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REDEMPTION <br />The Project Bonds are subject to redemption prior to stated <br />maturity pursuant to first class mailed notice thereof by the <br />Trustee at least 30 days prior to the redemption date, as <br />follows: <br />(a) M_andatory Sinkin Fund Redem tion. The Project <br />Bonds are subject to mandatory redemption pursuant to <br />mandatory sinking fund requirements, at a redemption price <br />of 100 percent of the principal amount redeemed plus <br />interest accrued to the redemption date, on August 1, in the <br />following principal amounts in the years specified below: <br />Date of Principal Principal Amount <br />Redemption _to be Redeemed <br />August 1, 1990 $ 60,000 <br />August 1, 1991 60,000 <br />August 1, 1992 65,000 <br />August 1, 1993 70,000 <br />August 1, 1994 75,000 <br />August 1, 1995 80,000 <br />August 1, 1996 85,000 <br />August 1, 1997 90,000 <br />August 1, 1998 95,000 <br />August 1, 1999 105,000 <br />August 1, 2000 110,000 <br />August 1, 2001 115,000 <br />August 1, 2002 125,000 <br />August 1, 2003 135,000 <br />August 1, 2004 140,000 <br />The Issuer, or the Borrower on behalf of the Issuer, <br />shall have the option to deliver to the Registrar for <br />cancellation Project Bonds in any aggregate principal amount <br />and to receive a credit against the then current mandatory <br />sinking fund requirement (and corresponding mandatory <br />redemption obligation) of the Issuer as set forth in the <br />table above for any Project Bonds. <br />(b) Mandatory Redemption Upon a Determination of <br />Taxability. Upon the occurrence of a Determination of <br />Taxability, as defined in the Indenture, the Project Bonds <br />are subject to mandatory redemption in whole at a redemption <br />price equal to 100 of the outstanding principal amount <br />thereof, plus interest accrued to the redemption date, at <br />the earliest practicable date selected by the Trustee, after <br />consultation with the Borrower, but in no event later than <br />45 days following the Trustee's notification of the <br />Determination of Taxability. If the Determination of <br />Taxability is caused by actions within the control of the <br />Borrower, a premium shall be payable to the Holder hereof in <br />-15- <br />