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184.150 Agreements for payment on ten-year plan -- When payments due.

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184.150 Agreements for payment on ten-year plan -- When payments due. (1) Any property owner who desires to exercise the privilege of payment by installment shall, before the expiration of said thirty (30) days, pay in cash one-tenth (1/10) of <br>the assessment against him and enter into an agreement in writing with the road <br>district that, in consideration of such privilege, he will make no objection to any <br>illegality or irregularity in the assessment, levy or imposition of the assessment <br>against his property. Any property owner entering into such an agreement shall be <br>concluded thereby and shall waive any defense which he might otherwise have <br>against the payment of the assessment levied against his property. Said agreement <br>shall be filed and recorded among the records of the board of directors of the road <br>district, and shall be binding upon any successor in title to the property. (2) After the first payment of one-tenth (1/10) of the assessment shall have been made in cash at the time the property owner elects to pay the balance on the installment <br>plan, the remaining installments shall be due and payable one (1) each year on the <br>anniversary of the last day of the thirty (30) day period for executing the installment <br>payment agreement, together with interest as herein provided for nine (9) years. History: Created 1942 Ky. Acts ch. 65, sec. 15.