<br />e
<br />
<br />e
<br />
<br />ORiGINAL
<br />
<br />Section 4.09. Notice of Redemption. Notice of redemption shall be given by the Bank in the name at
<br />the expense of the Issuer not less than 30 or more than 45 days prior to the date of redemption, to each Registered
<br />Owner of Securities to be redeemed and otherwise required by the Ordinance.
<br />
<br />All notices of redemption shall include the CUSIP number and statement as to:
<br />
<br />(a) the date of redemption;
<br />
<br />(b) the price of the Securities expressed as a percentage of par amount of the Securities;
<br />
<br />(c) the principal amount of Securities to be redeemed, and, if less than all outstanding Securities are to
<br />be redeemed, the identification (and, in case of partial redemption, the principal amounts) of the Securities to be
<br />redeemed;
<br />
<br />(d) that on the date of redemption the principal of each of the Securities to be redeemed will become due
<br />and payable and that the interest thereon shall cease to accrue from and after said date; and
<br />
<br />(e) that the Securities to be redeemed are to be surrendered for payment of the price stated in the notice
<br />of redemption at the designated principal payment office of the Bank, and the address of such office.
<br />
<br />The Bank shall, at the expense of the Issuer, provide notice to designated securities depositories and
<br />information services based upon the then current guidelines of the Securities and Exchange Commission relating
<br />to redemptions and refundings of municipal bonds, including the Securities. The Bank, at the expense of the
<br />Issuer, shall also provide notice to any other addressees as the Issuer shall designate in writing.
<br />
<br />ARTICLE V. THE BANK
<br />
<br />Section 5.01. Duties of Bank. The Bank undertakes to perform the duties set forth herein and agrees
<br />to use reasonable care in the performance thereof.
<br />
<br />Section 5.02. Reliance on Documents. Etc. (a) The Bank may conclusively rely, as to the truth of the
<br />statements and correctness of the opinions expressed therein, on certificates or opinions furnished to the Bank.
<br />
<br />(b) The Bank shall not be liable for any error of judgment made in good faith by a Responsible Officer,
<br />unless it shall be proved that the Bank was negligent in ascertaining the pertinent facts.
<br />
<br />(c) No provisions of this Agreement shall require the Bank to expend or risk its own funds or otherwise
<br />incur any financial liability for performance of any of its duties hereunder, or in the exercise of any of its rights
<br />or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity
<br />satisfactory to it against such risks or liability is not assured to it.
<br />
<br />(d) The Bank may rely and shall be protected in acting or refraining from acting upon any resolution,
<br />certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, note, security,
<br />or other paper or document believed by it to be genuine and to have been signed or presented by the proper party
<br />or parties. Without limiting the generality of the foregoing statement, the Bank need not examine the ownership
<br />of any Securities, but is protected in acting upon receipt of Securities containing an endorsement or instruction
<br />of transfer or power of transfer which appears on its face to be signed by the Holder or an agent of the Holder.
<br />The Bank shall not be bound to make any investigation into the facts or matters stated in a resolution, certificate,
<br />statement, instrument, opinion, report, notice, request, direction, consent, order, bond, note, security, or other paper
<br />or document supplied by Issuer.
<br />
<br />A-5
<br />
|