Laserfiche WebLink
<br />the necessary building permits. Upon payment of an Advance Payment and until <br />the earlier of the following, the amount of additional GBFA Flatirons is entitled to <br /> <br />construct is determined by dividing the Advance Payment by the Agreed Charge <br /> <br />Rate for the fiscal year in which the Advance Payment is made and multiplying the <br /> <br />quotient by 2,000: <br /> <br />(i) <br /> <br />The total GBFA authorized under subsection (b), under this <br /> <br />subsection (including any GBF A to be authorized upon payment <br /> <br />of an Advance Payment) and under building permits issued <br /> <br />prior to January 1, 2002 is equal to or greater than 525,000 square <br /> <br />feet; or <br /> <br />(ii) <br /> <br />January 1, 2002. <br /> <br /> <br />After the earlier of the foregoing, the amount of additional GBFA that Flatirons is <br /> <br />entitled to construct is determined by dividing the Advance Payment by the Actual <br /> <br />Charge Rate for the fiscal year in which the Advance Payment is made and <br /> <br />multiplying the quotient by 2,000. The following two examples show how this <br /> <br />calculation is to be made: <br /> <br />If Flatirons made an Advance Payment of $327,500 on January 1, <br />1998 and on that date building permits had been issued which <br />included a Cumulative Total GBFA of 475,000 square feet, <br />Flatirons would be entitled to construct an additional 50,000 <br />square feet of GBF A upon issuance of the necessary building <br />permits without payment of further Facilities Fees for that <br />square footage. On that date, the Agreed Charge Rate is $13,100 <br />(see Exh. D), and therefore the equation is as follows: <br /> <br />-24- <br /> <br />DV AGR0'3.rxJC <br />August 26, 1996 <br />