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deferred asse~ sments. Interest shall cease to accrue on the date <br />when the~aSse~ sment would have been paid in full had it not been <br />deferred. ~ Th~ maximum amount due on the assessment will then be <br />the original a~ssessment plus interest accrued during the original <br />assessmeut~ te~m. <br /> <br />Subdivisio~ 4, Termination of Right to Deferred Payment. The <br />option to ~efe~r the payment of special assessments shall <br />terminate ..and iall amounts accumulated plus applicable interest <br />shall become due upon the occurrence of any of the following <br />events: (~) ithe death of the owner, provided that the spouse is <br />otherwise, ~ot ieligible for the benefits of this Section; (b) the <br />sale, tran~fe~ or subdivision of the property or any part <br />thereof; (~) !if the property should for any reason lose its <br />homestead' ~tat~s; or (d) if for any reason the City Council <br />shall det~e~min% that there would be no hardship to require <br />immediate ~r p~rtial payment. <br /> <br />Subdivisiom 5.i Standards and Guidelines for Determinin_~ the <br />Existencm; ~f a~ Hardship and a Disability. <br /> <br />A. A hardSihipi shall be deemed prima facie to exist when all of <br /> the following apply: <br /> <br /> a. The ~annUal gross income of the applicant according to his <br />most recem~i fe4eral income tax return plus his tax-exempt income <br />does not ~e~eed $12,000.00. If no such return was made, the <br />Clerk sha!lilre4uire the applicant to submit other pertinent <br />information! to!show that this qualification is met. <br /> <br />b. The special assessments to be deferred exceed 4300.00. <br /> <br />Notwithst~n~in~ the foregoing provisions of this subdivision, the <br />City Counc. i~ may consider exceptional and unusual circumstances <br />pertainin~ ~o ~n applicant not covered by the above standards; <br />but any d~t,~rm~nation shall be made in a nondiscriminatory manner <br />and shall :n~t ~ive the applicant an unreasonable preference or <br />advantage oger 'other applicants. <br /> <br />B. Retirement by reason of permanent and total disability shall <br />be deemed p~im~ facia to exist when the applicant presents a <br />sworn affidavit! by two (2) licensed medical doctors attesting <br />that the a~licant is unable to be gainfully employed because of <br />a permanent.andi total disability. <br />im, tovm . zs <br /> <br />Subdivisio~l. i Cancellation of Assessments. When a local <br />improvementi!proposed to be made by the City is abandoned before <br />it is comp~tedlto an extent sufficient to result in benefits <br />equal to specie~ assessments which have theretofore been levied <br />for such improvement, the City shall notify the agency acting as <br />collectin$1agent for such special assessment, of such fact. Upon <br />such notificStien, all installments of such assessments and <br /> <br /> <br />