Authorizing $2,500,000 Economic Development Revenue Bonds MMOB LTD Project

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The holders of not less than 66 2/370 of principal amount outstanding of the Series A Bonds have approved in writing the Supplemental Loan Agreement and Supplemental Indenture. It is necessary that the Issuer approve the Assignment. NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AS FOLLOWS: Section 1. Approval of the Conveyance and Assignment. Notwithstanding any provisions in Sections 5.1 and 7.5 of the Original Loan Agreement to the contrary, the Common Council hereby approves, authorizes and ratifies the conveyance of the Project by the Partnership to the Successor Partnership. The Common Council further approves, authorizes and ratifies the Assignment, by which the partners of the Partnership assigned, and the Successor Partnership assumed all of the Partnership's obligations and liabilities under the Original Loan Documents. Section 2. Supplemental Loan Agreement. In order to supplement and amend the Original Loan Agreement, to provide for the assumption by the Successor Partnership of the obligations and liabilities of the Partnership under the Original Loan Agreement and the Series A Note, to provide for the conveyance of the Project, notwithstanding any provision in Section 5.1 and 7.5 of the Original Loan Agreement to the contrary, and to provide for the payment by the Successor Partnership of an amount sufficient to pay the principal of, and premium, if any, and interest on the Series A Bonds, the Mayor and City Clerk shall execute, acknowledge and deliver in the name and on behalf of the Issuer a Supplemental Loan Agreement in substantially the form submitted to this Common Council, which Supplemental Loan Agreement is hereby approved in all respects. Section 3. Supplemental Indenture. In order to supplement and amend the Original Indenture, in order that it may reflect - 3 -