Ord 1973-033 - Laserfiche WebLink

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I I I 00-11 SECTION 5. The assessments levied in Section 4 above are for a portion of the costs of said improvements in the streets and Units therein set out which are included in said Ordinance enacted May 29, 1973, and the assessments for the improvements in said Units are in nowise related to, or connected with, the improvements or assessments in any other of the streets or Units described in said ordinance; and in levying said asseSS- ments the amount so assessed for the improvements in said Units have been in nowise affected by any fact or thing in any way connected with the improvements or the assessments therefor in any other of said Units. The omission of the improvements in any of said streets or Units as a whole shall in nowise affect nor impair the validity of the assessments in any other of said Units and the omission of the improvements in any particular street or Unit in front of any parcel of property exempt from the lien of such assessments, or against which a valid property assessment cannot be levied, shall in nowise affect nor impair the validity of the assessments against the other properties in such Unit. SECTION 6. The several sums mentioned above in Section 4 hereof, ~~ed against said parcels of abutting property and the real and true owner or owners thereof, whether said owners be named or correctly named, or said properties be correctly described herein or not, together with interest thereon at the rate of eight per cent (8%) per annum and with reasonable attorney's fees and all costs and expense of collection, if incurred, are hereby declared to be and made a first and prior lien upon the respective parcels of property against which same are assessed from and after the date said improvements were ordered by said City Council, and a personal liability and charge against the real and true owner or owners thereof, whether or not such owner or owners be named or correctly named herein, paramount and superior to all other liens, claims or titles except for lawful ad valorem taxes: and that the sums so assessed shall be payable to the City of San Marcos, Texas, or its assigns as follows, to-wit: in three (3) equal (or as nearly equal as possible) installments as follows: the first of said installments shall be due and payable on or before thirty (30) days from the daTe of the completion of such improvements and their acceptance by the City, and the two remaining installments shall be due and payable one and two years from the date of the completion of the improvements and their acceptance by the City. Interest on each assessment shall run on the unpaid principal balance from the date of accept- ance of the improvements by the City until maturity or due date of each installment at the rate of eight per cent (8%) per annum, which interest shall be payable at the time the principal instal- lments become due as above set out (or at the time of payment of such installments in the event of prepayment), provided, however, that after the maturity of an installment of principal or interest, unpaid matured principal and interest, either or both (if any) shall bear interest after maturity at the rate of ten per cent (10%) per annum. Any such installment may be paid at any time before maturity by the payment of the principal and accrued interest thereon. If default is made in the payment of any installment of principal or interest when due, then at the option of the City, the entire principal amount of such assessment, together with accrued interest, shall be and become immediately due and payable, together with reasonable attorney's fees and costs of collection, if incurred.