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~.R. -25 PA~K237
BOCK
ST, ~UCIE C~UNTT. FLA.
25
specified, all issued and to be issued ender and equally secured by
a Mortgage and Deed of Trust (herein, as the same has been and
may hereafter be amended and supplemented, called the "Inden-
ture"), dated as of January 1, 1959, ezecnted by :the Company to
Bankers Trust Company (herein culled the "Trustee") and The
Barnett National Bunk of Jacksonville, Trustees, to which Mort-
guge and Decd of Trust and all indentures supplemental thereto
reference is hereby made for u description of the °l~roperties mort-
gaged and pledged, the nature and extent of the security, the rights
and limitations of rights of the bearers or registered owners of the
Bonds and the rights, duties and immunities of said Trustees in
respect the+reof, unci the terms and conditions upon which the Bonds
are, and arc to lie, secured. Tlie Bonds inuy be issued in series, for
various principal suu~s, may mature ut different times, may bear
interest ut dif[er~~nt rotes and may otherwise vary as in the Inden-
ture provided. This Bond is one of a series designated as the
"I•'irst Diortguge Pipe Line Bonds, 53/x% Series due January 1,
1J82" (herein called the "Bonds of the 1982 Series") of the Com-
pany, issued under and secured by the Indenture, and limited to
$10,500,000 aggregate principal amount.
The Bonds of the 1982 Series are subject to redemption ut any
time or from time to time prior to maturity, at the option of the
Coml-any, either as n whole or in part, upon payment of the per-
centages of the principal amount thereof set forth below under
the heading "Optional Redemption Prices", together with accrued
interest to the redemption date, upon notice given by publication
once in each of two separate calendar weeks in a newspaper printed
in the English language and customarily published at least once a
day for at least five business days each week and of general
circulation in the Borough of Manhattan, The City of New Yorlt
(the first of such publications to be not more than 60 and not less
thin 30 days before the redemption date) ;provided, however, that
(i) except as permitted by the Indenture in the case of the redemp-
tion of Bonds by application of certain moneys held by the Trnatee,
the Company shall not redeem any Bonds of the 1982 Series i!
such redemption is carried out directly or indirectly as a part of,
or in anticipation of, any refunding operation involving the in-
curring of indebtedness by the Company or an a~liate of the
Company unless anch Bonds are so redeemed (a) on or after
January 1, 1967 or (b) prior to January 1, 1967 and the interest
rate or cost of money to the Company or anch affiliate (computed
in acxordance with accepted financial practice) with respect to the