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the Marina Boulevard/Interstate 880 Interchange Traffic Impact <br /> Fee. The payment shall be due and payable two (2) years following <br /> the date of the second payment. <br /> C. The Property Owner shall pay to the City interest on the unpaid balance of <br /> the DFSI. Said interest obligation shall commence on the issuance of occupancy permit <br /> and end on the date of final payment of said fees. Interest shall be at the rate of three <br /> percent (3.0%) per annum. <br /> D. Property Owner may at any time pay to the City the balance due for the <br /> DFSI, including interest prorated to the date of final payment. <br /> E. Should Property Owner fail to pay the DFSI in accordance with the above <br /> time payment schedule, the balance of such fees payable including interest shall <br /> constitute a special assessment against the Site, and upon the City's filing a certified <br /> statement of non-payment of such fees with the County Assessor, the special <br /> assessment shall be entered on the tax roll and shall attach against the Site. Said <br /> special assessment shall be collected at the same time and in the same manner as <br /> ordinary municipal ad valorem taxes and shall be subject to the same penalties and the <br /> same procedure and sale in case of delinquency as provided for such taxes. <br /> F. This Agreement shall be binding upon and inure to the benefit of the <br /> parties hereto and their respective heirs, successors and assigns. <br /> G. Property Owner agrees that any written notice sent to it at Danice J. and <br /> Earl C. Friend, 1315 Clarke Street, San Leandro, California 94577 shall constitute <br /> sufficient notice under the terms of this Agreement. <br /> Any written notice to City shall be sent to City Hall, 835 East 14th Street, <br /> San Leandro, California, 94577, attention City Clerk. <br /> Notice shall be deemed given three (3) business days after the date of <br /> mailing. <br /> H. City is authorized to record this Agreement and any amendments thereto <br /> with the Recorder of the County of Alameda, California. All amendments hereto must <br /> be in writing and signed by the appropriate authorities of the City and the Property <br /> Owner. <br /> DFSI Payment Schedule Agreement Page 3 of 4 <br /> 1315 CLARKE STREET 11/12/2014 <br />