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The City of South Bend irrevocably pledges the entire Net Revenues of <br />said Sewage Works to the prompt payment of the principal of and interest on the <br />bonds authorized by the Ordinance, of which this is one, and any bonds ranking on <br />a parity therewith (including the Prior Bonds), to the extent necessary for that <br />purpose, and covenants that it will cause to be fixed, maintained and collected such <br />rates and charges for service rendered by the Works as are sufficient in each year <br />for the payment of the proper and reasonable expenses of operation, repair and <br />maintenance of the Works, to provide for proper depreciation and for the payment <br />of the sums required to be paid into said Sewage Works Sinking Fund under the <br />provisions of the Ordinance. In the event the City or the proper officers thereof <br />shall fail or refuse to so fix, maintain and collect such rates or charges, or if there <br />be a default in payment of the interest on or principal of this bond, the owner of <br />this bond shall have all of the rights and remedies provided for under Indiana law. <br />The City of South Bend further covenants that it will set aside and pay into <br />its Sewage Works Sinking Fund a sufficient amount of the Net Revenues of the <br />Works to (a) pay the principal and interest payments on all bonds payable from the <br />Net Revenues of the Sewage Works, as such principal and interest shall fall due, <br />and (b) pay the necessary fiscal agency charges for paying all bonds and interest as <br />required by the Ordinance. Such required payments shall constitute a first charge <br />upon all the Net Revenues of the Works. <br />[The Bonds maturing on and after 1, 20_, are redeemable at <br />the option of the County on 1, 20_, or any date thereafter, on thirty <br />(30) days' notice, in whole or in part, in inverse order of maturity and by lot within <br />a maturity, at face value, together with the following premiums: <br />_% if redeemed on 1, 20_ or thereafter on <br />or before , 20_; <br />_% if redeemed on 20_ or thereafter <br />prior to maturity; <br />plus in each case accrued interest to the date fixed for redemption.] <br />[Notice of redemption shall be mailed to the address of the Registered <br />Owner as shown on the registration record of the City, as of the date which is <br />forty-five (45) days prior to such redemption date, not less than thirty (30) days <br />prior to the date fixed for redemption. The notice shall specify the date and place <br />of redemption and sufficient identification of the Bonds called for redemption. <br />The place of redemption may be determined by the City. Interest on the Bonds so <br />called for redemption shall cease on the redemption date fixed in such notice, if <br />sufficient funds are available at the place of redemption to pay the redemption <br />price on the date so named.] <br />[The Bonds shall be called for redemption in multiples of $5,000. The <br />Bonds in denominations of more than $5,000 shall be treated as representing the <br />Exhibit A -Page 3 <br />