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Section 3.03 Roadway Assessment District Fees Reimbursement. In the event City adopts a Funding Program or Funding Programs within three (3) years from the Effective Date of this Agreement, and the Funding Program Fees applicable to the Project are less than the Traffic Mitigation Fee, Owner's Traffic Mitigation Fee payment set forth in Section 2 shall be reduced/credited in an amount equal to the difference between Owner's Traffic Mitigation Fee and the Funding Programs Fees. In the event Owner has paid the Traffic Mitigation Fee, and City in the time frame above referred adopts Funding Programs applicable to the Project, City shall refund Owner, subject to receipt of funds from the Funding Programs, the incremental difference between the Traffic Mitigation Fee and the Funding Program Fees. City shall pay Owner such refund within thirty (30) days of City's receipt of any Funding Program Fees, or portion thereof, until such total funds have been collected and paid. No interest shall be due or payable by City to Owner on any amount to be reimbursed by City to Owner. Section 3.04 Timing of Payment of Traffic Mitigation Fee or Citywide or Areawide Traffic Impact Fees. If the Funding Program Fees are greater than Owner's Traffic Mitigation Fee, Owner shall pay the difference, subject to the limitations of Section 3.01, between the Funding Program Fees and the Owner's Traffic Mitigation Fee in accordance with the relevant terms and conditions of the Funding Programs that would apply to other property owners and/or developers subject to such fees. Section 3.05 No Obligation to Pay Funding Program Fees. In the event Owner does not undertake Project and does not obtain any Project Agmt-212 f/sh/shiRC/Council FXS:rg 11/9/98,11/17/98, 1'2/143/98 5