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<br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />_,"4'~'.,""" <br /> <br />~",. ...'~,,' <br /> <br />Bonds to be redeemed shall be selected and redeemed in the following order .of <br />priority: (i) first, to the redemption of Bonds maturing May 1, 1996; (ii) <br />second, to the redemption of all Bonds maturing May 1, 2002; and (iii) lastly, <br />on a pro rata basis to the redemption of the remaining Bonds. The Bonds are <br />redeemable in the manner provided in the Resolution and by lot within a <br />maturity, at a redemption price (expressed as percentages of the principal <br />amount of the Bonds or portions thereof to be redeemed) set forth below, plus <br />in each case accrued interest to the redemption date: <br /> <br />Period <br />(B.oth Dates Inclusive) <br /> <br />May 1, 1991, to April 30, 1993 <br />May 1, 1993, to April 30, 1996 <br />May 1, 1996, to April 30, 1999 <br />May 1,1999, and thereafter <br /> <br />Redemption <br />Prices <br /> <br />103% <br />102% <br />101% <br />100% <br /> <br />The Bonds are also subject to special mandat.ory redemption on or after <br />May 1. 1982. in whole .or in part pro rata by maturity, in the manner provided <br />in the Resolution, and by lot within a maturity, at the principal amount <br />thereof and accrued interest thereon, without premium, from funds in the prior <br />redemption fund. Bands to be redeemed from am.ounts deposited in the Prior <br />Redemption Fund in accordance with subdivision (i) of this paragraph shall be <br />selected and redeemed in accordance with the provisions .of the Resolution. <br />Bands to be redeemed in part in accordance with subdivisi.ons (ii) and (iii) of <br />this paragraph shall be selected and redeemed in the foll.owing order of <br />priority: (1) first, to the redemption of Bands maturing May 1, 1996; (2) <br />second, to the redemption of Bonds maturing May 1, 2002; and (3) lastly, to <br />the redemption .of the remaining Bands. The following amounts are required to <br />be dep.osited in the prior redemption fund: (i) amounts in the mortgage loan <br />program account that have not been appl ied to the purchase of the Mortgage <br />Loan Participation or to make the Loan to Lender within thirty-four months of <br />the date of delivery of the Bonds; (ii) after May 1, 1982, amounts in the <br />Asset Accumulation Fund; and (iii) prepayment of the .Loan pursuant to Section <br />2.4 of the Loan Agreement. <br /> <br />The term Bands shall be subject t.o redemption in part by lot by <br />operation of sinking fund installments as provided in the Resolution, at a <br />redemption price equal to the principal amount of each Bond or portion thereof <br />to be redeemed, together with accrued interest to the date of redemption, <br />without premium (unless any such principal amount shall be reduced as provided <br />in the Resolution by reason of earlier redemption of Bonds). Sinking fund <br />installments shall be made with respect to the term Bonds as follows: <br /> <br />74 <br />