Resolution No. 3665 (Taxable ED Revenue Bonds, Series 2026) - Signed

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3 3. The pledge of the Pledged TIF Revenues made herein shall be effective as set forth in Indiana Code 5-1-14-4 without the recording of this Resolution other than in the records of the Commission or the filing of any other instrument. Notwithstanding the foregoing, in the event that the Pledged TIF Revenues are in excess of the amount necessary to make scheduled principal and interest payments on the Bonds when due and to pay any outstanding amounts due and owing on the Bonds due to shortfalls in Pledged TIF Revenues in previous years (the “Excess TIF Revenues”), the Commission shall first apply such Excess TIF Revenues to the payment of any portion of the principal or interest due on the Bonds that remains unpaid and secondly shall retain any remaining Excess TIF Revenues received and may use such Excess TIF Revenues for any purpose under the Act as provided in the Pledge Agreement and/or the Indenture. 4. The President and Secretary of the Commission are hereby authorized and directed to enter into a pledge agreement on behalf of the Commission (the “Pledge Agreement”) providing that the Pledged TIF Revenues are pledged as described herein and containing such other terms consistent with this Resolution to evidence the intent of the Commission to secure the Bonds with the Pledged TIF Revenues as described herein. 5. The Commission hereby authorizes and approves the execution by the Commission of one or more taxpayer agreements (collectively, the “Taxpayer Agreements”) with the Developer in connection with the issuance of the Bonds by the City in the event it is determined that such a taxpayer agreement is necessary in connection with the issuance and sale of the Bonds. On behalf of the Commission, each of the President or Vice President of the Commission is authorized to execute and deliver, and the Secretary of the Commission is authorized to attest, one or more Taxpayer Agreements in such form as they may find acceptable, with the advice of counsel and consistent with the terms and provisions of this Resolution and the Development Agreement. Any payments received by the Commission under any such Taxpayer Agreements are hereby pledged to the payment of the Bonds if and to the extent such Bonds are so secured by the Taxpayer Agreements under the Indenture. 6. Any officer of the Commission is hereby authorized to take such further actions and execute on behalf of the Commission such further documents or agreements as any such officer deems necessary or appropriate to effectuate the purposes of this Resolution. 7. This Resolution shall be deemed to take effect immediately upon adoption by the Commission. The provisions of this Resolution shall constitute a contract binding between the Commission and the holder or holders of the Bonds and after the issuance of said Bonds, this Resolution shall not be repealed or amended in any respect which would adversely affect the right of such holder or holders of said Bonds. *******