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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53 in the Project Fund into which proceeds of Additional Bonds are to be deposited upon the issuance of those Additional Bonds, the Trustee shall establish a separate subaccount within that Project Fund, for accounting purposes, for the deposit of the proceeds of the issue of Additional Bonds in accordance with this Section. Pending disbursement pursuant to the Agreement, the moneys and Eligible Investments to the credit of each Project Fund shall constitute a part of the Revenues assigned to the Trustee as security for the payment of the Bond Service Charges. Section 5.02. Disbursements From and Records of Project Fund.Moneys held in the Project Fund representing proceeds of the sale of the Project Bonds shall be disbursed by the Trustee in accordance with the provisions of the Agreement to pay the costs of the appropriate portions of the Project, including the issuance costs as provided in and subject to the Agreement and to pay the capitalized interest costs on the Project Bonds, if any. The Trustee is hereby authorized to make each disbursement required by the provisions of the Agreement. The Trustee shall cause to be kept and maintained adequate records pertaining to the Project Fund and all disbursements therefrom. If requested by the Bank, the Issuer or the Borrower, the Trustee shall file copies of the records pertaining to the Project Fund and all disbursements from such fund with the Bank, the Issuer and the Borrower. Upon the occurrence and continuance of an Event of Default hereunder, because of which the principal amount of the Bonds has been declared to be due and payable immediately pursuant to Section 7.03 hereof, any moneys remaining in the Project Fund shall be promptly transferred by the Trustee to the Bond Fund. Section 5.03. Creation of Bond Fund; Letter of Credit; Confirming Letter of Credit. (a) Bond Fund. There is created by the Issuer and ordered maintained as a separate deposit account (except when invested as hereinafter set forth) in the custody of the Trustee a trust fund to be designated “City of South Bend, Indiana Variable Rate Demand Economic Development Revenue Bonds, Series 2007 (PEI/Genesis Project) Bond Fund.” Unless otherwise set forth in the applicable Bond Legislation or Supplemental Indenture relating to the issuance of a series of Additional Bonds, there shall be deposited in the Bond Fund (and credited, if required by this Indenture or the Agreement to appropriate accounts therein), from the proceeds of the sale of the Bonds, any accrued interest paid by the purchasers of the Bonds. Except as otherwise provided herein, the Trustee shall deposit in the Bond Fund upon receipt all Revenues other than Bond proceeds deposited in the Project Fund, including all moneys received upon drawings made under the Letter of Credit and the Confirming Letter of Credit (provided that all moneys received upon drawings made under the Confirming Letter of Credit shall be deposited into a sub-account of the Bond Fund), if any (except as otherwise provided in Section 6.15 hereof) and any other amounts which, under the terms of this Indenture, the Notes, the Agreement, the Reimbursement Agreement, the Letter of Credit or the Confirming Letter of Credit, if any, are to be applied to the payment of Bond Service Charges. Except as provided herein, the Bond Fund (and accounts therein for which provision is made herein or in the