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<br />22 <br />Section 5.5. Partial Redemption of Bonds. If fewer than all of the Bonds at the <br />time outstanding are to be called for redemption, the maturities of Bonds or portions thereof to be <br />redeemed shall be selected by the Trustee at the direction of the Issuer. If fewer than all of the <br />Bonds within a maturity are to be redeemed, the Trustee shall apply moneys available for <br />redemption in inverse order of maturity. The Trustee shall call for redemption in accordance with <br />the foregoing provisions as many Bonds or portions thereof as will, as nearly as practicable; <br />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)