Regarding Issurance of economic development revenue refunding bonds Regency Place Project

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SENT BY:KUTAKR0CK +11- 4-92 ; 2:25PM ; 2022230491-0 12192371125 432 ARTICLE II THE BONDS Section 201. Authorized Amount of Bonds; Details of Bonds. Bonds may not be issued under this Indenture except in accordance with this Article. The Bonds initially issued hereunder in the aggregate principal amount of$4„340,000 shall consist of bonds designated "City of South Bend Health Care Facilities Revenue Refunding Bonds Fountainview Place of South Bend Issue (FHA Insured Project) Series 1992 A.” The Bonds shall provide that the principal of, premium, if any, and interest on the Bonds shall be payable only out of the Trust Estate and that there • shall be no other recourse against the Issuer or any property now or hereafter owned by it. The Bonds shall be dated November 1, 1992, and shall be issuable in fully registered form without coupons in denominations of$5,000 or any integral multiple thereof. The Bonds shall bear interest, computed on the basis of a 360-day year of twelve 30-day months and payable semiannually on each Payment Date until the principal sum is paid or duly provided for, at the rates per annum, and shall mature on dates and in amounts as follows: Maturity Principal Interest Date Amount Rate February 1, 2012 10.5% August 1, 2012 10.5% • The Person in whose name any Bond is registered on the Regular Record Date with respect to a Payment Date shall be entitled to receive the interest payable on such Payment Date (unless such Bond has been called for redemption on a redemption date which is prior to such Payment Date) notwithstanding the cancellation of such Bond upon any registration of transfer or exchange thereof subsequent to such Regular Record Date and prior to such Payment Date; provided, however, that, if and to the extent the Issuer shall default in the payment of the interest due on any Payment Date, such defaulted interest shall be paid as provided in the next paragraph. Any interest on any Bond that is payable, but is not punctually paid or duly provided for, on any Payment Date (herein called "Defaulted Interest") shall forthwith cease to be payable to the Bondholder on the relevant Regular Record Date by virtue of having been such Bondholder. The Trustee may elect to make payment of any Defaulted Interest to the Persons in whose names the Bonds (or their respective predecessor Bonds) are registered at the close of business on a special record date for the payment of such Defaulted Interest (a "Special Record Date"), which shall be fixed in the following manner. The Trustee shall determine the amount of Defaulted Interest proposed to be paid on each Bond and the date of the proposed payment, shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 3132.1 13