Approving Issuance of Bonds of the South Bend Redevelopment District

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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 Date REGISTERED OWNER: PRINCIPAL SUM: Interest Original Authentication Rate Date Date CUSIP 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 payments of interest on this bond shall be paid by check mailed one business day prior to the interest payment date to the Registered Owner as of the Record Date at the address as it appears on the registration books kept by the Registrar or at such other address as is provided to the Paying Agent in writing by the Registered Owner. All payments of principal of and premium, if