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SOUTH BEND (INDIANA) REDEVELOPMENT AUTHORITY
<br /> SCHEDULE OF AMORTIZATION OF $4,905,000 OF TAXABLE LEASE
<br /> RENTAL ACQ UISITION AND REFUNDING REVENUE BONDS OF 1993
<br /> Principal and interest payable semi-annually, February 1st and August 1st.
<br /> Net effective interest rate 7.2521392
<br /> Dated July 1, 1993.
<br /> Semi-annual
<br />Mon/Yr of Assumed Debt Bond Year
<br />Maturity Principal Rate Interest Service Total
<br />Feb-94 $ 198,067.92 $ 198,067.92
<br />Aug-94 $ 20,000 4.20% 169,772.50 189,772.50 $ 387,840.42
<br />Feb-95 20,000 4.50% 169,352.50 189,352.50
<br />Aug-95 20,000 4.70% 168,902.50 188,902.50 378,255.00
<br />Feb-96 45,000 4.90% 168,432.50 213,432.50
<br />Aug-96 45,000 5.10% 167,330.00 212,330.00 425,762.50
<br />Feb-97 50,000 5.25 % 166,182.50 216,182.50
<br />Aug-97 50,000 5.40% 164,870.00 214,870.00 431,052.50
<br />Feb-98 70,000 5.60% 163,520.00 233,520.00
<br />Aug-98 70,000 5.75 % 161,560.00 231,560.00 465,080.00
<br />Feb-99 85,000 5.90% 159,547.50 244,547.50
<br />Aug-99 90,000 6.00% 157,040.00 247,040.00 491,587.50
<br />Feb-00 95,000 6.10% 154,340.00 249,340.00
<br />Aug-00 100,000 6.20% 151,442.50 251,442.50 500,782.50
<br />Feb-O1 105,000 6.30% 148,342.50 253,342.50
<br />Aug-Ol 110,000 6.40% 145,035.00 255,035.00 508,377.50
<br />Feb-02 115,000 6.50% 141,515.00 256,515.00
<br />Aug-02 120,000 6.60% 137,777.50 257,777.50 514,292.50
<br />Feb-03 125,000 6.70% 133,817.50 258,817.50
<br />Aug-03 130,000 6.70% 129,630.00 259,630.00 518,447.50
<br />Feb-04 135,000 6.85 % 125,275.00 260,275.00
<br />Aug-04 140,000 6.85 % 120,651.25 260,651.25 520,926.25
<br />Feb-OS 145,000 7.00% 115,856.25 260,856.25
<br />Aug-OS 150,000 7.00% 110,781.25 260,781.25 521,637.50
<br />Feb-06 155,000 7.10% 105,531.25 260,531.25
<br />Aug-06 165,000 7.10% 100,028.75 265,028.75 525,560.00
<br />Feb-07 170,000* 7.35% 94,171.25 264,171.25
<br />Aug-07 175,000* 7.35% 87,923.75 262,923.75 527,095.00
<br />Feb-08 180,000* 7.35% 81,492.50 261,492.50
<br />Aug-08 190,000* 7.35% 74,877.50 264,877.50 526,370.00
<br />Feb-09 200,000** 7.40% 67,895.00 267,895.00
<br />Aug-09 205,000** 7.40% 60,495.00 265,495.00 533,390.00
<br />Feb-10 215,000** 7.40% 52,910.00 267,910.00
<br />Aug-10 225,000** 7.40% 44,955.00 269,955.00 537,865.00
<br />Feb-11 235,000** 7.40% 36,630.00 271,630.00
<br />Aug-11 240,000** 7.40% 27,935.00 267,935.00 539,565.00
<br />Feb-12 255,000** 7.40% 19,055.00 274,055.00
<br />Aug-12 260,000** 7.40% 9.620.00 269.620.00 543.675.00
<br />Totals 905 000 $4.492,561.67 9,397,561.67 9,397,561.67
<br />*Represents $715,000 Term Bond due August 1, 2008 subject to mandatory sinking fund
<br />redemption in the above amounts and on the above dates.
<br />**Represents $1,835,000 Term Bond due August 1, 2012 subject to mandatory sinking fund
<br />redemption in the above amounts and on the above dates.
<br />(Subject to the comments in the attached letter
<br />dated July 9, 1993 of H.J. Umbaugh & Associates.)
<br />B-9
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