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Partial Redemption of Bonds. If fewer than all of the Bonds at the time outstanding are to be called <br /> for redemption,the maturities of Bonds or portions thereof to be redeemed shall be selected by the <br /> Trustee at the direction of the Issuer. If fewer than all of the Bonds within a maturity are to be <br /> redeemed, the Trustee shall apply moneys available for redemption in inverse order of maturity. <br /> The Trustee shall call for redemption in accordance with the foregoing provisions as many Bonds <br /> or portions thereof as will, as nearly as practicable; exhaust the moneys available therefor. <br /> If less than the entire principal amount of any registered Bond then outstanding is <br /> called for redemption,then upon notice of redemption given as provided in Section 5.2 hereof,the <br /> owner of such registered Bond may surrender such Bond to the Trustee in exchange for (a) <br /> payment of the redemption price of, plus accrued interest on the principal amount called for <br /> redemption and (b) a new Bond or Bonds of like series in an aggregate principal amount equal to <br /> the unredeemed balance of the principal amount of such registered Bond, which shall be issued <br /> without charge therefor. If the owner of a Bond elects not to surrender the Bond in exchange for <br /> a new Bond or Bonds in accordance with clause (b) in the preceding sentence, such owner shall <br /> make a notation indicating the principal amount of such redemption and the date thereof on the <br /> Bond; provided the failure of the owner to note the principal amount of any partial redemption or <br /> any inaccuracy therein, shall not affect the payment obligation of the Issuer thereunder. <br /> (End of Article V) <br /> 22 <br />