No. 0779 amending Res. No. 775 of the COSBRC

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"Series 1986 Bond Register ") as of the fifteenth day of the month immediately preceding the interest payment date or at such other address as provided to the Paying Agent in writing by the Registered Owner. All payments on this bond shall be made in lawful money of the United States of America. Bonds of this issue maturing on and after February 1, 1998, are subject to prior redemption at the option of the South Bend Redevelopment Commission (the "Commission "), in whole or in part and if in part in the inverse order of maturities and within any maturity by lot (in such manner as may be determined by the Registrar), on February 1, 1997, and on each interest payment date thereafter. The Series 1986 Bonds so redeemed shall be redeemed on such redemption date at a price of 100% of the principal amount of the bond outstanding to be redeemed plus accrued interest to the redemption date on the principal amount to be redeemed, and without premium. In case of redemption of this bond, notice of the call for any such redemption shall be given by registered or certified mail not less than thirty (30) days nor more than forty -five (45) days prior to the date fixed for redemption to the Registered Owner of this bond at the address shown on the Series 1986 Bond Register; provided, however, that failure to give such notice by mailing, or any defect therein with respect to any other bond, shall not affect the validity of any proceedings for the redemption of this bond, This bond is one of an authorized issue of Series 1986 Bonds of the South Bend Redevelopment District in the aggregate principal amount of One Million Seven Hundred Fifty Thousand Dollars ($1,750,000), numbered consecutively from 86R -1 upwards, issued pursuant to Resolution No. 775 adopted by the Commission on May 23, 1986, as amended by Resolution No. 779 adopted by the Commission on July 11, 1986 (Resolution No. 775 as amended by Resolution No. 779 shall hereinafter be referred to as the "Series 1986 Bond Resolution ") and in strict compliance with the Indiana Code, for the purpose of raising money for property acquisition and redevelopment in the Allocation Area together with expenses incidental thereto and expenses in connection with the issuance of the Series 1986 Bonds, all as described in the Series 1986 Bond Resolution. Reference is hereby made to the Series 1986 Bond Resolution for a description of the nature and extent of the rights, duties and obligations of the owners of the Series 1986 Bonds, the City and the Commission and the terms on which this bond is issued, and to all the provisions of the Series 1986 Bond Resolution to which the holder hereof by the acceptance of this bond assents. This bond does not constitute a corporate obligation or �.. indebtedness of the City of South Bend, but the same is an obligation of the South Bend Redevelopment District, which is a special taxing district having the same boundaries as the City of