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Subd. 4. The option to defer the payment of special assessments shall terminate and all amounts <br />accumulated plus applicable interest shall become due upon the occurrence of any one of the <br />following: <br />1. The death of the owner when there is no spouse who is eligible for deferment. <br />2. The sale, transfer or subdivision of all or any part of the property. <br />3. Loss of homestead status on the property. <br />4. Determination by the Council for any reason that immediate or partial payment would impose <br />no hardship. <br />State Law References(s): Minn. Stat. § 435.193, Senior Citizens or retired & disabled persons <br />hardship special assessment deferral. <br />13 <br />