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<br />satisfaction of the Council, that full repayment of the deferred special assessment would cause the <br />applicant particular undue financial hardship, the Council may order that the applicant pay within sixty <br />days a sum equal to the number of installments of deferred special assessments outstanding and unpaid to <br />date (including principal and interest) with the balance thereafter paid according to the terms and condi- <br />tions of the original special assessment. <br /> <br />D. The option to defer the payment of special assessments shall terminate and all amounts <br />accumulated plus applicable interest shall become due upon the occurrence of anyone of the following: <br /> <br />1. The death of the owner when there is no spouse who is eligible for deferment. <br /> <br />2. The sale, transfer or subdivision of all or any part of the property. <br /> <br />3. Loss of homestead status on the property. <br /> <br />4. Determination by the Council for any reason that there would be no hardship to <br />require inunediate or partial payment. <br /> <br />Section 2. Effective Date. This ordinance shall be effective immediately upon its passage <br />and publication according to law. <br /> <br />ADOPTED this _ day of April, 2008 by the City Council of the City of Centerville. <br /> <br />Mary Capra, Mayor <br /> <br />Attest: <br />Teresa Bender, City Clerk <br />