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8.A Page 26 Exhibit C ATTACHMENT 1 4. General Provisions Applicable to the Prepa3�ment of Special Tax I (a) Use of the Special Tax Prepavment Amount The Special Tax Prepayment Amount shali be applied in the following order af priority: ' (i} to be deposited into specific fimds established under the Indenture and applied as specified therein, and (ii) ta be remitted to the City and used for any Authorized Facilities. (b) Fuil Prepavment of Snecial Tax Upon confirmation of the payment of the current Fiscal Year's entire Special Tax obligatian, the CFD Admiriistrator shall remove the current Fisca) Year's Special Tax levy for such Assessor's Parcel from the County tax rol(s. With respect to any Assessor's Parcel that is prepaid in accordance with Section J.1, the CFD Administrator shall cause a suitable notice to be recorded in compliance with the Act, to indicate the prepayment of the Speeial Ta� and the release af the Special 1'ax lien on such Assessor's Farcel, and the obligation of such Assessor's Parcel to pay the Special Tax shall cease. (c) Partial Prepavment of Special Tax With respect to any Assessor's Parcel that is partially prepaid, the CFD Administratar shall (i) distribute or cause to be distributed the funds remitted to it accorciing to Section J.4.(a) and (ii) inciicate in the recards of CFD No. 2010-1 that there has been a partial prepay�ment of the Special Tax and that a pnrtion of the Speciat Tax with respect to such ,�ssessor's parcel, equal to the outstanding percentage (1.00 — F) of the remaininc Maximum Special TaY, shall continue to be fevied on such Assessor's Parce( pursuant to Section E herein. (d) Debt Service Coveraee Natwithstanding the foregoing, no prepayment of the Special Tax shall be allowed unless, at the time of such proposed prepayment, the Special Tax that may be levied on ?axable Property within CFD No. 2010-1 in all Fiscal Years (after excluding Public Property and Property Owner Association Property as set forth in Section F herein), both prior to and after the proposed prepayment, is at least equal to the sutn of (i) 1.10 times the debt service necessary to support the remaining Outstanding Bonds, and (ii) the Administrative Expenses as defined in Section A herein. K. TERM OF SPECIAL TAX The Special Tax shall be levied for a period not to exceed fifty years commencing with Fiscal l�Tear 2010-20I1, pro�jided ho��ever that the Sp4cia! Ta�: wili cease to be levied in an earlier Fiscal Year if the CFD Administrator has determined that all required interest and principal payments on the CFD No. 2010-1 Bonds have been paid. f: `.CL(ENT52lRed�vood CitylOne Marina\RMAIRedwood City CFU No. 2Q10-I (O�ie hlarina} - Amended RMA for ROC.docx Uatee� ZIlGr2(Ji I 10'.�2 Ah7 Cvmmu�Tfty Fucilities District No. 2010-1 FebrunrP 1 G, 2011 Cit�� nf Reclwood City (D�Te It9nrina) Prrge 18