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thereafter shall, at the option of the Issuer, be redeemable in
<br />whole or in part, in inverse numerical and maturity order, on
<br />September 1, 1992, or on any interest payment date thereafter at
<br />par and accrued interest, plus the following premiums, expressed
<br />as percentages of the par value of the Bonds so redeemed, if
<br />redeemed in the following years:
<br />5%, if redeemed on September 1, 1992, or thereafter,
<br />to and including September 1, 1994;
<br />4%, if redeemed on September 1, 1995, or thereafter,
<br />to and including September 1, 1999;
<br />3%, if redeemed on September 1, 2000, or thereafter,
<br />to and including September 1, 2003;
<br />2%, if redeemed on September 1, 2004, or thereafter,
<br />to and including September 1, 2007;
<br />1%, if redeemed on September 1, 2008, or thereafter;
<br />to and including September 1, 2011;
<br />Without premium, if redeemed September 1, 2012, or
<br />thereafter, but prior to maturity;
<br />provided, however, that at least 30 days prior to the redemption
<br />date, written notice of such redemption shall be given to the
<br />paying agents for the Bonds and to each of the registered owners
<br />at their respective addresses as they appear upon the registra-
<br />tion books of the Clerk and shall be published at least once in a
<br />financial newspaper published in the City of New York, New York.
<br />Bonds held by the Government may be redeemed by the Issuer, in
<br />whole or in part, on any interest payment date prior to maturity
<br />at the price of par and accrued interest, without premium.
<br />2.05 Execution of Bonds. The Bonds shall be executed
<br />in the name of the Issuer with the manual or facsimile signature
<br />of the Chairman and the corporate seal of the Issuer shall be
<br />imprinted thereon, attested and countersigned with the manual or
<br />facsimile signature of the Clerk; provided, that the signature of
<br />one of such officers shall be manually executed thereon. In case
<br />any one or more of the officers who shall have signed or sealed
<br />any of the Bonds or whose facsimile signature shall appear
<br />thereon shall cease to be such officer of the Issuer before the
<br />Bonds so signed and sealed have been actually sold and delivered,
<br />such Bonds may nevertheless be sold and delivered as herein pro-
<br />vided and may be issued as if the person who signed or sealed
<br />such Bonds had not ceased to hold such office. Any Bond may be
<br />signed and sealed on behalf of the Issuer by such person who at
<br />the actual time of the execution of such Bond shall hold the
<br />J U L 7 1982 —6—�ox. 50 Psi 267:
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