NRS 271.410 Acceleration upon delinquency.
116 words·~1 min read·
/nv/chapter-271-local-improvements/271-410A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
NRS 271.410 Acceleration upon delinquency.
1. Failure to pay any installment, whether principal or interest, when due shall ipso facto cause the whole amount of the unpaid principal to become due and payable immediately at the option of the municipality, the exercise of such option to be indicated by the commencement of foreclosure proceedings.
2. At any time prior to the day of sale, the owner may pay the amount of delinquent installments, with accrued interest, all penalties, and costs of collection accrued, including but not necessarily limited to any attorney’s fees, and shall thereupon be restored to the right thereafter to pay in installments in the same manner as if default had not been made.