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<br />Owner's address as it appears on the registration books maintained by the Trustee as of the
<br />Record Date for which such Interest Payment Date occurs; provided however, that payment of
<br />interest may be by wire transfer to an account in the United States of America to any registered
<br />owner of Bonds in the aggregate principal amount of $1,000,000 or more upon written
<br />instructions of any such registered owner filed with the Trustee for that purpose prior to the
<br />Record Date preceding the applicable Interest Payment Date.
<br />This Bond is one of a duly authorized issue of bonds of the Successor Agency
<br />designated as "Successor Agency to the Redevelopment Agency of the City of San Leandro,
<br />2014 Subordinate Tax Allocation RefundingBonds(Redevelopment Projects)" (the "Bonds"), of
<br />an aggregate principal amount of _____________Dollars ($________), all of like tenor and
<br />date (except for such variation, if any, as may be required to designate varying series, numbers,
<br />maturities, interest rates, redemption and other provisions) and all issued pursuant to the
<br />provisions of Article 11 (commencing with Section 53580) of Chapter 3 of Part 1 of Division 2 of
<br />Title 5 of the Government Code of the State of California (the “Refunding Law”) and pursuant to
<br />an Indenture of Trust, dated as of _________ 1, 2014, entered into by and between the
<br />Successor Agency and the Trustee (the "Indenture"), authorizing the issuance of the Bonds.
<br />Additional bonds, or other obligations maybe 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 Successor Agency) and all indentures supplemental thereto and to the
<br />Law (asdefined in the Indenture) and the Refunding Lawfor a description of the terms on which
<br />the Bonds are issued, the provisions with regard to the nature and extent of the Tax Revenues
<br />(as that term is defined in the Indenture), and the rights thereunder of the registered owners of
<br />the Bonds and the rights, duties and immunities of the Trustee and the rights and obligations of
<br />the Successor Agency thereunder, to all of the provisions of which Indenture the Registered
<br />Owner of this Bond, by acceptance hereof, assents and agrees.
<br />The Bonds have been issued by the Successor Agency for the purpose of providing
<br />funds to refund itsPrior Bonds(as defined in the Indenture) and to pay certain expenses of the
<br />Successor Agency in issuing the Bonds.
<br />There has been created under the Law the Redevelopment Obligation Retirement Fund
<br />(as defined in the Indenture) into which Tax Revenues shall be deposited and from which the
<br />Successor Agency shall transfer amounts to the Trustee for payment, when due, of the principal
<br />of and the interest and redemption premium, if any, on the Bonds. As and to the extent set forth
<br />in the Indenture, all such Tax Revenues are exclusively and irrevocably pledged to and
<br />constitute a trust fund, in accordance with the terms hereof and the provisions of the Indenture
<br />and the Law, for the security and payment or redemption of, including any premium upon early
<br />redemption, and for the security and payment of interest on, the Bonds. In addition, the Bonds
<br />shall be additionally secured at all times by a first and exclusive pledge of, security interest in
<br />and lien upon all of the moneys in the Redevelopment Obligation Retirement Fund, the Debt
<br />Service Fund, the Interest Account, the Principal Account, the Sinking Account, the Reserve
<br />Account and the Redemption Account (as such terms are defined in the Indenture). Except for
<br />the Tax Revenues and such moneys, no funds or properties of the Successor Agency shall be
<br />pledged to, or otherwise liable for, the payment of principal of or interest or redemption
<br />premium, if any, on the Bonds.
<br />The Bonds maturing on or before September1, 20__,are not subject to optional
<br />redemptionprior to maturity. The Bonds maturing on and after September1, 20_,are subjectto
<br />redemption, at the option of the Successor Agency on any date on or after September1, 20__,
<br />as a whole or in part,by such maturities as shall be determined by the Successor Agency,and
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