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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50 such redemption no Holder shall retain Bonds in an aggregate amount less than $100,000, and (2) if less than all of an outstanding Bond of one maturity in a book-entry system is to be called for redemption, the Trustee shall give notice to the Depository or the nominee of the Depository that is the Holder of such Bond, and the selection of the beneficial interests in that Bond to be redeemed shall be at the sole discretion of the Depository and its participants. In the case of a partial redemption of Bonds by lot each unit of face value of principal thereof equal to $5,000 (each such $5,000 unit is hereinafter referred to as a “Unit”) shall be treated as though it were a separate Bond in the amount of such Unit. If it is determined that one or more, but not all of the Units represented by a Bond are to be called for redemption, then upon notice of redemption of a Unit or Units of Bonds, the Holder of that Bond shall surrender the Bond to the Trustee (a) for payment of the redemption price of the Unit or Units of Bonds called for redemption (including without limitation, the interest accrued to the date fixed for redemption and any premium), and (b) for issuance, without charge to the Holder thereof, of a new Bond or Bonds of the same series, of $100,000 or amounts in excess thereof in such integrals as are permitted hereunder, aggregating a principal amount equal to the unmatured and unredeemed portion of, and bearing interest at the same rate and maturing on the same date as, the Bond surrendered. Section 4.03. Issuer’s Election to Redeem.Except in the case of redemption pursuant to any mandatory sinking fund requirements or pursuant to other mandatory redemption provisions hereof, Bonds shall be redeemed only by written notice from the Issuer to the Trustee, the Bank, and the Confirming Bank, if any, given at the direction of the Borrower, or by written notice from the Borrower to the Trustee, the Bank, and the Confirming Bank, if any, on behalf of the Issuer. That notice shall specify the redemption date and the principal amount of each maturity of Bonds to be redeemed, and shall be given at least 45 days prior to the redemption date or such short er period as shall be acceptable to the Trustee. Except with the prior written consent of the Bank and the Confirming Bank, if any, in the case of any optional redemption of Project Bonds pursuant to Section 4.01(b) or (c) hereof, there shall be Eligible Funds on deposit with the Trustee prior to the giving of the notice required by Section 4.04 hereof in an amount which will be sufficient to redeem at the redemption price thereof and interest accrued to the redemption date, all of the Project Bonds for which notice of redemption is to be given. Section 4.04. Notice of Redemption.Unless waived by any Holder of Bonds to be redeemed, official notice of any such redemption shall be given by the Trustee or the Trustee on behalf of the Issuer by mailing a copy of an official redemption notice by first-class mail at least 30 days and not more than 60 days prior to the date fixed for redemption (except in the case of a Section 4.01(a) redemption, in which case such notice shall be given at least 5 days and not more than 15 days prior to the date fixed for redemption) to the registered owner of the Bond or Bonds to be redeemed at the address shown on the Register or at such other address as is furnished in writing by such registered owner to the Trustee. The Trustee shall send a copy of such notice to the Remarketing Agent. All official notices of redemption shall be dated and shall state: (a) the redemption date; (b) the redemption price;