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registered form (in denominations of$5,000 or any integral multiple thereof) to the assignees of <br /> the Depository or its nominee, all at the cost and expense (including costs of printing or <br /> otherwise preparing and delivering replacement Bond certificates) of those persons requesting <br /> such authentication and delivery, if the event is not the result of Issuer action or inaction <br /> (including action at the request of the Borrower). <br /> The Indenture permits certain amendments or supplements to the Indenture, the <br /> Agreement, the Regulatory Agreement and the Note not prejudicial to the Holders to be made <br /> without the consent of or notice to the Holders, and certain other amendments or supplements <br /> thereto to be made with the consent of the Holders of not less than a majority in aggregate <br /> principal amount of the Bonds then outstanding. <br /> The Holder of each Bond has only those remedies provided in the Indenture. <br /> The Bonds shall not constitute the personal obligation, either jointly or severally, of any <br /> officer of the Issuer. No recourse shall be had for the payment of the Bonds against any elected <br /> or appointed officer, employee or agent of the Issuer, and no elected or appointed officer, <br /> employee or Agent of the Issuer shall have any monetary liability arising out of Issuer's <br /> obligations under the Bonds or in connection with any covenant, representation, or warranty <br /> made by the Issuer. <br /> This Bond shall not be entitled to any security or benefit under the Indenture or be valid <br /> or become obligatory for any purpose until the certificate of authentication hereon shall have <br /> been signed. <br /> It is certified and recited that there have been performed and have happened in regular <br /> and due form, as required by law, all acts and conditions necessary to be done or performed by <br /> the Issuer or to have happened (i) precedent to and in the issuing of the Bonds in order to make <br /> them legal, valid and binding special obligations of the Issuer, and (ii) precedent to and in the <br /> execution and delivery of the Indenture and the Agreement; that payment in full for the Bonds <br /> has been received; and that the Bonds do not exceed or violate any constitutional or statutory <br /> limitation. <br /> IN WITNESS OF THE ABOVE the Issuer has caused this Bond to be executed in the <br /> name of the Issuer by the manual or facsimile signature of its duly authorized officers as of the <br /> date shown above. <br /> CITY OF SOUTH BEND <br /> By: <br /> James Mueller, Mayor <br /> ATTEST: <br /> Dawn Jones, Clerk <br /> RA-4 <br />