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03/22/2011 Exhibit C ATTACHMENT 1 herein, provided that a prepayment may be made only for Assessor's Parcels of Developed Property, or for an Assessor's Parcel of Undeveloped Property for which a building permit has been issued after January 1, 2010, and only if there are no delinquent Special Taxes with respect to such Assessor's Parcel at the time of prepayment. An owner of an Assessor's Parcel intending to prepay the Special Tax obligation shall provide the CFD Administrator with written notice of intent to prepay. Within 30 days of receipt of such written notice, the CFD Administrator shall notify such owner of the prepayment amount for such Assessor's Parcel. The CFD Administrator may charge such owner a reasonable fee for providing this service, if there are Outstanding Bonds, prepayment must be made not less than 30 days prior to a date that notice of redemption of CFD No. 2010 -1 Bonds from the proceeds of such prepayment may be given by the Trustee pursuant to the Indenture that is specified in the report of the Special Tax Prepayment Amount (defined below). A prepayment may also be made for an Assessor's Parcel, or portion therefore, deemed to be excess. Public Property and /or Property Owner Association Property, as determined pursuant to Section F herein. The following additional definitions apply to this Section J: "Buildout" means, for CFD No. 2010-1, that all expected building permits for residential dwelling units and /or non - residential development identified in the Development Plan for CFD No. 2010 -1 have been issued (not including the Future Excluded Area), as reasonably determined by the CFD Administrator. "CFD Public Facilities Costs" means either $5,625,000 in 2011 dollars, which shall increase by the Construction Inflation Index on July 1, 2012, and on each July 1 thereafter, or such lower number as (i) shall be determined by the CFD Administrator as sufficient to provide funding for all of the Authorized Facilities, or (ii) shall be determined by Council concurrently with a covenant that it will not issue any more CFD No 2010 -1 Bonds (except refunding bonds) to be supported by the Special Tax levy under this First Amended Rate and Method of Apportionment as described in Section E herein. "Construction Inflation Index" means the annual percentage change in the Engineering News Record Building Cost Index for the City of San Francisco, measured as of the month of December in the calendar year which ends in the previous Fiscal Year In the event this index ceases to be published, the Construction Inflation Index shall be another index as determined by the CFD Administrator that is reasonably comparable to the Engineering News Record Building Cost Index for the City of San Francisco. "Future Facilities Costs" means the CFD Public Facilities Costs minus (i) costs of Authorized Facilities previously paid from the Improvement Fund, (ii) moneys currently on deposit in the Improvement Fund available to pay costs of Authorized Facilities, (iii) moneys currently on deposit in an escrow fund that are expected to be available to finance the costs of Authorized Facilities, and (iv) the amount the CFD Administrator reasonably expects to derive from the reinvestment of these funds. "Improvement Fund" means a fund or account specifically identified in the Indenture to hold funds which are currently available for expenditure to acquire or construct Authorized .Facilities. Convmuntiy Facilities District No. 2010 -1 February 16, 2011 City of Redwood City (One Marina) Page 14 Reso # 15102 MUFF # 506