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EXHIBIT 1 payments undertaken by the Taxing Agency and is relying on the Taxing Agency's assertion that the Payments are properly calculated and lawfully owed tinder the Redevelopment Law and the Dissolution Act. 1. Subject to the terms and conditions hereof, the Parties desire to compromise and settle all claims and terminate all disputes that have been or could have been asserted by and among the Parties relating to the calculation and payment of the Payments, all without admitting liability on behalf of any of the Parties. AGREEMENT NOW, THEREFORE, in consideration of the foregoing recitals, the covenants and agreements contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows: I . Effectiveness of Agreement; Third Party Approvals. This Agreement shall become effective upon (A) execution of this Agreement by the Parties, and (B) approval of this Agreement by resolution of the Oversight Board, and (C) following Oversight Board approval, upon passage of the time periods prescribed by applicable law, either by no review of such Oversight Board action being timely requested by the California Department of Finance ( "DOF" ), or by DOF approval or lack of objection thereto. 2. Payment to Taxing Agency: The Successor Agency hereby agrees to pay to the Taxing Agency and each other affected taxing agencies the respective amounts set forth in Exhibit A (collectively, the "Payments "). The Payments shall be made within thirty (30) days following the Successor Agency's receipt of moneys from the County Auditor - Controller for the applicable six -month fiscal period covered by the first Recognized Obligation Payment Schedule ( "ROPS ") on which the Payments are approved as a line item following the Effective Date hereof. 3. Subordinate Oblation; Distribution of RPTTF. The Parties acknowledge and agree that all Redevelopment Property Tax Trust Fund ( "RPTTF ") moneys attributable to the Former Agency's redevelopment project areas will be distributed by the CAC in accordance with Health & Safety Code Section 34183, The Payments shall be satisfied out of excess RPTTF moneys (`Excess RPTTF ") available after payment of the County administration fee, all pass through payments, all enforceable obligations including bonds and other indebtedness, and the Successor Agency's administrative expenses (collectively, the "Prior Obligations "). To the extent Excess RPTTF is available after payment of all Prior Obligations in a given ROPS period, such Excess RPTTF shall be applied to payment of the Successor Agency Payment Obligations due during the applicable ROPS period. If the Excess RPTTF in a ROPS period is insufficient to enable the Successor Agency to make the Payments due during that ROPS period, the insufficiency shall be paid in future BOPS periods, without interest, as and when sufficient Excess RPTTF moneys are available, A. Subiect to Prior Obligations. The Parties acknowledge and agree that the Payments under this Agreement are junior to all obligations of the Successor Agency with a prior claim on, or pledge of, moneys in the RPTTF, pursuant to Health & Safety Code Section 34183 or other laws, including all other enforceable obligations on each applicable ROPS. P