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5. Section 705 is added to the D.D.A.., to read as follows: <br />"E. (0051 Parking Facility Construction Assessment <br />(a) The parties hereto agree and stipulate that <br />the Agency and the City have sold Certificates of Participation <br />for the "City of Santa Ana Downtown Parking Facilities Project" <br />to finance the acquisition .of land for, and the construction of, <br />parking facilities in the downtown portion of the City, includ- <br />ing a parking structure in the area designated as "Public Parking <br />Area All in Attachment No. 6 to this Agreement and a surface <br />parking lot in the area designated as "Public Parking Area B" <br />in said Attachment. <br />(b) Redeveloper, on its own behalf, and on behalf <br />of its successors and assigns, covenants and agrees to pay to <br />Agency,'on an annual basis, an assessment, as hereinafter spec- <br />ified, to assist Agency and City in paying the debt service on <br />the aforesaid Certificates of Participation. <br />(c) Said annual assessment shall be either (1) <br />an amount equal to $0.60 multiplied by the total gross floor <br />area in all buildings located on all Sales Parcels and all <br />Participant Parcels within the Site, as determined by the <br />Agency, or (2) $70,000.00, whichever is greater, subject <br />to the exceptions and limitations hereinafter set forth. <br />-5- <br />