No. 2805 authorizing the issuance of revenue bonds of the South Bend redevelopment district for the purpose of raising money for redevelopment/economic development in the CDA

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serving the Central Development Area (the "Area "), including without limitation certain improvements to Coveleski Stadium (the "Project "), 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 , I and (the "Term Bonds "), are subject to redemption in part through application of mandatory sinking fund payments as provided in the Resolution beginning on in the years 1. and respectively, and on each 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: Bonds Due Date Principal Amount *Final Maturity 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 registered or certified mail at least thirty (30) days and not more than sixty (60) days prior to the date fixed for redemption to the registered owner of the bond or bonds to be redeemed at the address shown on the Bond Register or at such other address as is furnished in writing by such registered owner to the Registrar; provided, however, that failure to give such notice, or any defect therein, with respect to any bond shall not affect the validity of any proceedings for the redemption of other bonds. Official notice of redemption having been given as aforesaid, the bonds, or portions of bonds so to be redeemed shall, on the redemption date, become due and payable at the redemption price therein specified, and from and after such date (unless the Commission shall default in the payment of the redemption price) such bonds or portions of bonds shall cease to bear interest. Upon surrender of such bonds for redemption in accordance with said notice, such bonds shall be paid by the Paying Agent at the redemption price. Bonds redeemed in part may be exchanged for a bond or bonds of the same maturity in Authorized Denominations equal to the remaining principal amount. The principal of and premium, if any, and interest on this bond and all other bonds of the issue of which this bond is a part are payable out of the PSCDA Revenues and to the extent the PSCDA Revenues are insufficient therefor, from the COIT Revenues. BDDB01 6406657v2 - 11 -