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Federal Deposit Insurance Corporation and made payable to "The <br />South Bend Redevelopment Authority," to be held as a guarantee of <br />the good faith of the bidder. In the event the bidder to whom said <br />Bonds are awarded shall fail or -refuse to comply with the <br />provisions of the bid and this notice, such check and the proceeds <br />thereof shall become the property of the Authority and shall be <br />taken and considered as liquidated damages of the Authority on <br />account of such failure or refusal. The checks of unsuccessful <br />bidders will be returned immediately following the award of the <br />Bonds. <br />The successful bidder will be required to make payment <br />for the Bonds in Federal Reserve or other immediately available <br />funds and accept delivery of the Bonds within five (5) days after <br />being notified that the Bonds are ready for delivery, at a bank <br />designated by the Authority. Any premium bid and accrued interest <br />must be paid in cash at the time of delivery as a part of the <br />purchase price for the Bonds. The Bonds will be ready for delivery <br />within sixty (60) days after the date on which the award is made, <br />and if not deliverable within that period, the successful bidder <br />will be entitled to rescind ,the sale and the good faith deposit <br />~~ _. <br />will be returned. Any notice of rescission must be in writing. <br />At the request of the Authority, the successful bidder shall. <br />furnish to the Authority, before delivery of the Bonds, a <br />certificate in form satisfactory to the Authority as to the initial <br />public offering price of the Bonds. <br />• <br />-5- <br />\rrranpol\PpI,AIS.ROY\notice.int\fc\June 17, 1992 <br />