387

361

3% if redeemed May 1, 1967 through November 1, 1971 inclusive
2-1/2% if redeemed May 1, 1972 through November 1, 1976 inclusive
2% if redeemed May 1, 1977 through November 1, 1981 inclusive
1- 1/2% if redeemed May 1, 1982 through November 1, 1986 inclusive
1% if redeemed after November 1, 1986.

Bonds 1,443-A through 1,647-A inclusive, maturing November 1, 1992 through November 1994 inclusive, to be callable at the option of the Borrower in whole or in part in the inverse numerical order on any interest payment date during the entire life of the loan, upon at least thirty (30) days' prior notice, at par plus accrued interest to the date of redemption.

Priority as to call shall extend to bonds numbered 1, 443-A through 1,647-A inclusive over bonds numbered 109-A through 1,442-A inclusive.

Provided, however, that, except for the redemption of Series F with surplus funds in the Construction Account for Project CH-NC-73(D) respectively, calls of Bonds will be applied to each series of Bonds on an equal pro rata basis (reflecting the proportion of the original amount of each series of Bonds outstanding at the time of such call) and calls of Bonds for each series of Bonds will be in accordance with the call provisions of the respective Bond series. However, the Borrower shall have the right to call, subject to the call provisions of the respective Bond Series, any or all outstanding Bonds which may be called at par prior to calling any Bonds that are callable at a premium.

(j) Place and Medium of Payment: (See "Place and Medium of Payment" above)

(k) Registerability: (See "Registerability" above)

(l) Redemption Provisions: (Series C Bonds)

Bonds numbered 1-C through 533-C inclusive, maturing November 1, 1971 through November 1, 1979 inclusive, to be callable at the option of the Borrower prior to the stated maturities thereof, in whole or in part and in inverse numerical order on any interest payment date after November 1, 1970 upon at least thirty (30) days' prior notice at the principal amount thereof, plus accrued interest to the date of redemption and a premium for each bond as follows:

3% if redeemed May 1, 1971 through November 1, 1975 inclusive
2- 1/2% if redeemed May 1, 1976 through November 1, 1980 inclusive

(See Paragraph 4 above for Pro Rata Redemption)

(j) Place and Medium of Payment: (See "Place and Medium of Payment above)

(k) Registerability: (See "Registerability"above)

(l) Redemption Provisions: (Series D Bonds)

Bonds numbered -1D through 1,000-D inclusive, maturing November 1, 1980 through November 1, 1991 inclusive, to be callable at the option of the Borrower prior to the stated maturities thereof, in whole or in part and in inverse numerical order on any interest payment date after November 1, 1970 upon at least thirty (30) days' prior notice at the principal amount thereof, plus accrued interest to the date of redemption and a premium for each bond as follows:

3% if redeemed May 1, 1971 through November 1, 1975, inclusive
2-1/2% if redeemed May 1, 1976 through November 1, 1980 inclusive
2% if redeemed May 1, 1981 through November 1, 1985 inclusive
1-1/2% if redeemed May 1, 1986 through November 1, 1990 inclusive
1% if redeemed after November 1, 1990

See paragraph 4 above for pro rata redemption