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r'\ I (' " I v --;" r--1EMI IHAN DUM OF ACI<EEMENT " ----------.------.-- TillS I\L;I{EEt-1I~Ni is eflLen_.:d into by and between Sail t-ldl-l'llS Indll:;Lllid Ill.Jl'Ll/JIIIL'llI Curpur-.dtion (the "CUl-pol-drillll"), dllJ Thermon ~1anufactur1ng Company (the "Colllpdny"), .1 curpoldLion July illcorporated under the laws of tlw St.lte of Texas LJllJ fully qualified to transact busine::is ill the SLdie -of TeXds. i-or Lhe purpose of securing the agl-eelllellr of the CU1-pol'.Jtiun La issue its revenue bonds (the "IJLl/\ds") fur- Lhe ~uq)Ose of finLJncing certain industrial. lO.Jnufi..lctul illg lJl- cUlllll\erci.Jl f.:lcilities (the "Facilities") for t Ill' us e 0 [ L Il e COIn P d II Y , such Fa c i 1 i ties to be located wholly or purtly \;/itl1in tile b()ul\daries of The City of San Marcos, Texas (the "GovernlllenL...il Unit'-). (.J) The obligdtinrl~;of the pLJrties hereunder are contingent ul,..;n obti..lining Pt"il'l tu I he issuance of the Bonds, a ruling from the Interlldl Revenue Service to the effect that interest on tIlL' Bond:; ~Jill be C:!~e'I'flpt from fedel-al income tax under Sectilln l03(b)(6) of the Inl,:rnal R~venue Code of 1954, as amendeJ, if. n tile opi II ion of BOlld Counsel such a ruling is i e qui r e J, d II d lll' , ) 1\ 0 b lei i n i 1\ g S U c hot her r u 1 in g s, a p pro va 1 s . con s en t s, ,: e r I i [ I C d t e s, 0 pin i 0 1\ S 0 f c 0 un s e 1 an Jot her ins t r u _ ~Ients ~_tnJ fh-oceedi ngs .1; IIlL1Y be deell'L,J necessary by the Company or Uon,1 ('uull:,,'l wi I h respect to the Fdcil ities _ the Bonds or allY in:.1 L'lllllelll rl'l.ll Lng tllereto, from such government:dl agencies and enLitie::. .J:; IIlilY pOsse:.s, lll- lIlay hLJve asserted aUlhority or jUL-isdiL Linn OVl:r or inLl:resL ill lIIattecs pertaining to the F.lcilities, i..Ill of which Slldll Ol: in full force anJ effect at llle tilllL oL Lhe i :,SU..lIICe of the Bonds. (1)) SubSldllLLllly aLL of lhe proceeds of the Bonds shall be use d sol e 1 y t 0 f i l\.1 n c e the d c qui sit ion, con s t r li ~ t ion d n J imprOVl:lllel1l of tILl: F'dclliLies. ur a portion thereof, as generally descrioed in Schedule A altached hereto and hereby Illude a part hereof, (c) The Bonds shLJll be in an aggL-egate principal amount of not to exceed Ten ~I,lli()n DolL.ns ($10,000,000), and shall be i. s sue din 0 n t: 0 ,- III< e s e l- i e s, but 0 n 1 y pur sua n t to a resolution or 1, .l tuLiollS of Lhe COt-parae ion I s Board of Directoui which will be iq)!Jl-oveJ LIS to furm by Bund Counsel. Subject to the tt:rIllS llel-eof, tile Corpuratiun agl'ees as follows: (1) 'l'u is,'illl: llle Bun.!s and, if the Comp.1ny and L II ~ C lJ i P 0 l- .J l i () 11 .1 g r e e, 0 L: her e v ide n c e S 0 fin J e b t e d n e S s pruviding Ll:'llIpolary financing of th~ Facilities which will be i s S 1I ~ d a f e u- the d .J t e he 1- eo fan d 1> ere fun d e d by t h l.' BOil d oS pur S u dill tole g is 1 d t ion her e lo for e 0 r h~l"edfll.:r l:lliJCl~d \Jl1ich 1I1dY provide a suitdble methoJ of t.JX exelli!lL: bund fill.Jncillg. The l)onds sh..1l1 be issued i n <in .J g g r e !-~ .J t e p r i n c i pal ...J III,) u 11 t n () t toe x c e e d the the n est i 111.1 t e J co S t 0 f t J w Fa c i 1 i tie s. j II ~ 1 u J i l\ I- ~ the co s t ~ of i::isLI.Jncl:. I