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$3,005,000 for the purpose of paying all or a portion of the Issuer's contractual obligations incurred
<br />in connection with improving and expanding South Collegiate Drive and making improvements to
<br />the frontage access for South Collegiate Drive and paying legal, fiscal, engineering and architectural
<br />fees in connection with such project.
<br />THE CERTIFICATES OF THIS SERIES having stated maturities on and after December
<br />15, 2011 may be redeemed prior to their scheduled maturities, at the option of the Issuer, on
<br />December 15, 2020 or on any date thereafter, with funds derived from any available and lawful
<br />source, as a whole, or in part, and, if in part, the particular Certificates, or portions thereof, to be
<br />redeemed shall be selected and designated by the Issuer (provided that a partion of a Certificate may
<br />be redeemed only in an integral multiple of $5,000), at a redemption price equal to the principal
<br />amount to be redeemed plus accrued interest to the date fixed for redemption.
<br />AT LEAST 30 days prior to the date fixed for any redemption of Certificates or portions
<br />thereof prior to maturity a written notice of such redemption shall be sent by the Paying
<br />Agent/Registrar by United States mail, first-class postage prepaid, at least 30 days prior to the date
<br />fixed for any such redemption, to the registered owner of each Certificate to be redeemed at its
<br />address as it appear•ed on the 45th day prior to such redemption date; provided, however, that the
<br />failure of the registered owner to receive such notice, or any defect therein or in the sending or
<br />mailing thereof, shall not affect the validity or effectiveness af the proceedings for the redemption
<br />of any Certificate. By the date fixed for any such redemption due provision shall be made with the
<br />Paying Agent/Registrar for the payment of the required redemption price for the Certificates or
<br />portions thereof that are to be so redeemed. If such written notice of redemption is sent and if due
<br />provision for such payment is made, all as provided above, the Certificates or portians thereof that
<br />are to be so redeemed thereby automatically shall be treated as redeemed prior to their scheduled
<br />maturities, and they shall not bear interest after the date fixed for redemption, and they shall not be
<br />regarded as being outstanding except for the right of the registered owner to receive the redemptian
<br />price from the Paying Agent/Registrar out of the funds provided for such payment. If a portion af
<br />any Certificate shall be redeemed, a substitute Certificate or Certificates having the same maturity
<br />date, bearing interest at the same rate, in any denomination or denominations in any integral multiple
<br />of $5,000, at the written reyuest of the registered owner, and in aggregate principal amount equal
<br />to the unredeemed portion thereof, will be issued to the registered owner upon the surrender thereof
<br />for cancellation, at the expense af the Issuer, all as provided in the Certificate Ordinance.
<br />ALL CERTIFICATES OF THIS SERIES are issuable solely as fully registered certificates,
<br />without interest caupons, in the denomination of any integral multiple of $5,000. As provided in
<br />the Certificate Ordinance, this Certificate may, at the request of the registered owner or the assignee
<br />or assignees hereof, be assigned, transferred, converted into and exchanged for a like aggregate
<br />principal amount of fully registered certificates, without interest coupons, payable to the appropriate
<br />registered owner, assignee or assignees, as the case may be, having the same denomination or
<br />denominations in any integral multiple of $5,000 as requested in writing by the appropriate
<br />registered awner, assignee ar assignees, as the case may be, upon surrender of this Certificate to the
<br />Paying Agent/Registrar for cancellation, all in accordance with the form and procedures set forth
<br />in the Certificate Ordinance. Among other requirements for such assignment and transfer, this
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