14-20 Cedar Glen Bond Ordinance Addendums

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Filed in Clerk's Office f 1 Form of Bond + MAR 1 0 2020 I ' � I DAWN M.JONES CITY CLERK,SOUTH BEND, IN UNITED STATES OF AMERICA STATE OF INDIANA COUNTY OF CITY OF SOUTH BEND, INDIANA MULTIFAMILY HOUSING BOND OF 2020, SERIES B No. BR— ORIGINAL INTEREST MATURITY ORIGINAL AUTHENTICATION RATE DATE DATE DATE See Bond Purchase As Described Herein and Loan Agreement and Note PRINCIPAL AMOUNT: DOLLARS ($) REGISTERED OWNER: MERCHANTS BANK OF INDIANA The City of South Bend, Indiana(the"Issuer"),a political subdivision duly organized and existing under the laws of the State of Indiana, for value received, hereby promises to pay in lawful money of the United States of America to the Registered Owner listed above,but solely from the payments on the Note (as defined in the Bond Purchase and Loan Agreement) pledged and assigned for the payment hereof,the Principal Amount set forth above, or of so much of the Principal Amount as shall have been advanced, unless this Bond shall have previously been called for redemption and payment of the redemption price made or provided for or unless payments shall be accelerated as provided in the Bond Purchase and Loan Agreement, and to pay interest on the unpaid principal amount hereof in like money, at the Tax Exempt Interest Rate,commencing on the first day of the first calendar month following the first Principal Advance (as defined in the Bond Purchase and Loan Agreement) and continuing on the first day of each calendar month thereafter, through and including the Maturity Date (as set forth in the Note) or until the total sum of all Principal Advances is paid in full and the Borrower has made its final draw request under the Bond Purchase and Loan Agreement by and among the Issuer, MBI and the Borrower dated as of(the "Bond Purchase and Loan Agreement"),and has filed the Certificate of Substantial Completion for the Project as described in Section 15.3 of the Bond Purchase and Loan Agreement. Interest on each Principal Advance will accrue from the date of the Principal Advance and be calculated on the basis of a 360-day year applied to the actual number of days in each interest payment period. Upon receipt of each Principal Advance, Merchants Bank of Indiana ("MBI") shall make a notation on its books and records of such Principal Advance. The books and records of MBI shall be determinative of the amounts so advanced. "Tax Exempt Interest Rate" means the Applicable Rate, as defined in the Note. The principal and premium, if any, of this Bond are payable at the office of MBI, in the City of Cannel, Indiana, or at the principal office of any successor trustee or paying agent or, if payment is made to a depository,by wire transfer of immediately available funds on the payment date.