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<br />2. <br /> <br />Definitions. <br /> <br />CapitåJ.ized terms used in this Agreement have the meaning given them in <br /> <br />this Agreement or in Exhibit A. <br /> <br />3. <br /> <br />Term. <br /> <br />(a) <br /> <br />Except as provided in subsection (b), Section 16, and Section 20, the <br /> <br />term of this Agreement commences on the Effective Date, and terminates on the <br /> <br />fifteenth anniversary of the Effective Date. <br /> <br />(b) <br /> <br />City may terminate this Agreement: <br /> <br />(i) <br /> <br />On or after the fifth anniversary date of the Effective Date if the <br /> <br />\0 <br />,... <br />;.1-; <br /> <br />construction within the zone ("Zone" or "Zones") on the <br /> <br />~..i. <br /> <br />~N <br /> <br />Property as shown on Exhibit C in which Flatirons first <br /> <br />w <br /> <br />,ij <br /> <br />commences construction has not been completed before that <br /> <br />w <br /> <br />~:O <br /> <br />anniversary date; and <br /> <br />(ii) <br /> <br />On or after the tenth anniversary date of the Effective Date if <br /> <br />Flatirons has not commenced construction in a second Zone <br /> <br />before that anniversary date. <br /> <br />(c) <br /> <br />As used in this Section 3, "commences" and "commenced" mean the <br /> <br />driving of all piles and the pouring of the concrete slab necessary for the foundation <br /> <br />of the first office building to be constructed in a Zone; and "completed" means the <br /> <br />issuance by City of a temporary certificate of occupancy for all office buildings to be <br /> <br />constructed in a Zone. <br /> <br />-9- <br /> <br />DV AGR0'3.rxJC <br />August 26, 1996 <br />