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Step 1 The total number of Developed Commercial Square Feet and Participating Approved Commercial Square Feet allocable to Taxable Parcels in the CFD as of the Classification Date for such Fiscal Year shall be determined. Step 2 The total amount of unpaid bond principal outstanding at the beginning of each Fiscal Year plus authorized and unissued bond principal shall be determined, from which amount shall be subtracted any principal coming due in such Fiscal Year, the payment of which was provided for in the collection of the prior Fiscal Year's Annual Tax Revenues. Step 3 The unpaid outstanding bond principal and authorized but unissued bond principal determined in step 2 above shall be divided by the total Net Taxable Square Feet for such Fiscal Year as deterr0ined in step 1 above to arrive at the unpaid authorized bond principal per Net Taxable Square Foot for such Fiscal Year. Step 4 For each Taxable Parcel, the unpaid authorized bond principal per Net Taxable Square Foot for such Fiscal Year as determined in step 3 above shall be multiplied by the total number of Net Taxable Square Feet allocable to such Taxable Parcel to arrive at the Principal Prepayment Amount allocable to each such Taxable Parcel. In each Fiscal Year, the owner of a Taxable Parcel may prepay the future Special Tax obligations of such Parcel by paying in cash the sum of i) the amount of any delinquent and unpaid installments of Special Taxes levied against such Parcel, together with any penalties, interest and costs due thereon, ii) the Special Taxes levied against such Parcel in such Fiscal Year, iii) the Pdndpal Prepayment Amount allocable to such Taxable Parcel in such Fiscal Year, iv) a prepayment premium in an amount equal to the prepayment premium required under the fiscal agent agreement to be paid on outstanding bonds to be called on the next permissible call date times the ratio that such Parcel's number of taxable commercial square feet bears to the total taxable commercial square feet in such Fiscal Year times the unpaid bond principal outstanding at the beginning of such Fiscal Year, v) a reasonable fee, fixed by the City, for the cost of administering the prepayment and the advance redemption of bonds, and vi) a credit for such Taxable Parcel's pro rata share of the reserve fund balance (if any) established under the fiscal agent agreement. Section 8. Application of Surplus Tax Revenues Any amounts collected in excess of Annual Costs shall be applied as stipulated in the fiscal agent agreement securing outstanding bonds of the CFD. Section 9. Administrative Changes The City Manager has the authority to make necessary administrative adjustments to the Rate and Method of Apportionment in order to remedy any portions of this Rate and Method of Apportionment that require clarification, provided that no such adjustment shall result in a tax levy on any Taxable Parcel in excess of the applicable Maximum Annual Special Tax Rate for such Taxable Parcel. C-8 13590