Resolution No. 182 Issuance of the South Bend Redevelopment Authority Lease

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Section 1. In order to pay the finance costs of currently refunding the Refunded Bonds, to fund a debt service reserve for the Bonds to the extent that it is determined that a reserve is reasonably required, and to pay costs of issuance of the Bonds, there is hereby authorized and there shall be executed, issued, and delivered by and on behalf of the Authority, pursuant to I.C. 36 -7- 14.5 -19 and I.C. 5 -1 -5, the Bonds in an aggregate principal amount not to exceed Five Million One Hundred Thousand and 00 /100 Dollars ($5,100,000.00). Section 2. The Bonds are hereby authorized to be issued under, pursuant to, and in accordance with the 2008 Trust Agreement, as supplemented by a supplemental indenture to be entered in' conjunction with the issuance of the Bonds (the "Supplemental Trust Agreement" and collectively with the 2008 Trust Agreement, the "Trust Agreement') with a final maturity date of not later than May 1, 2028, and a maximum rate of interest of five percent (5.0 %) per annum (the exact rate to be determined by negotiation). The proceeds of the Bonds shall be delivered to the Trustee and applied by the Trustee in accordance with the Trust Agreement. Section 3. The Bonds are not subject to optional redemption prior to their maturity. Section 4. At the option of the successful bidder or bidders on the Bonds, the Bonds may be aggregated into one (1) or more term bonds payable from mandatory sinking fund redemption payments (the "Term Bonds ") as provided in the Trust Agreement. The Term Bonds shall have a stated maturity or maturities on May 1. Such Term Bonds shall be subject to mandatory sinking fund redemption prior to maturity at a redemption price equal to 100% of the principal amount thereof, plus accrued interest to the redemption date, but without premium, on May 1 in the years and in the principal amounts as shall be set forth in maturity schedule for the Bonds to be determined by negotiation. Section 5. The Bonds shall be issued in accordance with and shall be secured by the Trust Agreement. The Authority hereby authorizes the President, Vice - President and /or the Secretary- Treasurer of the Authority to execute and attest, respectively, the Supplemental Trust Agreement, for and on behalf of the Authority, in such form as approved by the President, Vice - President and /or Secretary- Treasurer, such approval to be conclusively evidenced by such authorized execution and attestation of the Supplemental Trust Agreement. Section 6. The Authority hereby authorizes the President, Vice - President and /or the Secretary- Treasurer, or any other officer of the Authority, to execute and attest, respectively, an addendum to the Lease, for and on behalf of the Authority, in such form as approved by the President, Vice - President and /or Secretary- Treasurer of the Authority, such approval to be conclusively evidenced by such authorized execution and attestation of Addendum to Lease. Section 7. The Authority hereby authorizes the President, Vice - President and /or the Secretary- Treasurer of the Authority to execute and attest, respectively, an escrow agreement (the "Escrow Agreement ") with U.S. Bank National Association, as escrow trustee, for and on behalf of the Authority, in such form as approved by the President, Vice - President -2- DMS US 51727278v1