Bill No. 20-22 Amending Bond Ordinance_City of South Bend, Indiana Variable Rate Economic Development Revenue Bonds, Series 2007 (PEI_Genesis Project)

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13 to preliminary planning and studies; architectural, legal, engineering, accounting, consulting, supervisory and other services; labor, services and materials; and recording of documents and title work; (b) Premiums attributable to any surety bonds and insurance required to be taken out and maintained during the Construction Period with respect to the Project; (c) Taxes, assessments and other governmental charges in respect to the Project that may become due and payable during the Construction Period; (d) Costs incurred directly or indirectly in seeking to enforce any remedy against any contractor or subcontractor in respect of any actual or claimed default under any contract relating to the Project; (e) Financial, legal, accounting, printing and engraving fees, charges and expenses, and all other fees, charges and expenses incurred in connection with the authorization, sale, issuance and delivery of the Project Bonds, including, without limitation, the fees and expenses of the Issuer, Issuer’s Counsel, Bond Counsel, Borrower’s counsel, the Trustee and the Underwriter and its counsel; provided, however, any fees and expenses incurred in connection with the issuance of the Project Bonds and paid with Project Bond proceeds shall not exceed 2% of the proceeds of the Project Bonds within the meaning of Section 147(g) of the Code; (f) Reserved; and (g) Any other incidental and necessary costs, expenses, fees and charges relating to the acquisition, construction or installation of the Project. Any disbursements from the Project Fund described above to pay such fees, costs or expenses or to reimburse the Borrower for the payment of such fees, costs or expenses shall be made by the Trustee only upon the written order of the Authorized Borrower Representative and only with the written approval of the Bank, if any, and the Initial BSBY Rate Bond Purchaser. Each such written order shall be in substantially the form of the disb ursement request attached hereto as Exhibit D and shall be consecutively numbered and accompanied by invoices or other appropriate documentation supporting the payments or reimbursements requested. Any disbursement for any item the cost for which is other than as described in the Tax Certificate shall be accompanied by the computation referred to in item (e) of Exhibit D evidencing that the average reasonably expected economic life of the facilities being financed by the Project Bonds is not less than 5/6ths of the average maturity of the Project Bonds or by an opinion of Bond Counsel to the effect that such disbursement will not result in the interest on the Project Bonds becoming subject to federal income taxation. If no computation as set forth in item (e) of Exhibit D is made, the Trustee may conclusively presume that the item is described in the Tax Certificate. In case any contract provides for the retention by the Borrower of a portion of the contract price, there shall be paid from the appropriate Pro ject Fund only the net amount remaining after deduction of any such portion and, only when that retained amount is due and payable, may it be paid from that Project Fund. Any moneys in the Project Fund remaining after the Completion Date and payment, or provision for payment, of the costs of financing the Project described above, at the direction of the