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"First Optional Redemption Date" means the August 1 <br />occurring in the year which is a number of years after the <br />Fixed Interest Rate Commencement Date equal to the number of <br />full years between the Fixed Interest Rate Commencement Date <br />and the maturity date of the Project Bonds, multiplied by <br />1/2 and rounded up to the nearest whole number. <br />"Fixed Interest Rate Commencement Date" means the Interest <br />Period Reset Date from and after which the Project Bonds <br />shall bear interest at the Fixed Interest Rate, as that date <br />shall be established as provided in the Indenture. <br />(e) Extraordinary 0 tional Redem tion. The Project <br />Bonds are also subject to redemption by the Issuer in the <br />event of the exercise by the Borrower of its option to <br />direct that redemption upon occurrence of any of the events <br />described in Section 4.3 of the Agreement (generally, <br />substantial damage to, or destruction or condemnation of, <br />the Project or changes in law causing the Agreement to <br />become void, unenforceable or impossible of performance or <br />the imposition of unreasonable burdens or excessive <br />liabilities with respect to the Project or its operation), <br />(a) at any time in whole, or (b) on any Interest Payment <br />Date in part in the event of condemnation of part of the <br />Project, as provided in Section 4.3 of the Agreement, in <br />each case, at a redemption price of 100 of the principal <br />amount redeemed, plus interest accrued to the redemption <br />date. <br />If less than all Project Bonds are to be redeemed at one <br />time, the selection of Project Bonds, or portions thereof in <br />amounts of $5,000 or any integral multiple thereof, to be <br />redeemed shall be made by lot by the Trustee. If Project Bonds <br />or portions thereof are called for redemption and if on the <br />redemption date moneys for the redemption thereof are held by the <br />Trustee, thereafter those Project Bonds or portions thereof to be <br />redeemed shall cease to bear interest, and shall cease to be <br />secured by, and shall not be deemed to be outstanding under, the <br />Indenture. <br />APPROVING LEGAL OPINION <br />An originally executed opinion is on file at the office <br />of the Trustee. <br />-17- <br />