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(2) First American, concurrent with the conveyance <br />of the Third Party Conveyance Areas, assigned <br />certain rights to the Third Party Conveyance <br />Area [License Map] pursuant to that certain <br />Assignment and Assumption Agreement, dated <br />April. 14, 1998, by and between First American, <br />as assignor, and MMN Development Company, LLC <br />("MMN Development") as assignee (the "First <br />American-MMN Assignment"), relevant provisions <br />of which are set forth in Exhibit E hereto. <br />(3) Within the Existing First American Development <br />Site, First American has constructed <br />approximately 210,000 square feet of building <br />square footage. <br />(4) First American has the right but not the <br />obligation to construct on the Future First <br />American Development Site up to but not <br />exceeding the amount of building square <br />footage remaining out of the total of <br />1,647,000 square feet after subtracting the <br />building square footages described in each of <br />the following three clauses (a), (b), and (c): <br />(a) the building square footage developed on <br />the Third Party Conveyance Area [approximately <br />425,000 square feet]; <br />(b) the building square footage developed on <br />the Existing First American Development Site <br />[approximately 210,000 square feet], and <br />(c) one of the following (i) , (ii) , or (iii) , <br />as applicable: (i) the building square <br />footage developed on, or in the process of <br />being developed on pursuant to actual <br />construction occurring on. the Third Party <br />Conveyance Area [License Map], or (ii) <br />pursuant to final building plans approved by <br />the City the building square footage to be <br />developed on the Third Party Conveyance Area <br />[License Map], or (iii) if neither of the <br />foregoing (i) or (ii) are applicable, the <br />building square footage assigned to the Third <br />Party Conveyance Area [License Map] as set <br />forth in Exhibit E hereto. <br />b. As used herein, First American's existing and future <br />development of the First American Project Site shall be referred to <br />as the "First American Project." First American's development of <br />the 210,000 square feet on the Existing First American Development <br />394/016555-0002/3124650,19 05/26/00 - 7 <br />