Mortgagees shall pay any required fees until the property is transferred to a bona fide owner-occupant or an unaffiliated third-party. The fees for the various requirements under this chapter are as follows:
Title of Fee | Fee Amount |
Initial registration fee | $500 |
Annual registration fee | $500 |
All fees shall be directed to a special fund designated only for use in administering and operating the registry program. The fee is non-refundable and cannot be prorated. In the event the mortgagee shall fail to pay the appropriate registration fee within the time prescribed by this chapter, then the city may assess the foreclosed property the amount of the registration fee due as an encumbrance upon the foreclosed property.
(Ord. 16-1782, passed 6-21-16)