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Bonds maturing on or before September 1, 1990, are not
<br />subject to redemption prior to their respective stated dares of
<br />maturity. Bonds which shall mature September 1, 1991, and
<br />thereafter shall, at the opti.on of the Issuer, be redeemable in
<br />whole or in part, in inverse numerical and maturity order, on
<br />September 1, 1990, or on any interest payment_ date thereafter at
<br />par and accrued interest, plus the following premiums, re
<br />as percentages of the par value of ssed
<br />the Bonds so redeemed, expre
<br />redeemed in the following years:if
<br />5%, if redeemed on September 1, 1990, or thereafter,
<br />to and including September 1, 1992;
<br />if redeemed on September 1, 1993, or thereafter,
<br />to and including September 1, 1997;
<br />3 if redeemed on Sept_ernber
<br />to and 1, 1998, or thereafter,
<br />including September 1, 2001;
<br />2a, if redeemed on September 1, 2002, or thereafter,
<br />to and including September 1, 2005;
<br />1D, 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 given
<br />to the paying agents for the Bonds and to each of the registered
<br />owners at their respective addresses as they appear upon the
<br />registration books of the Clerk and shall be published at least
<br />once in a financial newspaper published i.n the City of New York,
<br />New York. Bonds held by bile Government may be redeemed by the
<br />Issuer on any interest payment date prior to maturity at the
<br />price of par and accrued interest_, without premium.
<br />2.05 Execution of Bonds. Tile Bonds shall be executed
<br />f the name ma r_an 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 si.gnakure 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
<br />Bonds so signed and sealed have been actually the Issuer before the
<br />such Bonds may nevertheless be sold and delivered as herein ro-
<br />sold and delivered,
<br />vided and may be issued as if t_he person who signed or sealed
<br />-6-
<br />JUN 21 511980
<br />Mor, 43 ;a - "?4
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