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0• <br />lost, in exchange and substitution for such mutilated Bond upon <br />surrender and cancellation of such mutilated Bond, or in lieu of <br />and substitution for the Bond destroyed, stolen or lost, and upon <br />the Registered Owner furnishing the Tssuer proof of his ownership <br />thereof -and satisfactory indemnity and complying with such other <br />reasonable regulations and conditions as the Issuer may prescribe <br />and paying such expenses as the Issuer may incur. All Bonds so <br />surrendered shall be cancelled by the Issuer. If any of the <br />Bonds shall have matured or be about to mature, instead of <br />issuing a substitute Bond, the Issuer may pay the same, upon <br />being indemnified as aforesaid, and if such Bond be lost, stolen <br />or destroyed, without surrender thereof. <br />Any such duplicate Bonds issued pursuant to this <br />section shall constitute original, additijnal contractual obliga- <br />tions on the part of the Issuer whether or not the lost, stolen <br />or destroyed Bonds be at any time found by anyone, and such <br />duplicate Bonds shall be entitled to equal and proportionate <br />benefits and rights as to lien on and source and security for <br />payment from the funds, as hereinafter pledged, to the same <br />extent as all other Bonds issued hereunder. <br />SECTION 12. PROVISIONS FOR REDEMPTION. The Bonds <br />shall be subject to redemption prior to their maturity, at the <br />option of the Issuer or the Registered Owners thereof, at such <br />times and in such manner as shall be fixed by resolution of the <br />Board at the time of sale of the Bonds. <br />At least 30 days prior to the redemption date, notice of <br />such redemption shall be filed with the paying agent and shall be <br />mailed, postage prepaid to all Registered Owners of Bonds to <br />be redeemed at their addresses as they appear on the registration <br />books. Interest shall cease to accrue on any Bonds duly called <br />for prior redemption, after the redemption date, if payment <br />thereof has been duly provided. The privilege of transfer or <br />exchange of any of the Bonds selected for redemption is suspended <br />for a 15 day period preceding the date of selection of the Bonds <br />-11- <br />