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

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obligations of the Issuer and the Trustee, and the rights of the holders of the Bonds, to all the provisions of which the holder hereof by the acceptance of this Bond assents. As described in the Indenture as part of the security for the Bonds, this Bond is secured by a Mortgage, Assignment of Rents and Security Agreement dated as of November 15, 1993 (the "Mortgage ") from the Borrower to the Trustee, constituting a valid first lien on and security interest in the Project for the equal and ratable benefit of the holders of the Bonds and of the holder of the promissory note of the Borrower dated on or about November 30, 1993 in the original principal amount of $2,235,000 (the "Taxable Note"). This Bond is created and issued pursuant to and in full compliance with the Constitution and laws of the State of Indiana, particularly Indiana Code 36 -7 -12, as amended, and pursuant to proceedings duly adopted and approved by the Issuer which proceedings authorized the execution and delivery of the Indenture. This Bond to the extent of the advances hereunder and the interest hereon are limited obligations of the Issuer and are payable solely from (i) payments from the Note (the "Note ") delivered by the Borrower to evidence its obligation to repay the loan made by the Issuer to the Borrower for the purpose of financing a portion the redemption price and amount required to prepay the Prior Bonds, and otherwise as provided in a Loan Agreement, dated as of November 15, 1993, by and between the Issuer and the Borrower (the "Loan Agreement"), (ii) proceeds from the Mortgage and any other security given for the Bonds, (iii) amounts and investments from time to time on deposit in the Bond Fund created under the Indenture, and (iv) any other security from time to time given for the Bonds. Pursuant to the Loan Agreement, payments on the Note sufficient for the prompt payment when due of the principal of, premium, if any, and interest on this Bond are to be made by the Borrower to the Trustee for the account of the Issuer and deposited in a special account created by the Issuer and designated "City of South Bend, Indiana, Economic Development Revenue Refunding Bonds (First Bank Center Project) Bond Fund "; such payments have been duly assigned and pledged to the Trustee for that purpose; and under the Indenture the rights of the Issuer under the Loan Agreement and the Note have been assigned and pledged to the Trustee to secure payment of such principal of, premium, if any, and interest on this Bond. The obligations of the Borrower under the Loan Agreement, the Note and the Mortgage are nonrecourse as to any partner of the Borrower. This Bond and the interest thereon do not now and shall never constitute an indebtedness of or a charge against the general credit or taxing power of the Issuer. This Bond is transferable by the registered holder hereof in person or by his attorney duly authorized in writing at the principal office of the Trustee in Indianapolis, Indiana, but only in the manner, subject to the limitations and upon payment of the charges provided in the Indenture, and upon surrender and cancellation of this Bond. Upon such transfer a new registered Bond or Bonds without coupons for an aggregate principal amount equal to the unpaid principal amount of the Bond so surrendered will be issued to the transferee in exchange therefor. The Issuer and the Trustee may deem and treat the registered holder hereof as the absolute owner hereof for the purpose of receiving payment of or on account of principal hereof and premium, if any, thereon and interest due hereon and for all other purposes and me