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had been owned by the Company at the time of the execution of the
Mortgage, and had been specifically and at length described in and con-
veyed to said Trustees, by the Mortgage as a part of the property
therein stated to be conveyed. -
The Company further covenants and agrees to and with the Trustees _
and their successors in said trust under the Mortgage, as follows:
ARTICLE I -
Thirty-seventh Series of Bonds
i S~criorr 1. (I) There shall be a series of bonds designated "121/8%
~ Series due November 1, 2009", herein sometimes referred to as the
"Thirty-seventh Series", and of which shall also bear the descriptive title
First Mortgage Bond, and the form thereof, which shall be established
by Resolution of the Board of Directors of the Company, shall contain
suitable provisions with respect to the matters hereinafter in this Sec-
tion specified. Bonds of the Thirty-seventh Series shall mature on No-
vember 1, 2009, and shall be issued as fully registered bonds in denomi-
nations of One Thousand Dollars and, at the option of the Company, in "
any multiple or multiples of One Thousand Dollars (the exercise of such
option to be evidenced by the execution and delivery thereof they shall
bear interest at the rate of 121/8% per annum, payable semiannually on
May 1 and November 1 of each year; the principal of and interest on
each said bond to be payable at the office or agency of the Company in
the Borough of Manhattan, The City of New York, in such coin or cur-
rency of the United States of America as at the time of payment is legal -
tender for public and private debts. Bonds of the Thirty-seventh Series
shall be dated as in Section 10 of the Mortgage provided.
(II) Bonds of the Thirty-seventh Series shall be redeemable either
at the option of the Company or pursuant to the requirements of the "
1+Iortgage (including, among other requirements, the application of
cash delivered to or deposited with the Corporate Trustee pursuant to
the provisions of Section 39 or Section 64 of the Mortgage or with pro-
ceeds of Released Property) in whole at any time, or in part from time
to time, prior to maturity, upon notice, as provided in Section 52 of the ,l
~ 1+iortgage, mailed at least thirty (30) days prior to the date fixed
~ for redemption, at the following general redemption prices, es-
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