The definitions set forth in this section shall govern the application and interpretation of this section.
"Abandoned"means a property, including a residence, building, or structure, or any structural improvement on real property, that is vacant and is (1) under a current notice of default and/or notice of trustee's sale; (2) subject to foreclosure sale where title was retained by the beneficiary of a deed of trust, or (3) transferred under a deed in-lieu of foreclosure/sale.
"Beneficiary"means a lender under a note secured by a deed of trust.
"Deed in-lieu of foreclosure/sale"means recorded document that transfers ownership of real property from the trustor to the holder of the deed of trust upon consent of the beneficiary of the deed of trust.
"Deed of trust"means an instrument by which title to real property is transferred to a third party trustee as security for a real estate loan. This definition applies to any and all subsequent deeds of trusts.
"Default"means the failure to comply or fulfill any contractual obligation under the deed of trust.
"Director"means the director of planning and development services, or designee, or such other director designated by the city administrator to administer this section.
"Foreclosure"means the process by which real property, placed as security for a real estate loan, is sold at an auction to satisfy the debt when the trustor (borrower) defaults on the real estate loan.
"Historic"means any building or structure that is listed on (1) the National Register of Historic Places; (2) the California Register of Historic Resources; or (3) deemed of importance to history, architecture or culture of the area by the City of Oroville.
"Notice of default"means a recorded notice that a default has occurred under a deed of trust and the beneficiary intends to proceed with a trustee's sale of the real property or asserts any of its rights under the deed of trust.
"Owner"means the owner of record of real property, or the occupant, lessee, or interest holder, as the case may be.
"Property"means any improved real property, or portion thereof, situated in the city and includes any residence, building, structure, or any other improvement located on the real property.
"Rehabilitation"means taking corrective action to meet the minimum standards set forth in this section and complying with any other applicable provisions of the Oroville Municipal Code so the property is not a public nuisance.
"Trustee"means any person, partnership, association, company, corporation, or any other person or entity holding a deed of trust on a property.
"Trustor"means a borrower under a deed of trust who deeds property to a trustee as security for the payment of a debt.
"Vacant"means a building or structure that is unoccupied or occupied by unauthorized persons for any amount of time.
(Ord. 1789 § 2)