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Notice of Redemption Notice of the intention to redeem the Series 1993 Bonds in whole or in part will be mailed by the Paying Agent, by first class mail, to the Registered Owners of the Series 1993 Bonds to be redeemed in whole or in part not more than 45 days and not less than 30 days prior to the date fixed for redemption, at their respective addresses as shown on the registration books, in accordance with the terms of the Resolution. Such notice is to specify the series, maturities and numbers of Series 1993 Bonds to be redeemed (including the CUSIP number); the date fixed for redemption; the redemption price or prices applicable to the Series 1993 Bonds to be redeemed; and that on the date fixed for redemption such Series 1993 Bonds will be payable at the principal corporate trust office of the Paying Agent and that after such date interest shall cease to accrue on such Series 1993 Bonds. If Registered Owners of all such Series 1993 Bonds to be redeemed file written waivers of notice with the Paying Agent, such Series 1993 Bonds may be redeemed on the redemption date without necessity of notice by mailing. Failure to mail any notice of redemption or any defect therein or in the mailing thereof will not affect the validity of any proceeding for redemption of other Series 1993 Bonds called for redemption. Registradon, Transfer, and Exchange All Series 1993 Bonds presented for transfer, exchange, redemption, or payment (if so required by the Bond Registrar) shall be accompanied by a written instrument or instruments of transfer or authorization for exchange, in form and with guaranty of signature satisfactory to the Bond Registrar, duly executed by the Registered Owner or by his duly authorized attorney. The Bond Registrar may charge the Registered Owner a sum sufficient to reimburse them for any expenses incurred in making any exchange or transfer. The Bond Registrar also may require payment from the Registered Owner or his transferee, as the case may be, of a sum sufficient to cover any tax, fee, or other governmental charge that may be imposed in relation thereto. Such charges and expenses shall be paid before any such new Series 1993 Bond shall be delivered. The Bond Registrar may treat the Registered Owner of any Series 1993 Bond as the absolute owner thereof for all purposes, and shall not be bound by any notice to the contrary. SECURITY FOR THE SERIES 1993 BONDS Pledge of Pledged Funds The principal of, redemption premium, if any, and interest on the Series 1993 Bonds will be payable from and secured by a first Gen upon and pledge of: (i) Net Revenues (which shall include all income or earnings derived from the operation of the Recreational Facilities; and any income from the investment of money in funds and accounts established in the Resolution for payment of the principal and interest on the Series 1993 Bonds and any Additional Parity Bonds issued from time to time); minus the Operating Expenses (which shall include the current expenses, paid or accrued, of operation, maintenance and repair of the Recreational Facilities without including any reserve for renewals and replacements, extraordinary repairs or any allowance for depreciation); and (G) The racetrack funds and jai alai fronton funds accruing annually to the County (collectively, the "Racetrack and Jai Alai Fronton Funds") pursuant to Chapters 550 and 551, Florida Statutes, and allocated to the County pursuant to law. The principal of, redemption premium, if any, and interest on the Series 1993 Bonds wiG additionally be payable from and secured by a subordinate Gen upon and pledge of the local government half -cent sales tax on deposit from time to time in the Local Government Half -Cent Sales Tax Clearing Trust Fund in the State