326-6.3. Real Property Liens.
(a) The Director of Public Works shall have the discretion to accept or reject liens upon real property offered as good and sufficient subdivision security. (Ord. 1365, § 3, 11/6/1979)
(b) In considering offered liens, the Director of Public Works may consider any factor he finds relevant and may require the subdivider to submit such information he deems necessary. (Ord. 1365, § 3, 11/6/1979)
(c) An application to the Director of Public Works shall contain the following: (Ord. 1365, § 3, 11/06/79)
(1) A current appraisal prepared by an independent appraiser commonly accepted by financial institutions or a certified copy of the Humboldt County Assessor’s appraisal. (Ord. 1365, § 3, 11/6/1979)
(2) A current preliminary title report. (Ord. 1365, § 3, 11/6/1979)
(3) A current credit report. (Ord. 1365, § 3, 11/6/1979)
(4) A contract for the installation of the subdivision improvements unless the subdivider is licensed to perform such work. (Ord. 1365, § 3, 11/6/1979)
(5) A loan commitment or other source of funding the construction. (Ord. 1365, § 3, 11/6/1979)
(6) Two (2) copies of the tentative map and letter of approval. (Ord. 1365, § 3, 11/6/1979)
(7) An application fee in the amount set by resolution of the Board of Supervisors. (Ord. 1365, § 3, 11/6/1979)
(d) Subdivision real property liens shall be senior to all other liens and shall not exceed seventy percent (70%) of the appraised unsubdivided value of the property. (Ord. 1365, § 3, 11/6/1979)
(e) Upon approval, an escrow shall be opened providing for the preparation of the deed of trust, issuance of a standard form title policy in favor of the County of Humboldt in the amount of the lien, closure of escrow within forty-five (45) days and payment of all escrow cost fees and expenses by the subdivider. (Ord. 1365, § 3, 11/6/1979)
(f) The Director of Public Works may grant partial releases as long as the sufficient security remains to cover uncompleted improvements. (Ord. 1365, § 3, 11/6/1979)