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(ii) it will adopt such ordinances and resolutions <br />and authorize the execution and delivery of such <br />instruments (including but not limited to an Indenture <br />of Trust, Loan Agreement, bond, and related instruments) <br />and the taking of such action as may be necessary or <br />advisable for the construction, issuance and sale of <br />such Economic Development Revenue Bonds. <br />4. All costs of the Schafer Gear Works, Inc. Project <br />incurred after the passage of this Inducement Resolution, <br />including reimbursement or prepayment to the Applicant of <br />monies heretofore expended with respect to attorney and bond <br />counsel fees as well as all expenses of the sale of Economic <br />Development Revenue Bonds and the construction and installation <br />of all property constituting a part of such economic development <br />facilities, shall be payable out of the proceeds of any <br />such financing either to the Applicant or to others for <br />such purposes. <br />5. The liability and obligation of the City of South <br />Bend, Indiana, shall be limited solely to the good faith <br />efforts to consummate such Schafer Gear Works, Inc. Project <br />and the issuance of such bonds, and that neither the City <br />of South Bend, Indiana, nor its officers or agents shall <br />incur any personal liability by virtue of the issuance of <br />any such Economic Development Revenue Bonds or the undertaking <br />of such Schafer Gear Works, Inc. Project. <br />This inducement resolution shall be in full force <br />and effect from and after its adoption by the Common Council <br />and approval by the Mayor. <br />PRisENTo % - A4-% 1 <br />NOT. APPROW, <br />AbOPTEO 8 -Q11-91 <br />Member of the Common Council <br />CJ[7"I'S OFFICE <br />F :± !,-19 19 81 <br />Irene Gammon <br />CITY CLERK, SOUTH BEND, IND. <br />