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SENT BY: ' 2-27-92 : 4.54PM ', 7145821832-4 7143705154;# 4 S. The term "Tax Revenues" set forth in Exhibit "D" at Paragraph A1(d) shall be defined as of the Effective Date as follows: "'Tax Revenues' means, for each of the first ten Note Years following the Effective Date of the First Amendment to the Disposition and Development Agreement, thirty-one (311-7c) per cent of all taxes due and paid to the Agency or the City which are derived from the imposition of Uniform Local Sales and Use Tax Law commencing with Section 7200 of the Revenue and Taxation Code of the State of California, as amended, arising from all business or other activities conducted upon the Site which are subject to such Sales and Use Tax Law. For each Note Year before or after the first ten Note Years following the Effective Date of the First Amendment to the Disposition and Development Agreement (the "Full Rate Note Years") 'Tax Revenges' means 509o' of all such sales and use taxes as defined herein due and paid to the Agency or the City." 6. Paragraph A2(c) of Exhibit "D" to the DDA, which provides, in part, that the term of each Original Note shall be fifteen (15) years and that if by the end of each fifteen (15) year term the Tax Revenues are insufficient to fully discharge the amount of interest on and principal of the Original Notes, then any and all remaining unpaid principal and accrued interest shall be forgiven and discharged, is hereby deleted and revoked in its entirety. 7. In the event the Effective Date or the beginning date of any Full Rate �ygtt Yoar QggK& Qa 0 daaY thgr than thq tr5t day Of a NOW 'gar,1bg-rerGMAgc sof Tax Revenues payable to the Redeveloper for such Note Year shall be equitably prorated based upon that portion of the Note Year during which the fifty percent (50%) rate is in effect and that portion of. the Note year for which the thirty-one percent (31%v) rate is in effect. 8. Section 9.1 of the DDA captioned "Locatyon of Competing Price Clubs" is hereby deleted and revoked in its entirety. 9. Notwithstanding anything to the contrary in the DDA the DDA is hereby amended by deleting any reference to a fifteen (15) year time limit on the term of the Original Notes or any new Notes executed in accord with this First Amend ment to the DDA. 10. In the event of any conflict between the terms of the DDA, including the Original Notes or any new Notes executed in accord with the terms of this First Amendment to the DDA, and the terms of this Amendment, then the teras of this Amendment shall control. J H BO6979 3 -