Approving Issuance of Bonds of the South Bend Redevelopment District

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interest thereon at the rate specified in the Credit Facility and/or the related Credit Facility Agreement. (vii) The repayment of the draw amount, related expenses and accrued interest (the "Credit Facility Costs ") shall be paid from the funds that would have been set aside above to replenish the Reserve Fund. (viii) Except as otherwise provided in the Credit Facility Agreement, repayment of the Credit Facility Costs shall commence in the first month following each draw, in an amount equal to no less than one twelfth (1/12) of the aggregate Credit Facility Costs related to such draw ( "Monthly Installments "). Each Monthly Installment shall be deposited into the Reserve Fund, and then payments shall be made from the Reserve Fund to pay Credit Facility Costs. If and to the extent cash has been deposited to the Reserve Fund (other than Monthly Installments to pay Credit Facility Costs), all such cash (or permitted investments) shall be used prior to any drawing under the Credit Facility therein, and repayment of any Credit Facility Costs shall be made prior to replenishment of any such cash amounts. If, in addition to the Credit Facility in the Reserve Fund, any other reserve account substitute instrument ( "Additional Credit Facility ") is provided, drawings under the Credit Facility and any such Additional Credit Facility, and repayment of Credit Facility Costs and reimbursement of amounts due under the Additional Credit Facility, shall be made on a pro -rata basis (calculated by reference to the maximum amounts available thereunder) after applying all available cash therein and prior to replenishment of any such cash draws, respectively. (e) Investment of Funds. All money available hereunder for the payment of debt service on bonds shall be held in trust for the benefit of the holders of the bonds and shall be applied, used and withdrawn in accordance with this Section 8. The proceeds of the funds and accounts described below shall be deposited with a legally qualified depository or depositories for funds of the Commission as now provided by law and shall be segregated and kept separate and apart from all other funds of the District and the Commission and may be invested in accordance with applicable provisions of Indiana law. SECTION 9. Reduction of Special Tax Levy and Pledge of Certain Other Revenues. The amount of the levy under Ind. Code § 36- 7 -14 -27 each year of the Special Tax applicable to making payments on the 2014 Bonds as set forth in the budget of the Commission formulated pursuant to Ind. Code § 36- 7 -14 -28 shall be reduced, as provided in Ind. Code § 36- 7- 14 -27, by revenues of or available to the Commission to the extent such revenues have been set aside and designated by the Commission for such purpose in the account of the Bond Fund hereby created and designated as the "Revenues Account." The Commission hereby covenants to levy the Special Tax each year payments are due with respect to the 2014 Bonds to the extent the revenues of or available to the Commission, and set aside and designated by the Commission as described herein, are not sufficient to timely pay the principal of and interest on the 2014 Bonds. 14