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3 [43S35 <br /> Improvements costs ("Net Estimated Traffic Mitigation <br /> Improvements Costs") is $954,750, as shown on gjchilait F. <br /> (b) pevelover's Share of Net Estimated Traffic <br /> Mitigation Imvrovement Costs. A list of the currently <br /> identified projects that will contribute ("Contributing <br /> Projects") to the Traffic Mitigation Improvements Costs is <br /> shown on Exhibit F. (Said list has been compiled by the <br /> City based upon development projects as to which development <br /> agreements, applications or other submittals to the City or <br /> similar evidence of expected development existed as of <br /> October 1, 1997; said list of Contributing Projects shall be <br /> revised from time to time by the City as development <br /> expectations change. ) Based upon the foregoing and subject <br /> to adjustment as hereinbelow provided, Developer's share of <br /> the Net Estimated Traffic Mitigation Improvements Costs <br /> (calculated as a percentage) shall be fifty and one-half <br /> percent (50.5%) ("Developer's Percentage Share") . <br /> Developer's share of the Net Estimated Traffic Mitigation <br /> Improvements Costs (in terms of present dollars) is, <br /> accordingly, $482 , 149 ("Developer's Estimated Required <br /> Payment") . Developer's Percentage Share and Developer's <br /> Estimated Required Payment shall be adjusted as specifically <br /> provided in this Section 3.2. <br /> (c) Developer's Payments. <br /> (i) Payment of Net Estimated Traffic Mitigation <br /> Improvements Costs. Subject to Developer's <br /> responsibility for increased costs (pursuant to <br /> subparagraph (g) below) and the City's responsibility <br /> for reimbursement to Developer (pursuant to <br /> subparagraph (e) below) , Developer (or its successor, <br /> including a major department store within the Shopping <br /> Center ["successor"] ) shall pay to the City either the <br /> Net Estimated Traffic Mitigation Improvements Costs or, <br /> if the actual costs of particular Traffic Mitigation <br /> Improvements have been determined by bid, the Net <br /> Actual Traffic Mitigation Improvements Costs, for the <br /> Traffic Mitigation improvements, when (1) Developer (or <br /> its successor) obtains a building permit for any <br /> portion of the Project as identified on Exhibit F, ancj <br /> (2) the City Engineer reasonably determines that the <br /> LOS at any intersection identified on exhibit D will be <br /> below LOS "D" following completion of the improvements <br /> covered by such building permit. If the circumstance <br /> referred to in clause (2) will not exist following the <br /> completion of such improvements (i.e. , no Traffic <br /> Mitigation Improvements must be completed at the time <br /> of such development) , then Developer (or its successor) <br /> shall pay to the City Developer's Estimated Required <br /> Payment (or allocable portion thereof, as referred to <br /> below) at such time as either (A) the City is obligated <br /> to pay Reimbursement Fees to a Contributing Project as <br /> provided in subparagraph (e) below, or (B) the City <br /> -4- <br /> "Mortgagee" under the Development Agreement Without <br /> limiting the foregoing, Lender hereby specifically requests, pursuant to the terms of said Section 14 3, <br /> Loan No PRU 706110163/NYL 374-0753 <br /> Stonendge Mall <br /> Notice Letter to the City of Pleasanton,CA <br /> 28163403v 2/028227-001530 <br />