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The Prepayment Amount (defined below) shall be calculated as summarized below <br /> (capitalized terms as defined below): <br /> Bond Redemption Amount <br /> plus Redemption Premium <br /> plus Defeasance Amount <br /> plus Administrative Fees and Expenses <br /> Tess Reserve Fund Credit <br /> Tess Capitalized Interest Credit if any) <br /> Total: equals Prepayment Amount <br /> As of the proposed date of prepayment, the Prepayment Amount (defined below) shall be <br /> calculated as follows: <br /> Paragraph No.: <br /> 1. For Assessor's Parcels of Developed Property, compute the Facilities Special Tax <br /> component of the Maximum Annual Special Tax for the Assessor's Parcel to be <br /> prepaid. <br /> 2. Divide the Maximum Annual Special Tax computed pursuant to paragraph 1 by the <br /> sum of the total Expected Special Tax Revenue in Table 3 in Section E., excluding <br /> any Assessor's Parcels for which the Facilities Special Tax has been prepaid. <br /> 3. Multiply the quotient computed pursuant to paragraph 2 by the Outstanding Bonds to <br /> • •compute the amount of Outstanding Bonds to be retired and prepaid (the-"Bond <br /> Redemption Amount"). <br /> 4. Multiply the Bond Redemption Amount computed pursuant to paragraph 3 by the <br /> applicable redemption premium, if any, on the Outstanding Bonds to be redeemed <br /> (the "Redemption Premium "). <br /> 5. Compute the amount needed to pay interest on the Bond Redemption Amount from <br /> the first bond interest and /or principal payment date following the current Fiscal Year <br /> until the earliest redemption date for the Outstanding Bonds. <br /> 6. Confirm that no Special Tax delinquencies apply to such Assessor's Parcel. <br /> 7. Determine the Special Taxes levied on the Assessor's Parcel in the current Fiscal <br /> Year which have not yet been paid. <br /> 8. Compute the amount the CFD Administrator reasonably expects to derive from the <br /> reinvestment of the Prepayment Amount less the Administrative Expenses from the <br /> date of prepayment until the redemption date for the Outstanding Bonds to be <br /> redeemed with the prepayment. <br /> City of San Leandro May 23, 2000 <br /> Connnunity'Facilities• District No.1 Page 10 • <br />