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the 2015 Bonds and all Outstanding Parity Bonds. For purposes of <br /> determining the amount of Net Revenues under this paragraph , the <br /> amount of Net Revenues has been increased to reflect an increase <br /> in the rates and charges levied for service from the Sewer Utility <br /> System which has been adopted prior to the date hereof, in an <br /> amount by which the Net Revenues would have been increased if <br /> such increase in charges (based on the highest adopted rate which <br /> will be in effect for any of the next three Fiscal Years) had been in <br /> effect during the whole of the Fiscal Year ending June 30, 2015. <br /> Capitalized terms used herein and not otherwise defined herein have the <br /> meanings given them in the Financing Agreement. <br /> Dated: November 24, 2015 CITY OF REDWOOD CITY <br /> BY: L . ._ d, <br /> Au A 'ey Ramberg <br /> Director of Finance <br /> -2- <br />