(a) If all violations listed on the Certificate of Inspection are not corrected prior to transfer of title, an escrow account shall be established by a party to the transfer, in an amount not less than one thousand dollars ($1,000) and equal to 100 percent of the estimated cost of repairs, shall be deposited therein to pay for the cost to correct all remaining violations. No party to a transfer of a vacant building shall authorize or accept such transfer without ensuring compliance with this section.
(b) The amount to be held in escrow shall be determined by a party of the transfer procuring written estimates from at least two companies capable of performing the work, which are currently registered to do business in Holmes County. The amount deposited into escrow shall be 100 percent of the higher of the two estimates.
(c) If the parties establishing the escrow can demonstrate to the Village Administrator that after a good faith effort he/she is unable to obtain to written estimates, the Village Administrator shall establish the amount to be placed in escrow.
(Ord. 2015-100. Passed 2-9-15.)