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

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South Bend. Subject to the provisions for registration, this bond is negotiable under the laws of the State of Indiana. The principal of and premium, if any, and interest on this bond and all other bonds of the Series 1986 Bond issue, certain Tax Increment Revenue Bonds of 1985 issued on December 23, 1985 in the aggregate principal amount of Four Million Two Hundred Thousand Dollars ($4,200,000) pursuant to Resolution No. 747 and Amending Resolution Nos. 752, 755 and 756 adopted the 23rd day of August, 1985, the 18th day of November, 1985, the 22nd day of November, 1985 and the 20th day of December, 1985, respectively, which bonds in the amount of Four Million Two Hundred Thousand Dollars ($4,200,000) are outstanding as of May 1, 1986 and will mature at various amounts annually on February 1 of each year beginning on February 1, 1990 through and including February 1, 2003, ranking on a parity herewith and any bonds hereafter issued ranking on a parity herewith are payable solely out of the Tax Increment. In the manner provided in the Series 1986 Bond Resolution, the Series 1986 Bond Resolution and the rights and obligations of the Commission and of the owners of the Series 1986 Bonds, may (with certain exceptions as stated in the Resolution) be modified or amended with the consent of the owners of 60% in aggregate principal amount of outstanding Series 1986 Bonds exclusive of Series 1986 Bonds, if any, owned by the Commission or the City. Additional bonds ranking on a parity with the Series 1986 Bonds and other bonds, junior to the Series 1986 Bonds can be issued in accordance with the terms of the Series 1986 Bond Resolution. The terms and provisions of this bond are continued on the reverse side hereof and such continued terms and provisions shall for all purposes have the same effect as though fully set forth at this place. It is hereby certified and recited that all acts, conditions and things required by law and the Constitution of the State of Indiana to be done precedent to and in the execution, issuance, sale and delivery of this bond have been properly done, happened and performed in regular and due form as prescribed by law, and that the issuance of this bond by the South Bend Redevelopment District does not cause any constitutional or statutory limitation of indebtedness to be exceeded. This bond shall not be valid or become obligatory for any purpose or be entitled to any security or benefit under the Series 1986 Bond Resolution authorizing this bond until this bond shall have been herein below endorsed manually by the Registrar. ... IN WITNESS WHEREOF, the South Bend Redevelopment Commission has caused this bond to be executed in the name of the City of South Bend, acting for and on behalf of the South Bend Redevelopment -7-