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DEFINITIONS <br /> <br /> "Project Building Permit" shall mean a permit issued by the Building Department of <br />the City of Redwood City pursuant to the City of Redwood City Building Code. The permit <br />shall include all supporting structures, exterior walls, rough electrical and rough plumbing for <br />building floors. <br /> <br /> "Project Tenant Improvements Permit" shall mean a permit issued by the City of <br />Redwood City Building Department pursuant to the City of Redwood City Building Code. <br />This permit shall include any improvemem to the interior of the building, other than <br />improvements covered under the Project Building Permit, and shall include interior partitions, <br />finish electrical and plumbing work. <br /> <br /> AGREEMENT <br /> <br />SECTION 1. EFFECTIVE DATE AND TERM <br /> <br /> Section 1.01 Effective Date. This Agreement shall become effective upon the date <br />upon which is the later of (i) the date upon which this Agreement is executed by Owner and <br />City, or (ii) the date upon which Owner receives final approval (including any action <br />necessary by the City Council, including by appeal from the Planning Commission) of <br />Owner's pending application for a Vesting Tentative Parcel Map and Planned Development <br />Permit (the "Effective Date"). <br /> <br /> Section 1.02 Term. The term of this Agreement (the "Term") shall commence upon <br />the Effective Date and continue for a period of five (5) years. All terms and conditions of this <br />Agreement expire upon termination of this Agreement. In the event Owner has not obtained <br />Project Building Permits for each of the buildings within the Project within the Term, then <br />Owner and City shall renegotiate the terms of this Agreement. <br /> <br />SECTION 2. PAYMENT FOR CALMING DEVICE MITIGATION MEASURES <br /> <br /> Section 2.01 Funding of Mitigation Measures. Owner shall pay to the City the sum <br />of Fifty Thousand Dollars and no/100 ($50,000.00) upon issuance of the first Project Tenant <br />Improvement Permit for any of the following buildings: Building "A," Building "B," <br />Building "C," Building "D," or Building "E." Owner's payment of such amount shall fully <br />and completely satisfy its obligation to comply with Mitigation Measures 3-3e and 3-3d(1) in <br />connection with development of the Project. <br /> <br />SECTION 3. IMPLEMENTATION OF MITIGATION MEASURES. <br /> <br /> Section 3.01 Implemention. Except for Owner's obligation as set forth in Section 2 <br />of this Agreement, City shall be responsible for the actual implementation of Mitigation <br /> <br />AGMT-1029 2 <br />10/29/97 <br /> <br /> <br />