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L RECL ILLS The racitals above; are an integral part of this AgToement and set forth the intentions of the parties and the premises on which the parties have decided to enter Into this Agrcemont. 2, DEFIN1 "1 ONS For purposes of this Agreement, the following terms shall have the indicated moaning, 2.1 "Dissolution Lawn' is defined in Recital D. 12 "Bond Proceeds" is defined in Recital J and also includes (1) proceeds from tax allocation bonds issued on or before December 31, 2010 and interesl eanaed thereon, (2) rents, sale proceeds and other revenues generated by properties acquired and/or improved with proceeds from tax allocation bonds issued on or beforo December 31, 2010,(3) interest and principal paid on loans aCundod by pr aceeds from tax allocation bonds Issued on or before December 31, 2010, (4) moneys held by the trustee in connection with tho issuance of the 2003A Bonds, and (5) other income or revenues generated from assets acquired or fundod with ,proceeds froin tax allocation bonds issued on or before Decein'acr 31, 2010. 2.3 "Excess Bond Proceeds" moans Bond Proceeds that are not needed to satisfy Enforceable Obligations listed on an approved ROPS. 2,4 "Enforceable (Obligations" wean enforceable obligations, other than Excess Bond Proceeds obligations, as defined under t'he Dissolution Lases. 2.5 "Bond Spending Plan" is defined in Recital K, 3, SUCCESSO1.1 GENCY OBLIGATIONS fho Successor Agency shall have the following obligations tinder this Agraumetrt: 3.1 Current Excess Bond Procceds. The Successor Agency sball transfer to the City, as soon as practicable and no later dffinn January 1, 2017, Excess Bond Proceeds currently held by the Successor Agency in an amount not to exceed (i) $2,515,560.32 (the "Base Amount "), together with any interest accrued thereon and (ii) such nmarmts as are hold by trustee for the 2003A Boads)(the "Trustee Amount "). 12 Future Excess Bond Proceeds. The Successor Agency shall transfer to the City all future Exwss Bond Proceeds held or received by the Successor Agency. Shah. futarre Excess Bond Proceeds shall include, without limitation, (1) ;Bond Proceeds previously obligated to a project or other Pnforceable Obligation that baeoine trnobligated for any reason, and interest eaoaed thereon, (2) Bond Proceeds that become available in the forth of rents, sale proceeds, loan repayments, other inoome, or other revenues the.t are generated by properties or other assets acquired and/or improved with Bond Proceeds and that are not otherwise obligated to a prajoet, program, or other Enforceable Obligation, and (3) any other funds held by the Successor Agency that qualify as Excess Bond Proceeds under this Agreement, The panics intend that payments of future Excess Bond Procoods be auade to the City as soon as possible after such Excess Bond Proceeds become available. 1.lie transfer of future Excess Bond Resolution 2016 -002 Page 8 of 13