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Term Bond
<br />Maturity: June 15, 2037
<br />Mandatory
<br />Principal
<br />Redemption Date
<br />Amount
<br />June 15, 2030
<br />$ 520,000
<br />June 15, 2031
<br />535,000
<br />June 15, 2032
<br />550,000
<br />June 15, 2033
<br />565,000
<br />June 15, 2034
<br />585,000
<br />June 15, 2035
<br />600,000
<br />June 15, 2036
<br />615,000
<br />June 15, 2037'
<br />635,000
<br />Stated maturity.
<br />The principal amount of Term Bonds required to be redeemed on any mandatory redemption date pursuant
<br />to the operation of the mandatory sinking fund redemption provisions shall be reduced, at the option of the
<br />Issuer, by the principal amount of any Term Bonds which, at least 45 days prior to a mandatory redemption
<br />date (1) shall have been acquired by the Issuer at a price not exceeding the principal amount of such Term
<br />Bonds plus accrued interest to the date of purchase thereof, and delivered to the Paying Agent/Registrar for
<br />cancellation, (2) shall have been purchased and canceled by the Paying Agent/Registrar at the request of the
<br />Issuer at a price not exceeding the principal amount of such Term Bonds plus accrued interest to the date of
<br />purchase, or (3) shall have been redeemed pursuant to the optional redemption provisions and not theretofore
<br />credited against a mandatory redemption requirement.
<br />IN ADDITION TO THE FOREGOING MANDATORY SINKING FUND REDEMPTION, ON
<br />DECEMBER 15, 2027, or on any date thereafter, the outstanding Bonds may be redeemed prior to their
<br />scheduled maturities, at the option of the Issuer, with funds derived from any available and lawful source,
<br />as a whole, or in part, and, if in part, the particular Bonds, or portions thereof, to be redeemed shall
<br />be selected and designated by the Issuer (provided that a portion of a Bond may be redeemed only in
<br />an integral multiple of $5,000), at a redemption price equal to the principal amount to be redeemed plus
<br />accrued interest to the date fixed for redemption.
<br />AT LEAST 30 days prior to the date fixed for any redemption of Bonds or portions thereof prior to
<br />maturity a written notice of such redemption shall be sent by the Paying Agent/Registrar by United States
<br />mail, first -class postage prepaid to the registered owner of each Bond to be redeemed at its address as it
<br />appeared on the registration books of the Paying Agent/Registrar at the close of business on the business
<br />day next preceding the date of mailing such notice; provided, however, that the failure of the registered
<br />owner to receive such notice, or any defect therein or in the sending or mailing thereof, shall not affect the
<br />validity or effectiveness of the proceedings for the redemption of any Bond. By the date fixed for any such
<br />redemption due provision shall be made with the Paying Agent/Registrar for the payment of the required
<br />redemption price for the Bonds or portions thereof that are to be so redeemed. If such written notice of
<br />redemption is sent and if due provision for such payment is made, all as provided above, the Bonds or
<br />portions thereof that are to be so redeemed thereby automatically shall be treated as redeemed prior to their
<br />scheduled maturities, and they shall not bear interest after the date fixed for redemption, and they shall not
<br />be regarded as being outstanding except for the right of the registered owner to receive the redemption
<br />price from the Paying Agent/Registrar out of the funds provided for such payment. If a portion of any
<br />Bond shall be redeemed, a substitute Bond or Bonds having the same maturity date, bearing interest at the
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