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the Petition for Approval. The annual maximum lease rental payment is $2,950,000 payable in semiannual installments on June 30 and December 30 beginning not later than June 30, 2009. The total term of the Lease shall not exceed twenty-three (23) years. The approval is limited to the Project described in file #08-005 as presented the School Property Tax Control Board and the Commissioner for consideration. Additionally, as stated above, as a condition of this Order, SBCSC, over the next 12 months, shall work in good faith with the City of South Bend to explore viable alternative uses for the existing Marquette school building. If the construction bids received for the Project are lower than the estimated construction costs presented to the Department, the school corporation and the school building corporation shall amend the lease to lower the lease rental payment to amounts which will amortize the debt. The debt will be limited to total construction bids, costs of issuance, soft construction costs, and construction contingencies. In total, the cost of issuance, soft construction costs and construction contingencies shall not exceed amounts presented to the Department for consideration. To obtain a debt service rate for 2008 pay 2009, the unit must comply with IC 6-1.1-17-3. In addition, on or before December 31, 2008 the unit must execute the above issues and file with the Departmengay amortization schedule. Dated this of June, 2008 DEPAR NT OF LOCAL GOVERNMENT FINANCE Cheryl A.W. Wgrave, Commissioner STATE OF INDIANA DEPARTMENT OF LOCAL GOVERNMENT FINANCE I, Timothy J. Rushenberg, General Counsel for the Department of Local Government Finance, hereby certify that the above is an order of the Commissioner of the Department of Local Government Finance made this date in the above -entitled matter and that the Commissioner has personally signed the same under her statutory authority. }� WITNESS AND SEAL of this Commissioner on this the ' day of June, 2008 Timo J. Rus$er Gkener1 unsel Ind. Code 5-1-18 et seq requires local units of government to provide debt information to the Department not later than December 31 of the year in which the bonds are issued or the lease is executed. In addition, local units of government are also required to annually (before March 1) provide the Department with information regarding their outstanding debt obligations. The documents that must be completed can be found on the DLGF website: htto://www.in.eov/dlef/ratrddebt rwortine.html. Please submit completed documents electronically to dataQdlef in. uov. Questions regarding these documents maybe directed to Chuck McLean at (317) 232-3774. Page 6 of 6