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Part of Minutes of the University of Kentucky Board of Trustees

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August 1, 1996, through and including August 1, 2000 103a August 1, 2001, through and including August 1, 2004 102% August 1; 2005, and thereafter prior to final maturity 101% The Series A Bonds shall also be subject to redemption in whole or in part on any date, at the option of the Board, from the proceeds of casualty insurance or condemnation awards, at a redemption price equal to 100% of the principal amount thereof, without premium, plus accrued interest to the redemption date, if all or any part of the Hospital is damaged or destroyed or taken through the exercise of the power of eminent domain; provided, hwoever, that such redemption in part may be made only if there shall be filed with the Trustee a report of a Consultant that the failure of the Board to repair, restore or replace the property damaged, destroyed or taken will not impair or otherwise adversely affect the ability of the Board to produce Income Available for Debt Service in an amount sufficient to comply with the provisions of Section 6.01 of the Master Resolution. In the event of a redemption in part pursuant to this paragraph, the Board shall redeem Series A Bonds for each maturity then Outstanding, to the extent practicable, in the proportion that the principal amount of Series A Bonds of such maturity bears to the total principal amount of Bonds issued under the Resolution and then Outstanding. The Series A Bonds shall be called for redemption by Trustee upon receipt by Trustee at least forty-five (45) days prior to the redemption date of an Officer's Certificate directing such redemption. Such certificate shall specify the redemption date, the principal amount of the Bonds to be called for redemption and the applicable redemption prices. The Issuer may purchase or otherwise acquire Series A Bonds and deliver such Series A Bonds to the Trustee for cancellation and receive a credit for payment of any such Series A Bonds which prior to the maturity date of such Series A Bonds have been cancelled by the Trustee. Each such Series A Bond so delivered and cancelled by the Trustee shall no longer be considered as Outstanding. Section 3.03. Notice of Redemption. Notice of any redemption identifying the Series A Bonds or any part thereof to be redeemed, the applicable redemption price and the provision or provisions of the Series A Resolution pursuant to which the Series A Bonds are being called for redemption, shall be given by Trustee by delivering or mailing notice of redemption by regular first class mail at least thirty (30) days prior to the date fixed for redemption to the Owners of the Series A Bonds to be redeemed at the address shown on the registration books; provided, however, that failure of any such Owner to receive such notice, or any defect therein, shall not affect the validity of any proceedings for the redemption of any Series A Bonds with respect to which no such failure has occurred. Any notice given as provided in this Section shall be conclusively presumed to have been duly given, whether or not the Owner of the Series A Bond receives the notice. -10- Redemption Dates Redemption Price