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<br />AGREEMENT <br /> <br />SECTION 1. EFFECTIVE DATE AND TERM <br /> <br />Section 1.01 Effective Date. This Agreement shall become effective the <br /> <br />date upon which this Agreement is executed by Owner and City (the "Effective <br /> <br />Date"). <br /> <br />Section 1.02 Term. The term of this Agreement (the "Term") shall <br /> <br />commence upon the Effective Date and continue for a period of ten (10) years. <br /> <br />SECTION 2. TRAFFIC MITIGATION FEE PAYMENT <br /> <br />Section 2.01 Traffic Mitigation Fee. Owner shall pay City (1) a traffic <br /> <br />mitigation fee in the amount of $220,000 (the "Fixed Fee") calculated, for the <br /> <br />purpose of this Agreement, on a trip generation basis; (2) plus six (6) percent of <br /> <br />the Restriping Costs, and six (6) percent of the Additional Costs (collectively <br /> <br />referred to as the "Traffic Mitigation Fee"). In addition, Owner shall pay on the <br /> <br />second anniversary date of the Effective Date the sum equivalent to the <br /> <br />difference between the interest received by the City on the Fixed Fee and a sum <br /> <br />equivalent to the interest which would have accrued on the principal sum of <br /> <br />$220,000 (the "Principal") for the same two (2) year period at the rate specified <br /> <br />in the Engineering News Record, ENR Cost Index in 20 Cities, San Francisco, <br /> <br />BCI percentage charge (the "ENR Index") for the month of each yearly <br /> <br />anniversary date of the Effective Date if the interest on the principal for each <br /> <br />separate year calculated at the ENR Index is greater than the amount of interest <br /> <br />received by City on the principal. <br /> <br />Agmt-165 <br />f/sh/sh/RC/Council <br />FXS:rg <br />07/01/98; 07/17/98R107/22/98 <br /> <br />6 <br />