CALIFORNIA STATE WATER RESOURCES CONTROL BOARD (2)

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City of Santa Ana Agreement No.: D2202006 Project No.: 3010038-002C Page 7 of 49 "Recipient" means the City of Santa Ana. In any provision of this Agreement referencing duties undertaken by the Authority on behalf of the Recipient, the term "Recipient" shall also refer to the Authority. "Records Retention End Date" means the last date that the Recipient is obligated to maintain records and is set forth on the Cover Page of this Agreement. "Regional Water Quality Control Board" or "Regional Water Board" means the appropriate Regional Water Quality Control Board. "Reimbursement Resolution" means the Recipient's reimbursement resolution identified and incorporated by reference in this Agreement. "Reserve Fund" means the reserve fund required pursuant to Exhibit B of this Agreement. "Revenues" means, for each Fiscal Year, all gross income and revenue received or receivable by the Recipient from the ownership or operation of the System, determined in accordance with GAAP, including all rates, fees, and charges (including connection fees and charges) as received by the Recipient for the services of the System, and all other income and revenue howsoever derived by the Recipient from the ownership or operation of the System or arising from the System, including all income from the deposit or investment of any money in the Enterprise Fund or any rate stabilization fund of the Recipient or held on the Recipient's behalf, and any refundable deposits made to establish credit, and advances or contributions in aid of construction. "Rule 15c2-12(b)(5)" means Rule 150-12(b)(5) promulgated by the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended, "Senior Obligation" mean's a debt obligation of the Recipient that is senior to this Obligation. There are no Senior Obligations. "SRF" means the Drinking Water State Revolving Fund. "State" means State of California. "State Water Board" means the State Water Resources Control Board. "Subordinate Obligation" means a debt obligation of the Recipient that is subordinate to this Obligation. There are no Subordinate Obligations. "System" means all drinking water collection, transport, treatment, storage, and delivery facilities, including land and easements thereof, owned by the Recipient, including the Project, and all other properties, structures, or works hereafter acquired and constructed by the Recipient and determined to be a part of the System, together with all additions, betterments, extensions, or improvements to such facilities, properties, structures, or works, or any part thereof hereafter acquired and constructed. "System Obligation" means any obligation of the Recipient payable from the Revenues, including but not limited to this Obligation, any Parity Obligation, any Subordinate Obligation, and such additional obligations as may hereafter be issued in accordance with the provisions of such obligations and this Agreement. "Useful Life" means the economically useful life of the Project beginning at Completion of Construction and is set forth in Exhibit A. DWSRF 1OV2022