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Section 4. Each of the Project Notes of the Local Issuing Agency shall be <br />in substantially the form of HUD -9010, which is incorporated herein by reference. <br />Each series of Project Notes shall bear a date not later than the date on which <br />they are to be delivered to the purchaser and shall mature within a term of not <br />to exceed 1 months from their date. Each series of Project Notes shall bear <br />interest at the rate or rates per annum fixed in the proposal or proposals accepted <br />for the pur hase of such Notes, shall be issued in such denominations, and both <br />principal aid interest thereof shall be payable at such incorporated bank having <br />trust power or incorporated trust company as the purchaser designates in his <br />proposal, aid shall be secured by a "Requisition Agreement" in substantially the <br />form of HUD-9003, which is incorporated herein by reference, to be entered into <br />between the Local Issuing Agency and the Government. <br />Sectioa 5. Each of the Project Notes issued in a series which has been awarded <br />shall be executed in the name of the Local Issuing Agency by the manual or facsimile <br />signature of the Mayor of the City of South Bend and the City Clerk of the City of <br />South Bend is authorized and directed to date and to cause the City seal of the City <br />of South Bend to be impressed, imprinted or reproduced thereon and to attest such - <br />sealing, the aforesaid officers shall take all other actions necessary to com- <br />plete deli ry of any Project Notes which have been awarded. <br />Section 6. Each Requisition Agreement securing one or more series of Project <br />Notes shall be executed in the name of the Local Issuing Agency by the manual or <br />facsimile signature of the President of the Redevelopment Commission and the Secretary <br />of the Redevelopment Commission is authorized and directed to cause the seal of the <br />Local Issu ng Agency to be impressed, imprinted or reproduced thereon and to attest <br />the same. <br />Section 7. The Treasurer of St. Joseph County, Ex Officio Treasurer of the <br />City of South Bend is authorized and directed to deliver.thheProject Notes by <br />signing and promptly sending after acceptance of each proposal a letter to each <br />paying agent for such Project Notes in substantially the form of HUD -9004, which <br />is incorpo ated herein by reference, and to transmit therewith (a) the Project Notes <br />for which the addressee is the paying agent for delivery and payment and (b) a <br />signature certificate and receipt, in accordance with the terms of the letter, and <br />to take such other actions as may be required to complete the delivery transaction <br />in accordaAce with the terms of the letter to the paying agent. <br />Section 8. The Treasurer of St. Joseph County, Ex Officio Treasurer of the <br />City of South Bend, Controller of the City of South Bend and the Executive Director <br />and /or Assistant Director of the Local Issuing Agency are authorized to take all <br />actions as may be required to validate and complete delivery of the Project Notes <br />herein aut orized to be issued from time to time. <br />Section 9. For the punctual payment of the principal of and interest on each <br />series of Project Notes, the Local Issuing Agency expressly and irrevocably promises <br />to pay any sums which may be received from the Government pursuant to`the Requisition <br />Agreement relating to such series of Project Notes and each such Requisition Agreement <br />when execu ed by the Government is declared to be and is hereby assigned by the Local <br />Issuing Agency for the benefit of the holder or holders from time to time of such <br />series of Project Notes. All contributions, funds and amounts authorized or required <br />by the Con Tact to be applied to the payment of Project Loan Notes (referred to in <br />the Contra ,t as "Project Temporary Loan Obligations," "Advance Notes" or Permanent <br />Notes ") as issued in connection with the Project are irrevocably pledged to secure <br />the payment of the principal of and interest to maturity on each series of Project <br />Notes. Such pledge and the lien created thereby shall cease and terminate as to <br />any series of Project Notes when monies or investment securities convertible into <br />cash not later than the maturity date of such Notes, sufficient and for the purpose <br />of paying the principal and interest to maturity on such Notes, are deposited with <br />the paying agent or agents for such Notes. <br />Secti <br />the Govei <br />available <br />n 10. The Executive Director is authorized and directed to pay (a) to <br />ment such amount of such funds of the Local Issuing Agency as may be <br />or such purpose and as may be necessary to pay the principal of and <br />-2- <br />