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Paying Agent by the Commission, in which event the Commission may appoint a successor Registrar and Paying Agent. The Commission shall notify each registered owner of the 2014 Bonds then outstanding of the removal of the Registrar and Paying Agent. Notices to registered owners of the 2014 Bonds shall be deemed to be given when mailed by first-class mail to the addresses of such registered owners as they appear on the Registration Record. Any predecessor Registrar and Paying Agent shall deliver all the 2014 Bonds, cash and investments related thereto in its possession and the Registration Record to the successor Registrar and Paying Agent. At all times,the same entity shall serve as Registrar and as Paying Agent. SECTION 6. Form of Bonds. The form and tenor of the 2014 Bonds shall be substantially as follows, all blanks to be filled in properly and all necessary additions and deletions to be made prior to delivery thereof: R- UNITED STATES OF AMERICA STATE OF INDIANA COUNTY OF ST. JOSEPH SOUTH BEND REDEVELOPMENT DISTRICT • SPECIAL TAXING DISTRICT REFUNDING BONDS OF 2014 Maturity Interest Original Authentication Date Rate Date Date CUSIP REGISTERED OWNER: PRINCIPAL SUM: Dollars($ ) The City of South Bend, Indiana (the"City"), acting for and on behalf of the South Bend Redevelopment District, for value received, hereby promises to pay to the Registered Owner set forth above, the Principal Sum set forth above on the Maturity Date set forth above (unless this bond is subject to and is called for redemption prior to maturity as hereafter provided), and to pay interest thereon until the Principal Sum shall be fully paid at the Interest Rate per annum specified above from the interest payment date to which interest has been paid next preceding the Authentication Date of this bond unless this bond is authenticated after the fifteen day of the month immediately preceding the interest payment date (the "Record Date") and on or before such interest payment date in which case it shall bear interest from such interest payment date, or unless this bond is authenticated on or before [January/July] 1, 20_ in which case it shall bear interest from the Original Date, which interest is payable semi-annually on January 1 and July 1 of each year, beginning on [January/July] 1, 20_. Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months. The principal of and premium, if any, on this bond are payable at the principal office of (the "Registrar" or "Paying Agent"), in , Indiana. All 6