Release and discharge of energy assessment lien -- Notice of dissolution of energy assessment area

(1) (a) Upon payment in full of an assessment on a parcel of property, the local entity or third-party lender, in the event the local entity has assigned the energy assessment lien to the third-party lender, shall file a release and discharge of the energy assessment lien on the property in the office of the recorder of the county where the property is located. (b) The local entity or third-party lender shall ensure that each release and discharge under Subsection (1)(a): (i) includes a legal description of the affected property; and (ii) complies with other applicable requirements for recording a document. (2) (a) Upon payment in full of all assessments levied within an energy assessment area, or upon providing for payment in full, the local entity or third-party lender, in the event the local entity has assigned the energy assessment lien to the third-party lender, shall file a notice of the dissolution of the energy assessment area in the office of the recorder of the county where the property within the energy assessment area is located. (b) The local entity or third-party lender shall ensure that each notice under Subsection (2)(a): (i) includes a legal description of the property assessed within the energy assessment area; and (ii) complies with all other applicable requirements for recording a document.