Ord 2022-005/Granting the Consent of the city of San Marcos to the creation of Hays County Municipal Utility District No. 8 including approx 567.663 Acreas vicinity of old Bastrop Hwy. Between Redwood Rd and San Marcos River.

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Section 5.07 Tax Rate. The District's ad valorem tax rate will approximate or exceed the City's ad valorem tax rate. Section 5.08 Notice of Tax Rate and Material Events. The District shall (a) send a copy of each order or other action setting an ad valorem tax rate to the City within thirty (30) days after the District adopts the rate; (b) provide a copy of each annual audit to the City, upon request; and (c) provide copies of any material event notices filed under applicable federal securities laws or regulations to the City within thirty (30) days after filing such notices with the applicable federal agency. ARTICLE VI. ASSIGNMENT AND REMEDIES Section 6.01 Assignment. Each Owner may assign this Agreement with respect to all or part of such Owner's ownership portion of the Property from time to time to a purchaser of all or a portion of the Property. Any assignment must be in writing, set forth the assigned rights and obligations without modification or amendment, and must be executed by the assigning Owner and proposed assignee. The assigning Owner shall provide the City notice of such assignment, including a copy of the assignment. Upon such assignment in whole or in part, the assigning Owner shall be fully released from any and all obligations under this Agreement and shall have no further liability with respect to the part of the Property so assigned, except as to a default that occurred prior to the date of the assignment, provided that the assignee assumes any and all obligations under this Agreement applicable to the part of the Property included in the assignment. A default by a subsequent assignee shall not constitute a default by an Owner under this Agreement. Section 6.02 Default; Remedies. It shall be a default under this Agreement if one of the Parties shall fail to perform any of its material obligations under this Agreement and such failure shall remain uncured following the expiration of thirty (30) days after written notice of such failure. However, in the event the default is of a nature that cannot be reasonably cured within such thirty (30) day period, the defaulting Party shall have a longer period of time as may be reasonably necessary to cure the default in question. If the defaulting Party does not substantially cure such default within the stated period of time, a non -defaulting Party may, in its sole discretion, and without prejudice to any other right under this Agreement, at law, or in equity, seek any relief available at law or in equity, including specific performance, mandamus, and/or injunctive relief; provided, however, that the City shall not be entitled to rescind or otherwise terminate this Agreement. The City hereby waives any sovereign immunity from suit for a default specific to this Agreement. Section 6.03 Cooperation. The City, Owners, and the District shall each execute such further documents or instruments and take such further acts as may be necessary to evidence their agreements hereunder. In the event of any third -party lawsuit or other claim relating to the validity of this Agreement or any actions taken hereunder, Owners and the City agree to cooperate in the defense of such suit or claim, and to use their respective best efforts to resolve the suit or claim without diminution of their respective rights and obligations under this 5 964507_3