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a • l for the credit of the Bond Amortization Fund shall be applied to ® the retirement of Term Bonds as follows: (1) Subject to the provisions of paragraph (4) be- low, the Issuer shall endeavor to purchase Term Bonds then out- standing, at the most advantageous price obtainable with reasonable diligence, such price not to exceed the principal of such Term Bonds and the redemption premium which would be applicable if the • moneys applied to such purchase were otherwise applied to the re- demption of Term Bonds under paragraphs (2) or (3) below. The Issuer shall pay the interest accrued on such Term Bonds to the date of delivery thereof from the Sinking Fund and the purchase price from the Bond Amortization Fund, but no such purchase shall be made by the Issuer within the period of forty-five (45) days immediately preceding any interest payment dt.ce on which such Term Bonds are subject to call for redemption except from moneys in excess of the amounts set aside or deposited for the redemption of Term Bonds. (2) Subject to the provisions of paragraphs (4) be- low, the Issuer shall call for redemption on each interest payment date on which Term Bonds are subject to redemption from moneys in the Bond Amortization Fund such amount of Term Bonds then subject to redemption as will exhaust the moneys then held in the Bond Amortization Fund as nearly as may be practicable. Prior to call- ing Term Bonds for redemption the Issuer shall withdraw from the Sinking Fund and from the Bond Amortization Fund and set aside in separate accounts or deposit with the Paying Agents the respective amounts required for paying the interest on the Term Bonds so called for redemption. (3) Moneys in thd''Bond Amortization Fund shall be applied by the Issuer in each Fiscal Year to the retirement of Term Bods then outsLandiny in the following order: (i) The Term Bonds of each series to the extent of the Amortization Installment, if any, for such Fiscal Year for the Term Bonds of each such series then outstanding and, if the amount -32-