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AGREEMENT FOR SALE OR PURCHASE OF RENEWABLE ENERGY CREDITS <br /> This Agreement for Sale or Purchase of Renewable Energy Credits (RECs) (the <br /> "Agreement")is made and entered into as of December 6, 2022(the"Effective Date") by and <br /> between The City of San Marcos (hereinafter "San Marcos") and Lower Colorado River <br /> Authority(hereinafter"LCRA") (when used herein"Parties"refers collectively to LCRA and <br /> San Marcos). <br /> WHEREAS, San Marcos is interested in the sale or purchase of RECs to third parties. <br /> WHEREAS, LCRA has relationships with counterparties for the sale and purchase of <br /> RECs. <br /> NOW, THEREFORE, in consideration of the premises, the covenants and <br /> representations contained herein, and other good and valuable consideration, the receipt and <br /> sufficiency of which are hereby acknowledged,the Parties agree as follows. <br /> 1. LCRA's Services . <br /> (a) LCRA will make commercially reasonable efforts to sell RECs on San Marcos' <br /> request. <br /> (b) LCRA will make commercially reasonable efforts to purchase RECs on San <br /> Marcos' request. <br /> (c) LCRA is not an agent of San Marcos and shall not have authority to bind San <br /> Marcos or enter into agreements on behalf of San Marcos. <br /> (d) LCRA in its sole discretion will identify counterparties and negotiate the terms, <br /> conditions and final price of the sale or purchase of RECs to a third party.LCRA will settle the <br /> transactions. <br /> (e) In regards to REC sales, LCRA will apply a credit in the amount of funds <br /> received from the settlement of the RECs transactions against amounts owed by San Marcos <br /> to LCRA pursuant to its Amended and Restated Wholesale Power Agreement. If LCRA uses <br /> a third party to serve as a broker when selling RECs at San Marcos' request,then LCRA will <br /> net any broker fees against the credit. <br /> (f) In regards to REC purchase,LCRA will apply a charge in the amount of funds <br /> owed from the settlement of the RECs transactions by San Marcos to LORA. If LCRA uses a <br /> third party to serve as a broker when purchasing RECs at San Marcos' request,the broker fees <br /> will be included in the charge. <br /> (g) LCRA will transfer purchased RECs to San Marcos after executing any <br /> transaction for the purchase of RECs on San Marcos' behalf. LCRA shall transfer the RECs <br /> to San Marcos via ERCOT's Texas REC Trading Program's website. <br /> 2. San Marcos' Obligations and 'Acknowledgements. <br /> Page 1 of 4 <br />