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registered or certified mail at least thirty (30) days and not more than sixty (60) days prior to the date fixed for
<br />redemption to the registered owner of the bond or bonds to be redeemed at the address shown on the Bond Register
<br />or at such other address as is furnished in writing by such registered owner to the Registrar; provided, however, that
<br />failure to give such notice, or any defect therein, with respect to any bond shall not affect the validity of any
<br />proceedings for the redemption of other bonds.
<br />Official notice of redemption having been given as aforesaid, the bonds, or portions of bonds so to
<br />be redeemed shall, on the redemption date, become due and payable at the redemption price therein specified, and
<br />from and after such date (unless the Commission shall default in the payment of the redemption price) such bonds or
<br />portions of bonds shall cease to bear interest. Upon surrender of such bonds for redemption in accordance with said
<br />notice, such bonds shall be paid by the Paying Agent at the redemption price. Bonds redeemed in part may be
<br />exchanged for a bond or bonds of the same maturity in Authorized Denominations equal to the remaining principal
<br />amount.
<br />The principal of and premium, if any, and interest on this bond and all other bonds of the issue of
<br />which this bond is a part are payable out of the Revenues.
<br />This bond is transferable or exchangeable only upon the Bond Register by the Registered Owner
<br />hereof in person, or by his attorney duly authorized in writing, upon surrender of this bond together with a written
<br />instrument of transfer or exchange satisfactory to the Registrar duly executed by the Registered Owner or his
<br />attorney duly authorized in writing and thereupon a new fully registered bond or bonds in the same aggregate
<br />principal amount and of the same maturity shall be executed and delivered in the name of the transferee or
<br />transferees or the Registered Owner, as the case may be, in exchange therefor. Bonds shall not be sold or transferred
<br />in principal amounts of less than $100,000 without the opinion of counsel that the sale or transfer conforms to
<br />securities laws. This bond may be transferred or exchanged without cost to the Registered Owner, except for any
<br />tax or governmental charge required to be paid with respect to the exchange. The Registrar shall not be required to
<br />transfer or exchange this bond if it has been called for redemption or during the period from the fifteenth day of any
<br />calendar month immediately preceding an interest payment date to such interest payment date.
<br />The City, the Commission, the Registrar and Paying Agent may treat and consider the person in
<br />whose name this bond is registered as the absolute owner hereof for all purposes including for the purpose of
<br />receiving payment of, or on account of, the principal hereof and interest due hereon.
<br />In the manner provided in the Resolution, the Resolution and the rights and obligations of the
<br />Commission and of the owners of the bonds may (with certain exceptions as stated in the Resolution) be modified or
<br />amended with the consent of the owners of at least sixty percent (60 %) in aggregate principal amount of outstanding
<br />bonds exclusive of bonds, if any, owned by the Commission or the City.
<br />In the event this bond is mutilated, lost, stolen or destroyed, the City may execute and the
<br />Registrar may authenticate a new bond of like date, maturity and denomination as this bond, which new bond shall
<br />be marked in a manner to distinguish it from this bond; provided, that in the case of this bond being mutilated, this
<br />bond shall first be surrendered to the City and the Registrar, and in the case of this bond being lost, stolen, or
<br />destroyed, there shall first be furnished to the City and the Registrar evidence of such loss, theft or destruction
<br />satisfactory to the City and the Registrar, together with indemnity satisfactory to them. In the event that this bond,
<br />being lost, stolen or destroyed, shall have matured, instead of issuing a duplicate bond the City and the Registrar
<br />may, upon receiving indemnity satisfactory to them, pay this bond without surrender hereof. The City and the
<br />Registrar may charge the owner of this bond with their reasonable fees and expenses in connection with the above.
<br />Every substitute bond issued by reason of this bond being lost, stolen or destroyed shall, with respect to this bond,
<br />constitute a substitute contractual obligation of the City, acting for and on behalf of the South Bend Redevelopment
<br />District, whether or not this bond, being lost, stolen or destroyed shall be found at any time and shall be entitled to
<br />all the benefits of the Resolution, equally and proportionately with any and all other bonds duly issued thereunder.
<br />The Registrar or Paying Agent may at any time resign as Registrar or Paying Agent by giving
<br />thirty (30) days' written notice to the Commission and by first -class mail to the registered owners of bonds then
<br />outstanding, and such resignation will take effect at the end of such thirty (30) days or upon the earlier appointment
<br />of a successor Registrar or Paying Agent, as the case may be, by the Commission. Such notice to the Commission
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<br />BDDB01 40102160
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