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~~ r, C BROWNFIELDS CLEANUP REVOLVING LOAN FUND LOAN AGREEMENT THIS AGREEMENT (the "Agreement") is made and entered into on this day of , 2010, by and between the City of South Bend, a municipal corporation organized under the laws of Indiana as a home rule city acting by and through its Board of Public Works, ("City"), and the South Bend Redevelopment Commission ("Commission"), existing and operating under the authority of Ind. Code § 36-7-14. RECITALS A. The City is the recipient of federal funds ("Grant Funds") distributed through the United States Environmental Protection Agency ("EPA") Brownfield Cleanup Revolving Loan Fund ("RLF") Program and is authorized to make certain loans from these funds. B. Grant Funds are to be used to undertake cleanup of brownfields sites, as defined in Section 101(39) of the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), 42 U.S.C. § 9601(39) ("Brownfield Sites"), by making low interest loans and grants to parties willing to undertake cleanup of these sites. C. The City and the Commission have entered into an agreement concerning the redevelopment of 1100 Prairie Avenue; South Bend, Indiana 46601, an area consisting of approximately 19.2 acres of land located within the City ("Property"), more particularly described in Exhibit A attached hereto and incorporated herein. D. The City has agreed to loan to the Commission certain of the Grant Funds which will be used by the Commission for a portion of the remediation of the Property (the "Remediation Work"). A "Remediation Work Plan" ("Work Plan") has been prepared and is attached hereto and incorporated herein as Exhibit B. E. An "Eligibility Evaluation for a Cleanup Application for the Property Located at 1100 Prairie Avenue" vas prepared by the Commission on January 11, 2010, which demonstrates qualification of the Property for consideration of funding through the RLF Program, a copy of which is attached hereto and incorporated Herein as Exhibit C. F. On January 19, 2010 the City forwarded to EPA its determination that the Commission is a separate legal entity distinct from the City and is eligible for a loan from the City in connection with the Grant Funds and on January 20, 2010 EPA accepted this determination. G. The Commission is not responsible for the contamination on the Property and the due diligence activities conducted prior to the Commission's purchase of the Property satisfy CERCLA's landowner liability protections and Section 101(35)(B)(i)(I) of CERCLA.