to give such notice by mailing, or any defect therein, with <br />respect to any such registered Bond shall not affect the validity of any proceedings for the <br />redemption of other Bonds. In the event of a partial redemption the Bonds shall be redeemed in <br />inverse order of maturity. <br />On and after the redemption date specified in the aforesaid notice, such Bonds, or <br />portions thereof, thus called shall not bear interest, shall no longer be protected by this Indenture <br />and shall not be deemed to be outstanding under the provisions of this Indenture, and the holders <br />thereof shall have the right only to receive the redemption price thereof plus accrued interest <br />thereon to the date fixed for redemption. <br />Cancellation. All Bonds which have been redeemed in whole shall be canceled and cremated or <br />otherwise destroyed by the Trustee and shall not be reissued and a counterpart of the certificate of <br />cremation or other destruction evidencing such cremation or other destruction shall be furnished <br />by the Trustee to the Issuer upon request. <br />Redemption Payments. Prior to the date fixed for redemption in whole, funds shall be deposited <br />with Trustee to pay, and Trustee is hereby authorized and directed to apply such funds to the <br />payment of the Bonds or portions thereof called, together with accrued interest thereon to the <br />redemption date. Upon the giving of notice and the deposit of funds for redemption, interest on the <br />Bonds thus called shall no longer accrue after the date fixed for redemption. No payment in full <br />shall be made by the Trustee upon any Bond until such Bond shall have been delivered for payment <br />or cancellation or the Trustee shall have received the items required by Section 2.8 hereof with <br />respect to any mutilated, lost, stolen or destroyed Bond.