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benefitted to the extent of the assessment set forth. The Finance <br />Officer shall give notice of the assessments to the owners of the <br />assessed parcels and lots advising them the assessment may be paid <br />in full, without interest, within ten days of the effective date of <br />this ordinance. Assessments that remain unpaid after the ten-day <br />period are declared to be liens upon the respective lots or parcels <br />of land against which said several amounts are assessed, and may be <br />paid, with interest on the unpaid principal amount commencing ten <br />days after the adoption of this ordinance: <br />4.1 In up to twenty semi-annual installments, including <br />principal and interest at the rate set by the City Manager as <br />provided in E. C. 2.022 through 2.024; or <br />4.2 If the property owner so elects, in l20 monthly install- <br />menu, including principal and interest at the rate set by the City <br />Manager as provided in E. C. 2.022 through 2.024 plus a service <br />charge to be determined by the City Manager as provided in E. C. <br />2.020. <br />,Sec~ion,5. The parcels and lots herein assessed are also <br />obligated to pay a development charge for local and regional <br />sewerage facilities under E. C. 7.705. If the local and regional <br />development charge is unpaid at the time the notice required by <br />Section 4 of this ordinance is sent, the local and regional <br />XSU ORDINANCE - Page 6 <br />