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treat the person in whose name this Bond is registered as the absolute owner hereof for the <br /> purpose of receiving payment of, or on account of, the principal, premium, if any, and interest <br /> due hereon and for all other purposes, and neither the City nor the Bond Trustee shall be affected <br /> by any notice to the contrary. The Bond Trustee shall not be required to register the transfer of <br /> or exchange any Series 2010 Bond after notice calling such Bond or portion thereof for <br /> redemption has been given as provided in the Bond Indenture, or during the period of 15 days <br /> next preceding the mailing of such notice of redemption with respect to any',IBonds of the same <br /> maturity. <br /> The Bonds are issuable only as registered Bonds in denominations of $100,000 and <br /> integral multiples of$500 in excess thereof. <br /> Outstanding Bonds are also subject to redemption prior to maturity at the option of the <br /> City upon direction of the Corporation out of amounts prepaid on the Seri2010 Obligations <br /> and deposited in the Optional Redemption Fund established under the Bond Indenture, in whole <br /> or in part at any time (and if in part in an authorized denomination and pro rata among series), at <br /> par (100.00% of the principal amount of Bonds to be redeemed) plus accrued interest thereon to <br /> the date of redemption. <br /> The Bonds are also redeemable out of proceeds received from insurance, condemnation <br /> and sale under threat of condemnation under certain conditions, in whole or in part and if in part, <br /> pro rata among series and in inverse order of maturity, without premium, all as provided in the <br /> Bond Indenture. <br /> In the event any of the Bonds are called for redemption as aforesaid, notice thereof <br /> identifying the Bonds to be redeemed will be given by mailing a copy of the redemption notice <br /> by first class mail, postage prepaid, not less than 10 nor more than 30 days prior to the date fixed <br /> for redemption to the registered owner of each Series 2010 Bond to be redeemed at the address <br /> shown on the Bond Register; provided, however, that failure to give such n tice by mailing, or <br /> any defect in such notice or mailing as to any Series 2010 Bond shall not affect the validity of <br /> any proceedings for redemption as to any other Series 2010 Bond for which notice was <br /> adequately given. All Bonds so called for redemption will cease to bear interest on the specified <br /> redemption date, provided sufficient funds for their redemption are on deposit at the place of <br /> payment at that time, and shall no longer be protected by the Bond Indenture and shall not be <br /> deemed to be outstanding under the provisions of the Bond Indenture. <br /> The Bonds are subject to advance defeasance of the Bond Indenture by depositing with <br /> the Bond Trustee cash, noncallable U.S. Government Obligations (as de�tlo <br /> ned in the Bond <br /> Indenture) or both in an amount, together with the income or increment accrue thereon, <br /> without consideration of any reinvestment thereof, sufficient to pay or redeem (when <br /> redeemable) and discharge the indebtedness on all Bonds of all series ou tanding under the <br /> Bond Indenture at or before their respective maturity dates. The Bonds are also subject to <br /> advance defeasance of the Bond Indenture by depositing with the Bond Trustee cash, noncallable <br /> U.S. Government Obligations or both in an amount, without consideration of any income or <br /> increment to accrue thereon, sufficient to pay or redeem (when redeemable and discharge the <br /> indebtedness on all Bonds of all series outstanding under the Bond Indenturie at or before their <br /> 4 <br />