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WHEREAS, the Commission anticipates it will consider for approval an addendum <br />to the Lease (the "Addendum ") following the sale of the Bonds to reflect lower rental payments <br />under the Lease; and <br />WHEREAS, the Commission, by Resolution No. 1088 adopted at a meeting on <br />August 7, 1992, established certain funds and accounts for the payment of the rentals owed by the <br />Commission pursuant to said Lease (the "Pledge Resolution "); <br />NOW, THEREFORE, BE IT RESOLVED, by this South Bend Redevelopment <br />Commission as follows: <br />Section 1. The Commission hereby covenants and agrees to keep and maintain <br />those funds and accounts created by the Pledge Resolution, such funds and accounts consisting of <br />a Blackthorn Golf Course Project Principal and Interest Account (the "Blackthorn Golf Course <br />Principal and Interest Account ") and such other accounts as the Commission may from time to time <br />establish to pay the rentals owed by the Commission pursuant to the Lease as the same may be <br />amended by the Addendum. <br />Section 2. The Commission hereby acknowledges and restates its obligation <br />pursuant to the Pledge Resolution to levy in each calendar year a special tax upon all of the taxable <br />property in the City of South Bend Redevelopment District in a total amount sufficient, together with <br />any Required Deposit made on August 1 of such calendar year and all other funds in the Blackthorn <br />Golf Course Project Principal and Interest Account deposited into such account from any other <br />Aawk <br />sources (other than such special taxes) during the previous twelve (12) calendar months prior to <br />August 1 of such calendar year, to pay all lease rental payments payable in the twelve (12) month <br />period beginning on July 1 of the following calendar year. Such taxes shall be deposited in the <br />-2- <br />::ODMA\PCDOCS \SBDOCS 1\25683\ 1 <br />