Authorizing the execution of an agreement with ABS Industries, Inc., or any subsidiary thereof, relating to the aquisition, construction and installation of economic development facilities

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to the Bonds or the Project except from the revenues and receipts de- rived by the Issuer with respect to the Bonds, the Financing Agreement and the Facility. The parties hereto understand and agree that the Company will utilize the Facility to further the purposes of the Act. 2. Upon receipt of a request from the Company, the Issuer will promptly issue the Bonds, maturing in Six Million Dollars (_$6,000,000.00) and at est at such rate or rates, payable on such optional and mandatory redemption features by the Company, and will deliver the Bonds and cooperate to its fullest extent in con such amount not exceeding such times, bearing inter - dates and containing such and prices as are requested to the purchaser thereof summating the transaction. 3. That, subject to the requirements and provisions of the Act, the Common Council of the Issuer will adopt the legislation nec- essary to authorize the issuance of the aforesaid Bonds; and the exe- cution of such Financing Agreement on behalf of the Issuer. 4. In order to induce the Issuer to execute and deliver this Agreement and ultimately to issue the Bonds, the Company hereby agrees to defend, indemnify and hold the Issuer and any and all offi- cials thereof harmless against any and all loss, cost, expense, claims or actions arising out of or connected with the extension of this Agreement and the preparation of the proceedings for, and the issuance, sale or delivery of, the Bonds. IN WITNESS WHEREOF, the Issuer, pursuant to resolution passed on April , 1979, has caused this Agreement to be executed by the Mayor, and the Company has caused this Agreement to be executed by its as of the day and year first above written. ATTEST: Irene K. Gammon, Its City Clerk ABS INDUSTRIES, INC. Its CI ^1Y OF SOUTH BEND, INDIANA By Peter J. Nemeth, Its Mayor -3-