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8.A. - Page 39 In the event Special Taxes become delinquent on a Taxable Parcel subject to an undivided levy, such Special Taxes shall be deemed delinquent on both the Parcel against which such delinquent Special Taxes are shown on the secured property tax roll, as well 1s on the Parcel or Parcels to which applicable Parl<ing Units have been assigned by the City, the Special Taxes on which have been billed directly by the District, and the District shall pursue such foreclosure remedies as are available to it under the Fiscal Agent Agreement and the Act lgainst both such Parcels. PYepayment Special Taxes. The owner of any Taxable Parcel may prepay the Special Taxes to be levied agauzst such Parcel through the term to maturity of the Bonds and luthorized but unissued District bonds. Special Taxes may not be preplid in part. Optionll prepayment amounts for each Taxable Parcel shall be determined annually for each Fiscal Year at the same time annual Special Taxes are determined as follows. Step 1 The total lmount of unplid Bond principal outstanding at the beginning of each Fiscal Year plus authorized and unissued District bond priilcipal shall be determined, from which amount shall be subtracted any principal coming due in such Fiscal Year, the payment of which was provided for in the collection of the prior Fiscal Year's Annual Tax Revenues. Step 2 The result determined in Step 1 above shall be divided by the Net Taxable Square Feet for such Fiscal Year to arrive at the unpaid outstanding and authorized District bond principal per Commercial Square Foot for such Fisc11 Year. Step 3 For each Taxable Parcel, the unpaid outstanding and authorized District bond principal per Commercial Squlre Foot for such Fiscal Year as determined in Step 2 above shall be multiplied by the total number of Commercial Square Feet allocable to such Taxable Parcel to arrive at the Principal Prepayment Amount allocable to each such Taxable Parcel. In each Fiscal Year, the owner of a Building Parcel may prepay the future Special Tax obligations of such Parcel by paying in cash the sum of i) the amount of any delinquent and unpaid ulstallments of Special Taxes levied against such Parcel, together with any penalties, interest and costs due thereon, ii) the Special Taxes levied against such Plrcel in such Fisc11 Year, iii) the Principal Prepayment Amount allocable to such Taxable Parcel in such Fiscal Year, rounded up to the nearest integral multiple of $5,000, iv) a prepayment premium in an amount equal to the prepayment premium required under the Fiscal Agent Agreement to be paid on the outstanding Bonds to be called on the next permissible call date times the ratio that such Parcel's number of Commercial Square Feet bears to the Net Taxable Square Feet in such Fiscal Year times the unpaid Bond principal outstanding at the beginning of such Fiscal Year, v) a reasonable fee, fixed by the City Manager, for the cost of administering the preplyment and the ldvance redemption of bonds, less vi) a credit for such Taxable Parcel's pro rata share of the Reserve Fund balance (if any), and less vii) any credit due the owner of such Parcel as provided for in Section 10 of the Rate and Method in respect of certain administrative charges related to prior Special Tax levies. Exemptions. Pursuant to Section 53340 of the Act, the Rate and Method exempts Public Parcels from the levy of the Special Tax; except that the Special Tax on a Taxable Parcel that is acquired by a public entity will remain subject to the Special Tax pursuant to the Rate -15-