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

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ARTICLE VI PROCEEDS OF BONDS; BOND PROCEEDS FUND Section 601. Deposits in the Bond Proceeds Fund. The Bond Proceeds Fund shall be a temporary closing account for the purposes stated in this Section. The proceeds from the sale of the Bonds shall be received by the Trustee and deposited to the credit of the Bond Proceeds Fund concurrently with the initial delivery of the Bonds. The funds thus received by the Trustee shall be disbursed, paid and transferred pursuant to instructions of the Escrow Agreement. ARTICLE VII INVESTMENTS Section 701. [Intentionally Omitted]. Section 702. Investment of Bond Fund Moneys. Any moneys held as part of the Bond Fund shall, at the written request of the Authorized Partnership Representative, be invested or reinvested by the Trustee. The said written request shall specify the issuer or obligor, the principal amount, maturity date and interest rate of such investment. Any such investments shall be held by or under control of the Trustee and shall be deemed at all times a part of the Bond Fund and the interest accruing thereon and any profit realized therefrom shall be credited to such fund and any loss resulting from such investments shall be charged to such fund. The Trustee shall sell and reduce to cash funds a sufficient portion of investments under the provisions of this Section 702 whenever the cash balance in the Bond Fund is insufficient to pay the principal of, premium, if any, and interest on the Bonds as and when payable. Section 703. Investments Through Trustee's Bond Department. The Trustee may make any and all investments permitted by the provisions of Sections 701 and 702 through its own bond department. Section 704. Arbitrage. With respect to the authority to invest granted in Article VII of this Indenture, the Trustee covenants that at any time that it has discretion as to such investments it will not use or invest the proceeds of the Bonds in any manner which will cause the Bonds to become arbitrage bonds within the meaning of Section 103(c) of the Code. With respect to Section 103(c) of the Code, the Borrower has made certain covenants to the Issuer in Section 3.6 of the Loan Agreement, which covenants by this reference are incorporated herein and made a part hereof, and the Issuer hereby covenants with the holders of the Bonds that so long as any principal installment of the Bonds remains outstanding the Issuer will not take or authorize the taking of any action which will cause the -25-