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.? <br /> <br /> <br />• ? <br />.?v <br /> ? <br />Tnis 3ond shall be subject to rlandatory redemption by the <br />Issuer in whole on Marc}z 1, 1980 or thereafter, at the option oF <br />tne Holder. The Holder's rignt to require th-2 redemption of <br />tC11S Band as aforesaid snall pe exercised by the giving of <br />written notice oF the e12ction of sach option to the IssueL and <br />the Company not later than six (b) months prio= to the date on <br />wnich the i-iol.der elects to nave this r3ond so redeemed. Upon <br />receiNt of such notice, the Issuer sha11, f_ro;n the Pledgec? <br />t22ceipts, redeem this Bond on the redemption date, at the <br />recse;nptiorz price of 100% of the outstandin<g principal balance o' <br />tnis Bond, plus accrued intere:st to sucn date. In the event of <br />such election by the Holder, Company shall have the sole option <br />oi extendinj the i-Liaturity date of the Borid far up to five (5) <br />adc3itional _years by the payment of an annual f>e to the r3older <br />of $10,000.00 z>er year for eacYi year_ the Inaturity da`e is <br />2xtended, wiZich annual fees shall be considerea as adciitional <br />interest. This o;otion to extenc: the maturity dace sha_ll be <br />exercised by payment of the annual f_ee by the Company not later <br />Lhan one hundred rifty (150) days af_ter the Holder has given <br />svritten notice of this election to accelerate, and in subsequent <br />years, shall be exercised by payment of the annual fee by the <br />Company on the anniversary date oz the iirst such payment. This <br />option to extend the rnatur_ ity date rnay not be exercised by the <br />Company so as to extend the maturity date beyond the tenth <br />( 1Gth) year after Lhe Completion Date as defined in the <br />Agreem2nt. <br />If there is a Final Determination, as hereinafter de.fined, <br />this Bond shall be redeerne<i by the Issuer within sixty (60) days <br />afrer such deterinination at 10096 of the principal amount oF the <br />Bond outstanding, plus accrued interest to such redernption date <br />and any premiums and interest, if any, assessed by the Internal <br />Revenue Service against the Holder, and shall bear interest at <br />the Taxable Rate, as hereinafter defined, from the date as of <br />which interest is determined to be so includable (the "Taxable <br />Date") until such redemption date. As used 'nerein, the "Taxable <br />Rate" shall ;nean fifteen percent (150). As used herein, a <br />"Final Determination" shall mean a determination that the <br />interest income on the Project Bond is subject to Federal income <br />taxation as a result of the occurrence of an Event of <br />Taxability, as defined hereinafter, which determination shall be <br />deemed to have been made upon the first to occur of the <br />follocaing: <br />(a) The date on which the Company determines tnat the <br />interest incone on the Project Bond is subject to Federal <br />income taxation by filing with the Holder a statement to <br />that effect, supported by any tax schedule, return or <br />document which discloses that an Ev2nt of Taxability has <br />occurred; or <br />4