Whenever any special assessments and/or real property taxes are deferred under
the provisions of this chapter, the amount deferred, including interest, shall
become a lien in favor of the state upon this property and shall have priority
as provided in chapters 35.50 and 84.60 RCW except as provided in subsection
(2) If any residence is
under mortgage, deed of trust or purchase contract whereby the explicit wording
or terms of the mortgage, deed of trust or purchase contract requires the
accumulation of reserves out of which the holder of the mortgage, deed of
trust, or purchase contract is required to pay real property taxes, said holder
or his authorized agent shall cosign the declaration to defer either before a
notary public or the county assessor or his deputy in the county in which the
real property is located.
interest of any party required to cosign a declaration to defer under
subsection (2) of this section shall have priority to the lien established in
subsection (1) of this section.