§ 150.035 TERMINATION.

   (A)   For purposes of this section the terms MORTGAGE, MORTGAGEE, and VACANT shall be defined as provided in § 150.031(E).

   (B)   Upon the occurrence of any of the following, the requirements of §§ 150.031 and 150.033 shall terminate with respect to a mortgagee: the filing with the Recorder of Deeds Office of a satisfaction or release of the mortgagee’s mortgage.

   (C)   Upon the occurrence of any of the following, the requirements of §§ 150.031 and 150.033 shall terminate with respect to a building:

      (1)   The filing with the Recorder of Deeds Office of a conveyance of title to the underlying real estate, pursuant to foreclosure proceedings or otherwise;

      (2)   The building ceases to be vacant; or

      (3)   The building is demolished with all permits required by the Village of Maywood and all required permits required by Cook County.

   (D)   Within 10 days of termination pursuant to this section, a mortgagee shall notify the Building and Code Enforcement Department on a form provided by the Building and Code Enforcement Department for such purpose.

(Ord. CO-2012-08, passed 2-21-2012; Am. Ord. CO-2021-21, passed 8-17-2021)