(1) Before the execution of a PACE program assessment contract, the owner of eligible property shall obtain and furnish to the governmental entity or program administrator a written statement executed and acknowledged by an authorized officer of each holder of a mortgage or deed of trust securing indebtedness on the eligible property, in the authorized officer's sole and absolute discretion:(1) Consenting to the PACE special assessment; and(2) Indicating that the special assessment does not constitute an event of default under the mortgage or deed of trust.
(1) Consenting to the PACE special assessment; and
(2) Indicating that the special assessment does not constitute an event of default under the mortgage or deed of trust.