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TRUST AGREEMENT
<br />• THIS AGREEMENT (the "Agreement"), executed and dated as of the
<br />1st day of November, 1989, made and entered into between SOUTH BEND
<br />REDEVELOPMENT AUTHORITY, a public body corporate and politic,
<br />organized and existing under Indiana Code 36-7-14.5, as amended
<br />(hereinafter called the "Authority"), and FIRST INTERSTATE BANK OF
<br />NORTHERN INDIANA, N.A., a national banking association having its
<br />principal office in the City of South Bend, Indiana (hereinafter
<br />called the "Trustee"),
<br />W I T N E S S E T H:
<br />WHEREAS, the Authority was created under and pursuant to the
<br />provisions of Indiana Code 36-7-14.5 (hereinafter referred to as
<br />the "Act"), for the purpose of financing local public improvements
<br />for lease to the South Bend Redevelopment Commission (hereinafter
<br />referred to as the "Commission"); and
<br />WHEREAS, the Authority has determined to borrow the sum of
<br />Four Million Eight Hundred Ninety-Five Thousand Dollars
<br />($4,895,000) for the purpose of procuring funds to pay the cost of
<br />the Project (as hereinafter defined) and to execute and issue its
<br />Lease Rental Revenue Bonds in the form and terms as hereinafter
<br />provided; and
<br />WHEREAS, the Authority intends to lease said Project to the
<br />• Commission pursuant to a lease dated as of November 1, 1989; and
<br />WHEREAS, in order to secure the principal of and premium, if
<br />any, and interest on all of said Bonds and the performance of the
<br />covenants herein contained, the Authority has in like manner
<br />determined to execute and deliver this Agreement; and
<br />WHEREAS, all acts, proceedings and things necessary and
<br />required by law to make said Bonds, when executed by the Authority
<br />and authenticated by the Trustee, the valid, binding and legal
<br />obligations of the Authority and to constitute and make this
<br />Agreement a valid agreement to secure the payment of the principal
<br />of and premium, if any, and interest on the Bonds, have been done,
<br />taken and performed, and the issuance, execution and delivery of
<br />said Bonds, and the execution, acknowledgment and delivery of this
<br />Agreement have, in all respects, been duly authorized by the
<br />Authority in the manner provided and required by law; now
<br />therefore,
<br />SOUTH BEND REDEVELOPMENT AUTHORITY, in consideration of the
<br />premises and the acceptance of such Bonds by the holders thereof,
<br />and the sum of One Dollar ($1) in hand paid by the Trustee, receipt
<br />of which is hereby acknowledged, and especially in order to secure
<br />the punctual payment of the principal of, premium, if any, and
<br />interest on the Bonds to be issued and at any time outstanding
<br />• hereunder as the same shall become due, according to the tenor
<br />hereof and thereof, and the faithful performance of all the
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