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-5- The Bonds maturing on August 1, 2019 shall be subject to mandatory sinking fund redemption on August 1, 2014 and on August 1 of each year thereafter to maturity in the principal amounts in each year set forth below, with the particular Bond or Bonds or portions 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: Y~,:qi (August 1) Principal Amount 2014 $585,000 2015 620,000 2016 655,000 2017 690,000 2018 730,000 2019' 770,000 The City, at its option, may credit against such mandatory sinking fund redemption requirement, the principal amount of any Bonds maturing on August 1, 2019 which have been purchased and cancelled by the City or which have been redeemed and not theretofore applied as a credit agalnat such mandatory sinking fund redemption requirement. If any Bond (or any portion of the principal amount thereof in installments of $5,000) shall be called for redemption, notice of the redemption thereof, specifying the date, number and maturity of such Bond, the date and place or places fLxed for its redemption, the premium, if any, payable upon such redemption, and if less than the entire principal amount of such Bond is to be redeemed, that such Bond must be surrendered in exchange for the principal amount thereof to be redeemed and a new Bond or Bonds issued equalling in principal amount that portion of the principal amount thereof not to be redeemed, shall be mailed not less than thirty (30) days prior to the date fixed for redemption by first class mail, postage prepaid, to the registered owner of such Bond at his address as it appears on the books of registry kept by the Director of Finance of the City, as the Registrar and Paying Agent for the Bonds (the "Registrar"), as of the close of business on the lo,q-fifth (45th) day next preceding the date freed for redemption. If notice of the redemption of any Bond shall have been given as aforesaid, and payment of the principal amount of such Bond (or the portion of the principal amount thereof to be redeemed) and of the accrued interest and premium, if any, payable upon such redemption shall have been duly made or provided for, interest on such Bond shall cease to accrue from and after the date so specified for the redemption thereof.