Authorizing Issurance $6,000,000 Economic Development First Mortgage Revenue Bonds - South Bend Forge Inc

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Trustee shall have been made therefor, or waiver of such notice satisfactory in form to the Trustee shall have been filed with the Trustee; and (c) Bonds in lieu of which others have been authenticated (or payment, when due, of which is made without replacement) under Section 2.05 of the Indenture. "Paying Agent" means, as to the Project Bonds, the Trustee and, as to Additional Bonds, any bank or trust company designated as such by or pursuant to the applicable Bond Legislation, and their successors designated pursuant to the Indenture. "Person" means a natural person, firm, association, corporation or a public body. "Pledged Receipts" means (a) the Loan Payments, (b) subject to the provisions of Sections 3.04 and 8.02 of the Indenture with respect to the Trustee holding moneys for the benefit of the holders of particular Bonds, all other moneys received by the Issuer, or the Trustee for the account of the Issuer, in respect of repayment of the Loan, (c) unexpended moneys in the Construction Fund and (d) the income and profit from the investment of the Loan Payments and such other moneys. "Project" means, collectively, (a) the real estate at the time comprising the "Project Site ", as defined in the Agreement and (b) the real, personal, or real and personal property at the time comprising the "Project Facilities" as defined in the Agreement. "Project Bonds" means the Economic Development First Mortgage Revenue Bonds authorized in Section 5 hereof. "Project Purpose" means constructing, equipping and improving real and personal property comprising a manufacturing facility to be used as a hot forging press facility such related or subsequent uses as are permitted by the Agreement. "Registered Bonds" means Bonds without coupons registered as to both principal and interest.