Authorizing the Execution and Delivery of a Memorandum of Intent between the City of South Bend and the University of Notre Dame Credit Union

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2. That a primary inducement to Notre Dame Credit Union in locating the Project within the limits of St. Joseph County is the intent of the City to finance the cost of the Project through the issuance of its revenue bonds pursuant to the provisions of the Act. 3. That it is desirable that Notre Dame Credit Union rather than the City arrange for the acquisition and con- struction of the Project in order to insure that the Project will conform to the requirements of Notre Dame Credit Union, for whose use the Project is designed. 4. That this Agreement shall inure to the benefit of the parties hereto and their respective successors and as- signs; provided, however, that in the event the bonds are not issued or sold as contemplated herein, there shall be no liability on the part of the City or of Notre Dame Credit Union or of any of their officers or employees for such non - issuance or non - delivery. 5. That this Agreement may be executed in separate counterparts, all of which shall be deemed a single instru- ment. IN WITNESS WHEREOF, the CITY OF SOUTH BEND, INDIANA, by and through its Common Council, has caused its corporate name to be hereunto subscribed by Roger 0. Parent, its duly authorized mayor, and attested under its official seal by Irene K. Gammon, its City - 5 -