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N. Appointment of a successor or additional trustee or the change of name of a trustee, <br /> if material within the meaning of the federal securities laws. <br /> The City shall notify the MSRB, in an electronic format as prescribed by the MSRB, in a <br /> timely manner, of any failure by the City to provide financial information or operating data in <br /> accordance with subsection (a) of this Section by the time required by such subsection. All <br /> documents provided to the MSRB pursuant to this Section shall be accompanied by identifying <br /> information as prescribed by the MSRB. <br /> 12.03. Limitations, Disclaimers, and Amendments. <br /> The City shall be obligated to observe and perform the covenants specified in this Section for so long <br /> as, but only for so long as, the City remains an "obligated person" with respect to the Certificates <br /> within the meaning of the Rule, except that the City in any event will give notice of any deposit <br /> made in accordance with Section 12.02 of this Ordinance that causes the Certificates no longer to <br /> be outstanding. <br /> The provisions of this Section are for the sole benefit of the holders and beneficial owners <br /> of the Certificates,and nothing in this Section,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 <br /> expressly agreed to provide pursuant to this Section and does not hereby undertake to provide any <br /> other information that may be relevant or material to a complete presentation of the City's financial <br /> results, condition, or prospects or hereby undertake to update any information provided in <br /> accordance with this Section or otherwise, except as expressly provided herein. The City does not <br /> make any representation or warranty concerning such information or its usefulness to a decision to <br /> invest in or sell Certificates at any future date. <br /> UNDER NO CIRCUMSTANCES SHALL THE CITY BE LIABLE TO THE HOLDER OR <br /> BENEFICIAL OWNER OF ANY CERTIFICATE OR ANY OTHER PERSON, IN CONTRACT <br /> OR TORT,FOR DAMAGES RESULTING IN WHOLE OR IN PART FROM ANY BREACH BY <br /> THE CITY, WHETHER NEGLIGENT OR WITHOUT FAULT ON ITS PART, OF ANY <br /> COVENANT SPECIFIED IN THIS SECTION, BUT EVERY RIGHT AND REMEDY OF ANY <br /> SUCH PERSON,IN CONTRACT OR TORT,FOR OR ON ACCOUNT OF ANY SUCH BREACH <br /> SHALL BE LIMITED TO AN ACTION FOR MANDAMUS OR SPECIFIC PERFORMANCE. <br /> No default by the City in observing or performing its obligations under this Section shall <br /> comprise a breach of or default under this Ordinance for purposes of any other provision of this <br /> Ordinance. <br /> Should the Rule be amended to obligate the City to make filings with or provide notices to <br /> entities other than the MSRB, the City hereby agrees to undertake such obligation with respect to <br /> the Certificates in accordance with the Rule as amended. <br /> Nothing in this Section is intended or shall act to disclaim, waive, or otherwise limit the <br /> duties of the City under federal and state securities laws. <br /> San Marcos CTRCO 2017:Ordinance 36 <br />