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ORDINANCE NO. 710-AN <br />AN ORDINANCE AUTHORIZING THE EXECUTION AND DELIVERY <br />OF A SUPPLEMENTAL LOAN AGREEMENT AND A SUPPLEMENTAL <br />INDENTURE OF TRUST WITH REGARD TO THE CITY OF SOUTH <br />BEND, INDIANA, $2,500,000 ECONOMIC DEVELOPMENT <br />REVENUE BONDS, SERIES A (MMOB, LTD. PROJECT); <br />APPROVING THE CONVEYANCE OF THE PROJECT FINANCED <br />OUT OF THE PROCEEDS OF THE SALE OF SAID BONDS TO <br />MEMORIAL MEDICAL PLAZA, LTD.; APPROVING THE <br />ASSIGNMENT OF THE ORIGINAL LOAN AGREEMENT, SERIES A <br />NOTE AND MORTGAGE BY MMOB, LTD. TO MEMORIAL MEDICAL <br />PLAZA, LTD., AND RELATED MATTERS. <br />STATEMENT OF PURPOSE OF INTENT <br />The City of South Bend, Indiana (the "Issuer ") is a <br />municipal corporation and political subdivision of the State <br />of Indiana and by virtue of I.C. 36 -7 -12 (formerly I.C. 18- 6 -4.5), <br />as amended and supplemented (the "Act "), is authorized and <br />empowered to adopt this ordinance (the "Supplemental Bond <br />Ordinance ") and to carry out its provisions. <br />Pursuant to that certain Indenture of Trust dated as of <br />June 1, 1978 (the "Original Indenture ") between the Issuer and <br />The National Bank and Trust Company of South Bend, as Trustee <br />(the "Trustee "), the Issuer has issued $2,500,000 in aggregate <br />principal amount of its Economic Development Revenue Bonds, <br />Series A (MMOB, Ltd. Project) (the "Series A Bonds "). <br />The proceeds of the sale of the Series A Bonds were lent <br />to MMOB, Ltd. (the "Partnership ") pursuant to that certain Loan <br />Agreement dated as of June 1, 1978 (the "Original Loan Agreement ") <br />between the Issuer and the Partnership for the purpose of <br />financing the acquisition and construction of certain economic <br />development facilities (the "Project "), and to evidence the <br />Partnership's obligation to repay the loan the Partnership <br />executed and delivered to the Trustee on behalf of the Issuer <br />that certain Series A Note (the "Series A Note "). <br />The partners of the Partnership and Memorial Medical Plaza, <br />Ltd., a limited partnership created and organized under the laws <br />of the State of Indiana (the "Successor Parthership") have <br />