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<br />America, acting through the Farmers )Tome Administration, U.S. 
<br />Department of Agriculture (the "Government"), shall be payable 
<br />at "Finance Office, U.S. Department of Agriculture, Farmers 
<br />!tome Administration, 1520 Market Street, St. Louis, Missouri 
<br />63103," or at such other places as the Government shall from 
<br />time to time in writing designate to the Issuer. 
<br />2.04 Provisions for Redemption. Bonds maturing on 
<br />or before September 1, 1990, are not subject to redemption 
<br />prior to their respective stated dates of maturity. Bonds which 
<br />shall mature September 1, 1991, and thereafter shall, at the option 
<br />of the Issuer, be redeemable in whole or in part, in inverse num- 
<br />erical and maturity order, on September 1, 1990, or on any interest 
<br />payment date thereafter, at par and accrued interest, plus the 
<br />following premiums, expressed as percentages of the par value of the 
<br />Bonds so redeemed, if redeemed in the following years: 
<br />5$, if redeemed on September 1, 1990, or thereafter, 
<br />to and including September 1, 1993; 
<br />4%, if redeemed on Septe�:.ber 1, 1994, or thereafter, 
<br />to and including September 1, 1997; 
<br />3%, if redeemed on September 1, 1998, or thereafter, 
<br />to and including September 1, 2001; 
<br />2$; if redeemed on September 1, 2002, or thereafter, 
<br />to and including September 1, 2005; . 
<br />12, if redeemed on September 1, 2006, or thereafter, 
<br />to and including September 1, 2009; 
<br />Without premium, if redeemed September 1, 2010, or 
<br />thereafter, but prior to maturity; 
<br />provided, however, that at least thirty (30) days prior to the 
<br />redemption date written notice of such redemption shall be 
<br />given to the paying agents for the Bonds and to each of the 
<br />registered owners at their respective addresses as they appear 
<br />upon the registration books of the Clerk and shall be published 
<br />at least once in a financial newspaper published in the City of 
<br />New York, New York. Bonds held by the Government may be redeemed 
<br />by the Issuer on any interest payment date prior to maturity at 
<br />:the price of par and accrued interest, without premium. 
<br />-5- 
<br />JAN- 2 3 197 R: K 43 Farr 363 
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