Ordinance 2022-586 - Laserfiche WebLink

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that actual savings will depend on usage patterns, seasonal variation and weather, utility rates and trends and product specifications; (d) The three-day right to cancel the PACE Financing Agreement; (e) Identification of prepayment fees or penalties; (f) The PACE Assessment will appear on the propertV owner's tax bill; (g) There is no discount or penalty for paying the PACE Assessment early; (h) The PACE Assessment will be collected in the same manner as real estate taxes; that failure to pay the PACE Assessment may cause a tax certificate to be issued against the propertV; and that failure to pay may result in the loss of property subject to the PACE Assessment, including homestead property, in the same manner as failure to pay property taxes; (i) The installation of Qualifying Improvements may or may not affect the overall market value of the Property; (11 The PACE Assessment may affect the sale or refinance of the Property; (k) The propertV owner may be required to pay any PACE assessment in full at the time of refinance or sale of the property; (1) If the property owner is using an escrow or impound account to pay property taxes, he/she should contact his/her lender immediately to ensure that the escrow payments are adjusted correctly so that the property owner is aware of and prepared for the increased payment amount; and (m) The notice shall be signed and dated by the propertV owner to acknowledge that they understand these conditions. Subsection (6)(c) above may be provided in a separate document without propertV owner signature if necessary. If the PACE Local Government does not currently have the ability to include subsection (6)(c) above, it should modify its procedures in order to comply within one year of the effective date of its PACE Interlocal Agreement. The consumer notice described in this section must be delivered to the property owner by the program administrator and must be signed and dated by the property owner prior to or contemporaneously with the property owner's signing of any legally enforceable documents under the PACE program. Confirmation of Terms: PACE Local Governments must confirm, by telephone with the propertV owner, each Program financing term listed below before the propertV owner signs the PACE Financing Agreement. Such telephonic confirmation shall be recorded. A voicemail shall not satisfy this requirement. When confirming terms of a Program Financing Agreement with a homeowner, the Program Administrator will request the property owner to describe the Qualifying Improvements being financed using the Program financing, and will ascertain that the propertV owner understands or acknowledges the following: (a) The Qualifying Improvements being installed are financed by the Program; (b) The total estimated annual payment, including estimated annual collection costs; (c) The date the first tax payment will be due; (d) The term of the Program financing; (e) The payments will be made through the property owner's property taxes and paid either directly to the county tax collector's office or through his or her mortgage impound account; @BCL@B80CDC07.docx Page 10 of 13 66