§ 12-4.604. DEFERRED PAYMENT AUTHORIZED.

Whenever a provision of this code or council resolution authorizes the deferred payment of a development fee pursuant to this section, a developer may elect to defer the payment of such fee for any lot or parcel until the issuance by the city of a certificate of occupancy for any building or structure on that lot or parcel by entering into an agreement with the city as follows:

(a) The fee obligation deferred, including fees generated by common areas, outlots, and similar areas within a subdivision or development, shall be prorated to each lot, parcel, unit or building in the manner specified by the Director.

(b) The deferred fee shall be payable at the rate in effect at the time of payment.

(c) The fee shall be payable no later than issuance by the city of a certificate of occupancy for any structure erected on said lot or parcel.

(d) The agreement authorizing deferred payment shall be in a form approved by the city attorney.

(e) The agreement shall be signed by all persons having a record interest in the real property for which the fees are being deferred and shall include a legal description of that property.

(f) The agreement shall provide that the whole or any part of the balance of the charges due may be accelerated and paid at any time at the option of the payor.

(g) The agreement shall constitute a covenant running with the land, shall establish a lien on the property in favor of the city in the amount of the deferred charges, and shall be recorded in the office of the Fresno County Recorder.

(h) The lien for said fee shall be enforceable by the city in any manner available at law or in equity, including but not limited to private foreclosure and sale of the property in the manner provided in Section 2924 of the California Civil Code. (Added Ord. 95-38, § 11, eff. 6-9-95).