No. 2390 a bond resolution authorizing the issuance of City of South Bend, Indiana, Redevelopment District Tax Increment Revenue Bonds of 2007 (Douglas Road Economic Development Area project)

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ASSIGNMENT For value received, the undersigned hereby sells and transfers unto (Please print or typewrite name and address of transferee) • this bond and all rights hereunder and hereby irrevocably constitutes and appoints attorney, to transfer this bond on the books kept for the registration hereof with full power of substitution in the premises. Date: Signature Guaranteed: NOTICE: Signature(s) must be guaranteed by an eligible guarantor institution participating in a Securities Transfer Association recognized signature guarantee program. NOTICE: The signature to this assignment must correspond with the name of the Registered Owner as it appears on the face of the within bond in every particular, without alteration or enlargement or any change whatsoever. (End of Bond Form) SECTION 4. Application of Revenues. There are hereby established in the Allocation Fund a Tax Increment Revenue Account, into which all Tax Increment received (including any Tax Increment on deposit in the Allocation Fund as of the date of delivery of the Bonds) shall be deposited and held in reserve for payment of debt service on the Bonds pursuant to this Resolution and Indiana Code 36-7-14-39, a Bond Principal and Interest Account and a General Account, each of which the Controller, the Commission and the Department hereby covenant and agree to cause to be kept and maintained. On July 15, 2008, and each January 15 and July 15 thereafter, all monies in the Tax Increment Revenue Account shall be set aside in the following accounts within the Allocation Fund, in the following order of priority: (a) Bond Principal and Interest Account. There shall be set aside within the Allocation Fund and deposited into the Bond Principal and Interest Account from the Tax Increment Revenue Account, to the extent available, an amount of money which, together with any money contained therein, is equal to the aggregate amount of the principal and interest due during that bond year with respect to the Bonds. For this purpose, a "bond year" shall be deemed to be a year from August 2 to and including the following August 1. No deposit need be made into the Bond Principal and Interest BDDBOI 4912282v3 - I5 -