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amended, Article 7, as amended, of Chapter 159 of the General <br />Statutes of North Carolina, orders adopted by the Board for said <br />Issuer which have taken effect as provided by law, and a resolution <br />duly passed by said Board (the "Resolution"). <br /> <br /> The Bonds maturing prior to February 1, 2008 are not subject <br />to redemption prior to maturity. The Bonds maturing on February 1, <br />2008 and thereafter may be redeemed, at the option of said County, <br />from any moneys that may be made available for such purpose, either <br />in whole or in part on any date not earlier than February 1,, 2007, <br />at the principal amount of the Bonds to be redeemed, together with <br />interest accrued thereon to the date fixed for redemption, plus a <br />redemption premium of 1/2 of 1% of the principal amount of each <br />Bond to be redeemed for each period of 12 months or part thereof <br />between the redemption date and the maturity date of such Bond, <br />such premium not to exceed 2% of such principal amount. <br /> <br /> If less than all of the Bonds of any one maturity shall be <br />called for redemption, the particular Bonds or portions of Bonds of <br />such maturity to be redeemed shall be selected by lot in such <br />manner as the County in its discretion may determine; Provided, <br />however, that the portion of any Bond to be redeemed shall be in <br />the principal amount of $5,000 or some whole multiple thereof and <br />that, in selecting Bonds for redemption, each Bond shall be <br />considered as representing that number of Bonds which is obtained <br />by dividing the principal amount of such Bond by $5,000. If less <br />than all of the Bonds stated to mature on different dates shall be <br />called for redemption, the particular Bonds or portions thereof to <br /> <br />10 <br /> <br /> <br />