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ARTICLE IV REDEMPTION OF BONDS � Section 4.01. Terms of Redemption. (a) Extraordinary Casualty Redemntion. The Bonds are subject to redemption, in whole or in part.on any date, from the Net Proceeds of insurance or condemnation with respect to the Enterprise, which Net Proceeds are deposited in the Payment Fund and credited towards the prepayment of the Installment Payments made by the City pursuant to the Installment Purchase Contract, at a redemption price equal to the principal amount of the Bonds to be redeemed, together with accrued interest to the date fixed for redemption, without premium. (b) Optional Redemption. The Series 2013 Bonds maturing on or before February 1, 2023, are not subject to optional redemption prior to their respective stated maturities. The Series 2013 Bonds maturing on or after February l, 2024, are subject to optional redemption on any date on or after February 1, 2023, in whole or in part, from prepayments of the Installment Payments made at the option of the City pursuant to the Installment Purchase Contract, at a redemption price equal to the principal amount thereof to be redeemed together with accrued interest to the redemption date,without premium. (c) Purchase in Lieu of Redemption. In lieu, or partially in lieu, of such call and redemption, moneys of the Authority may be used to purchase Outstanding Bonds in the manner hereinafter provided. Purchases of Outstanding Bonds may be made by the Authority prior to the selection of Bonds for redemption by the Trustee, at public or private sale as and when and at such prices as the Authority m�y in its discretion .determine but only at prices (including brokerage or other expenses) of not more than par plus applicable accrued interest and redemption premiums, and any accrued interest payable upon the purchase of Bonds may be paid from the amount in the Payment Fund for payment of interest on the following Interest Payment Date. Section 4.02. Selection of Bonds for Redemption. In the everit that part, but not all, of the Bonds are to be redeemed, the Bonds to be redeemed shall be selected by the Trustee among maturities as designated in writing by the Authority and by lot within a maturity; provided, however, that, as shall be set forth in a Certificate of the Authority, the Bonds may be redeemed by any maturity or maturities selected by the City to correspond with Installment Payments prepaid by the City, and by lot within a maturity. For the purpose of the selection described in this Section, all Bvnds registered in the name of the same Owner shall be aggregated and treated as a single Bond held by such Owner. Notwithstanding any of the foregoing, in any such partial redemption the Trustee shall call the Bonds for redemptionin integral multiples of$5,000. ' In the event of a redemption for which the Trustee does not have monies available to redeem the entire amount scheduled for redemption, the Trustee shall redeem Bonds of the applicable maturity or maturities by lot up to a principal amou.nt equal to the available monies. � -25- � 338471 1.DOC