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TRUST INDENTURE
<br /> THIS TRUST INDENTURE dated as of April 1, 2020, is made by and between the
<br /> CITY OF SOUTH BEND, INDIANA, a municipal corporation duly organized and validly
<br /> existing under the laws of the State of Indiana (the "Issuer"), and THE HUNTINGTON
<br /> NATIONAL BANK, a national banking association, with its designated corporate trust office
<br /> located in Indianapolis, Indiana (the "Trustee"), as trustee under the circumstances summarized
<br /> in the following recitals (the capitalized terms not defined in the recitals and granting clauses
<br /> being used therein as defined in Article I hereof):
<br /> A. Pursuant to and in accordance with the laws of the State, including without
<br /> limitation, the Act, the Issuer has determined to issue and sell the Bonds in the aggregate
<br /> principal amount of$4,100,000 and to loan the proceeds to be derived from the sale thereof to
<br /> the Borrower to assist in the financing of the Project to be undertaken by the Borrower;
<br /> B. The Bonds will be secured by this Indenture, and the Issuer is authorized to
<br /> execute and deliver this Indenture and to do or cause to be done all acts provided or required
<br /> herein to be performed on its part;
<br /> C. All acts and conditions required to happen, exist and be performed precedent to
<br /> and in the issuance of the Bonds and the execution and delivery of this Indenture have happened
<br /> exist and have been performed, or at the delivery of the Bonds will exist, will have happened and
<br /> will have been performed (i) to make the Bonds, when issued, delivered and authenticated, valid
<br /> special obligations of the Issuer in accordance with the terms thereof and hereof and (ii) to make
<br /> this Indenture a valid, binding and legal trust agreement for the security of the Bonds in
<br /> accordance with its terms; and
<br /> D. The Trustee has accepted the trusts created by this Indenture, and in evidence
<br /> thereof has joined in the execution hereof;
<br /> NOW, THEREFORE, THIS INDENTURE WITNES SETH, that to secure the payment of
<br /> Bond Service Charges on the Bonds according to their true intent and meaning, to secure the
<br /> performance and observance of all of the covenants, agreements, obligations and conditions
<br /> contained therein and herein, and to declare the terms and conditions upon and subject to which
<br /> the Bonds are and are intended to be issued, held, secured and enforced, and in consideration of
<br /> the premises and the acceptance by the Trustee of the trusts created herein and of the purchase
<br /> and acceptance of the Bonds by the Holders, and for other good and valuable consideration, the
<br /> receipt of which is acknowledged, the Issuer has executed and delivered this Indenture and
<br /> absolutely assigns hereby to the Trustee, and to its successors in trust, and its and their assigns,
<br /> all right, title and interest of the Issuer in and to (i) the Pledged Revenues, including, without
<br /> limitation, all Loan Payments and other amounts receivable by or on behalf of the Issuer under
<br /> the Agreement in respect of repayment of the Loan, (ii) the Special Funds, including all accounts
<br /> in the Special Funds and all moneys deposited therein and the investment earnings on such
<br /> moneys, (iii) subject to the provisions of the Bond Resolution, all right, title and interest of the
<br /> Issuer in the proceeds derived from the sale of the Bonds, and any securities in which moneys in
<br /> the Special Funds are invested, and (except for moneys required to be rebated to the United
<br /> States of America under the Code) the proceeds derived therefrom, and any and all other real or
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