(A) Eligibility for membership in the Program shall be limited to the owner of a qualified residence within the city who continuously occupies a qualified residence as a principal place of residence.
(B) An eligible applicant shall apply to the Program by submitting an application and a registration fee, as determined by the Commission. Prior to accepting a registration fee, the Commission shall inform the applicant of the rights, duties and obligations of both the member and the Commission under the Program. Upon receipt of the registration fee, the Commission shall have the residence of the applicant appraised by a Program appraiser to determine the guaranteed value of the residence.
(C) At its option, the Commission may require a second Program appraisal of the qualified residence, at the expense of the Program, if it determines that the first Program appraisal was incomplete, inadequate or inaccurate.
(D) A certificate of participation shall then be issued to the eligible applicant, certifying membership in the Program and stating the guaranteed value, the registration date, the address of the guaranteed residence and a description of the conditions and exclusions of the Program. An authorized Program appraisal shall be attached to the certificate of participation.
(Ord. 96-37, passed 10-8-1996)