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IMPACT FEE DEFERRAL AGREEMENT TEMPLATE <br />CITY ATTORNEY APPROVED VERSION REV: 06-10-25 VR <br />Page 1 of 11 <br />RECORDING REQUESTED BY ) <br />AND WHEN RECORDED RETURN TO: ) <br /> ) <br />City of Redwood City ) <br />1017 Middlefield Road ) <br />Redwood City, California 94063 ) <br />Attn: City Clerk ) <br /> <br />(Space Above This Line for Recorder's Use Only) [Exempt <br />from recording fee per Gov. Code § 27383) <br />DEVELOPMENT FEE DEFERRAL AGREEMENT <br />AND NOTICE OF LIEN WITH POWER OF SALE <br /> <br />This DEVELOPMENT FEE DEFERRAL AGREEMENT (the “Agreement”) is entered <br />into as of __________, 20__, (the “Effective Date”), by and between [BUSINESS NAME], a <br />California [TYPE OF ENTITY] (“Developer”), and THE CITY OF REDWOOD CITY, a charter <br />city and municipal corporation (the “City”). Developer and City agree as follows, with <br />reference to the following facts: <br /> <br />RECITALS <br /> <br />A. Developer owns certain real property located at [STREET ADDRESS], <br />Redwood City, California, [ZIP CODE], more specifically described in Exhibit A (the <br />“Property”). Developer has received the required approvals for the development of the <br />Property [Insert project description] (the “Project”). <br /> <br />B. The City is authorized under state law to levy, and the Developer is obligated <br />under the Redwood City Municipal Code to pay certain fees associated with the <br />development of real property. The development impact fees for the Project that are to be <br />deferred pursuant to this Agreement are described in Exhibit B (“Impact Fees”). <br /> <br />C. Developer is being granted a deferral of the payment of the Impact Fees for its <br />Project pursuant to Redwood City Municipal Code Section 18.269, enacted by the Development <br />Fee Deferral Ordinance, Ordinance No. ____, adopted by the City Council as of __ day of <br />__________, 2025, and effective on ____ day of __________, 2025, and authorizing deferrals <br />of payment for the Impact fees associated with development projects. <br /> <br />D. The City desires to allow the deferral of the Impact Fees subject to the execution <br />of an agreement and the imposition of a valid lien upon the Property. <br /> <br />NOW, THEREFORE, Developer and City agree as follows: <br /> <br />1. Payment of Fees. Developer agrees to pay to the City the Impact Fees for the <br />Project prior to (and as a condition precedent to) the earlier of the following: (a) the City’s issuance <br />of the first certificate of occupancy (whether temporary or final) or (b) the City’s approval of the <br />final building inspection of the Project. <br /> <br />2. Lien Against the Property. <br /> <br />a. The Developer hereby grants to the City a lien, with power of sale, on the Property <br />and Project to secure final payment of the Impact Fees and the City’s cost of foreclosure, <br />6.L. - Page 10 of 20 <br />388