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22 F <br />appearing an the registration books of the Issuer hereinafter <br />provided for as the registered owner of such bond (or the <br />previous bond or }wands evidencing the same debt as that evidenced <br />by such bond) at the close of business on the recazd date for <br />such interest, which shall be the 15th day (whether or not a <br />business day) of the calendar month next preceding such interest <br />payment date, by check mailed to such person at his address as it <br />appears on such registration books or, in the case of a bond <br />registered in the name of the FmHA, as hereinafter provided. If <br />the FmHA is the registered owner of the bonds, payment of the <br />installments of principal and interest with respect thereto shall <br />be made at the office of such fiscal agent as the FmHA shall. <br />designate without presentation ar sur~ender thereof. <br />Section 3. The bonds maturing prior to June 1, 1999 <br />will not be subject to redemption prior to maturity: The bonds <br />maturing on June 1, 1999 and thereafter will be redeemable, at <br />the option of the Issuer, Pram any moneys that may be made. <br />available for such purpose, of}her l.n whole on any date not <br />earlier 14han June 1, 1998, or in par` on any interest payment <br />date not earlier than June 1, 1998, at the principal amount of <br />the bonds to be redeemed, togeL~.her with interest accrued thereon <br />to the date fixed for redemption, plus a redemption premium of <br />1/2 of 1~ of the principal amount of each bond to be redeemed far <br />each calendar year or parr thereof between the redemption date <br />and the maturity date of such bond, such premium not to exceed 20 <br />of such ~rincipal amount. <br />If less than all of the bands of any one maturity shall <br />be called for redemption, the parta.cular bonds or portions of <br />bands of such maturity to be redeemed shall be selected by lot by <br />the Issuer in such manner as the Issuer in its discretion may <br />determine; provided, however, that the por`ion of any bond.to be <br />redeemed shall be in the principal amount of $Soo or same <br />