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8448-93 Authorizing City of South Bend Economic Development Revenue Refunding Bonds (First Bank Center Project) $8,030,384.77
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8448-93 Authorizing City of South Bend Economic Development Revenue Refunding Bonds (First Bank Center Project) $8,030,384.77
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Last modified
3/21/2013 4:22:24 PM
Creation date
10/1/2012 2:09:23 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
12/13/1993
Ord-Res Number
8443-93
Bill Number
108-93
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Section 9.5. Successors and Assigns. This Agreement shall inure to the benefit of <br />and be binding upon the successors and assigns of each of the parties hereto. The provisions <br />of this Agreement are intended to be for the benefit of all holders, from time to time, of the <br />Bonds and the Taxable Note, and shall be enforceable by any such holder, whether or not an <br />express assignment to such holder of rights under this Agreement has been made by you or <br />your successor or assign. <br />Section 9.6. Governing Law. This Agreement shall be governed by and construed in <br />accordance with the laws of the State of Indiana. <br />Section 9.7. Duplicate Originals. Two or more duplicate originals of this <br />Agreement may be signed by the parties, each of which shall be an original but all of which <br />together shall constitute one and the same instrument. <br />Section 9.8. Limitation on Issuer's Liability. Notwithstanding anything herein or in <br />the Bonds to the contrary, any obligations of the Issuer hereunder or under the Bonds shall <br />not be deemed to be general obligations of the Issuer or any municipality, nor payable in any <br />manner from funds raised by taxation, but shall be payable solely from the proceeds derived <br />from the Loan Agreement and the Note and the lien of the Mortgage and any other revenues <br />arising out of or in connection with the leasing or sale of the Project as provided in the <br />Indenture, the Loan Agreement and the Mortgage. <br />-19- <br />
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