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U.S. Bank Equipment Finanme, adivision of U.S. Bank National Association <br />13U1OSVV0DhParkway, Suite 1O0 <br />Portland, OR07223 <br />Re Property Schedule No. 1 to Master Tax -Exempt Lease/Purchase Agreement between U.S. Bank Equipment <br />Finance, a division of U.S. Bank National Association and City of San Marcos <br />PLEASE CHECK EITHER: <br />Lessee hereby designates this Property Schedule as a "qualified tax-exempt obligation" as defined in Section <br />265(b)(3)(B) of the Code. Lessee reasonably anticipates issuing tax-exempt obligations (excluding private activity bonds <br />other than qualified 501 (c)(3) bonds and including all tax-exempt obligations of subordinate entities of the Lessee) during the <br />calendar year in which the Commencement Date of this Property Schedule falls, in an amount not exceeding $10,000,000. <br />M <br />xNot applicable. <br />Arbitrage Rebate <br />Eighteen Month Exception <br />Pursuant to Treasury Regulations Section 1148-7(d), the gross proceeds of this Property Schedule will be <br />expended for the governmental purposes for which this Property Schedule was entered into, as follows: at |eeu 15% within <br />six months after the Commencement Date, at least 60% within 12 months after the Commencement Date, and 100% within <br />18 months after the Commencement Date. If Lessee is unable to comply with Section 1.148-7(d) of the Treasury <br />Regulations, Lessee ohe|| compute rebatab|earbitra8e on this Agreement and pay nebatob|earbitrage hothe United States <br />atleast once every five years, and within 60 days after payment of the final Lease Payment due under this Agreement. <br />Lessee: City of San Marcos <br />Name: Charles W. Daniels <br />Title: Interim City Manager <br />*Please be sure to select ONE option above. <br />