SECTION 19.204. LIEN CREATED; ENFORCEMENT.

   In the event a deed is filed for Recordation or there is an assignment of beneficial interest conveying any interest in real estate within the corporate limits of the Village without payment of the tax imposed in Section 19.201, a lien is declared created against said real estate so conveyed in the amount of the tax. The fact that the deed or assignment does not contain Village revenue stamps in an amount equal to the tax imposed by this subchapter shall constitute constructive notice of lien. The lien may be enforced by proceedings for foreclosure, as in cases of mortgages or mechanics' liens. Suit to foreclose this lien must be commenced within three (3) years after the date of recording the deed. Nothing herein shall be construed as preventing the Village from bringing a civil action to collect the tax imposed by this subchapter from any person who has the liability for payment of the same, including interest and penalties as hereinbelow provided.

(Ord. 328, passed 4-10-96; Am. Ord. 341, passed 5-8-96)

SECTION 19.205. DEEDS EXEMPTED FROM TAX.

   Provided that a declaration is filed pursuant to Section 19.202, the following deeds shall be exempt from the tax imposed by this subchapter:

   A.   Deeds representing real estate conveyances pursuant to contracts duly executed and in full force and effect on or before April 30, 1996;

   B.   Deeds relating to real property acquired by any governmental body or from any governmental body or deeds to or documents relating to property or interests transferred between governmental bodies; or deeds or trust documents, in which the Administrators of Veterans' Affairs of the United States of America is the grantee pursuant to a foreclosure proceeding [Note: Deeds to any corporation, society, association, foundation or institution organized and operated exclusively for charitable, religious or educational purposes and, shall not be exempt from payment of this tax.];

   C.   Deeds which secure debt or other obligation;

   D.   Deeds which, without additional consideration, confirm, correct, modify, or supplement a deed previously recorded;

   E.   Deeds where the actual consideration is less than One Hundred Dollars ($100);

   F.   Tax deeds;

   G.   Deeds of release of property which is security for a debt or other obligation;

   H.   Deeds of partition;

   J.   Deeds made pursuant to mergers, consolidations, or transfers or sales of substantially all of the assets of corporations pursuant to Federally authorized plans of reorganization;

   K.   Deeds made by a subsidiary corporation to its parent for no consideration other than the cancellation or surrender of the subsidiary's stock;

   L.   Deeds wherein there is an actual exchange of real estate and trust documents wherein there is an actual exchange of beneficial interests, except that the money difference or money's worth paid from one or the other shall not be exempt from the tax;

   M.   Deeds representing transfers subject to the imposition of a documentary stamp imposed by the government of the United States; and/or

   N.   Deeds issued to a holder of a mortgage pursuant to a mortgage foreclosure proceeding or pursuant to a transfer in lieu of foreclosure.

(Ord. 328, passed 4-10-96; Am. Ord. 341, passed 5-8-96; Am. Ord. 549, passed 11-18-2005)

SECTION 19.206. ENFORCEMENT; SUIT FOR COLLECTION.

   Whenever any person required under the terms of this subchapter to pay the taxes or any portion thereof required to be paid as provided in this subchapter shall fail to pay any such taxes, or whenever any purchaser or grantee shall accept a deed of conveyance where the applicable tax imposed by this subchapter has not been paid, the Village Attorney of the Village shall, upon request of the Village Clerk, bring or cause to be brought an action to enforce the payment of said tax, including interest and penalties as hereinbelow provided, on behalf of the Village in any court of competent jurisdiction.

(Ord. 328, passed 4-10-96; Am. Ord. 341, passed 5-8-96)

SECTION 19.207. INTEREST AND PENALTIES.

   In the event of failure by any person to pay to the Village Clerk the tax required hereunder when the same shall be due, interest shall accumulate and be due upon said tax at the rate of one percent (1%) per month, commencing as of the first day following the day when the tax becomes due. In addition, a penalty of ten percent (10%) of the tax and interest due shall be assessed and collected against any person failing to pay the tax imposed upon said person under the terms of this subchapter.

(Ord. 328, passed 4-10-96; Am. Ord. 341, passed 5-8-96)

SECTION 19.208. PROCEEDS OF TAX.

   All proceeds resulting from the imposition of the tax, including interest and penalties, shall be paid to the Village and shall be credited to and deposited in the general fund of the Village.

(Ord. 328, passed 4-10-96; Am. Ord. 341, passed 5-8-96)