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the principal amount of Term Bonds so purchased and tendered and, if the principal amount thereof is greater than the amount required to be redeemed on the next mandatory redemption date, the excess may be credited against subsequent mandatory redemptions in such manner as the County may direct. Notice of such redemption shall, not more than forty-five (45) days and not less than thirty (30) days prior to the redemption date, (i) be filed with the Bond Registrar and Paying Agent, and (ii) be mailed, postage prepaid, to all Registered Owners of Bonds to be redeemed at their addresses as they appear of record on the books of the Bond Registrar as of forty-five (45) days prior to the date fixed for redemption. Interest shall cease to accrue on any Bond duly called for prior redemption on the redemption date, if payment thereof has been duly provided. The County and the Bond Registrar shall not be required to issue or to register the transfer of or exchange any Bonds then considered for redemption during a period beginning at the close of business on the fifteenth (15th) day next preceding any date of selection of Bonds to be redeemed and ending at the close of business on the day of mailing the applicable notice of redemption, as hereinafter provided, or to register the transfer of or exchange any portion of any of the Bonds selected for redemption until after the redemption date. All notices of redemption with respect to the Bonds shall specify the series, maturities and numbers of the Bonds to be redeemed (including the CUSIP numbers); the date fixed for redemption; the redemption price or prices to be applicable to the Bonds to be redeemed; and that on the date fixed for redemption such Bonds shall be payable at the principal corporate trust office of the Paying Agent (specifying the address of same). If holders or registered owners of all such Bonds to be redeemed file written waivers of notice with the Paying Agent, such 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 shall not affect the validity of any proceeding for redemption of other Bonds so called for redemption. So long as the Series 1993 Bond Insurance Policy is in effect, notice of redemption of Series 1993 Bonds, other than mandatory sinking fund redemption and redemption resulting from a refunding, shall be given or published only if sufficient funds have been deposited with the Paying Agent to pay the redemption price of the Series 1993 Bonds to be redeemed. SECTION 13. FORM OF BONDS. The text of the Bonds, the validation certificate thereon, if applicable, and the certificate of authentication thereon shall be in substantially the following form, with such omissions, insertions and variations as may be necessary and/or desirable and authorized or permitted by this Resolution or any subsequent resolution adopted prior to the issuance thereof, or as may be necessary to comply with applicable laws, rules and regulations of the United States and the State of Florida in effect upon the issuance thereof: No. R- $ UNITED STATES OF AMERICA STATE OF FLORIDA INDIAN RIVER COUNTY RECREATIONAL REVENUE REFUNDING BOND, SERIES