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