No. 2225 amended and restated authorizing the issuance of COSB redevelopment district adjustable rate demand tax increment revenue bonds (series 2006 Erskine Commons Project) and other related matters

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reasonably incurred in connection with the redevelopment and economic development of the Allocation Area, including the total cost of all reasonable and necessary architectural, engineering, legal, financing, accounting, advertising, bond discount and supervisory expenses, capitalized interest and a debt service reserve for the Bonds as provided herein, together with the expenses in connection with or on account of the issuance of the Bonds therefor. The Bonds shall not constitute a corporate obligation or indebtedness of the City, but shall constitute an obligation of the Redevelopment District. The Bonds, together with interest thereon, shall be payable solely from Project Tax Increment Revenues, allocated and deposited, as required by Ind. Code § 36- 7- 14 -26, in the Allocation Fund established hereunder and, to the extent such Project TIF Revenues are insufficient, from payments from the Developer pursuant to the agreement to be entered into pursuant to Section 9 hereof. The Bonds shall be issued in fully registered Bonds in denominations of One Hundred Thousand Dollars ($100,000), or integral multiples of Five Thousand Dollars ($5,000) in excess thereof, not exceeding the aggregate principal amount of Bonds maturing in any one (1) year and shall be numbered consecutively as set forth in the Trust Indenture. The Bonds shall be payable and mature as provided for in the Trust Indenture; but in no event shall the term of the Bonds exceed twenty (20) years (it being understood the Commission and the Developer have agreed to an additional five (5) year Recovery Period (as defined in the Development Agreement) whereby the Commission may reimburse the Developer as set forth herein and in the Development Agreement but that such Recovery Period shall not affect the term of the Bonds). The Bonds shall bear interest at a rate not to exceed eight percent (8.0 %) per annum. The Bonds shall be subject to mandatory and optional redemption or tender as provided in the Trust Indenture and the Bonds. The Bonds shall bear an original date which shall be the date upon which the Bonds are to be delivered and each Bond shall also bear the date of its authentication. The principal of, premium, if any, and interest on the Bonds shall be payable at the principal office of the Trustee or at such times and locations as set forth in the Trust Indenture. The Mayor of the City (the "Mayor ") and the Controller are hereby authorized and directed to execute and attest, respectively, and to deliver the Bonds and any other document which may be necessary or desirable to consummate the issuance of the Bonds. The signatures of the Mayor and the Controller on the Bonds may be a true and authentic signature or a facsimile thereof. The Commission hereby approves the Bond Form, in substantially the form presented to the Commission with such changes as the Mayor and the Controller approve in their sole discretion, such approval to be conclusively evidenced by such execution and attestation. In case any officer whose signature or a facsimile thereof shall appear on the Bonds shall cease to be such officer before the issuance and delivery of the Bonds, such signature or facsimile thereof shall nevertheless be valid and sufficient for all purposes, the same as if he had remained in office until after that time. The Controller is authorized to arrange for the delivery of such Bonds to the purchaser, payment for which shall be made in the manner set forth in the Purchase Agreement (as defined herein). Notwithstanding anything herein to the contrary, the Bonds shall, in compliance with all applicable laws, be initially issued and held in book -entry form and registered in the name of Cede & Co., as nominee for The Depository Trust Company without physical BDDB01 33020840 - 5 -