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office of the aforesaid paying agent for this bond. This bond is one of an issue of bonds aggregating Ten Million ($10,000,000.) Dollars in principal amount and issued for the purpose of providing funds to pay the cost of various public improvement projects of the City of Portsmouth, Virginia, under and pursuant to and in full compliance with the Constitution and statutes of the Commonwealth of Virginia, including Chapter 5 of Title 15.1 of the Code of Virginia, 1950, as amended (the same being the Public Pinance Act), the Charter of said City and proceedings of the Council of said City duly adopted and taken under said Chapter 5. The bonds of the issue of which this bond is one maturing on and after August 1, 1987, are subject to redemption at the option of the City prior to their stated maturities on or after August 1, 1986, 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 at any time less than all of the bonds of a maturity are called for redemption, the particular bonds of such maturity to be redeemed shall be selected by lot), upon payment of the principal amount of the bonds to be redeemed together with the interest accrued thereon to the date fixed for redemption plus a premium of one-half of one percent of the principal amount of each bond to be redeemed for each six month period or fraction thereof between the date fixed for redemption and the stated maturity hereof, such premium in any event not to exceed three percent of such principal amount. If this bond is redeemable and shall be called for redemption, notice of the redemption hereof, specifying the date, number and maturity of this bond, the dat~ and place fixed for its redemption and the premium, if any, payable upon such redemption shall be given by the City by publica- tion of such notice once in a newspaper printed in the English language and customarily published on each business day and of general circulation in the City of Portsmouth, Virginia, and once in at least one newspaper or financial publication printed in the English language and customarily published on each business 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 this bond is then registered as to principal only or as to both principal and interest, notice of the redemption hereof shall be mailed not less than thirty days prior to the date fixed for redemption by registered mail to the registered owner of this bond at such owner's ~ddress as shown on the books of registry; provided, however, that if this bond shall then be registered and notice of redemption -6-