The director or the director’s subordinate shall, on payment of the purchase price, make, execute, and deliver all proper conveyances necessary in the premises and the delivery of the conveyances shall vest in the purchaser the title to the property sold; provided that the deed to the premises shall be recorded within 60 days after the sale; provided further, that the taxpayer may redeem the property sold by payment to the purchaser at the sale, within one year from the date thereof, or if the deed shall not have been recorded within 60 days after the sale, then within one year from the date of recording of the deed, of the amount paid by the purchaser, together with all costs and expenses that the purchaser was required to pay, including the fee for recording the deed, and in addition thereto, interest on such amount at the rate of 12 percent a year, but in a case of redemption more than one year after the date of sale by reason of extension of the redemption period on account of late recording of the tax deed, interest shall not be added for the extended redemption period.
(Sec. 8-5.6, R.O. 1978 (1983 Ed.)) (1990 Code, Ch. 8, Art. 5, § 8-5.6)