Pursuant to the provisions of MGL c. 60, § 62A, the Treasurer
of the Town of Randolph ("Town") may enter into a written payment
agreement ("Agreement") with any person(s) entitled to redeem ownership
of parcels of real estate ("Redeemer") which have been taken by the
Town as a result of non-payment of real estate taxes. The Agreement
shall be executed by the Town and Redeemer and shall set forth the
terms and conditions for payment of the delinquent taxes interest
and any other costs, fees or charges associated with same.
The Redeemer of the following assessment categories of real property
shall be eligible to enter into an Agreement provided for in the preceding
paragraph:
The Redeemer, at the time of execution of said Agreement, must pay
to the Town a minimum of twenty-five percent (25%) of the amount due
to redeem the Parcel. The Redeemer must then agree to pay the remaining
balance due to the Town in no more than sixty (60) equal installments
over a period not to exceed five (5) years, with one (1) installment
payment due each month.
After the Town has received the initial installment and forty-eight
(48) additional installment payments pursuant to the Agreement, the
Redeemer shall be entitled to a credit equal to fifty percent (50%)
of the accrued interest on the delinquent tax amount. This credit
shall be applied against the final twelve (12) installments due under
the Agreement. The Redeemer shall be permitted to pre-pay any installment
payment due under the Agreement at any time.
During the term of the Agreement, the Treasurer may not bring an
action to foreclose the tax title of the Redeemer unless payments
are not made in accordance with the schedule provided in the Agreement
or timely payments are not made on other amounts due to the municipality
that are a lien on the same parcel.