No person acting in the capacity of an escrow agent in any real estate transaction involving the sale or transfer of a vacant building, shall disperse any funds held in escrow in compliance with Section 1338.06 unless there has been compliance with Section 1338.08.
(a) Funds shall be dispersed only upon written authorization from the Building Inspector or his/her designee as follows:
(1) The Building Inspector or his or her designee may authorize a release of funds from the escrow account established per Section 1338.06 as payment in full to a contractor as each violation is corrected, provided the amount due does not exceed the written estimate.
(Ord. 2014-27. Passed 6-3-14.)