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<br />-16- <br />*Maturity <br /> <br />In lieu of redemption of the 2018 Bonds pursuant to the preceding paragraph, amounts on <br />deposit in the Sinking Account or the Redevelopment Obligation Retirement Fund (to the extent <br />not required to be transferred to the Trustee pursuant to Section 4.03 during the current Bond <br />Year other than for deposit in the Sinking Account) may also be used and withdrawn by the <br />Successor Agency at any time for the purchase of such 2018 Bonds at public or private sale as <br />and when and at such prices (including brokerage and other charges and including accrued <br />interest) as the Successor Agency may in its discretion determine. The par amount of any of such <br />2018 Bonds so purchased by the Successor Agency in any twelve-month period ending on July <br />1 in any year shall be credited towards and shall reduce the par amount of such Bonds required <br />to be redeemed pursuant to this subsection (b) on the next succeeding September 1. <br /> <br /> (c) Notice of Redemption. The Trustee on behalf and at the expense of the Successor <br />Agency shall 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 />2018 Bonds designated for redemption at their respective addresses appearing on the <br />Registration Books, and (ii) the Securities Depositories and to the Information Services; but such <br />mailing shall not be a condition precedent to such redemption and neither failure to receive any <br />such notice nor any defect therein shall affect the validity of the proceedings for the redemption <br />of such 2018 Bonds or the cessation of the accrual of interest thereon. Such notice shall state <br />the redemption date and the redemption price, shall state that optional redemption is conditioned <br />upon the timely delivery of the redemption price by the Successor Agency to the Trustee for <br />deposit in the Redemption Account, shall designate the CUSIP number of the 2018 Bonds to be <br />redeemed, shall state the individual number of each Bond to be redeemed or shall state that all <br />2018 Bonds between two stated numbers (both inclusive) or all of the Bonds Outstanding are to <br />be redeemed, and shall require that such 2018 Bonds be then surrendered at the Principal <br />Corporate Trust Office of the Trustee for redemption at the redemption price, giving notice also <br />that further interest on such 2018 Bonds will not accrue from and after the redemption date. <br /> <br />The Successor Agency has the right to rescind any notice of the optional redemption of <br />2018 Bonds by written notice to the Trustee on or prior to the date fixed for redemption. Any <br />notice of redemption shall be cancelled and annulled if for any reason funds will not be or are not <br />available on the date fixed for redemption for the payment in full of the 2018 Bonds then called <br />for redemption, and such cancellation shall not constitute an Event of Default. The Successor <br />Agency and the Trustee have no liability to the Owners or any other party related to or arising <br />from such rescission of redemption. The Trustee shall mail notice of such rescission of <br />redemption in the same manner as the original notice of redemption was sent under this Section. <br /> <br />Upon the payment of the redemption price of 2018 Bonds being redeemed, each check <br />or other transfer of funds issued for such purpose shall, to the extent practicable, bear the CUSIP <br />number identifying, by issue and maturity, the 2018 Bonds being redeemed with the proceeds of <br />such check or other transfer. <br /> <br />(d) Partial Redemption of 2018 Bonds. In the event only a portion of any 2018 Bond is <br />called for redemption, then upon surrender of such 2018 Bond the Successor Agency shall <br />execute and the Trustee shall authenticate and deliver to the Owner thereof, at the expense of <br />the Successor Agency, a new 2018 Bond or 2018 Bonds of the same interest rate and maturity, <br />of authorized denominations, in aggregate principal amount equal to the unredeemed portion of <br />the 2018 Bond to be redeemed. <br /> <br />442