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(a) Total Traffic Mitigation Fee Payment. In the event Owner obtains Building Pennits for Building One, Building Two, and Building Three, Owner's Traffic Mitigation Fee Payment shall be calculated as the total amount of the Gross Square Footage of Building One, Building Two, and Building Three multiplied by the Traffic Mitigation Fee (the "Total Traffic Mitigation Fee Payment"). Based upon the plans prepared as of the date of this Agreement, it is estimated that the Total Traffic Mitigation Fee Payment will be Five Hundred and Nine Thousand Dollars ($509,000). . (b) Partial Traffic Mitigation Fee Payment In the event Owner notifies City in writing that it does not intend to obtain all of the Project Building Pennits, Owner's Traffic Mitigation Fee Payment shall be calculated to correspond to the reduction in Project building square footage (the "Partial Traffic Mitigation Fee Payment"), as follows: (i) Owner Obtains One Project Building Permit. In the event Owner only obtains one Project Building Pennit to construct only one of the following buildings: Building One, Building Two, or Building Three (the "Constructed Building"), and Owner does not obtain Project Building Pennits for the other two remaining buildings (the "Remaining Buildings"), Owner's Partial Traffic Mitigation Fee Payment shall be calculated as the total amount of the Gross Square Footage for the Constructed Building, multiplied by the Traffic Mitigation Fee. (ii) Owner Obtains Two Or More Building Permits. Upon receipt of a Project Building Pennit to construct Building Two and/or Building Three, Owner's Partial Traffic Mitigation Fee Payment shall be calculated as the total amount of the Gross Square Footage for each building for which a Project Building Pennit is issued, multiplied by the Traffic Mitigation Fee. Section 2.03 Timing of Traffic Mitigation Fee Payment. Owner shall pay the Partial Traffic Mitigation Fee Payment or Total Traffic Mitigation Fee Payment on a prorata basis for each Project building upon issuance of the Project Tenant Improvement Pennits for each of Building One, Building Two, and Building Three. Section 2.04 No Obligation to Pay Traffic Mitigation Fee Payment. In the event Owner does not undertake Project, and notifies City in writing that Owner does not intend to obtain any Project Building Pennits for Building One, Building Two, and Building Three, Owner shall not be obligated to pay any portion of the Traffic Mitigation Fee Payment. SECTION 3. ASSESSMENT DISTRICT, CITYWIDE OR AREAWIDE TRAFFIC IMP ACT FEE PROGRAM OR OTHER FUNDING PROGRAM. Section 3.01. Payment of Corridor Assessment District Fees or Citywide or Areawide Traffic Impact Fees. In the event City adopts Corridor Assessment District Fees or a Citywide or Areawide Traffic Impact Fee Program, within three (3) years of the Effective Date, to fund transportation improvements, Owner shall be required to pay such Corridor Assessment District Fees or Citywide or Areawide Traffic Impact Fees in an we-l70 10 4