An Inducement Resolution authorizing the execution of an agreement with Steel Warehouse of Indiana, Inc.

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AGREEMENT THIS AGREEMENT, entered into as of the day of November, 1979, between the City of South Bend, in the County of St. Joseph and State of Indiana, a municipality and political subdivision of the State of Indiana, organized and existing under the Constitution and laws of the State of Indiana (the "Issuer "), acting pursuant to resolution of the South Bend Economic Development Commission (the "Commission "), a department of development duly established by ordinance of the Common Council of the City of South Bend, Indiana, pursuant to the Municipal Economic Development Act of 1965, as amended, Indiana Code of 1971, Title 18, Article 6, Chapter 4.5 (the "Act "), and acting pursuant to resolution of the Issuer's Common Council and Steel Warehouse of Indiana, Inc., a corporation for profit organized under the laws of the State of Indiana, or any subsidiary thereof (the "Company "), for the purpose of assist- ing in the reduction of insufficient employment opportunities and insufficient diversification of industry, thereby improving the economic welfare of the City of South Bend, Indiana; WHEREAS, the Company desires to construct and install certain property (herein called the "Facility ") constituting an Economic Development Facility, as those terms are defined in the Act, within the boundaries of the City of South Bend, to be used in the business of processing steel; and WHEREAS, the Company has evidenced a desire to finance such construction and installation from the proceeds of Economic Development Revenue Bonds (the "Bonds ") issued pursuant to the authority of the Act; and WHEREAS, such construction and installation will provdie additional employment and job opportunities within the Issuer together with diversification of industry and improve the economic welfare in the area of the Issuer and its people; and WHEREAS, it will be necessary under the provisions of the EXHIBIT A -1-