Sec. 6-178

Citation: Sec. 6-178 2.
Parent Document: Portland City Code ch. 6
Jurisdiction: Portland (municipal)
Original Source: https://www.portlandmaine.gov/asset/c5af4c63-b877-4ea8-9d29-8420cbad7717 ↗

Full Text

961 chars

2. If only a Commercial PACE Assessment is delinquent but
      the borrower or property owner is current on payment of all
      municipal taxes due to the City, then a Commercial PACE
      lienholder shall accept an assignment of the Commercial PACE
      Lien, as provided in the written agreement between City and
      the Capital Provider. The assignee shall have and possess
      all the same powers and rights at law as the City and its
      tax collector with regards to the priority of the Commercial
      PACE Lien, the accrual of interest and fees and the costs of
      collection. The assignee shall have the same rights to
      enforce the Commercial PACE Lien as any private party or
      lender holding a lien on real property, including, but not
      limited to, the right of foreclosure consistent with 14
      M.R.S.§§ 6203-A and 6321 and any other action in contract or
      lawsuit for the enforcement of the Commercial PACE Lien.

Other Sections in This Document (920)

Full Text