(A) Any beneficiary/lienholder, who holds a deed of trust on a property located within City of Berea, shall perform an inspection of the property that is the security for the deed of trust, prior to filing a complaint of foreclosure or executing a deed in lieu of foreclosure. If the property is found to be vacant or shows evidence of vacancy, it is, by this article, deemed abandoned and the creditor shall, within five (5) days the complaint of foreclosure is filed or executing a deed in lieu of foreclosure is executed, register the property as a vacant property with the City of Berea Building Inspection Department for the purpose of minimizing hazards to persons and property as a result of the vacancy using the forms provided by the Madison County Building Inspection Department.
(B) If the property is occupied but remains in default it shall be inspected by the Beneficiary/lienholder, or his designee, monthly until 1) the lienholder or other party remedies the default; or 2) it is found to be vacant or shows evidence of vacancy at which time it is deemed abandoned, and the lienholder shall, within five (5) days of that inspection, register the property with the City of Berea Building Inspection Department.
(C) The registration shall contain the name of the beneficiary/lienholder (corporation or individual), the direct street/office mailing address of the beneficiary/lienholder (no P.O. Boxes), a direct contact name and phone number for the beneficiary/lienholder and, in the case of a corporation or out of area beneficiary/lienholder, the local property management company responsible for the security, maintenance and marketing of the property. Registration fees will not be prorated.
(D) An annual registration fee shall accompany the registration form. The fee and registration shall be valid for the calendar year, or remaining portion of the calendar year, in which the registration was initially required. Subsequent registrations and fees are due January 1st of each year and must be received no later than January 31st of the year due. This section shall also apply to properties that have been the subject of a foreclosure sale where the title was transferred to the lienholder of a deed of trust involved in the foreclosure an any properties transferred under a deed in lieu of foreclosure/sale. Properties subject to this chapter shall remain under the annual registration requirement, security and maintenance standards of this section as long as they remain vacant. Any person, firm, or corporation that has registered a property under this article must report any change of information contained in the registration within ten (10) days of the change.
(Ord. No. 07-13, § 1, 5-21-13)