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a 1 <br /> • <br /> 1. First Payment; Payment due shall be equal to one-fourth (1/4) of <br /> the actual fee or Forty Thousand, One Hundred Twenty Eight <br /> Dollars and Ninety Three Cents ($40,128.93). This payment shall <br /> be paid to City at the time 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 Forty Thousand, One Hundred Twenty Eight <br /> Dollars and Ninety Three Cents ($40,128.93), PLUS interest as set <br /> forth in this Agreement which equals Forty Four Thousand, Nine <br /> Hundred Forty Four Dollars and Forty Cents ($44,944.40). The <br /> payment shall be due and payable one (1) year following the date <br /> of issuance of the building permit. <br /> 3. Third Payment. Payment due shall be equal to one-fourth (1/4) of <br /> the actual fee or Forty Thousand, One Hundred Twenty Eight <br /> Dollars and Ninety Three Cents ($40,128.93), PLUS interest as set <br /> forth in this Agreement which equals Forty Three Thousand, Three <br /> Hundred Thirty Nine Dollars and Twenty Four Cents ($43,339.24). <br /> The payment shall be due and payable one (1) year following the <br /> 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 Forty Thousand, One Hundred Twenty Eight <br /> Dollars and Ninety Three Cents ($40,128.93), PLUS interest as set <br /> forth in this Agreement which equals Forty One Thousand, Seven <br /> Hundred Thirty Four Dollars and Nine Cents ($41,734.09). The <br /> payment shall be due and payable two (2) years following the date <br /> of the second payment. <br /> C. The Property Owner shall pay to the City interest on the unpaid balance of <br /> the PFDI. 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 four <br /> percent (4.0%) per annum. <br /> D. Property Owner may at any time pay to the City the balance due for the <br /> PFDI, including interest prorated to the date of final payment. <br /> E. Should Property Owner fail to pay the PFDI 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 /> PFDI Payment Schedule Agreement Page 2 of 4 <br /> 13547 AURORA DRIVE 6/8/2015 <br />