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

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thereof to be prepaid, shall be given by mailing a copy of the prepayment notice by registered or certified mail not less than sixty (60) nor more than ninety (90) days prior to the date fixed for prepayment to the registered owner of the Taxable Note to be prepaid at the address shown on the registration books of the Borrower. SECTION 8. DEFAULTS AND REMEDIES. Section 8.1. Events of Default. The following shall be Events of Default under this Purchase Agreement. (a) Any representation or warranty made by the Borrower to you under or in connection with any Document shall be materially false as of the date on which made. (b) Any representation or warranty made by FBT to you in the FBT Closing Representation Certificate shall be materially false as of the date on which made or FBT shall fail to comply with any of its agreements contained therein, which failure is not remedied within 30 days after written notice from you. (c) Nonpayment of principal of the Taxable Note or the Note when due, or nonpayment of interest upon the Taxable Note or the Note within. 10 days after the same becomes due. (d) The breach by the Borrower of any of the terms or provisions of Sections 5.7 or 5.8. (e) The breach by the Borrower or FBT (other than a breach which constitutes an Event of Default under Sections 8.1(a), (c) or (d)) of any of the terms or provisions of the Purchase Agreement which is not remedied within 30 days after written notice from you. (f) The occurrence of any "Event of Default", as defined in any Document or the breach of any of the terms or provisions of any Document, which default or breach continues beyond any period of grace therein provided. (g) Failure of the Borrower or FBT to pay any Indebtedness when due, or the default by the Borrower or FBT in the performance of any other term, provision or condition contained in any agreement under which any such Indebtedness was created or is governed, the effect of which is to cause, or to permit the holder or holders of such Indebtedness to cause, such Indebtedness to become due prior to its stated maturity. (h) The Borrower, any general partner of the Borrower or FBT shall (i) have an order for relief entered with respect to it under the Federal Bankruptcy Act, (ii) not pay, or admit in writing its inability to pay, its debts generally as they become due, (iii) make an assignment for the benefit of creditors, (iv) apply for, seek, consent to, or acquiesce in, the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it or any substantial part of its property, (v) institute any proceeding seeking an order for relief under the Federal Bankruptcy Act or seeking to adjudicate it a bankrupt or insolvent, -15-