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the date upon which this Amendment is executed by Owner and City (the <br />"Effective Date"). <br /> <br /> Section '1.02. Term. The term of this Amendment (the "Term") shall <br />commence upon the Effective Date and continue for a period of five (5) years <br />from the effective date of the Agreement. All terms and conditions of this <br />Amendment shall expire upon termination of the Agreement. <br /> <br /> SECTION 2. TRAFFIC MITIGATION FEE PAYMENT <br /> <br /> Section 2.01. Traffic Mitigation Fee. The traffic mitigation fee agreed <br />upon by City and Owner in the Agreement is calculated on a Gross Square Foot <br />basis in the amount of Two and 13/100 Dollars ($2.13) per Gross Square Foot of <br />the Project that is actually constructed (the "Traffic Mitigation Fee"). The total <br />amount of the Traffic Mitigation Fee for the Project was projected to be One <br /> <br />Million Dollars ($1,000,000) upon completion of construction of the Project. <br /> Section 2.02. Calculation of Traffic Mitigation Fee Payment. <br /> <br />Owner agrees to pay City an additional traffic mitigation fee, calculated on a <br />Gross Square Foot basis in the amount of Three Dollars ($3.00) per Gross <br />Square Foot for the Addition that is actually constructed (the "Additional Traffic <br />Mitigation Fee"). The total amount of the Additional Traffic Mitigation Fee for the <br />10/27/98 <br /> <br />Agmt-177 3 <br />f~sh~sh\RC\Council <br />FXS:rg <br />08/10/g8 <br /> <br /> <br />