Authorizing the city Amend Documents Relating to its economic development refunding revenue bond series 1983

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SENT BY; 1 CE MILL Elt ;111-2b-02 a: rrM , Luny r LtA i tit Z l�2u4" 11 r„* n • s : v IAl • •A. . REEM zs s t • s P t �� AGREEMENT This First Amendment to Loan Agreement and Bond Purchase Agreement ("Amendment") dated as of October 1, 1992, by and among the CITY OF SOUTH BEND, a municipal corporation organized under the laws of the State of Indiana("Issuer"), COLUMBIA PLACE ASSOCIATES, a limited partnership organized and existing under the laws of the State of Indiana("Company"), and UNUM LIFE INSURANCE COMPANY OF AMERICA, a Maine corporation formerly known as Unionmutual Stock Life Insurance Co. of America ("Bondholder") WITNESSETH: WHEREAS, the Issuer, the Company, and the Bondholder have entered into the Loan Agreement and Bond Purchase Agreement dated as of August 1, 1983 ("Loan Agreement and Bond Purchase Agreement") in order to provide for the issuance of and security for the Issuer's Economic Development Refunding Revenue Bond, Series 1983 (Columbia Place Associates Project), dated as of August 1, 1983 in the principal amount of$1,700,000 ("Bond"); and WHEREAS, the Company and the Bondholder requested that this Amendment be entered into in order to amend the Loan Agreement and Bond Purchase Agreement so as to change the interest rate on the remaining outstanding principal amount of the Bond, to change the remaining principal repayment schedule, to provide additional remedies to the Bondholder upon the occurrence of an Event of Default, to provide for certain waivers of rights by the Company in the event of bankruptcy, and to recognize the existence of an interest bearing escrow account to be funded by Company in the manner set forth therein; and WHEREAS, this Amendment is being entered into pursuant to Article 1X, Section 9.4 of the Loan Agreement and Bond Purchase Agreement; NOW THEREFORE, the parties hereto agree as follows: Section 1. =intim and reference. All capitalized terms not otherwise defined herein shall have the meanings assigned to them in the Loan Agreement and Bond Purchase Agreement. All references to the Loan Agreement and Bond Purchase Agreement shall mean the Loan Agreement and Bond Purchase Agreement as amended by this Amendment. Section 2. : „ 'ALA i • i- : . :,. , ' tft _t L. The Loan Agreement and Bond Purchase Agreement 1s hereby amended as follows: (a) Section 7.2 of the Loan Agreement and Bond Purchase Agreement is amended to add the following as an additional remedy upon the occurrence of an Event of Default: (c) Company, at the election of Bondholder, shall immediately provide Bondholder with either a deed in lieu of foreclosure in form and substance