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NOW, TMERE FORE, the parties heroto do mutually agree as follows: RECITALS The recitals above art tux Integral part of this Agreement and set forth the intentions of the parties trod the promises on which tiro parties have decided to ontor into this Agreement. 2. DEFINi'1TONS For purposes of this Agreement, the following terms shall have the indicated meaning, 11 "Dissolution Law" is defined in Recital D, 2.2 "Bond Proceeds" is defined in Recital J and also includes (1) proceeds from the 201 JA Fronds and interest earned thereon, (2) rents, sale proceeds and other revenues generated by properties acquired and/or improved with proceeds from the 2011 A Bonds, (3) interest and priancipal paid on loans funded by proceeds from the 2011 A Bonds, (4) moneys hold by the trustee in connection with the issuance of the 2011A Bonds, and (5) other hacome or revenues generated from assets acquired or tttnded with proceeds firm the 2011 A Bonds. 2.3 "Excess Bond Proceeds" means Bond Proceeds that are not needed to satisfy Enforceable Obligations listed on an approved BOPS and which are available pursuant to Health & Safety Code Section 34191 A(c)(2). 2.4 "TiAbrccable Obligations" mean enforceable obligations, other than Excess Bond Proceeds obligations, as defined under the Dissolution Law, 2.5 "Bond Spending Plan" is defined in Recital R, 3. SUCCESSOR AGENCY OBLIGATIONS The Successor Agency shall have the following obligations under this Agreement; 3.1 Current xxcoss Bond Proceeds. The Successor Agency shall transfer to the City, as soon as practicable and no later than January 1, 2017, Excess Bond, Proceeds currently hold by the Successor Agency ht an amount not to exceed (i) $260,695, together with any additional amounts as may be authorized pursuant to Health &, Safety Code Section 34191.4(c)(2) (which amount, as so determined, constitutes the "Base Arnource ), and any . interest accrued thereon, together with (11) such amounts as ato hold by the trustee for the 2011 A Bonds which represent any portion of the Base Amount (the "Trustee Amounf') 3.2 Futuro Excess Bond Proceeds, The Successor Agency shall transfer to the City ail flaturo Lrxcoss Bond Proceeds hold or received by the Successor Agency. Such future Excess Bond Proceeds shall include, without limitation, (1) Bond Proceeds previously obligated to a project or other I3nforoeable Obligation that become unobligated for any reason, and interest earned theroon, (2) Bond Proceeds that become available in the roan of rents, sale proceeds, loan repayments, other imonxc, or other revenues that are generated by properties or other assets acquired and/or improved with Bonet Proceeds and iliac are not otherwise obligated to a project, program, or other.Woacoabl.e Obligation, and (3) any other funds held by the Successor Agency that qualify as Excess Bond Prooecda under tlus Agroomcait. Resolution 2016 -003 Page 9 of 14