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<br />(d) Selection of Bonds for Redemption. If less than all of the <br />Outstanding Bonds of a Stated Maturity are to be redeemed on a redemption date, <br />the Paying Agent/Registrar shall select at random and by lot the Bonds to be <br />redeemed; provided, however, that if less than the entire amount of a Bond is to be <br />redeemed, the Paying Agent/Registrar shall treat such Bond then subject to <br />redemption as representing the number of Outstanding Bonds which is obtained by <br />dividing the principal amount of such Bond by $5,000. The Paying Agent/Registrar <br />shall promptly notify the City in writing of the Bonds selected for redemption and, <br />in the case of any Bond selected for partial redemption, the principal amount of <br />such Bond to be redeemed. <br /> <br />(e) Notice of Redemption. Not less than 30 days prior to a redemption <br />date for the Bonds the City shall cause a notice of redemption to be sent by United <br />States mail, first class postage prepaid, to each registered owner of a Bond to be <br />redeemed in whole or in part at the address of the registered owner appearing on the <br />Registration Books at the time such notice of redemption is mailed. Any notice of <br />redemption so mailed shall be conclusively presumed to have been duly given <br />whether or not received by the Holder. <br /> <br />All notices of redemption shan state 0) the date of redemption for the Bonds, <br />(ii) the identity of the Bonds to be redeemed and, in the case of a portion of the <br />principal amount to be redeemed, the principal amount thereof to be redeemed, (Hi) <br />that on the redemption date the redemption price of each of the Bonds to be <br />redeemed will become due and payable and that interest thereon, or on the portion <br />of the amount thereof to be redeemed, as applicable, shan cease to accrue from and <br />after the redemption date, and (iv) that payment of the redemption price for the <br />Bonds, or the principal amount thereof to be redeemed, shall be made at the <br />principal corporate office of the Paying Agent/Registrar only upon surrender <br />thereof by the Holder. <br /> <br />(0 Effect of Redemption. If a Bond is subject by its terms to prior <br />redemption and has been called for redemption, and notice of redemption thereof <br />has been duly given as hereinabove provided, such Bond, or the principal amount <br />thereof to be redeemed, so called for redemption shall become due and payable, and, <br />if moneys sufficient for the payment of the redemption price of such Bond, or the <br />principal amount thereof to be redeemed, are held by the Paying Agent/Registrar <br />for the purpose of making such payment, then interest on such Bond, or the principal <br />amount thereof to be redeemed, caned for redemption shall cease to accrue on the <br />redemption date stated in such notice of redemption, and such Bond, or the principal <br />amount thereof to be redeemed, shall not be deemed to be Outstanding hereunder. <br /> <br />(g) Partial Redemption. If a portion of any Bond shall be redeemed, <br />then, upon surrender of such Bond as hereinabove provided, a new Bond or Bonds <br />having the same Stated Maturity, bearing interest at the same rate, in the principal <br />amount of such Bond not redeemed and in any denomination or denominations in any <br />integral multiple of $5,000, will be issued to the registered owner upon surrender of <br />such Bond for cancellation, without service charge to the registered owner thereof. <br /> <br />1037f <br /> <br />-5- <br />