Res 1997-016 - Laserfiche WebLink

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. h q ß¡tI . . .. instruments of assignment and 1ransfer and such other agreements and instruments as may be necessary, convenient, or reasonably required by the City, for such sale, assignment and 1ransfer of such share of capital stock or any part thereof or interest therein, and to deliver the proceeds of such sale payable to the Corporation directly to the undersigned. (b) Hold Harmless Agreement. Said attorney in fact is hereby given and granted full - - ~o, ! power and authority to indemnify and hold harmless, on behalf of the Corporation, any third party who accepts and acts under this Power of Attorney, and said attorney in fact is hereby further authorized to 1ransact 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 the Corporation. 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 receive~ 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. Corporation acknowledges that its attorney in fact, Ruth Ann Hoch, is also the owner of shares of Elim common corporate stock and that in the same transaction for the conveyance and transfer of Corporation's interests in Elim to the City and/or its designee(s) herein \ - authorized, said attorney in fact may convey here interests in Elim for a price per share in the amount of $8,500.00 without compromise to Corporation's interests. 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 Marcos, 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 2