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RecDoc 2012-112938
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RecDoc 2012-112938
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Last modified
8/13/2012 12:28:01 PM
Creation date
8/13/2012 12:24:57 PM
Metadata
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Template:
Recorded Docs
Recorded Docs - Type
Agreement
Subject
Fee Deferral Agreement secured by Deed of Trust
Doc Num
2012-112938
Rec Date
8/9/2012
APN
052-326-100
Address
201 Marshall
Parties
Raintree 201 Marshall LLC
MO Ref
12-131
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2012-112938 CONF <br /> 11:05 am 08l09I12 AG Fee: NO FEE <br /> RECORDING REQUESTED BY ) Count of pages 7 <br /> AND WHEN RECORDED RETURN TO: ) Recorded in Official Records <br /> } County of San Mateo <br /> � Mark Church <br /> City of Redwood City � Assessor-County Clerk-Recorder <br /> 1017 Middlefield Road � I IIIIIIII II��IIIII�IIIIII IIIII IIIII!IIIII IIIII IIIII�IIIII IIIII�IIII IIII <br /> Redwood City, California 94063 ) * R o 0 0 1 4 6 5 � 6 7 * <br /> Attn: City Clerk ) <br /> ) <br /> (Space Above This Line for Recorder's Use Only) <br /> [Exempt from recording fee per Gov.Code§27383] <br /> PARK IMPACT FEE DEFERRAL AGREEMENT <br /> SECURED BY DEED OF TRUST <br /> THIS PARK IMPACT FEE DEFERFcAL AGREEMENT (the "Agreement") is <br /> entered into as of the �_ day of ��� 20��the "Effective Date"), by and <br /> between RAINTREE 201 MARSHALL LLC, a Delaware limited liability company <br /> ("Developer"), and THE ClTY OF REDWOOD CITY (the "City"}. Developer and City <br /> agree as follows, with reference to the following facts: <br /> RECITALS <br /> A. Developer owns that certain real property located at 201 Marshall Street, <br /> Redwood City, California, as more particularly described on Exhibit A attached hereto <br /> (the "Property"). Developer has received the required approvals for the development of <br /> the Property as a 116 rental apartment project (the "DevelopmenY'}; and <br /> B. The City is authorized under state !aw to levy, and the Developer is <br /> obligated under City of Redwood City Municipal Code Section 18.258 to pay, park <br /> impact fee to offset impacts of the Development on parks and community facilities; and <br /> C. Pursuant to Re�wood City Municipal Code Section 18.258, the park <br /> impact fee accrued on January 10, 2012, upon approval of the first discre#ionary permit <br /> for the Development, and is due and payable when an application for the first buiiding <br /> permit is submitted; and <br /> D. Developer has requested a deferral of the payment of the park impact fee <br /> (the "Fee") pursuant to Redwood City Municipal Code Section 18.258.C; and <br /> E. The City desires to allow the Fee deferral subject to the execution of an <br /> agreement and deed of trust as authorized by E�edwood City Municipal Code <br /> Section 18.258.C. <br /> NOW, THEREFORE, Developer and City ag�ee as foilows: <br /> ATTY/AGR/2012.086/PARK IMPACT FEE DEFERRAL AGREEMEN7 201 NlARHSALL <br /> REV:07-11-12 VR <br />
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