The option to defer the payment of special assessments shall terminate, and all amounts accumulated plus applicable interest shall become due upon the occurrence of any of the following events:
(A) The death of the owner, provided that the spouse is otherwise not eligible for the benefits hereunder;
(B) The sale, transfer, or subdivision of the property or any part thereof;
(C) If the property should for any reason lose its homestead status; or
(D) If for any reason the city shall determine that there would be no hardship to require immediate or partial payment.
(Ord. 432, passed 5-5-2015)