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the following schedule and amounts: <br /> 1. First Payment; Payment due shall be equal to one-fourth (1/4) of <br /> the actual fee or Fourteen Thousand, Fourteen Dollars and Eleven <br /> Cents($14,014.11). This payment shall be paid to City at the time <br /> the building permit is issued for the Site. <br /> 2. Second Payment: Payment due shall be equal to one-fourth (1/4) of <br /> the actual fee or Fourteen Thousand, Fourteen Dollars and Eleven <br /> Cents($14,014.11), PLUS interest as set forth in this Agreement <br /> which equals Fifteen Thousand, Two Hundred Seventy Five Dollars <br /> and Thirty Eight Cents ($15,275.38). The payment shall be due and <br /> payable one (1) year following the date of issuance of the <br /> occupancy permit. <br /> 3. Third Payment. Payment due shall be equal to one-fourth (1/4) of <br /> the actual fee or Fourteen Thousand, Fourteen Dollars and Eleven <br /> Cents($14,014.11), PLUS interest as set forth in this Agreement <br /> which equals Fourteen Thousand, Eight Hundred Fifty Four Dollars <br /> and Ninety Six Cents ($14,854.96). The payment shall be due and <br /> payable one (1) year following the date of the second payment. <br /> 4. Fourth Payment: Payment due shall be equal to one-fourth (1/4) of <br /> the actual fee or Fourteen Thousand, Fourteen Dollars and Eleven <br /> Cents($14,014.11), PLUS interest as set forth in this Agreement <br /> which equals Fourteen Thousand, Four Hundred Thirty Four <br /> Dollars and Fifty Four Cents ($14,434.54). The payment shall be <br /> due and payable two (2) years following the date of the second <br /> payment. <br /> C. The Property Owner shall pay to the City interest on the unpaid balance of <br /> the UUCF. Said interest obligation shall commence on the issuance of occupancy <br /> permit and end on the date of final payment of said fees. Interest shall be at the rate of <br /> three percent (3.0%) per annum. <br /> D. Property Owner may at any time pay to the City the balance due for the <br /> UUCF, including interest prorated to the date of final payment. <br /> E. Should Property Owner fail to pay the UUCF 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 /> UUCF Payment Schedule Agreement Page 2 of 4 <br /> 15420 HESPERIAN BOULEVARD 2/19/2015 <br />