Agmt96 Flatirons Funding - Laserfiche WebLink

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the necessary building permits. Upon payment of an Advance Payment and until the eélrlier of the following, the amount of éldditional GBFA Flatirons is entitled to construct is determined by dividing the Advélnce Payment by the Agreed Char-ge Rate for the fiscal yeélr in which the Advance Payment is mélde and multil'lying the quotient by 2,000: (i) The total GBFA authorized under subsection (b), under this subsection (including any GBF A to be authorized upon payment of an Advance Pélyment) élnd under buildin~ permits issued prior to January 1, 2002 is equal to or greater than 525,000 square , , .. feet; or " " .. (ii) January I, 2002. , - .. " ~~:!~.£ --~, .. " ,. ;~~;::: After- the earlier- of the foregoing, the amount of additional GBFA that Flatirons is ."... ,..,..- ~:~~ .-~".- -. "" entitled to construct is determined by dividing the Advance Payment by the Actual ....".~ Charge Rate for- the fiscal year in which the Advance Payment is made and multiplying the quotient by 2,000. The following two exélffiples show how this céllculation is to be made: If Fléltir-ons made an Advance Payment of $327,500 on J élnuary I, 1998 and on that date building permits had been issued which included a Cumulative Total GBFA of ~75,OOO squa.re feet, FIéltirons would be entitled to construct an éldditional 50,000 square feet of GBFA upon issuance of the necessary buildin~ permits without payment of further Facilities Fees for that squél]le footage. On that date, the Agreed Cha.rge Rate is $13,100 (see Exh. D), and therefore the equation is as follows: -24- DV AGRCP3.DCX: August 26, 1996 , _....... ,>-,'