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® ARTICLE III REDEMPTION OF BONDS BEFORE MATURITY Section 301. Redemption of Bonds. The Bonds shall be subject to redemption prior to maturity at the option of the Issuer, to be exercised solely as directed by the Company, in whole or in part at any time(and if in part,by lot or in such other manner as may be determined by the Trustee to be fair and equitable), at a redemption price equal to the principal amount being redeemed plus accrued interest to the redemption date. Section 302. Notice. Notice of the call for any redemption, identifying the Bonds or portions thereof being called and the date on which they shall be presented for payment, shall be given by the Trustee by registered or certified mail to the registered owner of each such Bond addressed to such registered owner at his registered address and placed in the mails not less than thirty(30)nor more than sixty(60)days prior to the date fixed for redemption;provided,however, that failure to give such notice by mailing, or any defect therein, shall not affect the validity of the proceedings for the redemption of any Bond with respect to which no such failure or defect has occurred. Any notice mailed as provided in this Section shall be conclusively presumed to have been duly given, whether or not the registered owner receives the notice. • With respect to notice of redemption of the Bonds at the option of the Issuer(at the direction of the Company), unless moneys sufficient to pay the principal of and interest on the Bonds to be redeemed shall have been received by the Trustee prior to the giving of such notice,such notice shall state that said redemption shall be conditional upon the receipt of such moneys by the Trustee on or prior to the date fixed for such redemption. If such moneys shall not have been so received, such notice shall be of no force and effect,the Issuer shall not redeem such Bonds and the Trustee shall give notice,in the manner in which the notice of redemption was given,that such moneys were not so received. Section 303. Redemption Payments. On or prior to the date fixed for redemption, funds shall be deposited with the Trustee to pay, and Trustee is hereby authorized and directed to apply such funds to the payment of, the Bonds or portions thereof called, together with accrued interest thereon to the redemption date. Upon the giving of notice and the deposit of funds for redemption, interest on the Bonds or portions thereof thus called shall no longer accrue after the date fixed for redemption. Section 304. Cancellation. All Bonds which have been redeemed shall not be reissued but shall be canceled and disposed of by the Trustee in accordance with Section 211 hereof. Section 305. Partial Redemption ofBonds. In case a Bond is of a denomination larger than $100,000, a portion of such Bond ($100,000 or any integral multiple of $5,000 in excess of • 13