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<br />for various portions of the Project, and the rate per square foot of GBF A can be <br /> <br />adjusted at the discretion of District. Therefore, absent an agreement to the contrary, <br /> <br />the timing of payment of the Facilities Fees is beyond the control of City, and the <br /> <br />rate of increase is beyond the control of Flatirons. Therefore, the parties have agreed <br /> <br />that Flatirons will pay Facilities Fees for specific amounts of cumulative square <br /> <br />footage of GBFA by dates certain even if Flatirons has not received building permits <br /> <br />or made Advance Payments (as hereinafter defined) for that cumulative square <br /> <br />footage of GBF A. However, the rate of increase in the Facility Fee paid by Flatirons <br /> <br />is limited by this Agreement until Flatirons has received building permits for the <br /> <br />first 525,000 square feet of GBFA or until January 1, 2002, whichever is earlier. <br /> <br />Q. <br /> <br />City acknowledges that Redwood Shores Properties ('~RSP") has <br /> <br /> <br />assigned to Flatirons an allocation of RSP's non-grant eligible sanitary sewage <br /> <br />treatment capacity at the South Bayside System Authority ("SBSA") treatment plant <br /> <br />sufficient to construct up to 885,000 square feet of GBFA for office space on' the <br /> <br />Property . <br /> <br />AGREEMENT <br /> <br />NOW, THEREFORE, the parties hereto do hereby agree as follows: <br /> <br />1. <br /> <br />Recitals. <br /> <br />The Recitals set forth above are true and correct and are incorporated by <br /> <br />reference into this Agreement. <br /> <br />/ <br /> <br />-8- <br /> <br />DV AGR0'3.rxJC <br />August 26, 1996 <br />