What happens if you miss an installment payment

A. In case of default in the payment of any installment of principal and interest when due, the director of finance shall within ninety days after such default commence to advertise, and thereafter with due diligence to sell the property concerning which default is made for the whole of the unpaid principal, accrued interest thereon, penalty interests as provided in section 14.50.150 and costs. The purchaser of such property shall be permitted, if he elects to do so, to pay in cash the total amount of the delinquent installment or installments, plus the penalty interest and costs, and thereafter pay the balance by paying the remaining annual installments payable on the unpaid assessment as same become due, in which event the lien of the unpaid assessment shall remain in full force and effect until final payment of the unpaid assessment. Such advertisement and sale shall be made by the director of finance in the same manner, under the same conditions and penalties, and with the same effect as provided by general law for sales of real property for default in payment of property taxes. B. In the event of the failure of the director of finance to so commence and diligently complete advertisement and sale of property pursuant to the provisions of this section, the director of finance shall not be personally liable for such failure, but if a default exists in payment of principal or interest upon bonds issued to represent an unpaid assessment or assessments for which any such installment of principal and interest is in default, or if the levy provided for by section 14.52.080 has been made or it appears probable that same will be required to be made, the holder or holders of such bonds, in the former case, and any person or persons who are owners or lessees of land subject to such levy and liable to pay same, in the latter case, shall have the right to enforce performance of the duties of the director of finance hereunder by mandamus, pursuant to the provisions of sections 659-1 through 659-9 of the Hawaiʻi Revised Statutes. (Ord. 801 § 1 (part), 1974: prior code § 25-7.6)