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�. Within one year from the date of this Agreement, <br />Santa Ana shall pay to the JPA the First Phase Fashion Square TSIP <br />Fee (as defined in the Participation Agreement) to permit Orange <br />to implement mitigation measures located within Orange's TSIP area <br />that are identified in either the EIR or the New Traffic Study. <br />This payment shall in no event be less than Five Hundred Thousand <br />Dollars ($500,000.00); provided, however, that no payment shall be <br />made if Santa Ana has notified Orange that the Project is no <br />longer viable and that the parties to the Participation Agreement <br />have mutually rescinded that agreement. <br />5. As a condition precedent to "Commencement of <br />Construction" (as hereinafter defined) of the "Second Phase of the <br />Project" (as hereinafter defined) an irrevocable letter of credit <br />shall be provided to the JPA in an amount equal to the difference <br />between (a) the estimated cost, as reasonably determined by the <br />JPA ( "Cost "), of the mitigation measures located in Orange's TSIP <br />area that are recommended by either the EIR or the New Traffic <br />Study, minus (b) the sum of (i) TSIP fees in the possession of the <br />JPA plus (ii) any funds available from federal, state and county <br />funds,'as hereinafter provided, but in no event to exceed One <br />Million Two Hundred Fifty Thousand Dollars ($1.,250,000.00). <br />As a condition precedent to Commencement of Construction <br />of the "Third Phase of the Project" (as hereinafter defined) an <br />irrevocable letter of.credit shall be provided to the JPA in an <br />amount equal to the difference between (a) the Cost of the <br />mitigation measures located in Orange's TSIP area that are <br />4 0393S <br />