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(1) Immediately upon default of the borrower, but no later than prior to recording a notice of default with the Jackson County Clerk’s Office, a lender shall perform an inspection of the property that is the security for the real estate loan agreement.

(2) If the property is found to be vacant or shows evidence of vacancy, the lender shall, within ten (10) days of the inspection, register the property with the Chief of Police or his designee.

(3) If the property is occupied but remains in default, the property shall be inspected by the lender on a monthly basis until the borrower remedies the default. If an inspection reveals that the property is vacant or shows evidence of vacancy, the lender shall, within ten (10) days of the inspection, register the property with the Chief of Police or his designee.

(4) This ordinance also applies to properties that have been the subject of a foreclosure sale where title has transferred from one lender to another lender; and a property transferred under a deed in lieu of foreclosure.

[Added Sec. 3, Ord. No. 2009-204, Sep. 17, 2009.]