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DEFERRED PAYMENT AGREEMENT THIS DEFERRED PAYMENT AGREEMENT is made and entered into this ,S~' day of M a.J , 2004, by and between the City of Pleasanton ("City") and Jude Inv nt Enterprises, LLC ("Developer"). RECITALS WHEREAS, Developer owns real property commonly known as 3575 Boulder Court, Pleasanton, California, and more particularly described as Parcel 2 of Parcel Map 8182 recorded as Instrument No. - on A-prt ~ 5 , 2004 in Book2~( at Pages~of the Alameda County Records (APNgµ(~-~{~}']=1s1) ("Property"); WHEREAS, on October 22, 2003, the City approved PDR-318 for design review of a building and related improvements on the Property, and on December 5, 2003, the City approved Case PMS-23 for a Vesting Tentative Parcel Map 8182 to subdivide an 11.82-acre lot into three parcels including the Property ("Project"); WHEREAS, the project includes the installation of photovoltaic roof panels though a State of California grant and tax credit program; WHEREAS, the conditions of approval for the Project require Developer to pay all required development fees, many of which are collected with the issuance of a building permit; WHEREAS, the actual amount of the development fees due at the issuance of a building permit is significantly higher than the original estimate of the fees, given how the fees were originally estimated and subsequent increases in a number of fees; and WHEREAS, City is willing to defer payment of the low income, public facility and City's traffic impact fee (estimated at $123,708) in light of this situation and the desire to allow the Developer to proceed with the Project, especially the photovoltaic roof panels that will result in energy being generated for the power grid; NOW, THEREFORE, in consideration of the mutual promises contained in this Agreement, the parties agree as follows: 1. Deferred Payment. The City agrees that Developer may defer payment of the City's traffic impact, low-income housing and public facility fees up to 60 days from the issuance of a building permit (Plan Check Number CPC 201905). Partial payments during that 60-day period are acceptable. No interest or penalties shall be applied to the deferred fees, unless the fees are not paid within the 60-day period in which case, interest and penalties shall be calculated from the time of issuance of the building permit. All other fees due at the time of issuance of a building permit shall be paid, including but not limited to those fees collected by the City's Public Works Department for water connections. Deferred Payment Agreement -Page 1 of 2