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M 0 <br /> 4. General Provisions Applicable to the Prepayment of Special Tax <br /> (a) Use of the Special Tax Prepayment Amount <br /> The Special Tax Prepayment Amount shall be applied in the following order of priority: <br /> (i) to be deposited into specific funds established under the Indenture and applied as <br /> specified therein, and (ii) to be remitted to the City and used for any Authorized <br /> Facilities. <br /> (b) Full Prepayment of Special Tax <br /> Upon confirmation of the payment of the current Fiscal Year's entire Special Tax <br /> obligation, the CFD Administrator shall remove the current Fiscal Year's Special Tax <br /> levy for such Assessor's Parcel from the County tax rolls. With respect to any Assessor's <br /> Parcel that is prepaid in accordance with Section J.1, the CFD Administrator shall cause a <br /> suitable notice to be recorded in compliance with the Act, to indicate the prepayment of <br /> the Special Tax and the release of the Special Tax lien on such Assessor's Parcel, and the <br /> obligation of such Assessor's Parcel to pay the Special Tax shall cease. <br /> (c) Partial Prepayment of Special Tax <br /> With respect to any Assessor's Parcel that is partially prepaid, the CFD Administrator <br /> shall (i) distribute or cause to be distributed the funds remitted to it according to Section <br /> J.4.(a) and (ii) indicate in the records of CFD No. 2010 -1 that there has been a partial <br /> prepayment of the Special Tax and that a portion of the Special Tax with respect to such <br /> Assessor's parcel, equal to the outstanding percentage (1.00 — F) of the remaining <br /> Maximum Special Tax, shall continue to be levied on such Assessor's Parcel pursuant to <br /> Section E herein. <br /> (d) Debt Service Coverage <br /> Notwithstanding the foregoing, no prepayment of the Special Tax shall be allowed <br /> unless, at the time of such proposed prepayment, the Special Tax that may be levied on <br /> Taxable Property within CFD No. 2010 -1 in all Fiscal Years (after excluding Public <br /> Property and Property Owner Association Property as set forth in Section F herein), both <br /> prior to and after the proposed prepayment, is at least equal to the sum of (i) 1.10 times <br /> the debt service necessary to support the remaining Outstanding Bonds, and (ii) the <br /> Administrative Expenses as defined in Section A herein. <br /> K. TERM OF SPECIAL TAX <br /> The Special Tax shall be levied for a period not to exceed fifty years commencing with Fiscal <br /> Year 2010 -2011, provided however that the Special Tax will cease to be levied in an earlier <br /> Fiscal Year if the CFD Administrator has determined h all t at a required interest and principal <br /> payments on the CFD No. 2010 -1 Bonds have been paid. <br /> K: \CLIENTS2 \Redwood City \One Marina \RMA \Redwood City CFD No. 2010 -1 (One Marina) - Amended RMA for ROC.docx <br /> Dated: 2/16/2011 10:52 AM <br /> Community Facilities District No. 2010 -1 February 16, 2011 <br /> City of Redwood City (One Marina) Page 18 <br />