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<br />EXHIBIT C <br />FORM OF DEVELOPER ADVANCE CERTIFICATE <br /> <br />ThIS Certificate is Issued under that certain ReImbursement Agreement (the "Reimbursement <br />Agreement") between the City of San Marcos, Texas (the "City"), Remvestment Zone No. Two, City of <br />San Marcos, Texas (the "Zone"), and Carma Blanco Vista, Ltd, (the "Developer") effective September <br />, 2006. Terms used in this CertIficate shall have the meaning provided for in the Development <br />Agreement. <br /> <br />The Developer certifies that it has made Developer Advances for Project Costs under the <br />Development Agreement in the amount of $ <br /> <br />By the Developer's executlOn of this CertIficate, the Developer represents that it has fully paid <br />the invoices attached to thIS certificate towards the complehon of the Project. The attached copies of the <br />relevant invoices and other appropnate documentation attached to this Certificate are true and correct <br />copIes of the invOIces that have been fully paId by the Developer. <br /> <br />Also attached to this certificate IS I) the fully completed certificate of the Project engineer <br />describmg the extent to which the Project has been completed; and 2) the fully completed certificate and <br />release of the Project general contractor venfymg the amounts paid thus far under the construction <br />contract for the Project. <br /> <br />By the Zone's Board of Directors' execution of this CertIficate, the Zone indicates its approval of <br />the expenditures set forth in this Certificate, <br /> <br />CARMA BLANCO VISTA, LTD. <br /> <br />BY CARMA TEXAS, INC. (GENERAL <br />PARTNER) <br /> <br />By: <br />Name: <br />Title: <br /> <br />AGREED TO this <br /> <br />day of <br /> <br />REINVESTMENT ZONE NUMBER TWO, <br />CITY OF SAN MARCOS, TEXAS <br /> <br />By: <br />Name: <br />Title: <br />