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Filed in Clerk's Office <br /> r — <br /> MAR 18 2020 <br /> DAWN M.JONES <br /> $4,100,000 CITY CLERK,SOUTH BEND, IN <br /> CITY OF SOUTH BEND,INDIANA <br /> MULTIFAMILY HOUSING REVENUE BONDS,SERIES 2020A <br /> (CEDAR GLEN APARTMENTS PROJECT) <br /> BOND PURCHASE AGREEMENT <br /> City of South Bend, Indiana <br /> 227 W. Jefferson Blvd. <br /> South Bend. Indiana 46013 <br /> MAH Cedar Glen, LP <br /> c/o Merchants Affordable Housing Corp. <br /> 410 Monon Blvd., Suite 350 <br /> Cannel, Indiana 46032 <br /> [SALE DATE], 2020 <br /> Dear Ladies and Gentlemen: <br /> The Sturges Company (the "Underwriter"), on its own behalf and not as your agent or <br /> fiduciary, offers to enter into this Bond Purchase Agreement with the City of South Bend, <br /> Indiana(the"Issuer"), and MAH Cedar Glen, LP, an Indiana limited partnership (the"Owner"). <br /> The Issuer is authorized to issue the above-captioned bonds (the "Bonds"), pursuant to <br /> and in accordance with Indiana Code, Title 36, Article 7, Chapters 11.9 and 12, as amended (the <br /> "Act"), and an ordinance adopted by the Issuer, and are secured by a Trust Indenture, dated as of <br /> April 1, 2020 (the "Indenture"), between the Issuer and The Huntington National Bank, as <br /> trustee (the "Trustee"). The Bonds will mature on the date and in the amount and will bear <br /> interest at the rate shown on Schedule I hereto. The proceeds of the Bonds will be used to <br /> provide funds to finance a loan (the "Loan") to the Owner to provide for the acquisition, <br /> construction, improving and equipping of a 179-unit affordable rental housing project located in <br /> City of South Bend, Indiana(the"Project"). <br /> Section 1. Purchase, Sale and Delivery of Bonds. On the basis of the representations, <br /> warranties and agreements contained herein, but subject to the terms and conditions herein set <br /> forth, the Underwriter shall purchase the Bonds from the Issuer at a purchase price of <br /> [$ ], that being equal to the principal amount of the Bonds [$ ], plus <br /> accrued interest [$ ] to the Closing Date (as defined herein). In addition, the <br /> Underwriter shall deliver to the Trustee for the account of the Issuer a negative arbitrage deposit <br /> of [$ ]. For its services hereunder, the Underwriter shall receive a fee equal to <br /> 1$ ] payable in immediately available funds on the Closing Date and, after execution <br /> and delivery of this Bond Purchase Agreement, shall be reimbursed by the Owner not less than <br /> one business day prior to the Closing Date in immediately available funds for the negative <br /> arbitrage deposit amount. In the event the Underwriter does not pay for and take delivery of the <br />