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APPLICATION TO THE FEDERAL RESERVE BANK OF DALLAS FOR THE HOLDING OF SECURITIES IN JOINT
<br /> SAFEKEEPING
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<br /> WHEREAS, the undersigned Depository has been duly and legally designated, and has done all things and performed all acts necessary to qualify as the public
<br />depository of the funds of the undersigned Depositor: and
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<br /> WHEREAS, to secure the funds deposited with it. the Depository has, in accordance with law, pledged with the Depositor the following securities:
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<br /> DESCRIPTION PAR VALUE
<br /> U.S. Treasury Notes 9.125%due 2-15.92 CusiP 912827XD9 $ 700.000
<br /> U.S. Treasury Notes 7. 875% due 8-15-92Cusip 912827XV9 600,000
<br /> U.S. Treasury NOtes 8.250% due 9-30-93 Cusip 912827YA4 1.250.000
<br /> FNMA 8.450% due 7.12.93 Cusip 313586F79 500,000
<br /> U.S. Treasury NOtes 13,125% due 5.15-94 CusiP 912827QU9 1. 000,000
<br /> not suffi, n' g4, 050~000
<br /> lin the abOve space give complete description of securities offered for joint safekeeping, If this space is . c~e L, col~t~rme ~e§&i]~o5 on reverse sloe
<br />hereof) and
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<br /> WHEREAS, ether and additional securities may be pledged by the Depository with the Depositor at some future time; and
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<br /> WHEREAS, other and additional securities may be pledged by the Depository w th the Depositor at some future time; and
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<br /> WHEREAS, both the DepOsitor and Depository desire and hereby request that the Federal Reserve Bank of Dallas accept the securities above described, or
<br />any hereafter tendered, to be held by it or converted to book entry securities for the jeint .~ccount of the Depositor and Depository in accordance with I he provisions
<br />of Bulletin 7 of the Federal Reserve Bank of Dallas.
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<br /> NOW, THEREFORE, in consideration of' the premises, and as an inducement to t he Federal Reserve Bank of Dallas to hold in jmnt safekeeping he above
<br />described securities er any other additional or substituted securities which may hereafter be tendered to it, i¢ is agreed by and between the Depositor and
<br />Depository for the benefit of themselves and of the Federal Reserve Bank of Dallas sheuld it agree to act in the capac ty requested, as follows:
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<br /> L The agreement of the Federal Reserve Bank of Dallas to act under this application in the capacity requested shall be evidenced by the issuance of its Joint
<br />Safekeeping Receipt, for definitive securities or Advice of Transaction for book entry securities, and it is understood and agreed that such receipt or advice shall be
<br />subject to the terms and conditions hereinafter set out.
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<br /> 2. The Federal Reserve Bank of Dallas shall act only as a halloo. It shall give the securities hereinabove described, or any taken in substitution therefor vr in
<br />addition thereto, the same care that it gives to its own property of tike kind, but otherwise it shall be liable only for its own oegligence.
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<br /> 3. The Federal Reserve Bank of Dallas need not maintain any form of insurance for ~ he account of the Depositor and/or Depository on the securities placed
<br />with it under this agreement. The Depositor and Depository sba I carry for their own account such insurance as they deem necessary or desirable.
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<br /> 4. SUbstitutiOns may be made for any of the above described securities, or any additional securities which may be tendered or accepted, or for securities which
<br />have been previously substituted under the terms of this paragraph, upon the reques~ ut the Depository, subjec~ te the approval of the Depositor. Such substituted or
<br />additional securities shall be subject to the terms and conditions of this agreement und Bulletin 7.
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<br /> 5. The securities above described, or any additional securities which may be teudered and accepted, or taken in substitution therefor shall be surrendered
<br />upon the request of t he Depository, subject to the approval of the Depositor.
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<br /> 6. The Federal Reserve Bank of Dallas shall in no manner be responsible ior the genuineness, negotiability, acceptability, or eligibility uf the securities
<br />deliVered to it under this application. Its only responsibility is to hold or surrender or convert co book entr~ such securities as may be delivered to it.~ in accordance
<br />with this agreement.
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<br /> 7. The Federal Reserve Bank of Dallas is authorized to clip the maturing interest coupons on t he definitive securities which it holds under this agreement ~,nd
<br />deliver them or credit their preceeds under advice to the reserve account of the Depository unless other instructions are issued in writing by the Depositor. interest
<br />payments on book entry securities will be credited under advice to the reserve account of the Depositery on the interest due date unless other instructions are issued
<br />in writing by the Depositor.
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<br /> $. The Federal Reserve Bank of Dallas is authorized toact upon instruction givep by an authorized Person of the Depository whose signature is on file with the
<br />Federal Reserve Bank. The signature ef the Depositor is that affixed to Joint Safekeeping Signature Card iSEC~210t on file with the Federal Reserve Bank, ~nd ehe
<br />said Federal Reserve Bank is aethorized to ~tct upon instruction or approval given by such authorized person Whenever such instruction or approval is uecessary
<br />under this agreement~ If there should be a successor to anyone authorized to act for the Deposi~or or Depository named herein befere the fall delivery of ~11 securities
<br />covered by any Joint Safekeeping Receipt and/or Advice of Transaction issued upon this application, iecluding substitutions, it shall be ~ he duty ol said Deposituror
<br />Depository to certify the name and signature of such successor or successors to the Federal Reserve Bank of Dallas, and i~herea£ter said Bank shall be ~uthorized
<br />act upon instructions from such person ~o the same extent as under instructions ef the persons named herein.
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<br /> 9. The terms and conditions enumerated herein shall supplement and be in addition to those set forth in Bulletin 7 ~ the Federal Reserve Bank of Dallas, and
<br />the parties hereto expressly a~Tee to act in accordance with the terms and conditions of said Bulletin 7.
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<br /> 10. The Governing Body referred to in this instrument is .._ C ltv Of Sa n Ma rcos
<br />and said bedy, by proper resolution spread upon its minutes, fully authorize~i the execution of this agreement by the Depositor.
<br /> IN WITNESS WHEREOF, this agreement is executed ~n Triplicate, a cupy being intended for the Depositor; the Depository, and Ihe Federal Reserve Bank
<br />Dallas, on this the 2 9 t:h day of January , ~9, 91.
<br />
<br /> & Trust Company
<br />
<br /> .~nt
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<br /> This is to certify that the abOve and foregoing application was duly considered by the Governing Body named in the npplication at a meeting properly held on
<br />the 2 8~h ~ day of i t~'anuary ,19 9 '[ , a quorum being present, and ~,hat said Governing Body duly authorized and ordered
<br />the application to be executed and Complied with~ all of Which, together with a copy of this a~lication, fully appears in the minutes of said meeting.
<br /> City~f San Marcus
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<br />(SEAL)
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<br />SEC~20X (Rev, 6-84)
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