RecDoc2025-046782 Development Fee Deferral Agreement 160 Harrison Ave. Holding, LLC

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2025-046'1"82 2:14 pm 09109/2025 ?\G LN Fee: NOFEE Count of rages 13 Recorded in Official Reccr& RECORDING REQUESTED BY County of Sari Mateo AND WHEN RECORDED RETURN TO: ) MarkChuiuh City of Redwood City ) Ass essor -County Clerk -Ra -corder 1017 Middlefield Road ) iI : 11�1��II 1, i� 11111�111�i IIRedwood City, California 9406311 I 11111 I1 IiAttn: City Clerk ) *$ R U 0 0 3 6 0 7 2 5 5$ 1 i! (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 A-lcw9r 2-7 , 20 ZS (the "Effective Date"), by and between 160 Harrison 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 160 Harrison Avenue , Redwood City, California, 94062more specifically described in Exhibit A (the "Property"). Developer has received the required approvals for the development of the Property, including demolition of an existing two-story structure (garage with 2nd floor living unit) and construction of a new 3 -Story 3,843 Sq.Ft. building (1st level storage unit and 2nd & 3rd level living units on top) (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. Payment 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.2025.202/160 HARRISON AVE LLC (160 HARRISON AVE # E & #F Impact Fee Deferral) (Page 1 of 10)