No. 0274 authorizing sale, issuance, delivery of project notes in the aggregate principal amount of $270,000 and execution of Requisition Agreement No. 2 for Industrial Expansion Project IND R-56

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Section 4. Each Note shall be dated October 15, 1969, shall be payable as to both principal and interest to bearer, on October 16, 1970, and, pursuant to each proposal for the purchase of said Notes hereinabove accepted, shall bear the rate of interest per annum, payable at maturity; shall bear the numbers and be in the denominations; and shall be payable as to both pricipal and int rest at the incorporated bank having trust powers or incorporated trust c mpany, as follows: Interest Purchaser Numbers Denominations Rate Payable At St. Joseph Bank 1 to 54 $5,000 5.95% St. Joseph Bank and and Trust Company Trust Company 202 South Michigan 202 S. Michigan South B nd, Indiana South Bend, Indiana None of such Notes shall be valid until after the bank or trust company at which it is payable shall have signed the agreement, appearing on each Note, to act as paying agent thereof. Each such Note shall be executed in the name of the Local Issuing Agency by the manual or facsimile signature of the Mayor of the City of South Bend and shall have the corporate seal of the said City impress d, imprinted or reproduced thereon and attested by the City Clerk of the Cit of South Bend, and said officers are hereby authorized and directed to caus said Notes to be properly executed. Section 5. Each such Note shall be in substantially the form of HUD -9010, which iss incorporated herein by reference, and shall be secured by an agreement entitle "Requisition Agreement No. 2" (herein called the "Requisition Agree- ment"), in substantially the form of HUD -9003, which is incorporated herein by refe ence, to be entered into between the'Local Issuing Agency and the GovernmeInt. Section 6. The Requisition Agreement shall be executed in the name of the Local Issuing Agency by the manual or facsimile signature of the President of the Local Issuing Agency and shall have the corporate seal of the Local Issuing Agency impressed, imprinted or reproduced thereon and attested by the Secretary, and said officers are hereby authorized and directed to cause the Requisit on Agreement to be properly executed. Sec ion 7. For the punctual payment of the principal of and interest on the New Project Notes, the Local Issuing Agency hereby expressly and irrevocably promises to pay any sums which may be received from the Government pursuant to the Requisition Agreement relating to such series of Project Notes and said Agreement, when executed by the Government, is hereby declared to be and is hereby assigned by the Local Issuing. Agency for the benefit of the holder or holders from time to time of the New Project Notes. All contributions, funds and amomits authorized or required by the Contract to be applied to the payment of Project Loan Notes (referred to in the Contract as "Project Temporary Loan Obligations", "Advance Notes" or "Permanent Notes ") as issued in connection with the Project are hereby irrevocably pledged to secure the payment of the principal. of and interest to maturity on the New Project Notes. Such pledge and the lien created thereby shall cease and terminate when monies or investment securities convertible into cash not later than the maturity date of the New Project Notes, sufficient and for the purpose of paying the principa and interest to maturity on such Notes, are deposited with the paying agent or agents for such Notes. Section 8. The proceeds derived from the sale of the New Project Notes, together with such amount of other funds of the Local Issuing Agency as may be necessary, shall be applied, simultaneously with the receipt of said proceeds, in accordance with the provisions of the Requisition Agreement. Sectlion 9. The Treasurer of St. Joseph County, ex /officio Treasurer of -2-