Failure to pay any installment, whether principal or interest, when due, shall cause the whole of the unpaid principal to become due and collectible immediately, and the whole amount of the unpaid principal and accrued interest shall thereafter draw interest at the rate of 1.5% per month or fraction of a month until the date of sale, as provided hereinafter. At any time prior to the date of sale, the owner may pay the amount of all unpaid installments with interest and all penalties accrued, and shall thereupon be restored to the right thereafter to pay in installments in the same manner as if default had not been suffered. The owner of any property not in default as to any installment or payment may at any time pay the whole of the unpaid principal with the interest accruing to the maturity of the next installment of interest or principal.
(Ord. 14(1988) § 1)