City of South Portland, ME, Code of Ordinances ch. 5 (Buildings), Art. VII (Rental Registration)

Citation
City of South Portland, ME, Code of Ordinances ch. 5 (Buildings), Art. VII (Rental Registration)
Source
Official source
Original Source
https://southportland.gov/DocumentCenter/View/1421/Ch-05-Buildings ↗

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If the Trust or a 3rd-party administrator contracted by the Trust or an agent
of the City collects Commercial PACE Assessments on behalf of the City, the
Trust or agent shall periodically report to the City on the status of the
Commercial PACE Assessments in the City and shall notify the City of any
delinquent Commercial PACE Assessments. Upon receiving notification from the
Trust or agent of a delinquent Commercial PACE Assessment, the City shall
notify the holder of any mortgage on the property of the delinquent assessment.

(d)​Notice; filing. A notice of a Commercial PACE Agreement must be filed in the
appropriate Registry of Deeds. The filing of this notice creates a Commercial
PACE Lien against the property subject to the Commercial PACE Assessment until
the amounts due under the terms of the Commercial PACE Agreement are paid in
full. The notice must include the information required by the Commercial PACE
Act.

(e)​Priority. A Commercial PACE Lien secures payment for any unpaid Commercial
PACE Assessment and, together with all associated interest and penalties for
default and associated attorney's fees and collection costs, takes precedence
over all other liens or encumbrances except a lien for real property taxes of
the municipality and liens of municipal sewer, sanitary and water districts.
From the date of recording, a Commercial PACE Lien is a priority lien against a
property, except that the priority of such a Commercial PACE Lien over any
​ SOUTH PORTLAND CODE

lien, except a lien for real property taxes of the City or a lien of a
municipal sewer, sanitary or water district, that existed prior to the
Commercial PACE Lien is subject to the written consent of such existing
lienholder.