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financing complies with the purposes and provisions of the applicable <br />Indiana statutes governing the issuance of industrial development <br />revenue bonds by the Commission and complies in all things with <br />IC 18- 6 -4.5 -1 through IC 18-6- 4.5 -30; and <br />BE IT FURTHER RESOLVED by the South Bend Economic Development <br />Commission that the proposed financing of the relocation, expansion <br />and remodeling of such facility constitutes such economic development <br />facilities in accordance with the terms of the financing agreements, <br />sometimes referred to as "Indenture of Trust," "Loan Agreement" and <br />the bonds to be issued pursuant thereto in the principal amount of <br />Two Hundred and Twenty -Five Thousand ($225,000.00) Dollars, repayable <br />with interest at the rate of ten (10 %) percent per annum, in accordance <br />with the terms set forth in such Indenture of Trust and Loan Agreement, <br />together with note and real estate mortgage are hereby approved and <br />authorized; and <br />BE IT FURTHER RESOLVED, that the form and terms of the financing <br />agreements pertaining to such bonds, being designated as an Indenture <br />of Trust and Loan Agreement, and the form and terms of such bonds and <br />note and real estate mortgage securing the performance of the terms <br />of such Indenture of Trust and Loan Agreement, and the issuance of such <br />bonds are hereby approved and authcrized and that the Secretary of the <br />Commission be, and he is hereby directed to transmit to the Clerk of <br />the City of South Bend, Indiana, this resolution, together with a copy <br />of the form and terms of the financing agreements, viz, Indenture of <br />Trust, Loan Agreement and the bonds, note and real estate mortgage. <br />THIS RESOLUTION ADOPTED BY THE SOUTH BEND ECONOMIC DEVELOPMENT <br />COMMISSION OF THE CITY OF SOUTH BEND, INDIANA, THIS 20th DAY OF <br />NOVEMBER, 1981, <br />Walter A. Mucha "'�- /Secretary <br />- 2 - <br />