(A) Any lender/mortgagee, who holds a lien on a property located within the city shall perform an inspection of the property that is the security for the mortgage, prior to filing a complaint of foreclosure or executing a deed in lieu of foreclosure. If the property is found to be vacant or shows evidence of vacancy, it is, by this subchapter, deemed abandoned and the lender/mortgagee shall, on the same day the complaint of foreclosure is filed or executing a deed in lieu of foreclosure is executed, register the property as a vacant property with the city’s Code Enforcement Department for the purpose of minimizing hazards to persons and property as a result of the vacancy using the forms provided by the city’s Code Enforcement Department.
(B) If the property is occupied but remains in default it shall be inspected by the lender/mortgagee, or his or her designee, monthly until 1) the mortgagor or owner or other party remedies the default or 2) It is found to be vacant or shows evidence of vacancy at which time it is deemed abandoned, and the trustee shall, within ten days of that inspection, register the property with the city’s Code Enforcement Department on forms provided by the city.
(C) The registration shall contain the name of the lender/mortgagee (corporation or individual), the direct street/office mailing address, a direct contact name and phone number for the lender/mortgagee and, in the case of a corporation or out of area lender/mortgagee, the local property management company responsible for the security, maintenance and marketing of the property. Registration fees will not be prorated.
(D) An annual registration fee shall accompany the registration form. The fee and registration shall be valid for the calendar year, or remaining portion of the calendar year, in which the registration was initially required. Subsequent registrations and fees are due January 1 of each year and must be received no later than January 31 of the year due. This section shall also apply to properties that have been the subject of a foreclosure sale where the title was transferred to the lender/mortgagee involved in the foreclosure and any properties transferred under a deed in lieu of foreclosure. Properties subject to this chapter shall remain under the annual registration requirement, security and maintenance standards of this section as long as they remain vacant. Any person, firm or corporation that has registered a property under this subchapter must report any change of information contained in the registration within ten days of the change.
(Ord. 12-15, passed 5-22-12)