12-13-2021 FINAL Packet - Laserfiche WebLink

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2 WHEREAS, pursuant to IC 36-7-14-27, IC 36-7-14-25.2 and IC 36-7-14-25.3, the lease rentals under the Lease (the “Lease Rental Payments”) are payable from a special tax levied and collected by the Redevelopment Commission on all taxable property within the City of South Bend Redevelopment District, or at the Redevelopment Commission’s option, any other revenues legally available to the Redevelopment Commission; and WHEREAS, in order to secure the payment of the Bonds, the Building Corporation has assigned its rights under the Lease, including the right to receive the Lease Rental Payments, to the Issuer pursuant to the terms of the Financing Agreement, and the Issuer now desires to assign its rights under the Lease, including the right to receive the Lease Rental Payments, to the Trustee pursuant to the terms of this Indenture; and WHEREAS, pursuant to this Indenture, the Series 2022 Bonds shall be payable solely from payments derived from Lease Rental Payments (defined herein) and proceeds from the Series 2022 Bonds; and WHEREAS, the execution and delivery of this Trust Indenture, and the issuance of the Series 2022 Bonds hereunder, have been in all respects duly and validly authorized by an ordinance duly passed and approved by the Common Council of the Issuer; and WHEREAS, the Bonds and the Trustee’s certificate of authentication to be endorsed thereon are all to be substantially in the form provided in this Indenture; NOW, THEREFORE, THIS INDENTURE WITNESSETH: That in order to secure the payment of the principal of and interest on the Bonds to be issued under this Indenture according to their tenor, purport and effect, and in order to secure the performance and observance of all the covenants and conditions herein and in said Bonds contained, and in order to declare the terms and conditions upon which the Bonds are issued, authenticated, delivered, secured and accepted by all persons who shall from time to time be or become holders thereof, and for and in consideration of the mutual covenants herein contained, of the acceptance by the Trustee of the trust hereby created, and of the purchase and acceptance of the Bonds by the holders or obligees thereof, the Issuer has executed and delivered this Indenture, and by these presents does hereby convey, grant, assign, pledge and grant a security interest in, unto the Trustee, its successor or successors and its or their assigns forever, with power of sale, all and singular, the property, real and personal hereinafter described (the “Trust Estate”): GRANTING CLAUSES DIVISION I All right, title, and interest of the Issuer in and to the Financing Agreement and the Lease (except the rights reserved to the Issuer), including the all right, title, and interest of the Issuer in the Lease Rental Payments; and All right, title and interest of the Issuer in and to the Lease Rental Payments (such pledge to be effective as set forth in IC 5-1-14-4 and IC 6-3.6-10-6 without filing or recording of this Indenture or any other instrument); DIVISION II