No. 2153 authorizing issuance of bonds of the SB redevelopment district for purpose of raising money for certain local public improvements in downtown medical services district allocation area

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include any successor Registrar), for the registration and for the transfer of the bonds (the 'Bond Register ") as of the fifteenth day of the month immediately preceding the interest payment date or at such other address as is provided to the Paying; Agent in writing by the Registered Owner. All payments on this bond shall be made in lawful money of the United States of America. This bond, together with interest thereon, does not constitute a corporate obligation or indebtedness of the City, but the same is an obligation of the Redevelopment District, which is a special taxing district having the same boundaries as the City. Subject to the provisions for registration, this bond is negotiable under the laws of the State of Indiana. This bond is one of an authorized issue of bonds of the City of South Bend, Indiana, Redevelopment District in the aggregate principal amount of Two Million Five Hundred Thousand Dollars ($2,500,000), numbered consecutively from 2005R -1 upwards, issued pursuant to a resolution entitled "A BOND RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION AUTHORIZING THE ISSUANCE OF BONDS OF THE SOUTH BEND REDEVELOPMENT DISTRICT FOR THE PURPOSE OF RAISING MONEY FOR CERTAIN LOCAL PUBLIC IMPROVEMENTS IN THE DOWNTOWN MEDICAL SERVICES DISTRICT ALLOCATION AREA" (the "Resolution ") adopted by the Commission on March 18, 2005, and in strict compliance with Indiana Code 36 -7 -14, for the purpose of procuring funds to pay for the cost of the redevelopment and economic development of the Area, together with a sum sufficient to pay the estimated cost of all expenses reasonably incurred in connection with the redevelopment and economic development of the Area, including the total cost of all reasonable and necessary architectural, engineering, legal, financing, accounting, advertising, bond discount and supervisory expenses, and capitalized interest for the bonds as set forth in the Resolution, together with the expenses in connection with or on account of the issuance of the bonds, all as described in the Resolution. Reference is hereby made to the Resolution for a description of the nature and extent of the rights, duties and obligations of the owners of the bonds, the City and the Commission and the terms on which this bond is issued, and to all the provisions of the Resolution to which the owner hereof by the acceptance of this bond assents. Bonds of this issue maturing on , and thereafter, are redeemable on and on any date thereafter at the option of the Commission in whole or in part (only in authorized denominations of Five Thousand Dollars ($5,000) or integral multiples thereof), with the maturities and amounts of bonds to be redeemed to be selected by the Commission. Bonds so redeemed shall be redeemed on such redemption date at a price of 100% of the principal amount of the bonds outstanding to be redeemed plus interest accrued on the bonds so redeemed to the date fixed for redemption, and with the following premium:[ .] In addition, and subject to the provisions of the Resolution permitting amounts to be credited toward a part or all of mandatory sinking fund requirements in order of mandatory redemption dates determined by the Commission, the Bonds maturing February 1, , and (the "Term Bonds "), are subject to redemption in part through application of mandatory sinking fund payments as provided in the Resolution beginning on February I in the years and respectively, and on each February 1 thereafter to maturity, at a redemption price equal to 100% of the principal amount thereof, plus accrued interest to the redemption date, but without premium, on the dates and in the principal amounts indicated below: Date * Final Maturity Bonds Due Principal Amount is Unless waived by any holder of bonds to be redeemed, official notice of any such redemption shall be given by the Registrar on behalf of the Commission by mailing a copy of an official redemption notice by -11- BDDB01 40102160