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

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prepayments of principal marked on such New Taxable Note, as provided in clause (ii) above, shall be deemed to have been made thereon. (b) Upon the issuance of a New Taxable Note pursuant to Section 6.5(a) or (c), the Borrower may require the payment of a sum to reimburse it for, or to provide it with funds for, the payment of any tax or other governmental charge or any other charges and expenses connected therewith which are paid or payable by the Borrower. (c) All New Taxable Notes issued pursuant to Section 6.5(a) or (c) in exchange for or in substitution or in lieu of Old Taxable Notes shall be valid obligations of the Borrower evidencing the same debt as the Old Taxable Notes and shall be entitled to the benefits and security of the Mortgage and the Assignment of Leases to the same extent as the Old Taxable Notes. Section 6.7. Ownership. The Person in whose name any Taxable Note shall be registered shall be deemed and treated as the owner thereof for all purposes of this Loan Agreement. Payment of or on account of the principal of, premium, if any, and interest on such Taxable Note shall be made only to or upon the order in writing of such registered owner. For the purpose of any request, direction or consent hereunder, the Borrower may deem and treat the registered owner of any Taxable Note as the owner and holder thereof without production of such Taxable Note. SECTION 7. PREPAYMENT OF TAXABLE NOTE. Section 7.1. Prepayment. (a) The Taxable Note is subject to prepayment in whole or in part from moneys deposited with the Trustee in the Bond Fund pursuant to the terms of Section 503(c) of the Indenture. If called for prepayment as a result of such event, the Taxable Note shall be subject to prepayment by the Borrower in whole or part at a prepay- ment price of 100% of the principal amount thereof plus accrued interest to the prepayment date. (b) The Taxable Note is subject to prepayment at the option of the Borrower prior to maturity on any installment payment date on or after May 1, 1997, in whole or in part (pro rata as provided in Section 7.4 hereof) in integral multiples of $1,000, by payment of the principal amount of the Taxable Note, or portion thereof to be prepaid, and accrued interest thereon to the prepayment date together with a premium equal to the Make -Whole Amount, determined as of two Business Days prior to the date of such prepayment pursuant to this Subsection 7.1(b). The provisions of this Subsection 7.1(b) shall not be deemed to require the payment of any penalty or premium upon the maturity of the Taxable Note in accordance with the maturities stated on the face thereof. The Taxable Note shall not, however, be subject to prepayment under this Subsection 7.1(b), if and so long as the Bonds are outstanding, unless any such prepayment shall be accompanied by a proportional prepayment of the Bonds. Section 7.2. Notice of Prepayment. Notice of the call for any prepayment of the Taxable Note pursuant to Section 7.1 hereof, identifying the Taxable Note or portions -14-