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-4- City prior to their stated maturities on or after August 1, 2003, in whole at any time, or in part from time to time on any interest payment date in any order determined by the City (except that if less than all of the Bonds of a given maturity are called for redemption, the particular Bonds or portions thereof in installments of $5,000 of such maturity to be redeemed shall be selected by lo0, upon payment of the following redemption prices (expressed as a percentage of principal amount of Bonds to be redeemed), together with the interest accrued on the principal amount to be redeemed to the date fixed for the redemption thereof: Redemption Dates (Both Dates Inclusive) Redemption Prices (Percentage of Principal Amount) August 1, 2003 to July 31, 2004 August 1, 2004 to July 31, 2005 August 1, 2005 and thereafter 102 % 101 100 The Bonds maturing on August 1, 2013 shall be subject to mandatory sinking fund redemption on August 1, 2010 and on August I of each year thereafter to maturity in the principal amounts in each year set forth below, with the particular Bond or Bonds or potions thereof to be selected by lot, upon payment of a redemption price equal to 100 % of the principal amount of the Bonds to be redeemed, together with the interest accrued on the principal amount to be redeemed to the date fixed for the redemption thereof: Ve3I (Au~mst 1] Principal Amount 2010 $2,120,000 2011 2,095,000 2012 300,000 2013' 140,000 *Maturity Tbe:City, at its option, may credit against such mandatory sinking fund redemption requirement, the principal amount of any Bonds maturing on August 1, 2013 which have been purchased and cancelled by the City or which have been redeemed and not theretofore applied as a credit again~ such mandatory sinking fund redemption requirement.