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General Redemption Provisions <br />Notice of Redemption. The Trustee on behalf and at the expense of the Agency is <br />required to mail (by first class mail, postage prepaid) notice of any redemption at least thirty <br />(30) but not more than sixty (60) days prior to the redemption date, to (i) to the Owners of any <br />Bonds designated for redemption at their respective addresses appearing on the Registration <br />Books, and (ii) the Securities Depositories and to one or more Information Services designated <br />in a Written Request of the Agency filed with the Trustee; but such mailing shall not be a <br />condition precedent to such redemption and neither failure to receive any such notice nor any <br />defect therein shall affect the validity of the proceedings for the redemption of such Bonds or <br />the cessation of the accrual of interest thereon. Such notice is required to state the redemption <br />date and the redemption price, shall state that such redemption is conditioned upon the timely <br />delivery of the redemption price by the Agency to the Trustee for deposit in the Redemption <br />Account, shall designate the CUSIP number of the Bonds to be redeemed, shall state the <br />individual number of each Bond to be redeemed or shall state that all Bonds between two <br />stated numbers (both inclusive) or all of the Bonds Outstanding are to be redeemed, and shall <br />require that such Bonds be then surrendered at the Principal Corporate Trust Office of the <br />Trustee for redemption at the redemption price, giving notice also that further interest on such <br />Bonds will not accrue from and after the redemption date. The Agency shall have the right to <br />rescind any optional redemption by written notice to the Trustee on or prior to the date fixed <br />for redemption. <br />Selection of Bonds for Redemption. Whenever any Bonds or portions thereof are to be <br />selected for redemption by lot, the Agency shall make such selection, in such manner as the <br />Agency shall deem appropriate, and if the Agency fails to make such selection, the Trustee <br />shall make such selection, in such manner as the Trustee shall deem appropriate, and shall <br />notify the Agency thereof to the extent Bonds are no longer held in book-entry form. In the <br />event of redemption by lot of Bonds, the Trustee shall assign to each Bond then Outstanding a <br />distinctive number for each $5,000 of the principal amount of each such Bond. The Bonds to be <br />redeemed shall be the Bonds to which were assigned numbers so selected, but only so much of <br />the principal amount of each such Bond of a denomination of more than $5,000 shall be <br />redeemed as shall equal $5,000 for each number assigned to it and so selected. <br />Transfer and Exchange. So long as the Bonds are registered in the name of Cede f~ Co., as <br />nominee of DTC, transfers and exchanges of Bonds will be made in accordance with DTC procedures. <br />See "Appendix F" below. Any Bond rnay, in accordance with its terms, be transferred, upon the <br />registration books of the Trustee, upon surrender of such Bond to the Trustee at its Principal <br />Corporate Trust Office for cancellation, accompanied by delivery of a written instrument of <br />transfer in a form acceptable to the Trustee, duly executed. Whenever any Bond or Bonds shall <br />be surrendered for registration of transfer, the Agency shall execute and the Trustee shall <br />authenticate and deliver a new Bond or Bonds, of like series, interest rate, maturity and <br />principal amount of authorized denomination. The Trustee may refuse to transfer, either (a) <br />any Bonds during the period fifteen (15) days prior to the date established by the Trustee for <br />the selection of Bonds for redemption, or (b) any Bonds selected by the Trustee for redemption. <br />THE FINANCING PLAN <br />A portion of the proceeds of the Bonds are expected to be used to pay all or a portion <br />of the costs of financing redevelopment projects that meet the goals and objectives set forth in <br />the Redevelopment Plan. The Agency expects redevelopment projects to be assisted from Bond <br />proceeds to include streetscape improvements to MacArthur Boulevard and to Dolittle Drive. <br />-5- <br />