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