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03/22/2011 Exhibit C ATTACHMENT 1 FIRST AMENDED RATE AND METHOD OF APPORTIONMENT FOR COMMUNITY FACILITIES DISTRICT No 2010 -1 OF THE CITY OF REDWOOD CITY (ONE MARINA) A Special Tax hereinafter defined shall be Levied on all Assessor's Parcels of Taxable Property in Community Facilities District No. 2010 -1 of the City of Redwood City ( "CFD No. 2010-1") and collected in each Fiscal Year, in an amount determined by the City Council of the City of Redwood City, through the application of this First Amended Rate and Method of Apportionment as described below. All of the real property in CFD No. 2010 -1, unless exempted by law or by the provisions hereof, shall be taxed for the purposes, to the extent and in the manner herein provided. A. DEFINITIONS The terms hereinafter set forth have the following meanings: "Acreage" means the land area expressed in acres of an Assessor's Parcel as shown on an Assessor's Parcel Map, or if the land area is not shown on an Assessor's Parcel Map, the land area shown on the applicable final map, parcel map, condominium plan, or other recorded County map or the land area calculated to the reasonable satisfaction of the CFD Administrator using the boundaries set forth on such map or plan. The square footage of an Assessor's Parcel is equal to the Acreage of such parcel multiplied by 43,560. "Act" means the Mello -Roos Community Facilities Act of 1982, being Chapter 2.5, Part 1, Division 2 of Title 5 of the California Government Code. "Acquisition Agreement" means the acquisition /financing agreement by and between the City of Redwood City and R.C. Peninsula Park, LLC for CFD No 2010 -1 providing for the acquisition and construction of Authorized Facilities with the proceeds of CFD No. 2010 -1 Bonds and Special Taxes, as modified, amended and /or supplemented from time to time in accordance with its terms, or any applicable predecessor or successor to or restatement of such agreement. "Administrative Expenses" means the following actual or reasonably estimated costs directly related to the administration of CFD No. 2010 -1, including but not limited to: the costs of computing the Special Taxes and preparing the annual Special Tax collection schedules (whether by the City or designee thereof or both); the costs of collecting the Special Taxes (whether by the County or otherwise); the costs of remitting the Special Taxes to the Trustee; the costs of the Trustee (including its legal counsel) in the discharge of the duties required of it under the Indenture; the costs to the City, CFD No 2010 -1 or any designee thereof of complying with arbitrage rebate requirements; the costs to the City, CFD No. 2010 -1 or any designee thereof of complying with City, CFD No 2010 -1 or obligated persons disclosure requirements of applicable federal and state securities laws and the Act; the costs associated with preparing Special Tax disclosure statements and responding to public inquiries regarding the Special Taxes; the costs of the City, CFD No. 2010 -1 or any designee thereof related.to an appeal of the Community Facilities District No. 2010-1 February 16, 2011 City of Redwood City (One Marina) Page 1 Reso # 15102 MUFF # 506