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A. During the term of the bonds, the amount in the <br />special rese.rve fund shall be available for transfer into the <br />redemption fund in accordance with Section 8808 of the Streets and <br />Highways Code. The amount so advanced shall be reimbursed to the <br />special reserve fund from the proceeds of redemption or sale of the <br />parcel for which payment of delinquent assessment installments was <br />made from the special reserve fund. <br /> <br /> B. If any assessment is prepaid before final maturity <br />of the bonds, the amount of principal which the assessee is required <br />to prepay shall be reduced by an amount which is in the same ratio <br />to the original amount of the special reserve fund as the original <br />amount of the prepaid assessment bears to the total amount of <br />assessments originally levied in Assessment District 1987-1, Koll <br />Center Pleasanton. This reduction in the amount of principal <br />prepaid shall be balanced by a transfer from the special reserve <br />fund to the redemption fund in the same amount. <br /> <br /> C. The amounts deposited in the reserve fund will <br />never exceed 10% of the proceeds of the bond issue. Proceeds of <br />investment of the special reserve fund shall be deposited in the <br />investment earnings fund. <br /> <br /> D. When the amount in the special reserve fund equals <br />or exceeds the amount required to retire the remaining unmatured <br />bonds (whether by advance retirement or otherwise), the amount of <br />the special reserve fund shall be transferred to the redemption <br />fund, and the remaining installments of principal and interest not <br />yet due from assessed property owners shall be cancelled without <br /> <br /> 4 <br /> <br /> <br />