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93103418 <br /> into account possible inaccuracies in the original cost estimates <br /> to complete the Traffic Mitigation Improvements. City shall <br /> complete the Traffic Mitigation Improvements from time to time as <br /> and when the same shall be required, as a consequence of <br /> additional development in the Stoneridge Shopping Center area, in <br /> order to avoid a deterioration of the level of traffic service <br /> (LOS) at any intersection identified on Exhibit D below LOS "D". <br /> Developer or its successors shall pay to City, in installments, <br /> Developer's share of the costs of the Traffic Mitigation <br /> Improvements; each such installment shall be calculated by <br /> multiplying the Developer Contribution by a fraction, the <br /> numerator of which is the Floor Area the subject of the relevant <br /> building permit and the denominator of which is 356,000. Each <br /> such installment payment shall be made at the later of <br /> (i) issuance of the subject building permit or (ii) incurrence by <br /> City of the costs to complete the relevant Traffic Mitigation <br /> Improvements. The maximum Developer Contribution shall not <br /> exceed the lesser of the aforementioned maximum amount or <br /> Developer's share of City's actual cost to complete the Traffic <br /> Mitigation Improvements. Notwithstanding the foregoing, <br /> Developer's contribution percentage, and the maximum Developer <br /> Contribution obligation referred to above, shall be reduced in <br /> proportion to the burden assumed by any additional development <br /> project(s) which the City in good faith determines should be a <br /> Contributing Project within the Stoneridge Shopping Center area <br /> in respect of a fair allocation of the costs of completing the <br /> Traffic Mitigation Improvements. Under no circumstances shall <br /> Developer be responsible for paying or advancing any portion of <br /> the costs of the Traffic Mitigation Improvements beyond the <br /> Developer Contribution, except as provided in Section 3.2(b) . <br /> (b) Reference is made to that certain public <br /> document dated August 20, 1990 entitled "Reimbursement Agreement <br /> for Stoneridge Corporate Plaza II" by and between the City and <br /> Crocker Properties Inc. ("Crocker Agreement") whereby Crocker <br /> Properties Inc. ("Crocker") agrees to advance, subject to partial <br /> reimbursement and certain maximum limitations, the total costs of <br /> completing the Traffic Mitigation Improvements. If, despite <br /> City's best efforts, Crocker fails to advance the funds for <br /> Traffic Mitigation Improvements when, as a result of the Project, <br /> LOS at any intersection identified on Exhibit D which will fall <br /> below LOS "D" (such advance by Crocker to be in the amount of <br /> such costs in excess of Developer's share thereof and other <br /> funds, if any, received by. the City from Contributing Projects) , <br /> then Developer will advance the funds necessary to mitigate such <br /> intersections, subject to the following conditions: <br /> (i) Developer shall be reimbursed, from payments to be required <br /> by the City from Contributing Projects, on the same terms and <br /> conditions afforded to Crocker under the Crocker Agreement, <br /> including Paragraphs 7 and 8 thereof; and (ii) in no event shall <br /> Developer's aggregate obligation so to advance funds exceed a <br /> total amount (including Developer's Contribution) equal to the <br /> sum of (A) $752,820 plus an accrual factor thereon at the Wells <br /> Fargo Bank Prime Rate from time to time in effect, commencing <br /> -6- <br />