PRILIMINARY OFFIC STATEMENT 11-15-2001 44.

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selected by lot in such manner as the Trustee shall designate at a redemption price equal to the principal amount thereof to be redeemed, plus accrued interest to the redemption date, plus a premium, as follows: Redemption Date Premium November 1, 2006 through October 31, 2007 102% November 1, 2007 through October 31, 2008 101% November 1, 2008 and thereafter None The Series 2001 Tax-Exempt Bonds shall be redeemed in the following order of priority: first, the Series 2001A Bonds, and second, the Subordinate Bonds. Optional Redemption Due to Casualty or Condemnation. All Series 2001 Bonds are subject to redemption and prepayment prior to maturity at any time on any Business Day,in whole but not in part,at the principal amount thereof,plus accrued interest to the redemption date, and without premium, upon the optional prepayment by the Borrower of amounts payable under the Loan Agreement in the event of(a) certain damage or destruction to the Project, (b) the Project or any portion thereof is condemned or taken for any public use, or (c) as a result of any changes in laws or as a result of a judicial or administrative determination, the Loan Agreement shall become void, unenforceable or impossible to perform, all as further explained in Appendix A under "The Loan Agreement-Damage or Destruction; Condemnation;" provided, however, that the Series 2001 Bonds shall be redeemed in the following order of priority: first, the Senior Bonds, and second, the Subordinate Bonds. Mandatory Redemption Upon Determination of Taxability. Upon the occurrence of a Determination of Taxability (as defined in Appendix A to this Official Statement), all outstanding Series 2001 Bonds are subject to mandatory redemption and prepayment prior to maturity on the first Business Day for which notice can be duly given hereunder after the Borrower receives notice that a Determination of Taxability has occurred,at their principal amount plus accrued interest to the redemption date,and unless the Borrower shall cause to be delivered to the Trustee a written opinion of Bond Counsel to the effect that the Determination of Taxability was not caused by an action taken or not taken by the Borrower, plus a premium equal to 3% of the principal amount of the Series 2001 Bonds to be redeemed;provided,however,that the Series 2001 Bonds shall be redeemed in the following order of priority: first, the Senior Bonds, and second, the Subordinate Bonds. Special Redemption of Subordinate Bonds. On each December 1, beginning December 1, 2003, the Subordinate Bonds are subject to redemption at a redemption price of 100% of the outstanding principal amount thereof to be redeemed plus accrued interest to the redemption date. Subordinate Bonds shall be redeemed with moneys transferred from the Surplus Fund to the Optional Redemption Account and available for such purpose. Selection of Series 2001 Bonds for Partial Redemption. If less than all of the Bonds