RecDoc2025-046781 Development Fee Deferral Agreeement 1634 Brewster Ave. Holding LLC.

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RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: City of Redwood City 1017 Middlefield Road Redwood City, California 94063 Attn: City Clerk 2025-046781 2:14 prr 09/09/2025 AG LN Foe: NO FEE Count of Pares 13 Recorded in Otficial Records County of San Mateo Mark Church Assessor -County Clerk-Recordei 11 lii'i ! IN 111 IiI 1 11.E ill 1 . 8 0 0 0 3 6 0 7 2 5 4$ (Space Above This Line for Recorder's Use Only) [Exempt from recording fee per Gov Code § 27383) DEVELOPMENT FEE DEFERRAL AGREEMENT AND NOTICE OF LIEN WITH POWER OF SALE This DEVELOPMENT FEE DEFERRAL AGREEMENT (the "Agreement") is entered into as of ' est_2-7 . 20?5 (the "Effective Date"), by and between 1634 Brewster Ave Holding, LLC, a Delaware limited liability company ("Developer'), and THE CITY OF REDWOOD CITY, a charter city and municipal corporation (the "City"). Developer and City agree as follows, with reference to the following facts: RECITALS A. Developer owns certain real property located at 1634 BREWSTER AVE, Redwood City, California, 94062 more specifically described in Exhibit A (the "Property"). Developer has received the required approvals for the development of the Property, including demolition of an existing rear shed and construction of a 2 -Story 2,896 Sq. Ft. Residence (298 Sq. Ft. ADU conversion included) on the rear lot of a SB -9 Lot Split (the "Project"). B. The City is authorized under state law to levy, and the Developer is obligated under the Redwood City Municipal Code to pay certain fees associated with the development of real property. The development impact fees for the Project that are to be deferred pursuant to this Agreement are described in Exhibit B ("Impact Fees"). C. Developer is being granted a deferral of the payment of the Impact Fees for its Project in accordance with Senate Bill 937, effective January 1, 2025. Pursuant to Government Code Section 66007, a template Development Fee Deferral Agreement authorizing deferrals of payment for the Impact fees associated with development projects was approved by the City Council on June 23, 2025, and posted on the City's website as of July 28, 2025. D. The City desires to allow the deferral of the Impact Fees subject to the execution of an agreement and the imposition of a valid lien upon the Property. NOW, THEREFORE, Developer and City agree as follows: 1. Pent of Fees. Developer agrees to pay to the City the Impact Fees for the Project prior to (and as a condition precedent to) the earlier of the following: (a) the City's issuance of the first certificate of occupancy (whether temporary or final) or (b) the City's approval of the final building inspection of the Project. REV: 08-06-25 VR ATTY/AGR.2025.203/1634 Brewster Ave Holding, LLC (Page 1 of 10)