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(vii) Modifications to rights of holders of the Bonds; <br />(viii) Bond calls; <br />(ix) Defeasances; <br />(x) Release, substitution, or sale of property securing repayment of the Bonds; <br />and <br />(xi) Rating changes. <br />(b) The City shall notify any SID and either each NRMSIR or the MSRB, in a timely <br />manner, of any failure of the City to provide financial information or operating data in accordance <br />with Section 12.02 of this Ordinance by the time required by such section. <br />Section 12.04. Limitations, Disclaimers, and Amendments. <br />(a) The City shall be obligated to observe and perform the covenants specified in this <br />Article for so long as, but only for so long as, the City remains an "obligated person" with respect to <br />the Bonds within the meaning of the Rule, except that the City in any event will give notice required <br />by Section 12.03 of any Bond calls and defeasance that cause the City to cease to be and "obligated <br />person. " <br />(b) The provisions of this Article are for the sole benefit of the Owners and beneficial <br />owners of the Bonds, and nothing in this Article, express or implied, shall give any benefit or any legal <br />or equitable right, remedy, or claim hereunder to any other person. The City undertakes to provide <br />only the financial information, operating data, financial statements, and notices which it has expressly <br />agreed to provide pursuant to this Article and does not hereby undertake to provide any other <br />information that may be relevant or material to a complete presentation of the City's financial results, <br />condition, or prospects or hereby undertake to update any information provided in accordance with <br />this Article or otherwise, except as expressly provided herein. The City does not make any <br />representation or warranty concerning such information or its usefulness to a decision to invest in or <br />sell Bonds at any future date. <br />UNDER NO CIRCUMSTANCES SHALL THE CITY BE LIABLE TO THE OWNER OR <br />BENEFICIAL OWNER OF ANY BOND OR ANY OTHER PERSON, IN CONTRACT OR TORT, <br />FOR DAMAGES RESULTING IN WHOLE OR IN PART FROM ANY BREACH BY THE CITY, <br />WHETHER NEGLIGENT OR WITHOUT FAULT ON ITS PART, OF ANY COVENANT <br />SPECIFIED IN THIS ARTICLE, BUT EVERY RIGHT AND REMEDY OF ANY SUCH <br />PERSON, IN CONTRACT OR TORT, FOR OR ON ACCOUNT OF ANY SUCH BREACH, <br />NOTWITHSTANDING ANY PROVISION OF THIS ORDER TO THE CONTRARY, SHALL BE <br />LIMITED TO AN ACTION FOR MANDAMUS OR SPECIFIC PERFORMANCE. <br />San Marcos GO 2009 Ordinance 33