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RECORDED AT THE REQUEST OF <br />AND RETURN TO: <br />City of Colton <br />650 N. La Cadena Drive <br />Colton, CA 92324 <br />Attn: City Clerk <br />[EXEMPT FROM RECORDING FEE PER Gov. CODE, § 273831 <br />SPACE ABOVE FOR RECORDER'S USE ONLY <br />DEFERRED IMPROVEMENT AGREEMENT <br />This Deferred Improvement Agreement is entered into as of this 17th day of <br />February, 2009, by and between the City of Colton, a municipal corporation ("City"), MTG <br />Holding, a limited liability corporation, and Ted Honcharik, an individual (collectively, <br />"Owner"). City and Owner are sometimes hereinafter individually referred to as "Party" and <br />hereinafter collectively referred to as the "Parties". <br />RECITALS <br />A. Owner owns certain real property more commonly known as 2001 Key Street, <br />Colton, California, and more specifically described in Exhibit "A" attached hereto and <br />incorporated herein by reference ("Property"). <br />B. On December 1, 2008, the Design Review Committee of the City approved a <br />proposal by Owner to temporarily operate a construction equipment storage facility on Property, <br />subject to certain conditions. <br />C. One of the conditions of approval requires Owner install improvements as <br />described in more detail in Exhibit "C" attached hereto and incorporated herein by reference <br />("Improvements"). <br />D. The City and Owner are willing to agree that improvements described as <br />Immediate Conditions in Exhibit "C" are to be constructed immediately and in accordance with <br />the terms and conditions hereafter set forth. <br />E. The City and Owner are willing to agree that the improvements described as <br />Deferred Conditions in Exhibit "C" are to be deferred in accordance with the terms and <br />conditions hereafter set forth. <br />Deferred Improvement Agreement <br />Page 1 of 12 <br />ORANGE\C W I LKES\54393.2 <br />