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The Deferral Agreement

A. Payment of Deferred City Fees. The developer will pay all deferred municipal taxes before the start of the final inspection, before the expiry of the building permit for the project or three years after the effective date of the deferral agreement, whichever happens first. Any final inspection or certificate of occupancy carried out before the payment of the deferred city fees is not valid. Deferred remuneration is a written agreement between an employer and an employee in which the worker voluntarily agrees that part of his remuneration will be withheld by the company, invested in his name and that it will be given at some point in the future.