§ 34.03 POLICY ON SUBORDINATION OF SPECIAL ASSESSMENTS TO RESIDENTIAL FIRST MORTGAGES.
   (A)   The Town Board of Alderpersons elect not to allow residential property owners who are more than 30-days’ delinquent six or more times in making his or her monthly payment to subordinate special assessments to their new first mortgage.
   (B)   Exceptions of this policy could be made on a case to case basis depending on the circumstances of the property owner and his or her commitment to making future payments in a timely manner. The payment of all delinquent installments could also be required by the Board as a requirement for subordination.
(1992 Code, § 34.03) (Ord. 03-54, passed 12-8-2003)