Notice of Redemption of Capital and Common Securities by HF Financial Capital Trust I
HF Financial Capital Trust I is notifying holders of its 10,000 Capital Securities and 310 Common Securities that these securities will be redeemed in full on December 8, 2006, at a redemption price of 100%. Holders must present and surrender their securities to Wilmington Trust Company to receive payment. After the redemption date, interest will no longer accrue on the redeemed securities. If only part of a security is redeemed, a new security will be issued for the remaining amount. This notice is issued under the terms of the trust agreement involving HF Financial Corp. and Wilmington Trust Company.
Exhibit 10.3
NOTICE OF REDEMPTION
TO THE HOLDERS OF
HF Financial Capital Trust I
10,000 CAPITAL SECURITIES
310 COMMON SECURITIES
(the “Securities”)
Your Securities is hereby called for redemption on December 8, 2006 pursuant to Annex I, Section 4 of the Amended and Restated Declaration of Trust dated as of November 28, 2001 between HF Financial Corp. as the Company, Wilmington Trust Company, as the Institutional Trustee and Delaware Trustee and the Administrators named therein. The Securities will be redeemed at the Redemption Price of 100%.
On December 8, 2006, the Securities or portions thereof designated for redemption will become due and payable. Payment will be made upon presentation and surrender to:
| BY MAIL: | BY HAND: |
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| Wilmington Trust Company | Wilmington Trust Company |
| Corporate Trust | Corporate Trust |
| 1100 North Market Street | 301 West 11th Street |
| Wilmington, DE 19890 | 1st Floor |
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| Wilmington, DE |
In the case of Securities designated for partial redemption, a new Security in the principal face amount equal to the unredeemed portion thereof will be issued. On and after December 8, 2006, interest shall cease to accrue on the Securities or portions thereof designated for redemption.
| HF Financial Capital Trust I | |
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| Dated: October 11, 2006 | |
