Res 1997-016 - Laserfiche WebLink

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- . . t t?ßK . of such share of capital stock or any part thereof or interest therein, and to deliver the proceeds of such sale payable to me directly at my aforesaid residential address. (b) Hold Harmless Agreement. Said attorney in fact is hereby given and granted full power and authority to indemnify and hold hannless, on my behalf, any $ird party who accepts and acts under this Power of Attorney, and said attorney in fact is hereby further authorized to transact with such third person to the extent of the authorities granted in this Power of Attorney in the same manner and to the same extent as the third party could transact with me. No person or entity dealing with said attorney in fact shall be required to look beyond the . . powers herein granted, or to the exercise thereof, or the application of any funds which may be paid to or received by said attorney in fact upon the strength hereof, and shall be entitled to rely upon this instrument and the powers and authority herein granted. . (c) Acknowledgment. I acknowledge that my attorney in fact, Ruth Ann Hoch, is also the O\vner of shares of Elim common corporate stock and that in the same transaction for the conveyance and transfer of my interests in Elim to the City and/or its designee(s) herein authorized, said attorney in fact may convey her interests in Elim for a price per share in the amount of$8,500.00 without compromise to my int~rests. l - 2. Effective Date; Revocation. This Power of Attorney shall become effective immediately upon the execution hereof and may be revoked only by written notice of revocation to the above named attorney in fact and to the City of San NIarcos, Texas, 630 East Hopkins Street, San Marcos, Texas 78666. Attention: City Attorney, such notice and revocation to be accomplished by mailing same by postage prepaid United States mail, certified mail, return receipt requested, and to be effective upon receipt thereof by both said attorney in fact and said City. 2