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Improvement Hearings <br />Page 3 <br />3. The owner will make application for deferred payment of <br />sr vial assessments on forms prescribed by the Ramsey <br />County Auditor and will make application to the City <br />of Little Canada on forms provided by the City. <br />4. The application for said deferment must be filed with <br />the City prior to the adoption by the City of the <br />resolution adopting the assessment roll. <br />5. The City Council will consider each application on <br />an individual basis. However, the Council's general <br />policy is to grant special assessment deferments when <br />the property owner has filed an affidavit with the City <br />stating that the annual payment for the special assessment <br />exceeds two percent of the adjusted gross income of the <br />owner as determined by the most recent Federal tax return. <br />6. The deferment shall terminate and all amounts accumulated, <br />plus applicable interest, shall become due, if any of the <br />following occur: <br />a. The death of the owner, provided that the spouse <br />is otherwise not eligible for the benefits here- <br />under; <br />b. The sale, transfer or subdivision of the property <br />or any part thereof; <br />c. If the property for any reason loses its homestead <br />status; or <br />d. If for any reason the City Council determines that <br />there would be no hardship to require immediate <br />or partial payment. <br />7. Upon termination of the deferment, the Council, at its <br />discretion, may provide for installment payments of the <br />deferred assessment within the term of the original <br />assessment. <br />8. Deferments shall be reviewed every five years by the <br />City Council. <br />Joseph G. Chlebeck <br />Clerk <br />