Utah Admin. Code 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.
Notes
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