RSA 53-F Energy Efficiency and Clean Energy Districts
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Change 1
53-F:5 Eligibility of Property Owners.
I. A municipality may enter into an agreement under this chapter only with the legal owner of eligible property. II. Prior to entering into an agreement with an owner of eligible property, the municipality shall determine that all property taxes and any other assessments levied with property taxes are current and that there are no involuntary liens such as mechanic's liens on the property in excess of $10,000 and which are not removed at the time of the close of the financing transaction. II-a. A property may be eligible for financing if otherwise qualified improvements were completed and operational no more than 36 months prior to submission of the application to the program administrator. Waivers to the 36-month requirement may be granted in the sole discretion of the program administrator. III. Each mortgagee or lienholder shall have the right to determine in its sole discretion whether or not it will consent to such financing. The consents shall be in writing and recorded with the notice of assessment in the registry of deeds. The legal effect of having all consents shall be that the municipal lien shall not be extinguished in the event of a foreclosure or tax foreclosure or sheriff's sale by the mortgagee or lienholder as provided in RSA 53-F:8. Further, any provision of a deed of trust, mortgage, or any other agreement between a consenting lienholder and a property owner providing for the acceleration of any payment under the deed of trust, mortgage, or agreement solely as the result of entering into an agreement to finance an assessment is not enforceable; however, a holder or loan servicer may increase the monthly amount held in escrow as may be required to annually pay the assessment and the mortgage holder shall remit such amounts in the manner that property taxes are escrowed and remitted. IV. The term of repayment shall not exceed 30 years. Source. 2010, 215:2, eff. Aug. 27, 2010. 2014, 294:4, eff. Sept. 30, 2014. 2015, 121:4, eff. June 8, 2015. 2025, 1:5, eff. March 10, 2025.
53-F:5 Eligibility of Property Owners.
I. A municipality may enter into an agreement under this chapter only with the legal owner of eligible property. II. Prior to entering into an agreement with an owner of eligible property, the municipality shall determine that all property taxes and any other assessments levied with property taxes are current and that there are no involuntary liens such as mechanic's liens on the property in excess of $10,000 and which are not removed at the time of the close of the financing transaction. II-a. A property may be eligible for financing if otherwise qualified improvements were completed and operational no more than 36 months prior to submission of the application to the program administrator. Waivers to the 36-month requirement may be granted in the sole discretion of the program administrator. III. Each mortgagee or lienholder shall have the right to determine in its sole discretion whether or not it will consent to such financing. The consents shall be in writing and recorded with the notice of assessment in the registry of deeds. The legal effect of having all consents shall be that the municipal lien shall not be extinguished in the event of a foreclosure or tax foreclosure or sheriff's sale by the mortgagee or lienholder as provided in RSA 53-F:8. Further, any provision of a deed of trust, mortgage, or any other agreement between a consenting lienholder and a property owner providing for the acceleration of any payment under the deed of trust, mortgage, or agreement solely as the result of entering into an agreement to finance an assessment is not enforceable; however, a holder or loan servicer may increase the monthly amount held in escrow as may be required to annually pay the assessment and the mortgage holder shall remit such amounts in the manner that property taxes are escrowed and remitted. IV. The term of repayment shall not exceed 30 years. Source. 2010, 215:2, eff. Aug. 27, 2010. 2014, 294:4, eff. Sept. 30, 2014. 2015, 121:4, eff. June 8, 2015. 2025, 1:5, eff. March 10, 2025.
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