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SOUTH BEND REDEVELOPMENT COMMISSION
<br /> Public Improvement Projects and Beacon District Project
<br /> ILLUSTRATIVE AMORTIZATION OF$28,895,000 PRINCIPAL AMOUNT OF
<br /> TAXABLE LEASE RENTAL REVENUE BONDS,SERIES B(BEACON DISTRICT PROJECT)
<br /> Assumes Bonds dated October 25,2023
<br /> Illustrative True Interest Cost 7.24%
<br /> Illustrative Illustrative Illustrative Illustrative
<br /> Payment Principal Interest Illustrative Total Debt Fiscal Year Annual
<br /> Date Outstanding Principal Rates Interest Service Debt Service Lease Rental
<br /> (1) (2)
<br /> 02/01/24 $28,895,000 $541,691 $541,691 $541,691 $547,000
<br /> 08/01/24 28,895,000 1,015,671 1,015,671
<br /> 02/01/25 28,895,000 1,015,671 1,015,671 2,031,343 2,037,000
<br /> 08/01/25 28,895,000 $405,000 6.50% 1,015,671 1,420,671
<br /> 02/01/26 28,490,000 415,000 6.65% 1,002,509 1,417,509 2,838,180 2,844,000
<br /> 08/01/26 28,075,000 485,000 6.65% 988,710 1,473,710
<br /> 02/01/27 27,590,000 500,000 6.70% 972,584 1,472,584 2,946,294 2,952,000
<br /> 08/01/27 27,090,000 570,000 6.70% 955,834 1,525,834
<br /> 02/01/28 26,520,000 590,000 6.75% 936,739 1,526,739 3,052,573 3,058,000
<br /> 08/01/28 25,930,000 620,000 6.75% 916,826 1,536,826
<br /> 02/01/29 25,310,000 640,000 6.80% 895,901 1,535,901 3,072,728 3,078,000
<br /> 08/01/29 24,670,000 700,000 6.80% 874,141 1,574,141
<br /> 02/01/30 23,970,000 725,000 6.85% 850,341 1,575,341 3,149,483 3,155,000
<br /> 08/01/30 23,245,000 930,000 6.85% 825,510 1,755,510
<br /> 02/01/31 22,315,000 960,000 6.90% 793,658 1,753,658 3,509,168 3,515,000
<br /> 08/01/31 21,355,000 1,070,000 6.90% 760,538 1,830,538
<br /> 02/01/32 20,285,000 1,105,000 6.95% 723,623 1,828,623 3,659,160 3,665,000
<br /> 08/01/32 19,180,000 1,050,000 6.95% 685,224 1,735,224
<br /> 02/01/33 18,130,000 1,085,000 7.00% 648,736 1,733,736 3,468,960 3,474,000
<br /> 08/01/33 17,045,000 1,270,000 7.00% 610,761 1,880,761
<br /> 02/01/34 15,775,000 1,315,000 7.05% 566,311 1,881,311 3,762,073 3,768,000
<br /> 08/01/34 14,460,000 1,355,000 7.05% 519,958 1,874,958
<br /> 02/01/35 13,105,000 1,405,000 7.10% 472,194 1,877,194 3,752,151 3,758,000
<br /> 08/01/35 11,700,000 1,455,000 7.10% 422,316 1,877,316
<br /> 02/01/36 10,245,000 1,505,000 7.15% 370,664 1,875,664 3,752,980 3,758,000
<br /> 08/01/36 8,740,000 1,560,000 7.15% 316,860 1,876,860
<br /> 02/01/37 7,180,000 1,615,000 7.20% 261,090 1,876,090 3,752,950 3,758,000
<br /> 08/01/37 5,565,000 2,000,000 7.20% 202,950 2,202,950
<br /> 02/01/38 3,565,000 2,070,000 7.30% 130,950 2,200,950 4,403,900 4,409,000
<br /> 08/01/38 1,495,000 445,000 7.30% 55,395 500,395
<br /> 02/01/39 1,050,000 460,000 7.40% 39,153 499,153 999,548 1,005,000
<br /> 08/01/39 590,000 140,000 7.40% 22,133 162,133
<br /> 02/01/40 450,000 145,000 7.50% 16,953 161,953 324,085 330,000
<br /> 08/01/40 305,000 150,000 7.50% 11,515 161,515
<br /> 02/01/41 155,000 155,000 7.60% 5,890 160,890 322,405 328,000
<br /> Totals $28,895,000 $20,444,669 $49,339,669 $49,339,669 $49,439,000
<br /> (1) We have prepared the interest rate assumptions using our evaluation of the underlying credit pledge to this financing and
<br /> current market conditions. These factors are subject to change. Changes may result in the actual interest rates varying
<br /> from the interest rates assumed for this analysis and that variance may be material.
<br /> (2) Represents the annual debt service rounded up to the next$1,000 plus$5,000 for Trustee and administrative fees.
<br /> (Subject to the attached letter dated December 2,2022)
<br /> (Preliminary-Subject to Change)
<br /> (For Internal Use Only)
<br /> 5
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