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Neither the City nor the Paying Agent/Registrar shall be required to transfer or exchange any <br />Certificate called for redemption, in whole or m part, within 45 days of the date fixed for redemption; provided, <br />however, such limrtat~on shall not be applicable to an exchange by the Owner of the uncalled balance of a <br />Certificate <br />The City, the Paying Agent/Registrar, and any other person may treat the person in whose name this <br />Certificate is registered as the owner hereof for the purpose of receiving payment as herein provided (except <br />interest shall be paid to the person in whose name this Certificate is registered on the Record Date or Special <br />Record Date, as applicable) and for all other purposes, whether or not this Certificate be overdue, and neither <br />the City nor the Paytng Agent/Registrar shall be affected by notice to the contrary. <br />IT IS HEREBY CERTIFIED AND RECITED that the issuance of this Certificate and the series of <br />which it is a part is duly authorized by law; that all acts, conditions and things required to be done precedent <br />to and in the issuance of the Certificates have been properly done and performed and have happened in regular <br />and due tune, form and manner, as required by law; and that the total indebtedness of the City, including the <br />Certificates, does not exceed any constitutional or statutory lirrutahon. <br />IN WITNESS WHEREOF, this Certificate has been duly executed on behalf of the City, under its <br />official seal, in accordance with law <br />Interim City Clerk, City of San Marcos, Texas Mayor, City of San Marcos, Texas <br />[CITY SEAL] <br />(b) [Form of Certificate of Paying Agent/Registrar] <br />CERTIFICATE OF PAYING AGENT/REGISTRAR <br />This is one of the Certificates referred to in the within mentioned Ordinance. The series of Certificates <br />of which this Certificate is a part was ongmally issued as one Initial Certificate which was approved by the <br />Attorney General of the State of Texas and registered by the Comptroller of Public Accounts of the State of <br />Texas. <br />REGIONS BANK <br />as Paying Agent/Registrar <br />Dated: <br />By' <br />Authorized Signatory <br />San Marcos CTRCO 20078' Ordinance <br />