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ARTICLE VII. <br /> DEFAULTS AND REMEDIES <br /> Events of Default. Each of the following events is hereby declared an "event of default," that is <br /> to say, if <br /> (a) payment of any amount payable on the Bonds shall not be made when the same is <br /> due and payable; or <br /> (b) any event of default as defined in Section 6.1 of the Loan Agreement shall occur <br /> and be continuing; or <br /> (c) any event of default shall occur under the Taxpayer Agreement or the Development <br /> Agreement and be continuing; or <br /> (d) the Issuer shall default in the due and punctual performance of any other of the <br /> covenants, conditions, agreements and provisions contained in the Bonds or in this Indenture or <br /> any agreement supplemental hereof on the part of the Issuer to be performed, and such default <br /> shall continue for thirty (30) days after written notice specifying such default and requiring the <br /> same to be remedied shall have been given to the Issuer and the Company by the Trustee, which <br /> may give such notice in its discretion and shall give such notice at the written request of the holders <br /> of all of the Bonds then outstanding hereunder;or <br /> (e) the Issuer shall fail to apply collected TIF Revenues as required by Article IV of <br /> this Indenture. <br /> Acceleration. Upon the happening of any event of default specified in clause (a), <br /> (b), (c), or (d) of Section 7.1 and the continuance of the same for the period, if any, specified in <br /> that Section, the Trustee, by notice in writing delivered to the Issuer and the Company, at the <br /> written direction of the Requisite Bondholders shall declare the entire unpaid principal amount of <br /> the Bonds then outstanding, and the interest accrued thereon, to be immediately due and payable. <br /> The Issuer's obligation to pay TIF Revenues or IDD Revenues shall not be subject to acceleration. <br /> Remedies: Rights of Bondholders. <br /> (a) If an event of default occurs,with the consent of Requisite Bondholders,the <br /> Trustee may pursue any available remedy by suit at law or in equity to <br /> enforce the payment of the principal of,premium, if any,and interest on the <br /> Bonds then outstanding,to enforce any obligations of the Issuer hereunder, <br /> and of the Company under the Loan Agreement and the Taxpayer <br /> Agreement. <br /> (b) Upon the occurrence of an event of default, if directed to do so by the <br /> Requisite Bondholders and if indemnified as provided in Section 8.1 hereof, <br /> the Trustee shall be obliged to exercise such one or more of the rights and <br /> powers conferred by this Article as the Trustee, being advised by counsel, <br /> shall deem most expedient in the interests of the Bondholders. <br /> Filed in Clerk's Office <br /> 27 JAN 2 1 2026 <br /> Bianca Tirado <br /> City Clerk, South Lund, IN <br />