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Section 13. All the covenants, promises and agreements in <br /> this Escrow Agreement contained by or on behalf of the Issuer or by <br /> or on behalf of the Escrow Agent shall bind and inure to the <br /> benefit of their respective successors and assigns, whether so <br /> expressed or not. <br /> Section 14. This Escrow Agreement may be executed in several <br /> counterparts, all or any of which shall be regarded for all <br /> purposes as one original and shall constitute and be but one and <br /> the same instrument. <br /> Section 15. This Agreement shall be governed by and construed <br /> in accordance with the laws of the State of Indiana. <br /> Section 16. Any notice, request, communication or other paper <br /> shall be sufficiently given and shall be deemed given when <br /> delivered or mailed, by registered or certified mail, postage <br /> prepaid or sent by telegram as follows: <br /> if to the Issuer at City of South Bend <br /> (Attn: Controller) <br /> 1400 County-City Building <br /> South Bend, Indiana 46601; and <br /> if to the Escrow Agent at Norwest Bank Indiana, N.A. <br /> 112 West Jefferson Blvd. <br /> South Bend, Indiana 46601 <br /> The Issuer and the Escrow Agent may designate any further or <br /> different addresses to which subsequent notices, requests, <br /> communications or other papers shall be sent. <br /> Section 17. The Issuer and the Escrow Agent covenant that any <br /> monies attributable to the proceeds of the Prior Bonds, if any, any <br /> moneys attributable to the proceeds of the Refunding Bonds, amounts <br /> received from the investment of the proceeds of the Refunding Bonds <br /> and any other amounts treated as proceeds thereof under the <br /> provisions of the Internal Revenue Code of 1986, as amended, (the <br /> "Code") or any of the regulations and rules adopted pursuant <br /> thereto, shall not be invested or otherwise used in a manner which <br /> would cause the Prior Bonds or the Refunding Bonds to be "arbitrage <br /> bonds" within the meaning of Section 148 of the Code and such <br /> regulations or rules as may be applicable thereto. <br /> IN WITNESS WHEREOF, the parties hereto have caused this Escrow <br /> Agreement to be executed for and on their behalf as of the day and <br /> year first herein above written. <br /> CITY OF SOUTH BEND, INDIANA <br /> ATTEST: Mayor <br /> City Clerk <br /> NORWEST BANK INDIANA, N.A. <br /> By: <br /> ATTFRT! Its: <br />