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AGREEMENT REGARDING EXPENDITURE OF EXCESS BOND PROCEEDS This Agreement Regarding Expenditure of Excess Bond Proceeds (this "Agreement') is entered into effective as of January 17, 2017 ("Effective Date") by and between the Successor Agency to the Redevelopment Agency of the City of San Leandro (the "Successor Agency") and the City of San Leandro, a California charter city (the "City"). The Successor Agency and the City are hereinafter collectively referred to as the `Parties." RECITALS A. Pursuant to authority granted under Community Redevelopment Law (California Health and Safety Code Section 33000 et seq.) (the "CRL"), the former Redevelopment Agency of the City of San Leandro ("Redevelopment Agency") had responsibility to implement the three redevelopment plans for the San Leandro Redevelopment Project (collectively, the "Project Area"). B. Pursuant to that certain Indenture of Trust dated as of July 1, 2008 and executed by and between the Redevelopment Agency and U.S. Bank, National Association, as Trustee (the `Indenture"), the Redevelopment Agency issued Tax Allocation Bonds in the original principal amount of $27,530,000 (the `Bonds"). C. Pursuant to Resolution 2012-001, adopted by the City Council of the City of San Leandro (the "City Council") on January 9, 2012, the City Council agreed to serve as the governing board to the Successor Agency commencing upon dissolution of the Redevelopment Agency on February 1, 2012, pursuant to Assembly Bill xl 26 (as further amended by AB 1484 and SB 107, the "Dissolution Law"). D. Pursuant to the Dissolution Law, on October 28, 2015 the Successor Agency was granted a finding of completion from the California State Department of Finance (the "DOF" ). E. Health and Safety Code Section 34191.4(c) of the Dissolution Law provides that once a successor agency has received a finding of completion, the successor agency is authorized to use the proceeds of bonds issued on or before December 31, 2010 for the purposes for which the bonds were sold, and is further authorized to expend bond proceeds in excess of amounts needed to satisfy previously approved enforceable obligations ("Excess Bond Proceeds") in a manner consistent with the original bond covenants; F. Health and Safety Code Section 34191.4(c) further provides that the expenditure of Excess Bond Proceeds must be listed separately on the Recognized Obligation Payment Schedule ("ROPS") (as defined in the Dissolution Law). G. The Parties desire to enter into this Agreement to address the use of Excess Bond Proceeds for the purposes identified herein and consistent with the Bond covenants, and to provide for the transfer of Excess Bond Proceeds to the City to be used for such purposes. H. The Successor Agency currently holds approximately $2,300,000 in available Excess Bond Proceeds that can be used to pay all or a portion of the costs of projects located in the Project Area, as set forth in the redevelopment financing plan.