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<br />Adv. Paymt x 2,000 = Sq. Ft. of GBFA <br />Agreed Chg. Rt. <br /> <br />$327,500 x 2000 = 50000 s . ft. of GBFA <br />$13,100' , q <br /> <br />Since the total of 475,000 square feet and 50,000 square feet does <br />not exceed 525,000, the second step of the calculation need not be <br />made. <br /> <br />If, on the other hand, Flatirons made the same Advance Payment on the <br />same date, but building permits had been issued which included a <br />Cumulative Total GBFA of 500,000 square feet and the Actual Charge Rate <br />was $14,000, Flatirons would be entitled to construct an additional 48,393 <br />square feet of GBFA upon issuance of the necessary building permits without <br />payment of further Facilities Fees for that square footage. That calculation in <br />this case is as follows: <br /> <br />Adv. Paymt x 2,000 = Sq. Ft. of GBFA <br />Agreed Chg. Rt. <br /> <br /> <br />$327,500 <br />X 2,000 = 50,000 sq. ft. of GBFA <br />$13,100 <br /> <br />Since the total of 500,000 square feet and 50,000 square feet exceeds 525,000, the <br />second step of the calculation must be made. That calculation is as follows: <br /> <br />(525,000 - Cum. Tot. GBFA) <br />x Agreed Chg. Rt. = Amt. of Adv. Paymt. Allocable to Agreed Chg. Rt. <br />2,000 <br /> <br />(525,000-500,000) X$13100=$163 750 <br />2,000 ' , <br /> <br />$163,750 represents the portion of the Advance Payment allocable to the <br />Cumulative GBFA which Flatirons can "purchase" at the Agreed Charge <br />Rate. That sum must then be subtracted from the total Advance Payment, the <br />result divided by the Actual Charge Rate, and the quotient multiplied by 2,000 <br />to determine the GBFA above 525,000 square feet that can be purchased by the <br />remainder of the Advance Payment. That calculation in this case is as <br />follows: <br /> <br />-25- <br /> <br />DV AGR0'3.rxJC <br />August 26, 1996 <br />