DEFERRED PAYMENT AGREEMENT
QUALIFIED NON .. RESIDENTIAL PROJECT
OWNER: GIii Hospitality LLC, a California limited liability company and Sethi Holdings, LP, a Califomla limited partnership
ADDRESS: 3651 Arch Road
Stockton, CA 95212
APN: 179-480.07
BUILDING PERMIT NO (SITE): BP20�543
PROJECT: Hampton Inn by HIiton Hotel- 67,736 SF, 98 .. rooms, fitness center, and pool
1. PARTIES. This Agreement Is entered into on June 14, 2021. by and between the CITY OF STOCKTON, a .munic.:>al corporation ("CITY"), and GILL HOSPITALITY LLC. a Califomia limited liability company and SETHI HOLDINGS. LP, a Califomla limited �artnerahlp.
2. PURPOSE. The purpose of this Agreement Is to set forth the terms and conditions under which CITY agrees to defer the collection of development fees pursuant to the Publio Facilities Fee Program Administrative Guidelines as adopted and amended by the City Council and In effect as of the date of execution of this Agreement (the "Guidelines"), and OWNER agrees to pay the fee$ as provided in this Agreement.
3. TERMS ANO CONDITIONS. OWNER has appHed to CITY and
received certification from the City Manager or a designee that thts non-residential project Is a .. Qualified Pro]ecr as defined in section I.C.1.a of the Guidelines (the "Project") and oonsistin.g of the construction of a 98--room, 67,736 square foot, Hampton Inn by Hilton Hotel, with a fitness center and pool.,
a. The property and Project are located within the City of stockton, Co1:mty of San Joaquin, State of Califo.rnia, and the property is more particularly described in Exhibit "A", attached and incorporated by this reference. 1 TEN .. YEAR PROGRAM FIVE
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