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As more fully set forth in the Indenture and upon notice
given aa above provided, Bonds • of tlie 1987 Series are also
snbject to redemption at the option of the Company (a) at
the prinaipal amonnt thereof and accrned intereat to the redemp-
tion date, on Jannary 1 and July 1 of any year, by the application
- of moneys theretofore receiaed by the Trastee upon the taldng
bp the ezemise of a power of eminent domain of, or as proQeeda
of the inanrance on, prnperty enbjecstt to the lien of the Indentnre,
and (b) at the applicable optional redemption prices set forth
above and aoorned interest to the redemption date, by the appli-
cation of certain other moneys theretofore received by the _
Trustee.
' The Bonds of the 1987 Series are entitled to the benefita of
the sinking fnnd provided in the Indentnre and are snbject to
redemption on Angast 1, 1970, and on each Febrnary 1 and
Angast 1 thereafter, throngh the operation of snch sinking fnnd
at the principal amonnt thereof together with ac~crned interest
to the redemption date, npon notice given in the manner pro-
vided in the case of redemption at the option of the Company. ,
As provided in the Indentnre, the Bonds of the 1987 Series are
also snbject to redemption, at the option ~f -the Company, at .
the principal amount th~ereof together with aocraed intereat to
the redemption date on any sin~ng fnnd redemption date in a
principal amonnt eqnal to the principal amonnt thereof other-
vvise redeemable on snch date for sneh sinking fnnd, provided,
hon~ever, that prior to August 1, 1977 no sucb optional redemp-
tion shall be carried ont directly or indirectlp as a part of, or
in anticipation of, any refunding operation involving the inenr-
. ring of indebtedness by tLe Company or an a~liate of the Com-
pany at an interest rate or cost of money to the Company or
~ snch affiliate (oompnted in accordance with accepted financial
practice) of less than 67/8% per annnm.
In the event of the selection for redemption (whether for ~
' the sin~ng fnnd or otherwise) of a portion only of the principal
of this Bond, payment of the redemption price will be made
~ only (a) npon presentation of this Bond for notation hereon
of snch payment of the portion of the principal of this Bond
so redeemed, or (b) npon snrrender of this Bond in ezchange
for a Bond or Bonds of the 1987 Series of anthorized denomina-
tions for the nnredeemed balance of We principal of this Bond. ~
~ To the eatent permitted by, and as provided in, the Inden-
tnre, modifications or alterations of the Indentnre, or of any
indentnre snpplemental ~hereto, and of the rights and obligationa
~ of the Company and of the holders of the Bonds, and of conpona
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