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the principal amounts within each maturity to be' redeemed shall <br />be determined by the City; and if only part of the Certificates <br />having a common maturity date are called for prepayment, the <br />specific Certificates to be prepaid shall be chosen by lot by the <br />Certificate Registrar. Certificates or portions thereof called <br />for redemption shall be due and payable on the redemption date, <br />and interest thereon shall cease to accrue from and after the <br />redemption date. Mailed notice of redemption shall be given to <br />the paying agent (if other than the City) and to each affected <br />registered holder of the Certificates. <br />To effect a partial redemption of Certificates having a <br />common maturity date, the Certificate Registrar prior to giving <br />notice of redemption shall assign to each Certificate having a <br />common maturity date a distinctive number for each $1,000 of the <br />principal amount of such Certificate. The Certificate Registrar <br />shall then select by lot, using such method of selection as it <br />shall deem proper in its discretion, from the numbers so assigned <br />to such Certificates, as many numbers as, at $1,000 for each <br />number, shall equal the principal amount of such Certificates to <br />be redeemed. The Certificates to be redeemed shall be the <br />Certificates to which were assigned numbers so selected; <br />provided, however, that only so much of the principal amount of <br />each such Certificate of a denomination of more than $1,000 shall <br />be redeemed as shall equal $1,000 for each number assigned to it <br />and so selected. If a Certificate is to be redeemed only in <br />part, it shall be surrendered to the Certificate Registrar (with, <br />if the City or Certificate Registrar so requires, a written <br />instrument of transfer in form satisfactory to the City and <br />Certificate Registrar duly executed by the holder thereof or his, <br />her or its attorney duly authorized in writing) and the City <br />shall execute (if necessary) and the Certificate Registrar shall <br />deliver to the Holder of such Certificate, without service <br />charge, a new Certificate or Certificates of the same series <br />having the same stated maturity and interest rate and of any <br />authorized denomination or denominations, as requested by such <br />Holder, in aggregate principal amount equal to and in exchange <br />for the unredeemed portion of the principal of the Certificate so <br />surrendered. <br />6. Certificate Registrar. The Administrator of the <br />City, is appointed to act as certificate registrar and transfer <br />agent with respect to the Certificates (the "Certificate Regis- <br />trar"), and shall do so unless and until a successor Certificate <br />Registrar is duly appointed. Any successor Certificate Registrar <br />shall act as certificate registrar and transfer agent pursuant to <br />any contract the City and successor certificate registrar shall <br />execute which is consistent herewith. The Certificate Registrar <br />shall also serve as paying agent unless and until a successor <br />paying agent is duly appointed. Principal and interest on the <br />Certificates shall be paid to the registered holders (or record <br />1146366.1 3 <br />