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THE PARTICULAR TERM BONDS to be redeemed shall be selected by the Registrar <br />by lot or other customary random selection method, on or before February 1 of each year in <br />which Term Bonds are to be mandatorily redeemed. The principal amount of Term Bonds to be <br />mandatorily redeemed in each year shall be reduced by the principal amount of such Term Bonds <br />that have been optionally redeemed on or before February 1 of such year and which have not <br />been made the basis for a previous reduction. <br />BONDS MAY BE REDEEMED IN PART only in integral multiples of $5,000. If a <br />Bond subject to redemption is in a denomination larger than $5,000, a portion of such Bond may <br />be redeemed, but only in integral multiples of $5,000. In selecting portions of Bonds for <br />redemption, each Bond shall be treated as representing that number of Bonds of $5,000 <br />denomination which is obtained by dividing the principal amount of such Bond by $5,000. Upon <br />surrender of any Bond for redemption in part, the Paying Agent/Registrar, in accordance with the <br />provisions of the Ordinance, shall authenticate and deliver in exchange therefor a Bond or Bonds <br />of like maturity and interest rate in an aggregate principal amount equal to the unredeemed <br />portion of the Bond so surrendered. <br />NOTICE OF ANY SUCH REDEMPTION, identifying the Bonds or portions thereof to <br />be redeemed, shall be sent by United States mail, first class, postage prepaid, to the Registered <br />Owners thereof at their addresses as shown on the books of registration kept by the Paying <br />Agent/Registrar, not less than thirty (30) days before the date fixed for such redemption. By the <br />date fixed for redemption, due provision shall be made with the Paying Agent/Registrar for the <br />payment of the redemption price of the Bonds called for redemption. If such notice of <br />redemption is given, and if due provision for such payment is made, all as provided above, the <br />Bonds which are to be so redeemed thereby automatically shall be redeemed prior to their <br />scheduled maturities, they shall not bear interest after the date fixed for redemption, and they <br />shall not be regarded as being outstanding except for the purpose of being paid with the funds so <br />provided for such payment. <br />THIS BOND IS TRANSFERABLE only upon presentation and surrender at the office of <br />the Paying Agent/Registrar, accompanied by an assignment duly executed by the Registered <br />Owner or its authorized representative, subject to the terms and conditions of the Ordinance. <br />THIS BOND IS EXCHANGEABLE at the office of the Paying Agent/Registrar for a <br />Bond or Bonds of the same maturity and interest rate and in the principal amount of $5,000 or <br />any integral multiple thereof, subject to the terms and conditions of the Ordinance. <br />THE PAYING AGENT/REGISTRAR is not required to accept for transfer or exchange <br />any Bond called for redemption, in whole or in part, during the forty-five (45) day period <br />immediately prior to the date fixed for redemption; provided, however, that such limitation shall <br />not apply to the transfer or exchange by the Registered Owner of an unredeemed portion of a <br />Bond called for redemption in part. <br />THE CITY OR PAYING AGENT/REGISTRAR may require the Registered Owner of <br />any Bond to pay a sum sufficient to cover any tax or other governmental charge that may be <br />A-9 <br />HOU:3622910.1 <br />