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<br />A'ITACHMENT C <br /> <br />PLEDGE OF SECURITIES <br />AND <br />SECURITY AGREEMENT <br /> <br />STATE OF TEXAS <br />COUNTY OF HAYS <br /> <br />THIS PLEDGE OF SECURITIES AND SECURITY AGREEMENT dated as the 28 t\!ay <br />of M::Irr h , 2000 from _l:La..:r:..w..e..s t Ra..n k T e ~ ~l1an\in~. association (the "Bank") to the <br />CITY OF SAN MARCOS, TEXAS, a Municipal Corporation (the "City"). <br /> <br />WITNESSETH: <br /> <br />WHEREAS, the Bank has entered into a Depository Agreement with the City, dated the <br />2.8..t..lPayof M~rrh ,2000, (the "Agreement"), a copy of which is attached hereto as Exhibit <br />"A", the terms and conditions of which are hereby incorporated herein by reference for all <br />purposes, which Agreement provides for the making of deposits with the Bank by the City and, <br />in connection with the Agreement and to comply therewith, and with the provisions of Chapter <br />2257, Texas Government Code, as amended, and Chapter 105 of The Texas Local <br />Government Code, as amended, the Bank is entering into this Pledge of Securities and <br />Security Agreement; and <br /> <br />WHEREAS, the Federal Res erve Ba1\~s been approved by the Bank and the City <br />as Custodian bank (the "Custodian") for purposes of receiving and holding the Collateral, as <br />described in paragraph 7(j) hereof, for the use and benefit of the City. <br /> <br />NOW, THEREFORE, in accordance with the terms of the Agreement, the Bank hereby <br />pledges and agrees to deposit with the Custodian securities eligible for pledging pursuantto <br />Chapter 105 of The Texas Local Government Code, to secure payment ofthe Indebtedness <br />as hereinafter defined. Such securities are described in detail on Exhibit "B" which is <br />attached hereto and fully incorporated by reference, as the same may be amended from time <br />to time as provided herein. The security interest shall include a lien on all proceeds, <br />accessions and substitutions of and for such securities. <br /> <br />The Bank and the City further agree as follows: <br /> <br />1. a. This Pledge of Securities and Security Agreement is made by the Bank to provide <br />for and to secure ratably the payment of the Indebtedness described below <br />