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to be redeemed together with the interest accrued thereon %o the date fixed for redemption plus a premium of one-quarber of one percent (1/4 of 1%) of the principal amount of each Bond to be redeenaed' for each twelve (12) month period or frac[ion thereof between the date fixed for redemption and the stated maturit~v date of such Bond. Any such declaration of the maturity of Bond~ to be redeemed and of the selection of Bonds within a ~aturity to be redeemed shall be made by the Director of Finance of the City. Notice of such re ~de~o~ion, specifying the date, numbers and maturities of the Bonds to be redeemed, the date and o!ace fixed for ~heir redemption and the premium, if any, payable upon such redemption, shall be given by the City by_ publication of such notice once in a-newspaper prirYced in the English language and customarily published on ea~ business day and of general circulatmon ~-n the City and once in at leash one newspaper or financial publication printed in the English language and customarily published on each busLness day in the City of New York, New York, the date of publication of such notice in each case to be at least thirty days prior to the date fixed for redemption. If any Bond called for redemption is registered as to principal only or as to both Drincioal end interest, notice of the redemption thereof shall he mailed not'~Iess than ~hirhy_ days prior to the date fixed for redemption by registered mail to ~2ae registered ~ner of such Bond at such ~ner's address as shown on the books of regis%fy; provided, hc~ever, that no~ice of re- demption by publication need not be given to the registered owner of any registered Bond if notice of redemption shall have been mailed as aforesaid~ and if notice of redemption is given by O~blication as afore- said ~h~n neither the failure to mail such notice t~ the reg~istered owner of any registered Bond ~r any defect in any notice se n~/led shall affec~c the sufficiency of ~he proceedings for the redemption of such Bonds. When notice of redemption of Bonds s/~all have been givan as hereinabove set forth, ~nd palarent of the principal amount of the Bonds so called for redemption ~nd of the accrued interest and premium, if an_y, payable upon such redemption shall have been duly made or provided for~ interest on such }~Dnds shall cease from and after the date so specified for their redemption and any co .~upons representing such 'interest ~hslI be void. The BOnds ]rav be registered by the holder as to pr/ncioa! only or as to both principal and /_nterest ~n accordance ~.~itb_ t/~e pr~visions for such registration to be endorsed thereon as set forhh~in Section 9 hereof. 2. The principal of and premium, if s~rf, and interest on the Bonds shall be payable in such coin or currency of the United States of America as at qbe respective dates of pa.re,at is legal tender for Dubtic and private debts. If ~ny Bond shall not then be registered ~s to beth principal and interest, the interest thereon payable prior to maturity shall be payable at ~he principal office of Virginia National Beu~k, in NorfoLk, Virginma, or, at the option of the holder of such Bond, at the principal office of The Chase M~mnhattan Bank (National Association), in the City of New York, New York, as the paying agents for the Bonds. 3