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<br />1. Traffic Mitigation Improvements. <br />a. Proposed Improvements. Traffic <br />Mitigation Improvements have been identified by City to maintain <br />adequate levels of service for traffic circulation in and around <br />the Stoneridge Mall area of North Pleasanton as development <br />occurs on certain properties which presently are undeveloped. <br />The Traffic Mitigation Improvements are listed on Exhibit B <br />attached hereto. <br />b. Estimated Traffic Mitigation Improvements <br />Costs. As shown on Exhibit B, the estimated costs of <br />constructing the Traffic Mitigation Improvements ("Estimated <br />Traffic Mitigation Improvements Costs"), based on present <br />construction costs, is One Million Sixty-Five Thousand Dollars <br />($1,065,000.00). <br />c. Existing Funding' Agreements. Funding <br />agreements ("Existing Funding Agreements") have been entered into <br />between City and other developers. A list of the Existing <br />Funding Agreements is set forth in Exhibit C attached. The funds <br />to be received by City under the Existing Funding Agreements <br />("Existing Funding Agreements Required Contributions") are to be <br />applied to the Traffic Mitigation Improvements Costs. City, and <br />not Developer, shall be responsible for collecting the Existing <br />Funding Agreements Required Contributions. <br />d. Net Estimated Traffic Mitigation <br />Improvements Costs. After deducting the Existing Funding <br />Agreements Required Contributions from the Estimated Traffic <br />Mitigation Improvements Costs, the remaining Traffic Mitigation <br />Improvements Costs.("Net Estimated Traffic Mitigation <br />Improvements Costs") is Seven Hundred Fifty-Two Thousand Eight <br />Hundred Twenty Dollars ($752,820.00). <br />2. Developer's Share of Net Estimated Traffic <br />Mitigation Improvement Casts. <br />a. Developer's Percentage Share; Developer's <br />Estimated Required Payment. Developer's share of the Net <br />Estimated Traffic Mitigation Improvements Costs (calculated as a <br />percentage) shall be forty-seven percent (47$) ("Developer's <br />Percentage Share"). Developer's share of the Net Estimated <br />Traffic Mitigation Improvements Costs (in terms of present <br />dollars) is Three Hundred Fifty-Seven Thousand Eighty-One Dollars <br />($357,081.00) ("Developer's Estimated Required Payment"). <br />b. Adjustment of Developer's Percentage <br />Share and Developer's Estimated Required Payment. Developer's <br />Percentage Share and Developer's Estimated Required. Payment shall <br />only be adjusted as specifically provided in this Agreement. <br />G:\P\CJ6000.4150/02Aug90a 2 <br />