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87-100441 The Bonds of Series J shall be subject to redemption prior to maturity, at the option of the ICompany, as a whole but not in part, upon at least thirty (30) days' notice given as provided in Article Eight of the Indenture, on December 31, 1988 upon payment of 107.00017c of the principal amount of the bonds to be redeemed, and thereafter upon payment of the following percentages of the principal amount of the bonds to be redeemed. If Redeemed During Twelve Months Ending the last day. of December 1989 .......... .....................106.000'%0 1990 ........ .......................105.000% 1991 ........ .......................104.000% 1992 ........ .......................103.000% 1993 ........ .......................102.000% 1994 ........ .......................101.000% 1995 ........ .......................100.000% together with interest accrued hereon to the date of such redemption, provided however that no bond of Series J shall be redeemable prior to December 31, 1993, if such redemption is for the purpose or in anticipation of refunding such bond through the use, directly or indirectly, of borrowed funds at an interest cost (calculated in accordance with generally accepted financial practice) lower than eight and fifteen one - hundredths per cent (8.15010) per annum. This bond is also subject to redemption through operation of the mandatory sinking fund established for bonds of Series J upon payment of the principal amount redeemed and accrued interest thereon to the date of redemption but without premium. In case an event of default as defined in the Indenture shall occur, the principal of this bond may become or be declared due and payable at the time or times and in the manner and with the effect provided in the Indenture. This bond is transferable by the registered owner hereof, in person or by attorney duly authorized in writing, at the office of the Trustee, in the City of Chicago and State of Illinois, upon surrender and cancellation of this bond, and thereupon a new registered bond or bonds without coupons of the same aggregate principal amount in authorized denominations of the same series will be issued to the transferee or transferees in exchange herefor. To the extent permitted by and as provided in the Indenture, the rights and obligations of the Company and of the holders of the bonds and the provisions of the Indenture, or of any indenture supplemental thereto, may be modified in certain respects with the assent and authorization in writing, given as in the Indenture provided, of the holders of seventy -five per cent (75%) in principal arnount of the bonds then outstanding under the Indenture (exclusive of bonds disqualified by reason of the Company's interest therein), including, if more than one series of bonds shall be at the time outstanding, not less than seventy -five per cent (75`10) in principal amount of each series affected; provided, however, that no such modification shall be made without the written approval or consent of the holder hereof which will (a) extend the maturity of this bond or reduce the rate or extend the time of payment of interest hereon or reduce the amount of the principal hereof or reduce any premium payable on redemption hereof, or (b) deprive the holder hereof of the benefit of the lien of the Indenture for the security hereof, or (c) reduce the percentage of the principal amount of the bonds upon the approval or consent of the holders of which modifications may be made as aforesaid. No recourse shall be had for the payment of the principal of or the interest on this bond or of any claim based hereon or in respect hereof or of the Indenture against any incorporator, stockholder. officer or director as such of the Company, or of any corporation successor to it, either directly or through any receiver or trustee, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment or penalty, or otherwise, all such liability being by the acceptance hereof expressly released. L _J