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3535 <br />thereafter incurs costs in connection with the <br />completion of any Traffic Mitigation Improvements; such <br />payment may be made in installments, as necessary, in <br />order to satisfy the foregoing, and any such accrued <br />payment obligation shall continue as an obligation of <br />Developer (or its successor) to the extent the same <br />remains unpaid at the termination of this Agreement. <br />(Notwithstanding the foregoing, Developer (or its <br />successors) may elect not to defer payment of <br />Developer's Estimated Required Payment as referred in <br />the preceding sentence, but rather may pay same to the <br />City upon issuance of the aforesaid building permit.) <br />The foregoing reference to "allocable portion" shall be <br />understood to refer to that circumstance where <br />Developer (or its successor) completes only a portion <br />of the Project as referred to on EXhibit F; by way of <br />example, if Developer (or its successor) were to <br />construct an additional 100,000 sq. ft. of Floor Area <br />within the Shopping Center, then Developer's allocable <br />portion of its Estimated Required Payment would be <br />17.9% (100,000 sq. ft. divided by the total Project <br />size of 558,000 sq. ft. as shown on Exhibit F) of the <br />total Estimated Required Payment for Developer (i.e., <br />0.179 x $482,149 - approximately $86,305). <br />(ii) Igrease in n Net Estimated Tr_affiMitigation <br />Improvements Casts. Any portion of the Net Estimated <br />Traffic Mitigation Improvements Costs not paid to the <br />City by Developer by January 1, 1999 shall increase by <br />an interest factor equal to the Prime Rate from such <br />date to the date of payment. The term "Prime Rate" <br />shall mean the rate of interest which Wells Fargo Bank, <br />N.A. ("WFB") announces publicly at its main office in <br />San Francisco, California, as its "prime rate" for <br />unsecured commercial loans. If WFB no longer announces <br />a prime rate, the term "Prime Rate" shall mean the <br />"reference rate", "base rate" or other comparable rate <br />which WFB announces in lieu of the prime rate. Changes <br />in the Prime Rate shall be effective as of the date <br />announced by WFB. <br />(d) Liability of Contributing Projects. In addition <br />to Developer's property, other properties will benefit from <br />the Traffic Mitigation Improvements. The boundaries of such <br />benefitted properties are depicted on Exhibit G attached <br />hereto. As of October 1, 1997, the City has identified five <br />"Contributing Projects" which will benefit from completion <br />of the Traffic Mitigation Improvements, as shown on <br />Exhibit F. The City has assigned each Contributing Project <br />(including Developer's) a percentage share of the <br />responsibility for participating in the costs to complete <br />the Traffic Mitigation Improvements. That percentage share <br />of the Traffic Mitigation Improvements Costs of each of the <br />currently identified Contributing Projects and their <br />required payments are also shown on Exhibit F. Each <br />-5- <br />