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12/03/2012 Step 2: The sum of unexpended fund balances (including amounts collected in the prior Fiscal Year to be applied to Debt Service in such Fiscal Year) held under the fiscal agent agreement securing outstanding Bonds that is available to pay Debt Service in such Discal Year shall be determined. Step 3: The amount of Debt Service due in such Fiscal Year payable from Annual Tax Revenues collected in the prior Fiscal Year shall be determined. Step 4: The amounts calculated in Steps 1 and 3 above shall be added together and the amount determined in Step 2 above shall be subtracted from such sum to arrive at the Annual Tax Revenues to be collected in such Fiscal Year. Step 5: The Maximum Annual Special Tax Rate (or rates, as the case may be) applicable to each Taxable Parcel shall be multiplied by the taxable commercial square feet corresponding to rate(s). Step 6: if the total of the amounts calculated in Step 5 is than the Annual Costs, all Special Tax rates shall be decreased by equal proportions of the applicable Maximum Annual Special Tax Rates until the Special Tax rates on all Taxable Parcels produces scheduled Annual Tax Revenue equal to the projected Annual Costs. Step 7: An annual Special Tax shall be determined for each Taxable Parcel by multiplying the Special Tax rate(s) identified in Step 6 above times the number of commercial square feet taxable at such Special Tax rate(s) on each such Taxable Parcel. Maxinnim Annual Special Tax Rate. For each Taxabie Parcel, the Maximum Annual Special Tax Rate for Developed Commercial Square Feet is that Maximum Annual Special Tax Rate applicable in the year in which such commercial square footage first becomes subject to taxation. The Maximum Annual Special Tax Rate applicable to particular Developed Commercial Square Feet shall not increase after the year in which it is first so applied. All parcels in the District currently classified as Taxable Parcels received their classification in fiscal year 1999-2000 and the Maximum Annual Special Tax for the Taxable Parcels has been set at 23.2 cents per foot of Developed Commercial Square Feet. See "APPENDIX B—Rate and Method." Prepayment of Annual Special Taxes. The owner of any Taxable Parcel may prepay the Special Taxes to be levied against such Parcel, in whole but not in part. The Prepayment Amounts for a Parcel either (i) before the issuance of the Series 2001A Bonds or (ii) after the issuance of Series 2001A Bonds are calculated based on various factors, all as specified in "APPENTDIX B – Rate and Method – Section 7." Upon prepayment of the Special Tax, the parcel for which the prepayment was made will no longer be security for the Bonds. Oracle Corporation prepaid the Special Taxes on parcels owned or controlled by it prior to the sale of the Series 2001A Bonds and the Oracle Parcels are not Taxable Parcels. No prepayment of Special Taxes has occurred in the District after the sale of the Series 2001A Bonds. See "THE DTSTRICT—Location and Description of the District." County Teeter Plan The County of San Mateo and the other political subdivisions within its boundaries operate under the provisions of Sections 4701 through 4717, inclusive, of the Revenue and Taxation Code of the State of California, commonly referred to as the "Teeter Plan," with -16- 24 RESO. # 15237 MUFF # 505