R362-5-9. Voluntary Energy Assessment Lien Procedures

  (1) The third-party lender prepares documents for closing the financial transaction with the property owner.

  (a) The property owner and third-party lender enter into a financing agreement that contains the financing terms and conditions that govern the transaction.

  (2) The third-party lender provides the information and documentation required to designate a voluntary energy assessment area, levy an energy assessment, and assign the energy assessment lien, to OED and its third party delegate.

  (a) Notices shall include the financing agreement and exhibits, including the energy assessment lien repayment schedule.

  (3) OED shall designate to the third-party lender its authority to transmit to the Governing Body Clerk and Recorder, or its equivalent, the documentation required for recording the voluntary energy assessment lien on the real property.

  (a) After recording the energy assessment lien, the Governing Body Clerk and Recorder, or its equivalent, files a copy of the energy assessment lien with the Governing Body Assessor and coordinates with the third-party lender to assign the energy assessment lien to the third-party lender.