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

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Section 2.12. Environmental Indemnity Agreement. You shall receive on the Closing Date an Environmental Indemnity Agreement in the form attached hereto as Exhibit N (the "Environmental Indemnity"). Section 2.13. Environmental Protection; Audit. (a) You shall have received evidence satisfactory to you of the issuance, on terms satisfactory to you, by the appropriate Federal, state, county, regional or local authorities, of all licenses, approvals or permits necessary in connection with the operation of the Project and lawful occupancy thereof for the purpose for which such Project was created (including the issuance by any Federal, state, county, regional or local authority whose jurisdiction involves environmental protection of any such licenses, approvals or permits). (b) Not less than ten (10) days before the Closing Date, you shall have received and approved a Phase I environmental report prepared by an accredited environmental engineer certifying that the Project is free of toxic and /or Hazardous Wastes. This Phase I environmental report shall include the following items: 1. A review of the Project and surrounding land use history including a review of time comparison aerial photography; 2. Findings as a result of contact with Federal, State and Local regulatory officials regarding possible chemical releases, site investigations, environmental actions or past permits relating to the Project; 3. A site inspection, including a walk- through by an environmental engineer and /or chemical engineer; 4. An interview with any current tenants to identify potential past and/or present uses of toxic Hazardous Materials; and 5. A review of matters of record affecting the Project. Dependent upon the results of the Phase I report, additional testing and reports (including, but not limited to a Phase II environmental report) may be required. Section 2.14. Engineer's Report. You shall have received, not less than ten (10) days before the Closing Date, a report prepared by , addressing the structural and mechanical integrity of the Project (the "Engineer's Report"). The Engineer's Report shall be dated as of a current date and shall be satisfactory to you in all respects. SECTION 3. WARRANTIES AND REPRESENTATIONS OF THE ISSUER. The Issuer warrants and represents to you and to the Borrower that each of the representations and warranties of the Issuer set forth in Section 2.1 of the Loan Agreement is true and correct as of the date of execution and delivery hereof. I on