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(i) 25,029 Usable Squaze Feet of space to be used by the Transit District as administrative offices, ticket offices, passenger waiting rooms and other transit related uses or for lease by ~ the Transit District to third parties and an undivided one half ownership interest in a hearing room as described in the Condominium Documents,; (ii) a 66,824 gross square foot transit mall with weather protection elemenEs designed for the loading and unloading of passenger buses operated by the Transit District ("Transit Mall"); and (iii) 40 parking spaces 1.47 "Unit Owner" means the County with respect to the Units comprising the County Facilities, the Transit District with respect to any Units comprising the Transit Facilities, and any Private Party with respect to any Unit privately owned. 1.50 "Usable Square Feet" means the square feet as determined pursuant to standards adopted by the Building Owners and Managers Association, generally equal to the gross measured area, less major vertical penetration, less building common areas, and less floor common areas. SECTION 2. CONDITION PRECEDENT TO PROCEEDING WITH PROJECT; OWNERSHIP OF THE PROJECT 2.1 Condition Precedent to Proceeding with Project. (i) It shall be a condition precedent to the obligations of the County to proceed with the construction of the Project Improvements pursuant to this Agreement that the lowest responsive bid submitted by a responsible bidder, after publicly solicited invitation for sealed bids, providing for the construction of the Public Improvements for a firm, fixed price in accordance with the bid documents would not cause the County's Respective Share of the Project Budget to exceed $24,100,000 (including credit for receipt of funds from the Transit District for the sale of an undivided ownership interest in the Property). {ii) It shall be a condition precedent to the obligations of the Transit District to proceed with the construction of the Project Improvements pursuant to this Agreement that the lowest responsive bid submitted by a responsible bidder, after publicly solicited invitation for sealed bids, providing for the construction of the Public Improvements for a firm, fixed price in accordance with the bid documents would not cause the Transit District's Respective Share of the Project Budget to ses-~e~-exceed $9,860,000 (including expenditure of funds by the Transit District for the purchase of an undivided ownership interest in the Property). (iii) It shall be a condition precedent to the obligations of the Parties to proceed with the construction of the Project improvements pursuant to this Agreement that the County and the Transit District each secure the funds necessary to finance their Respective Share of the Project Costs consistent with the terms of this Agreement, as follows: (1) on or before February l, 1999, the County determines that it will be able to secure financing with annual payments of principal and interest amortized over 25 years in an amount not exceeding $ per yeaz; or (2) on or before February l, 1999, the Transit District determines that it will be able to secure financing in an amount that, when added to other Transit District funds available for such purpose, will be sufficient to fund the Transit District's Respective Share of the Project Costs. Courthouse Square Development Agreement Page - 7