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122 <br /> <br />ARTICLE X <br /> <br />PAYMENT, DEFEASANCE AND RELEASE <br /> <br /> Section. 10.01 P_ayment and Discharge of Indenture. If the Issuer, its successors or <br />assigns, shall <br /> <br /> (a) pay or cause to be paid the principal of and premium, if any, and interest on the <br />Bonds at the time and in the manner stipulated therein and herein, or <br /> <br /> Co) provide for the payment of principal and prem/urn, if any, o f the-Bonds and <br />interest thereon by depositing with the Trustee at or at any time before maturity amounts <br />sufficient either in cash or in direct obligations of or obligations the principal of and interest on <br />which is fully guaranteed by the United States of America the principal and' interest on which <br />when due and payable (or redeemable at the option of the holder thereof) and without <br />consideration of any reinvestment thereof shall be sufficient to pay the entire mount due or to <br />become due thereon for principal and premium, if any, and interest to maturity of all said Bonds <br />Outstanding, or <br /> <br /> (c) deliver to the Trustee (1) proof satisfactory to the Trustee that notice of <br />redemption of all of the Outstanding callable Bonds not surrendbred or to be surrendered to it <br />for cancellation has been given or waived as provided Ln Article III hereof, or that arrangements <br />'satisfactory to the Trustee have been made insuring that such notice will be given or waived, or <br />(2) a written insmarnent executed by the Issuer under its official seal and expressed to be <br />irrevocable, authorizing the Trustee to give such notice for and on behalf of the Issuer, or (3) file <br />with the Trustee a waiver of such notice of redemption signed by the. Holders of all of such <br />Outstanding Bonds, and in aa.y such case, deposit with the Trustee before the date on which such <br />Bonds are to be redeemed, as provided in Article III, the entire mount of the redemption price, <br />including accrued interest, and premium, if any, either in cash or direct obligations of or <br />obligations the principal of and interest on which is fully guaranteed by the United States of <br />America (which do not permit the redemption thereof at. the option of the issuer) in such <br />aggregate face amount, bearing intei'est at such rates and maturing at such dates as shall be <br />sufficient to provide for the payment of such'r, edemption price on the date such Bonds are to be <br />redeemed, and on such prior dates when principal of and interest on the Outstanding Bonds is <br />due and payable, or <br /> <br /> (d). surrender to the Trustee for cancellation all Bonds for which payment is not so <br />provided, and shall also pay all other sums due and payable hereunder by the Issuer, then and in <br />that case, the Trustee shall deliver to the Issuer or the City such release from the lien of the <br />indenture as the Issuer or City may reasonably request, and ali the Trust Estate shall revert to the <br />Issuer and the City as their interests may appear., and the entire estate, right, title and interest of <br />the Trustee and of the owners of the Bonds shall thereupon cease, deterrrdne and become void: <br />and the Trustee in such case, upon the cancellation of all Bonds for the payment of which cash or <br />securities shall not have been deposited in aceordande with the provisions of th_is Indenture, shall, <br />upon receipt of a written request of the Issuer and of a Certificate of the Issuer and an Opinion of <br />Counsel as to compliance with conditions precedent, and at City's cost and expense, execute to <br /> <br />1763903vl 52 <br /> <br /> <br />