BIL 159 Draft 01 2010-2012 - Laserfiche WebLink

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(d) In the event that the guaranteed borrower is a corporation or is an owner holding property in a trust, then the County of Hawai`i [shall] may initiate foreclosure proceedings immediately upon default by the owner and payment of the loan by the County of Hawai`i. the death of the guaranteed borrower, or the sale, exchange, transfer, forced sale of the property, or termination of a trust created pursuant to chapter 558, Hawai`i amounts owed to the County of Hawai`i. eety, then upon the d th of the surviving spouse, or the sale, exchange, concerning any amounts owed to the County of Hawai`i.] SECTION 6. Chapter 21, Article 5, Section 21 -43 of the Hawai`i County Code 1983 (2005 edition), is amended to read as follows: (a) Where an owner is unable to obtain a guaranteed loan from any designated bank, the County of Hawai`i shall contract with the contractor selected and approved pursuant to this article to connect the nonqualifying applicant's premises to the sewer. The applicant shall execute an agreement with the County of Hawai`i giving the County of Hawai`i a lien on the property. This agreement shall be identical to those executed between the County of Hawai`i and the qualified, guaFanteed-beFFewer-s, (b) Upon connection of the nonqualifying applicant's premises to the sewer, the a default on the loan. SECTION 7. Chapter 21, Article 5, Section 21 -44 of the Hawai`i County Code 1983 (2005 edition), is amended to read as follows: Section 21 - _{44]. Waiver of liability. The contractor selected pursuant to this article, as well as the guaranteed borrower shall execute agreements with the County of Hawai`i in which each of them agrees to defend, indemnify and hold harmless the County of Hawai`i in the event of any personal injury or property damage resulting from the connection of the property to the sewer. SECTION 8. Chapter 21, Article 5, Section 21 -45 of the Hawai`i County Code 1983 (2005 edition), is amended to read as follows: Section 21- _[45]. Reserve fund. 5