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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LIMITED INDEBTEDNESS OF THE SOUTH BEND REDEVELOPMENT DISTRICT. NEITHER THE FULL FAITH AND CREDIT NOR THE TAXING POWER OF THE CITY OR SOUTH BEND REDEVELOPMENT DISTRICT IS PLEDGED TO THE PAYMENTS DUE ON THIS BOND. [The bonds of this issue maturing on or after February 1, 2014 are redeemable at the option of the Commission on August 1, 2013 or any date thereafter, on thirty (30) days' notice, in whole or in part, in any order of maturities selected by the Commission and by lot within a maturity, at 100% of face value plus accrued interest to the date fixed for redemption, without premium or penalty. Each $5,000 in principal amount shall be considered a separate bond for purposes of partial redemption.] [The terms of redemption for the Bonds of this issue shall be set forth herein and shall be in accordance with a Qualified Entity Purchase Agreement to be entered into by and among the City, the Commission and the Indiana Bond Bank in the event the bonds of this issue are sold to the Indiana Bond Bank.] Notice of such redemption shall be mailed by first -class mail not more than forty-five (45) days and not less than thirty (30) days prior to the date fixed for redemption to the address of the Registered Owner as shown on the registration record of the City except to the extent such redemption notice is waived by owners of the bond or bonds redeemed, provided, however, that failure to give such notice by mailing, or any defect therein, with respect to any bond shall not affect the validity of any proceedings for the redemption of any other bonds. The notice shall specify the date and place of redemption, the redemption price and the CUSIP numbers of the bonds called for redemption. The place of redemption may be determined by the Commission. Interest on the bonds so called for redemption shall cease on the redemption date fixed in such notice if sufficient funds are available at the place of redemption to pay the redemption price on the date so named, and thereafter, such bonds shall no longer be protected by the Resolution and shall not be deemed to be outstanding thereunder, and the holders thereof shall have the right only to receive the redemption price. If this bond shall not be presented for payment or redemption on the date fixed therefor, the Commission may deposit in trust with the Paying Agent or another paying agent approved by the Commission, an amount sufficient to pay such bond or the redemption price, as the case may be, and thereafter the Registered Owner shall look only to the funds so deposited in trust for payment and the City shall have no further obligation or liability in respect thereto. This bond is subject to defeasance prior to payment or redemption as provided in the Resolution. In the Resolution, the Commission reserves the right to issue additional bonds payable from TIF Revenues in the Area and earnings thereon, all subject to the conditions set forth in the Resolution. This bond is transferable or exchangeable only upon the registration record of the Commission kept for that purpose at the office of the Registrar by the Registered Owner in person, or by his attorney duly authorized in writing, upon surrender of this bond together with a written instrument of transfer or exchange satisfactory to the Registrar duly executed by the Registered Owner or his attorney duly authorized in writing, and thereupon a new fully registered bond or bonds in the same aggregate amount, and of the same maturity, shall be executed and delivered in IL the name of the transferee or transferees or the Registered Owner, as the case may be, in exchange therefor. The City, the Commission, any registrar and any paying agent for this bond may treat In