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FINANCIAL ADVISORY SERVICES AGREEMENT <br />This Financial Advisory Services Agreement (the "Agreement") is made and entered into by and between <br />the City of San Marcos, Texas ("Issuer") and Specialized Public Finance Inc. ("SPFI") effective as of the date <br />executed by the Issuer as set forth on the signature page hereof. <br />WITNESSETH: <br />WHEREAS, the Issuer will have under consideration from time to time the authorization and issuance of <br />indebtedness in amounts and forms which cannot presently be determined and, in connection with the authorization, <br />sale, issuance and delivery of such indebtedness, Issuer desires to retain an independent financial advisor; and <br />WHEREAS, the Issuer desires to obtain the professional services of SPFI to advise the Issuer regarding the <br />issuance and sale of certain evidences of indebtedness or debt obligations that may be authorized and issued or <br />otherwise created or assumed by the Issuer (hereafter referred to collectively as "Debt") from time to time during the <br />period in which this Agreement shall be effective; and <br />WHEREAS, SPFI is willing to provide its professional services and its facilities as financial advisor in <br />connection with all programs of financing as may be considered and authorized by Issuer during the period in which <br />this Agreement shall be effective. <br />NOW, THEREFORE, the Issuer and SPFI, in consideration of the mutual covenants and agreements herein <br />contained and other good and valuable consideration, do hereby agree as follows: <br />SECTION I <br />DESCRIPTION OF SERVICES <br />Upon the request of the Issuer, SPFI agrees to perform the financial advisory services stated in the <br />following provisions of this Section I; and for having rendered such services, the Issuer agrees to pay to SPFI the <br />compensation as provided in Section VI hereof. <br />1. Financial Planning- Provide financial planning services related to Debt plans and programs. <br />2. Debt Elements. Provide recommendations regarding Debt under consideration, including such elements as <br />timing, structure, security provisions, and such other provisions as may be appropriate. <br />3. Method of Sale. Make a recommendation as to an appropriate method of sale, including but not limited to <br />competitive sale, negotiated sale or private/limited offering. <br />4. Price Fairness. Advise the Issuer as to the fairness of the price offered by the underwriters.