8448-93 Authorizing City of South Bend Economic Development Revenue Refunding Bonds (First Bank Center Project) $8,030,384.77

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BOND AND NOTE PURCHASE AGREEMENT RE: $8,030,384.77 Economic Development Revenue Refunding Bonds (First Bank Center Project) (the "Bonds ") of CITY OF SOUTH BEND, INDIANA and [$2,235,000] 6.90% Secured Note due April 1, 2012 of FIRST BANK CENTER LIMITED PARTNERSHIP (the "Taxable Note ") Dated as of November 15, 1993 Allstate Life Insurance Company Private Placements Department Allstate Plaza West J2A 3100 Sanders Road Northbrook, Illinois 60062 Ladies and Gentlemen: The undersigned, CITY OF SOUTH BEND, INDIANA, a municipal corporation and political subdivision of the State of Indiana (the "Issuer "), and FIRST BANK CENTER LIMITED PARTNERSHIP, a limited partnership organized and existing under the laws of the State of Minnesota (the "Borrower"), hereby severally agree with you and you agree with the Issuer and the Borrower, as follows: SECTION 1. PURCHASE AND SALE OF BONDS AND TAXABLE NOTE. Section 1.1. Purpose of Issue. (a) Pursuant to the authority contained in Indiana Code 36 -7 -12, (the "Act "), the Issuer proposes to issue and sell its bonds as herein provided to provide funds to finance a portion of the redemption price of and the amount required to prepay the Issuer's $9,000,000 Economic Development Revenue Bonds (First Bank Center Project) (the "Prior Bonds ") pursuant to Section 301(b) of that certain Indenture of Trust dated as of March 15, 1981 (the "Prior Indenture ") between the Issuer and The Indiana National Bank, as trustee (the "Prior Trustee"). The Prior Bonds were initially issued to finance a portion of the costs of acquiring and constructing a bank office building located in the City of South Bend, Indiana (the "Project ") and leased to FBT Bancorp, Inc., an Indiana Corporation ( "FBT" ). The Issuer, in accordance with the applicable provisions of a Loan Agreement to be dated as of November 15, 1993 (the "Loan Agreement"), substantially in the form attached hereto as Exhibit E, between the Issuer and the Borrower, and of the hereinafter described Indenture, now proposes to authorize, issue and sell an issue of its