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<br /><* <br /> <br />~ <br />437 <br /> <br />----..- - -- <br /><"< <br /> <br />- --- ~----:-:'---- .-::--:- ----- -:--~~ ~-----:--,----~ '-~-_--:------:-:---:-------:-:_~----:~-~:~..---~-:--_:-:::-_----:: '.---~- ~--~--~~--~--~--~-~-~~_:- <br /> <br />I <br /> <br />Committee on the ForecloBure program, and the City Attorney made one correction. <br />The recommendation as c0~rected was unanimously adopted by the Council, and the <br />City Recorder and CityrrTreasurer were ordered to proceed at once. <br /> <br />"To: <br /> <br />..~ <br />~J <br /> <br />" ~'""" <br /> <br />City Recorder and <br />City Treasurer <br /> <br />From: <br /> <br />The Common Council of Eugene. <br /> <br />------ <br /> <br />Subject: <br /> <br />Lien Foreclosures. <br /> <br />. <br /> <br />You are hereby authorized and directed to proceed at once with the foreclosur <br /> <br />of delinquent lienssin the following manner: <br /> <br />1. The Treasurer's Office will prepare a list of lee liens being most <br />delinquent in point of time. <br /> <br />2. A copy of such list will be delivered to an abstract company, chosen by <br />this Council, which abstract company will prepare and deliver to the Treasurer a <br />statement showing the names of the present record owners and mortgagees of the <br />property covered by such liens. <br /> <br />3. The Treasurer will deliver this corrected list to the Recorder who will <br />prepare a warrant authorizing the Treasurer to sell, according to' law, the <br />properties to be foreclosed, and the Recorder will make a copy of such warrant in <br />the Recorder's Foreclosure Record Book. <br /> <br />I <br /> <br />4. Notices of intended foreclosure will be sent by mail to each record <br />owner and mortgagee by the Treasurer's Office, and such notices will include a <br />statement that the property of such owner or mortgagee will be foreclosed after <br />twenty days. from the date of such notice. <br /> <br />(At this point of the proceedings, the Treasurer will prepare a list of the <br />next 100 oldest liens and commence proceedings thereon, in order that the pro- <br />ceedings will be continuous until all delinquencies have been proceeded against in <br />the shortest time possible). <br /> <br />During the twenty day period after the sending out of notices, owners' and <br />mor~gagees may arrange for discontinuance of foreclosure proceedings as follows: <br /> <br />. <br /> <br />a. By rebonding under the Bancroft Law. <br />b. By agreeing upon an installment payment program as follows: <br /> <br />1. By paying down not less than 10% of the principal <br />amount of lien plus accrued interest to date. <br />2. Pay in monthly installments thereafter not less <br />than 2% monthly of such principal amount plus <br />accrued interest. <br />3. Pay interest on unpaid balance of lien semi-annually. <br />4. Pay sufficient taxes as not to be subject to foreclosure. <br /> <br />All such payments to apply first, to the interest <br />accrued; and second, to unpaid principal. <br /> <br />At such time as the delinquent interest becomes <br />paid in full, such owner may rebond under the <br />provisions of the Bancroft Law, if the other <br />provisions thereof are met. <br /> <br />I <br /> <br />c. If the record owner or owners cannot or will not pay in accordance <br />with the forecgoing provisions, the City will accept a quit claim <br />deed from such owner and will agree that such owner may redeem <br />within one year upon payment of all amounts then due. <br /> <br />In all cases where the foregoing offers fail you will proueed as follows: <br /> <br />5. Proceed with advertisement of sale in legal form. <br /> <br />6. Treasurer will hold sale in accordance with law. <br /> <br />7. the Treasurer will file his certificate of proceedings with the <br />Recorder. <br /> <br />. <br /> <br />..olllIl <br />