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such Interest Payment Date; provided however, that payment of interest may be by wire transfer
<br />to an account in the United States of America to any registered owner of Bonds in the aggregate
<br />principal amount of $1,000,000 or more upon written instructions of any such registered owner
<br />filed with the Trustee for that purpose prior to the Record Date preceding the applicable Interest
<br />Payment Date. This Bond is one of a duly authorized issue of bonds of the Agency designated
<br />as "Redevelopment Agency of the City of San Leandro Alameda County -City of San Leandro
<br />Redevelopment Project Tax Allocation Bonds, Series 2008" (the "Bonds"), of an aggregate
<br />principal amount of Dollars ($ ),
<br />all of like tenor and date (except for such variation, if any, as may be required to designate
<br />varying series, numbers, maturities, interest rates, or redemption and other provisions) and all
<br />issued pursuant to the provisions of the Community Redevelopment Law, being Part 1
<br />(commencing with Section 33000) of Division 24 of the Health and Safety Code of the State of
<br />California (the "Law"), and pursuant to an Indenture of Trust, dated as of June 1, 2008, entered
<br />into by and between the Agency and the Trustee (the "Indenture"), providing for the issuance of
<br />the Bonds. The Bonds are being issued in the form of registered Bonds without coupons.
<br />Additional bonds, or other obligations may be issued on a parity with the Bonds, but only subject
<br />to the terms of the Indenture. Reference is hereby made to the Indenture (copies of which are
<br />on file at the office of the Agency) and all indentures supplemental thereto and to the Law for a
<br />description of the terms on which the Bonds are issued, the provisions with regard to the nature
<br />and extent of the Tax Revenues (as that term is defined in the Indenture), and the rights
<br />thereunder of the registered owners of the Bonds and the rights, duties and immunities of the
<br />Trustee and the rights and obligations of the Agency thereunder, to all of the provisions of which
<br />Indenture the Registered Owner of this Bond, by acceptance hereof, assents and agrees.
<br />Capitalized terms not otherwise defined herein shall have the meanings given them in the
<br />Indenture.
<br />The Bonds have been issued by the Agency for the purpose of providing funds to
<br />finance certain redevelopment activities with respect to its Alameda County -City of San
<br />Leandro Redevelopment Project Area (the "Project Area") and to pay certain expenses of the
<br />Agency in issuing the Bonds.
<br />The Bonds are special obligations of the Agency and this Bond and the interest hereon
<br />and on all other Bonds and the interest thereon (to the extent set forth in the Indenture), are
<br />payable from, and are secured by a pledge of, security interest in and lien on the Tax Revenues
<br />derived by the Agency from the Project Area.
<br />There has been created and will be maintained by the Agency, the Special Fund (as
<br />defined in the Indenture) into which Tax Revenues shall be deposited and from which the
<br />Agency shall transfer amounts to the Trustee for payment, when due, of the principal of and the
<br />interest and redemption premium, if any, on the Bonds and any additional Parity Debt as
<br />defined in the Indenture. As and to the extent set forth in the Indenture, all such Tax Revenues
<br />and the moneys in the Special Fund (as such terms are defined in the Indenture) are exclusively
<br />and irrevocably pledged to and constitute a trust fund, in accordance with the terms hereof and
<br />the provisions of the Indenture and the Law, for the security and payment or redemption of,
<br />including any premium upon early redemption, and for the security and payment of interest on,
<br />the Bonds and any additional Parity Debt. In addition, the Bonds shall be additionally secured
<br />at all times by a first and exclusive pledge of, security interest in and lien upon all of the moneys
<br />in the Debt Service Fund, the Interest Account, the Principal Account, the Reserve Account and
<br />the Redemption Account (as such terms are defined in the Indenture). Except for the Tax
<br />Revenues and such moneys, no funds or properties of the Agency shall be pledged to, or
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