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as provided in the Indenture. Any such new fully registered <br /> Series 1992 Bond shall be dated as of the interest payment date <br /> negt preceding the date of its authentication, escept that if <br /> authenticated on an interest payment date, it shall be dated as <br /> of such date of authentication; provided that if at the time of <br /> authentication interest thereon is in default, it shall be <br /> dated as of the date to which interest has been paid. Each <br /> Series 1992 Bond shall be of a single maturity, egcept as <br /> otherwise provided in the Indenture. The Series 1992 Bonds <br /> shall be numbered consecutively from R-1 upwards in order of <br /> issuance. <br /> The Series 1992 Bonds shall bear interest at the rate <br /> of interest per annum as set forth in the certificate of the <br /> Issuer and approved by the Borrower and the Original Purchaser <br /> payable in New York Clearing House Funds or other comparable <br /> funds on each semiannual Interest Payment Date, commencing <br /> December 1, 1992, and continuing until the entire principal sum <br /> of $705, 000 is paid. Interest shall be calculated on a 360-day <br /> per year, 30-day month basis . <br /> The Series 1992 Bonds shall mature on June 1, 2007. <br /> The Series 1992 Bonds are subject to optional <br /> redemption, in whole on any date or in part on any Interest <br /> Payment Date, on or after June 1, 2002, in the event of <br /> prepayment of the Note in full or in part as provided by the <br /> first paragraph of Section 6 . 1 of the Loan Agreement. The <br /> redemption date in any such event shall be the date set by the <br /> Borrower for prepayment of the Note in accordance with the <br /> provisions of such paragraph. The redemption price in any such <br /> event shall be equal to the following percentages of the <br /> principal amount redeemed, plus in each case accrued interest <br /> to the date fized for redemption: <br /> Redemption Date Redemption Price <br /> June 1, 2002 through May 31, 2003 102% <br /> June 1, 2003 through May 31, 2004 101% <br /> June 1, 2004 and thereafter 100% <br /> The Series 1992 Bonds are also subject to optional <br /> redemption in whole only in the event of the e$ercise by the <br /> Borrower of its option to prepay the Note in full as provided <br /> in the fourth paragraph of Section 6 . 1 of the Loan Agreement, <br /> at a redemption price of 100� of the principal balance of the <br /> Series 1992 Bonds outstanding on the date of redemption, plus <br /> accrued interest to the redemption date. <br /> - 9 - <br />