Common use of Deferred Fees Clause in Contracts

Deferred Fees. Notwithstanding any other provision of this Section 2, if Tri-Point fails to complete the Conditions for the Project by the Consolidation Deadline, any fees and use taxes that would have been due with respect to the Project in the absence of the foregoing waiver or credit shall be deemed to have been deferred and shall be paid to the City by Tri-Point on or before the issuance of a permanent certificate of occupancy or letter of completion for the Project. If not timely paid, the City may use any or all collection remedies available to it under the Loveland Municipal Code and shall be entitled to withhold the permanent certificate of occupancy or letter of completion for the Project until such amounts are paid in full.