Ord 2019-003/authorizing the issuance of the City of San Marcos Special Assessment Revenue Bonds, Series 2018 (Trace Public Improvement District); approving aand authorizing an Indenture of Trust, a Bond Purchase Agreement, an Offering Memorandum, a

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ARTICLE X MODIFICATION OR AMENDMENT OF THIS INDENTURE ...................... 59 Section 10.1. Amendments Permitted..................................................................................... 59 Section 10.2. Owners' Meetings............................................................................................. 60 Section 10.3. Procedure for Amendment with Written Consent of Owners ........................... 60 Section 10.4. Procedure for Amendment Not Requiring Owner Consent .............................. 60 Section 10.5. Effect of Supplemental Indenture..................................................................... 62 Section 10.6. Endorsement or Replacement of Bonds Issued After Amendments ................. 62 Section 10.7. Amendatory Endorsement of Bonds................................................................. 62 Section 10.8. Waiver of Default............................................................................................. 62 Section 10.9. Execution of Supplemental Indenture............................................................... 62 ARTICLE XI DEFAULT AND REMEDIES ............................... 63 Section 11.1. Events of Default.............................................................................................. 63 Section 11.2. Representations as to Pledged Revenues.......................................................... Immediate Remedies for Default...................................................................... 63 Section 11.3. 68 Restriction on Owner's Action.......................................................................... 64 Section 11.4. Section 13.1. Application of Revenues and Other Moneys After Default .............................. 65 Section 11.5. Other Obligations or Other Liens; Additional Bonds ....................................... Effect of Waiver................................................................................................ 66 Section 11.6. 71 Evidence of Ownership of Bonds..................................................................... 66 Section 11.7. 71 No Acceleration................................................................................................ 67 Section 11.8. Section 14.2. Mailing of Notice.............................................................................................. 67 Section 11.9. Bonds Deemed Paid.......................................................................................... Exclusion of Bonds........................................................................................... 67 ARTICLE XII GENERAL COVENANTS AND REPRESENTATIONS ................................ 68 Section 12.1. Representations as to Pledged Revenues.......................................................... 68 Section12.2. General.............................................................................................................. 68 ARTICLE XIII SPECIAL COVENANTS.................................................................................. 68 Section 13.1. Further Assurances; Due Performance............................................................. 68 Section 13.2. Other Obligations or Other Liens; Additional Bonds ....................................... 69 Section 13.3. Books of Record............................................................................................... 71 ARTICLE XIV PAYMENT AND CANCELLATION OF THE BONDS AND SATISFACTION OFTHE INDENTURE................................................................................................................. 71 Section 14.1. Trust Irrevocable............................................................................................... 71 Section 14.2. Satisfaction of Indenture................................................................................... 71 Section 14.3. Bonds Deemed Paid.......................................................................................... 71 ARTICLE XV MISCELLANEOUS........................................................................................... 72 Section 15.1. Benefits of Indenture Limited to Parties........................................................... 72 Section 15.2. Successor is Deemed Included in All References to Predecessor .................... 72 Section 15.3. Execution of Documents and Proof of Ownership by Owners ......................... 73 Section 15.4. No Waiver of Personal Liability....................................................................... 73 Section 15.5. Notices to and Demands on City and Trustee ................................................... 73 Section 15.6. Partial Invalidity................................................................................................ 74 Section 15.7. Applicable Laws............................................................................................... 74 Section 15.8. Payment on Business Day................................................................................. 74 Section 15.9. Counterparts...................................................................................................... 74 LM