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"Maximum Interest Rate"means the interest rate equal to the lesser of(a) 12%per annum, <br /> or(b) the maximum interest rate per annum permitted by the applicable law of the State. <br /> "Note" means the promissory note of the Borrower, dated as of even date with the Bonds <br /> initially issued, in the form attached to the Agreement as Exhibit A and in the principal amount <br /> of$4,100,000, evidencing the obligation of the Borrower to make Loan Payments. <br /> "Notice Address"means: <br /> To the Issuer: City of South Bend, Indiana <br /> 227 W. Jefferson Blvd., Suite 12005 <br /> South Bend. Indiana 46601 <br /> Attn: Corporation Counsel <br /> To the Trustee: The Huntington National Bank <br /> Corporate Trust Department <br /> 45 North Pennsylvania Street—INHP61 <br /> Indianapolis, Indiana 46204 <br /> Attn: John Alexander <br /> To the Borrower: MAH Cedar Glen, LP <br /> c/o Merchants Affordable Housing Corp. <br /> 410 Monon Blvd., Suite 350 <br /> Carmel, Indiana 46032 <br /> With a copy to: Merchants Affordable Housing Corp <br /> 410 Monon Blvd., Suite 350 <br /> Carmel, Indiana 46032 <br /> To the Rating Agency: Moody's Investors Service, Inc. <br /> 7 World Trade Center <br /> 250 Greenwich Street, 16th floor <br /> New York, New York 10007 <br /> Attn: Public Finance Group—Housing Surveillance <br /> E-mail: Housing@moodys.com <br /> or such additional or different address, notice of which is given under Section 13.03 hereof. <br /> "Opinion of Bond Counsel" means an opinion of Faegre Drinker Biddle & Reath LLP or <br /> of other counsel nationally recognized as having an expertise in connection with the exclusion of <br /> interest on obligations of states and local governmental units from the gross income of holders <br /> thereof for federal income tax purposes. <br /> "Opinion of Counsel" means an opinion from an attorney or firm of attorneys, acceptable <br /> to the Issuer and the Trustee with experience in the matters to be covered in the opinion. <br /> - 10 - <br />