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iMa:11-111 a <br />Section 3.1.1 shall automatically be deemed to be part of the Deferral Period for purposes of this <br />Agreement. <br />3.1.2 Payment of Subject Fees. Owner, or its successor in interest to the <br />Property or any portion thereof, shall be liable for the payment of the Subject Fees pursuant to <br />this Agreement. The Subject Fees for a residential building constructed on the Property shall be <br />due and payable at the termination of the Deferral Period. No certificate of occupancy shall be <br />issued for the building, any portion, or any residential units thereof on the Property unless and <br />until all Subject Fees have been paid in full. <br />3.1.3 Subject Fee Amount. Except as may otherwise be provided for by a <br />statutory development agreement for the Property, as approved by the City, the amount of the <br />Subject Fee for each residential unit to be developed on the Property shall be determined according <br />to the rate of the Subject Fee adopted by the City and in effect on the date when the building <br />permit for the residential building is issued by the City. Upon issuance of each building permit, <br />the City shall complete and attach the form set forth in Exhibit `B" to this Agreement to reflect <br />the amount of the Subject Fee applicable at the time of issuance of that building permit and attach <br />a copy of the building permit, which shall collectively thereafter be incorporated as part of this <br />Agreement. <br />3.1.4 Obligation for Payment of Subject Fee. Owner hereby acknowledges <br />and agrees that Owner's obligation to pay the Subject Fees shall continue and remain an obligation <br />of Owner, as well as (jointly and severally) any successors in interest of Owner, including, without <br />limitation, any successor in interest to the Property or any portion of the Property. Without <br />limiting the nature of the foregoing, any Subject Fees that remain unpaid following the time that <br />they are required to be paid may be collected by the City as a personal obligation of the Owner, <br />or any successor of Owner, as a special assessment against the property (collected at the same <br />time and in the same manner as ad valorem property taxes), or by any combination of the <br />foregoing. <br />3.2 Covenant of Owner. Owner covenants that he, she or it is eligible to enter into <br />this Agreement and has fulfilled the requirements for approval of deferral of the Subject Fees. <br />Should Owner and/or the Property be deemed at any time prior or subsequent to execution of this <br />Agreement to be ineligible for a deferral of Subject Fees regardless of whether Owner intentionally <br />or unintentionally misrepresented to the City that Owner was eligible for a deferral of Subject <br />Fees, City may terminate this Agreement and require all Subject Fees to be immediately paid in <br />full. <br />3.3 Recordation of Agreement. Upon the execution of this Agreement, the City shall <br />cause this Agreement to be recorded in the Official Records of the County of Orange, California. <br />All costs assessed by the County of Orange for recordation of this Agreement shall be paid by the <br />Owner. <br />3.4 Lien against Property. From and after its execution, this Agreement shall <br />contractually bind Owner to pay all Subject Fees as provided in this Agreement, and shall <br />constitute a lien against the Property in an amount equal to the total Subject Fees, pursuant to <br />Government Code section 66007(c)(2). Upon payment to City of the total amount of the Subject <br />254-8 <br />