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<br /> WHEREAS, the Issuer, as requested by the Developer, has determined to issue, sell and
<br /> deliver "$4,340,000 City of South Bend, Health Care Facilities Revenue Refunding Bonds,
<br /> Fountainview Place of South Bend Issue (FHA Insured Project) Series 1992 A" (the "Bonds")
<br /> pursuant to the Act and this Indenture to make funds available for the refunding of the 1982
<br /> Bonds and the refmancing of the Project; and
<br /> WHEREAS, upon the redemption of the 1982 Bonds, the Note and the Mortgage will be
<br /> held by the Trustee as security for the Bonds and FHA will continue to insure the advances of
<br /> funds secured by the Mortgage and Note; and
<br /> WHEREAS, the Issuer, by Ordinance No. [ ] adopted by the City Council of the Issuer
<br /> on [Date], approved the issuance of the Bonds for the purpose of redeeming the 1982 Bonds;
<br /> and
<br /> WHEREAS, all requirements of law have been fully complied with, and all other acts
<br /> and things necessary to make the Bonds,when executed by the Issuer and when authenticated
<br /> and delivered by the Trustee, duly issued, legal, valid and binding obligations of the Issuer, and
<br /> all other acts and things necessary to constitute this Indenture a legal, valid and binding
<br /> instrument for the security of the Bonds have been done and performed;
<br /> NOW, THEREFORE, the Issuer, in consideration of the premises and the acceptance by
<br /> the Trustee of the trusts hereby created and of the purchase and acceptance of the Bonds by the
<br /> owners thereof, and for other good and valuable consideration, the receipt of which is hereby
<br /> acknowledged, in order to secure the payment of the principal of, premium, if any, and interest
<br /> on the Bonds according to their tenor and effect and the performance and observance by the
<br /> Issuer of all the covenants expressed or implied herein and in the Bonds, does hereby bargain,
<br /> sell, convey, pledge, assign and grant a security interest unto the Trustee in and to the
<br /> following, subject only to the provisions of this Indenture permitting the application thereof or
<br /> to the purposes and on the terms and conditions set forth herein (said property being herein
<br /> referred to as the "Trust Estate"), to wit:
<br /> GRANTING CLAUSE ONE
<br /> All right, title and interest of the Issuer in the Loan Agreement (hereinafter defined), the
<br /> Loan and the Note, the Mortgage and all other security therefor or certificates or instruments
<br /> evidencing the same, and all amendments, modifications and renewals thereof, and all FHA
<br /> mortgage insurance or casualty insurance proceeds or condemnation awards payable with respect
<br /> thereto, and any interest earnings thereon, provided, however, that the Trust Estate shall not
<br /> include either (a) any payments received by the Trustee which are to be applied by the Trustee
<br /> (as mortgagee under the Mortgage), pursuant to paragraph (9)(c)(I) or (II) of the Mortgage or
<br /> 3152.1 2
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