No. 2012 authorizing issuance of bonds for purpose of providing funds for refunding outstanding bonds and financing redevelopment projects in SBCAA (No. 1A) and paying incidental expenses in connection therewith and on account of issuance of bonds

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authorized to enter into such agreements or understandings with such institution as will enable the institution to perform the services required of the Registrar and Paying Agent. The Fiscal Officer is authorized to pay such fees as the institution may charge for the services it provides as Registrar and Paying Agent. Such institution, if so appointed, and any successor, may at any time resign as Registrar and Paying Agent by giving thirty (30) days written notice to the Commission and to each registered owner of the 2003 Bonds then outstanding, and such resignation will take effect at the end of such thirty (30) days or upon the earlier appointment of a successor by the Commission. Such notice to the Commission may be served personally or be sent by first -class or registered mail. The Commission shall act promptly to appoint a successor, and notwithstanding anything herein to the contrary, no resignation will take effect until the successor has been appointed. The Registrar and Paying Agent may be removed at any time by the Commission in which event the Commission shall thereupon appoint a successor. The Commission shall notify each registered owner of the 2003 Bonds then outstanding of such removal. Notices to registered owners of the 2003 Bonds shall be deemed to be given when mailed by first -class mail to the addresses of such registered owners as they appear on the Registration Record. Any predecessor Registrar and Paying Agent shall deliver all the 2003 Bonds, cash or investments related thereto in its possession and the Registration Record to the successor. At all times, the same entity shall serve as Registrar and Paying Agent. Any successor Registrar and Paying Agent shall be a financial institution qualified to do such business in Indiana. ILI Section 5. Form of Bonds. The form and tenor of the 2003 Bonds shall be substantially as follows, and all blanks to be filled in properly and all necessary additions and deletions to be made prior to delivery thereof- 2003R- UNITED STATES OF AMERICA STATE OF INDIANA COUNTY OF ST. JOSEPH CITY OF SOUTH BEND, INDIANA REDEVELOPMENT DISTRICT TAX INCREMENT REVENUE BOND, SERIES 2003 (South Bend Central Development Area) Interest Rate Original Date Maturity Date Authentication Date REGISTERED OWNER: PRINCIPAL SUM: Dollars ($ ) The City of South Bend, Indiana (the "City"), acting for and on behalf of the South Bend Redevelopment District (the "District'), for value received, hereby promises to pay to the Registered Owner set forth above, solely from the sources described herein and which consist of allocated incremental taxes on real property located in the South Bend Central Allocation Area (South Bend Allocation Area No. IA) (the "Allocation Area "), and earnings thereon, the Principal Sum set forth above on the Maturity Date set forth above (unless this bond be subject to and be In