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. IRREVOCABLE ESCROW DEPOSIT AGREEMENT <br />This Irrevocable Escrow Deposit Agreement, is dated as <br />of December 1, 1991, by and between the South Bend Redevelopment <br />Authority (the "Authority"), and Norwest Bank Indiana, N.A., South <br />Bend, Indiana, a national banking association organized under the <br />laws of the United States of America, as escrow trustee (the <br />"Escrow Trustee"). <br />RECITAI,B <br />1. Pursuant to Resolution No. 8, adopted by the <br />Authority on June 17, 1988 (the "1988 Resolution"), the Authority <br />has heretofore issued its South Bend Redevelopment Authority <br />Taxable Lease Rental Revenue Bonds (Coveleski Stadium Project) <br />• dated September 1, 1988 (the "1988 Bonds"), in the amount of Five <br />Million Six Hundred Eighty-Five Thousand Dollars ($5,685,000.00), <br />now outstanding in the principal amount of Four Million One Hundred <br />Fifty-Five Thousand Dollars ($4,155,000), maturing semi-annually <br />on March 1 and September 1 in the years 1992 to 1997 inclusive, and <br />subject to redemption prior to maturity at the option of the <br />Authority on the terms and conditions set forth in the 1988 <br />Resolution and by a Trust Agreement incorporated therein, entered <br />into and dated as of June 1, 1988 between the Authority and First <br />Interstate Bank which subsequently became Norwest Bank Indiana, <br />N.A. through acquisition (the "1988 Trust Agreement"). <br />2. Pursuant to Resolution No. adopted by the <br />Authority on November 1, 1991 (the "Refunding Bond Resolution"), <br />the Authority has authorized the issuance and sale of its refunding <br />