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or base lending rate ("Prime Rate") (any change in such Prime Rate to be effective on the date such change ~s <br />announced by Chase) plus 3 percent. The Insurer Payment Rate shall be computed on the basis of the actual <br />number of days elapsed over a year of 360 days. In the event that Chase ceases to announce its Prime Rate <br />publicly, Prime Rate shall be the publicly announced prime or base lending rate of such national bank as <br />Ambac Assurance shall specify. Notwithstanding the foregoing, to the extent any payment obligation described <br />in this paragraph would require the City to make a payment to Ambac Assurance other than a payment that <br />the City is otherwise required to make pursuant to the terms of the Obligations, then such payment shall be <br />subject to annual appropriation by the Crty and shall be made only to the extent permitted by law. <br />[Execution Page Follows] <br />San Marcos CTRCO 20078' Ordinance <br />