Issue Economic Development Revenue Bonds Synthetic Diamond Technology Inc

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economic development facilities as more particularly set out in the Trust Indenture and Loan and Security Agreement incorpo- rated herein by reference, which bonds will be payable as to principal, premium, if any, and interest from the note payments made by Synthetic Diamond Technology, Inc. under the Loan and Security Agreement and Note or as otherwise provided therein and in the above described Trust Indenture. The bonds shall be issued in registered form, may be issued in denominations of $5,000 or a multiple thereof, and shall be redeemed as provided in Article V of the Trust Indenture. Payments of principal and interest are payable in lawful money of the United States of America at the principal office of the Trustee or its successor in trust or by check or draft mailed or delivered to the registered owner as provided in the Trust Indenture. The bonds shall never constitute a general obligation of, an indebtedness of, or a charge against the general credit of the City of South Bend, nor are the bonds payable in any manner from revenues raised by taxation. Section 6. The Mayor and Clerk are authorized and directed to sell such bonds to the purchasers thereof at a rate of interest on the bonds not to exceed 11.00% and at a price not less than96 % of the principal amount thereof. Section 7. The Mayor and Clerk are authorized and directed to execute, attest, affix or imprint by any means the City seal to the documents constituting the Financing Agreement and the Official Statement approved herein on behalf of the City of South Bend and any other document which may be necessary or - 4 -