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<br />redeemed and each participant will then select by lot the beneficial ownership interest in such <br />maturity to be redeemed. <br /> <br />(To be used if term bonds are included) <br /> <br />4.02. Bonds maturing in the year(s) (the "Term Bonds") are <br />subject to mandatory redemption on June 1 in the years and principal amounts as follows: <br /> <br />Mandatory Redemption Schedule <br /> <br />Term Bonds Due <br /> <br />Term Bonds Due <br /> <br />Redemption <br />(June 1) <br /> <br />Amount <br /> <br />Redemption <br />(June 1) <br /> <br />Amount <br /> <br />Term Bonds Due <br /> <br />Term Bonds Due <br /> <br />Redemption <br />(June 1) <br /> <br />Redemption <br />(June 1) <br /> <br />Amount <br /> <br />Amount <br /> <br />or, if less than such amount is then outstanding, an amount equal to the aggregate principal <br />amount of the Bonds then outstanding. The City may, at its option, to be exercised on or before <br />the thirtieth day preceding any mandatory redemption date specified above deliver to the <br />Registrar written notice which shall (a) specify a principal amount of Term Bonds previously <br />redeemed (otherwise than pursuant to the above Mandatory Redemption Schedule) or purchased <br />and cancelled by the Registrar and not theretofore applied as a credit against any redemption of <br />Term Bonds pursuant to the above Mandatory Redemption Schedule, and (b) instruct the <br />Registrar to apply the principal amount of such Term Bonds so delivered or previously redeemed <br />or purchased and cancelled for credit against the principal installments to be prepaid pursuant to <br />the Mandatory Redemption Schedule. Each such Term Bond so delivered or previously <br />redeemed or purchased and cancelled shall be credited by the Registrar in the order directed by <br />the City at succeeding and future principal installments to be prepaid pursuant to the Mandatory <br />Redemption Schedule. <br /> <br />The specific Term Bonds to be redeemed will be selected by lot by the Registrar. All <br />prepayments will be at a price of par plus accrued interest. <br /> <br />Section 5. <br /> <br />Registration and Payment. <br /> <br />5.01. The Bonds shall be issued only in fully registered form. The interest thereon and, <br />upon surrender of each Bond, the principal amount thereof, is payable by check or draft issued <br />by the Registrar described herein. <br /> <br />6 <br />