11-14-01 1. INDENTURE OF TRUST - Laserfiche WebLink

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Section 3.06 Cancellation of Redeemed Bonds. All Bonds redeemed in accordance with this Indenture or any applicable Supplemental Indenture shall forthwith be canceled and destroyed by the Trustee and a certificate of destruction furnished to the City;and no further Bonds shall be executed or authenticated or issued hereunder in exchange or substitution therefor. Section 3.07 Partial Redemption of Bonds. If less than all of the Bonds of a particular Series and maturity at the time outstanding are to be called for prior redemption,the particular Bonds or portions thereof of such Series or maturity to be redeemed shall be selected by lot,except as otherwise provided herein,by the Trustee in such manner as the Trustee, in its discretion, may determine. In the event less than all the Bonds are to be redeemed,the Trustee shall select the Bonds to be redeemed on a reasonably proportionate basis among all outstanding Series of the Bonds,such basis for each Series to be determined and effectuated as nearly as practicable by the Trustee by multiplying the total amount of money available to redeem Bonds on the redemption date by the ratio which the original principal amount of all Bonds in each bears to the total original principal amount of Bonds redeemed within a Series and shall be selected by random selection in any manner deemed fair by the Trustee. In the case of Bonds of denominations greater than $5,000, if less than all of such Bonds then outstanding are to be called for redemption,then for all purposes in connection with redemption,each$5,000 of principal amount shall be treated as though it was a separate Bond of the denomination of$5,000.If it is determined that one or more,but not all of the$5,000 units of principal amount represented by any such fully registered Bond is to be called for redemption,then upon notice of intention to redeem such$5,000 unit or units, the owner of such fully registered Bond shall forthwith surrender such Bond to the Trustee (1) for payment of the redemption price(including the redemption premium, if any, and interest to the date fixed for redemption)of the$5,000 unit or units of principal amount called for redemption and(2)exchange for a new Bond or Bonds of the aggregate principal amount of the unredeemed balance of the principal amount of such fully registered Bond shall be issued to the registered owner thereof,without charge therefor. If the owner of any such fully registered Bond of a denomination greater than $5,000 shall fail to present such Bond to the Trustee for payment and exchange as aforesaid,such Bond shall nevertheless become due and payable on the date fixed for redemption to the extent of the$5,000 unit or units of principal amount called for redemption(and to that extent only). Interest shall cease to accrue on the portion of the principal amount of such Bond represented by such $5,000 unit or units of principal amount on and after the date fixed for redemption provided that funds sufficient for the payment of the redemption price shall have been deposited with the Trustee and shall be available for the redemption of said$5,000 unit or units on the date fixed for redemption,and in such event,such Bond shall not be entitled to the benefit or security of this Indenture,the Loan Agreement,the Mortgage(if a Senior Bond),the Subordinate Mortgage(if a Subordinate Bond)or the Bond Resolution to the extent of the portion of its principal amount(and accrued interest thereon to the date fixed for redemption and applicable premium, if any)represented by such $5,000 unit or units of principal amount,nor shall new Bonds be thereafter issued corresponding to said unit or units. [The balance of thispagintentionally e is left blank.] - 31 -