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<br />A-3 <br />funds, at a redemption price equal the principal amount of the Bonds to be redeemed, plus <br />accrued interest to the date of redemption, without premium. <br /> <br />The Bonds are also subject to redemption as a whole, or in part by lot, on any date, to <br />the extent of any net proceeds of hazard or title insurance with respect to the Water System or <br />any portion thereof which are not used to repair or replace the Water System pursuant to the <br />Installment Sale Agreement, or to the extent of any net proceeds arising from the disposition of <br />the Water System or any portion thereof in eminent domain proceedings which the City elects to <br />be used for such purpose pursuant to the Installment Sale Agreement, at a redemption price <br />equal to the principal amount thereof plus interest accrued thereon to the date fixed for <br />redemption, without premium. <br /> <br />The Bonds maturing April 1, _____, and April 1, _____ (the “Term Bonds”) shall also be <br />subject to redemption in whole, or in part by lot, on April 1 in each of the years as set forth in the <br />following table, from deposits made for such purpose pursuant to the Indenture, at a redemption <br />price equal to the principal amount thereof to be redeemed together with accrued interest <br />thereon to the redemption date, without premium, or in lieu thereof shall be purchased pursuant <br />to the Indenture, in the aggregate respective principal amounts and on the respective dates as <br />set forth in the following table; provided, however, that if some but not all of the Term Bonds <br />have been redeemed pursuant to the optional or mandatory redemption provisions described <br />above, the total amount of all future payments with respect to such Term Bonds shall be <br />reduced by the aggregate principal amount of such Term Bonds so redeemed, to be allocated <br />among such payments on a pro rata basis in integral multiples of $5,000 as determined by the <br />Authority (written notice of which determination shall be given by the Authority to the Trustee). <br /> <br />Term Bonds Maturing April 1, ______ <br /> <br />Sinking Fund <br />Redemption Date <br />(April 1) <br />Principal <br />Amount To Be <br />Redeemed <br /> <br /> <br /> <br />Term Bonds Maturing April 1, ______ <br /> <br />Sinking Fund <br />Redemption Date <br />(April 1) <br />Principal <br />Amount To Be <br />Redeemed <br /> <br /> <br /> <br />As provided in the Indenture, notice of redemption will be mailed by the Trustee by first <br />class mail not less than 20 nor more than 60 days prior to the redemption date to the respective <br />owners of any Bonds designated for redemption at their addresses appearing on the registration <br />books of the Trustee, but neither failure to receive such notice nor any defect in the notice so <br />mailed shall affect the sufficiency of the proceedings for redemption or the cessation of accrual <br />of interest thereon from and after the date fixed for redemption. <br /> <br />If this Bond is called for redemption and payment is duly provided therefor as specified in <br />the Indenture, interest shall cease to accrue hereon from and after the date fixed for <br />redemption. <br />Page 65 of 205