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4. Where a complete sewer replacement or a partial sewer replacement is undertaken by the City on behalf of the owner, the Owner shall pay to the City the Owner’s cost of replacement in accordance with Part B Section 5 (i) or (ii).
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5. Before any work is done, the Owner shall agree to pay the Owner’s cost of replacement by either:
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Paying in full within 30 days of the date of the invoice, the amount specified as the Owner’s cost of replacement shown on the invoice sent to the Owner by the City, or
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Paying in full by way of 5 equal annual installments the Owner’s cost of replacement plus interest calculated at the rate of prime rate plus l% established as of the date the sewer connection replacement cost is determined by the City, to be calculated annually in advance, plus registration costs, hereinafter called the Owner’s amortized cost of replacement.
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6. In the event that the Owner elects to pay the Owner’s amortized cost of replacement as per Part B Section 5 (ii), then the Owner shall enter into an agreement with the City confirming:
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The Owner’s election to pay the Owners amortized cost of replacement.
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The Owner’s authorization to the City to add the Owners amortized cost of replacement to the Owner’s property taxes, and to collect the same as property taxes.
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The Owner’s agreement to pay the Owner’s amortized cost of replacement as part of the Owner’s property taxes.
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The Owner’s agreement that the Owner’s amortized cost of replacement constitutes a lien against the Owner’s real property until such time as the Owner’s amortized cost of replacement has been paid in full.
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That this agreement may be registered against the title of the Owner’s property.”
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7. Subject to the provisions of this By-law, as amended, the Chief Administrative Officer and the City Clerk are hereby authorized and directed to execute, from time to time, agreements with the Owners for the payment, by the Owners to the City, of the costs to replace the sewer connections to properties in Windsor.
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8. The Owner may provide a complete sewer replacement and still be entitled to a sewer replacement rebate as follows:
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The sewer replacement rebate payable to an Owner shall be payable after providing evidence of a paid invoice from a Contractor working from a permit issued under By-law 25-2010 for the complete sewer replacement and a request by the Owner for reimbursement.
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