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05-22-2017 Packet
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05-22-2017 Packet
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The City of South Bend, Indiana ("Issuer"), a municipal corporation duly organized and <br /> existing under the laws of the State of Indiana, for value received, hereby promises to pay in <br /> lawful money of the United States of America to the Registered Owner listed above, but solely <br /> from TIF Revenues (as defined in the hereinafter defined Indenture), pledged and assigned for <br /> the payment hereof, up to the Principal Amount set forth above, or of so much of the Principal <br /> Amount as shall have been advanced to the Developer (as defined below) and remains <br /> outstanding, quarterly on January 1, April 1, July 1 and September 1 on the dates and in the <br /> amounts as set forth on Exhibit A attached hereto, unless this Series 2017 Bond (as hereinafter <br /> defined) shall have previously been called for redemption and payment of the redemption price <br /> made or provided for herein. RDistrict Two LLC ("Developer") promises to pay interest on the <br /> unpaid principal amount hereof at the interest rate per annum stated above from the interest <br /> payment date to which interest has been paid next preceding the date of authentication of this <br /> bond unless this bond is authenticated after the seventh day preceding an interest payment date <br /> and on or before such interest payment date, in which case it shall bear interest from such interest <br /> payment date, or unless this bond is authenticated on or before , 20 , in which <br /> case it shall bear interest from the Original Date, until the principal advanced is paid in full, <br /> which interest is payable quarterly on January 1, April 1, July 1 and September I of each year, <br /> beginning on 1, 20_. Interest shall be calculated on an average daily balance basis. <br /> The schedule of advances made is shown on Exhibit A. <br /> Interest on this Series 2017 Bond is payable by check mailed one business day prior to <br /> the interest payment date to the person in whose name this bond is registered on the seventh day <br /> preceding such interest payment date. The principal of this Series 2017 Bonds is payable at the <br /> corporate trust offices of 1st Source Bank, as Trustee, in the City of South Bend, Indiana, or at <br /> the principal office of any successor trustee or paying agent. No presentation of this bond is <br /> required for such payments made to the Registered Owner except that upon final payment, this <br /> bond shall be returned to the Paying Agent for destruction. If the payment date occurs on a date <br /> when financial institutions are not open for business, the wire transfer shall be made on the next <br /> succeeding business day. <br /> This Series 2017 Bond is the only one of an authorized issue of bonds of the Issuer <br /> designated as the Taxable Economic Development Revenue Bonds, Series 2017 (Studebaker <br /> Project) (hereinbefore and hereinafter the "Series 2017 Bonds") which are being issued under the <br /> Indenture in the aggregate principal amount of$3,500,000. The Series 2017 Bonds are being <br /> issued for the purpose of providing funds to finance a portion of the costs of the reskinning and <br /> restoration of Building 84 and other related improvements and expenses, if any, of the <br /> hereinafter defined Studebaker Facilities ("Bond Project"), in connection with the remediation <br /> and rehabilitation of the former Studebaker manufacturing facilities ("Studebaker Facilities"), in <br /> or physically connected to the River West Development Area. <br /> The Series 2017 Bonds are issued under and entitled to the security of a Trust Indenture <br /> dated as of June 1, 2017 ("Indenture") duly executed and delivered by the Issuer to l st Source <br /> Bank, South Bend, Indiana, as Trustee (the term "Trustee" where used herein referring to the <br /> Trustee or its successors), pursuant to which Indenture the TIF Revenues, and all rights of the <br /> Issuer under the Indenture and the Financing and Covenant Agreement, dated as of June 1, 2017, <br /> between the Developer and the Issuer("Financing Agreement"), except certain rights to payment <br /> - 3 - <br /> 1\11860514.2 <br />
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