08-25 Authorizing the City to Issue One or More Series of its Taxable Economic Development Tax Increment Revenue Bonds and Approving and Authorizing Other Actions in Respec Thereto in Connection With the J. C. Hart Development Project

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"Bonds"means the City of South Bend, Indiana, Taxable Economic Development Tax Increment Revenue Bonds, Series 2025 (J.C. Hart Development Project) in the aggregate principal amount of not to exceed$ "Business Day" or"business day" means a day on which the office of the Trustee is open for business. "Capitalized Interest Costs" means a portion of the interest on the Bonds accruing from the date of their original delivery through and including 1, 202_, which is a categorical cost of providing for an "economic development project" as defined and set forth in the Act. "Company" means J.C. Hart Company, Inc., an Indiana corporation. or any successor thereto under the Loan Agreement. "Completion Certificate" means the certificate required to be provided by the Company to the Issuer and the Trustee pursuant to Section 4.3 of the Loan Agreement to evidence completion of the Project. "Costs of Issuance" means financial, legal, accounting charges and expenses, and all other fees charges and expenses incurred in connection with the authorization, sale, issuance and delivery of the Bonds, including without limitation, the fees and expenses of the Issuer, Issuer's Counsel, Bond Counsel, Company Counsel, Municipal Advisor to the Issuer and the Trustee. "Development Agreement" means the Economic Development Agreement, dated January 9,2025, by and among the Issuer, the Redevelopment Commission and the Company. "Economic Development Commission" means the South Bend Economic Development Commission. "Event of Default" means those events of default specified in and defined by Section 7.1 hereof. "Government Obligations" means bonds, notes, certificates of indebtedness, treasury bills or other securities constituting direct obligations of, or obligations the timely payment of the principal of and the interest on which are fully and unconditionally guaranteed by, the United States of America or any agency or instrumentally thereof when such obligations are backed by the full faith and credit of the United States of America. "Indenture"means this instrument as originally executed or as it may from time to time be amended or supplemented pursuant to Article IX. "Interest Payment Date" on the Bonds means each February 1 and August, commencing 1, 202_. "Issuer"means the City of South Bend, Indiana,a municipal corporation organized and validly existing under the laws of the State or any successor to its rights and obligations under the Loan Agreement and the Indenture. 5