1Amend Bill, page 1, line 7, by inserting after "conservator"

2, for incurring indebtedness

3Amend Bill, page 4, line 19, by inserting a bracket before
4"The"

5Amend Bill, page 4, lines 20 through 29, by striking out "[.] 
6or has been" in line 20 and all of lines 21 through 29 and
7inserting

8 .] The owner fails to present compelling evidence that he has 
9made a good faith effort, during the preceding 60-day period, to 
10sell the property at a price which reflects the circumstances 
11and market conditions.

12Amend Bill, page 4, line 30, by inserting a bracket before
13"building"

14Amend Bill, page 4, line 30, by inserting after "building"

15] property

16Amend Bill, page 4, line 30, by inserting a bracket before
17"an"

18Amend Bill, page 4, line 30, by inserting after "existing"

19] a pending

20Amend Bill, page 5, line 1, by inserting a bracket before the
21period after "action"

22Amend Bill, page 5, line 1, by inserting a bracket after
23"action."

1Amend Bill, page 5, lines 1 through 5, by striking out "For 
2the purposes of this paragraph" in line 1 and all of lines 2 
3through 5 and inserting

4 by an individual or nongovernmental entity.

5Amend Bill, page 5, line 22, by striking out ", if the 
6property is zoned commercial,"

7Amend Bill, page 6, line 29, by inserting after "the " where
8it occurs the first time

9most

10Amend Bill, page 6, line 29, by inserting after "senior "

11nongovernmental

12Amend Bill, page 8, lines 4 through 9, by striking out "After 
13a petition is filed, if the court proceeds" in line 4 and all of 
14lines 5 through 9 and inserting

15 A contract for sale entered into subsequent to the filing of a
16petition for conservatorship shall be subject to court approval
17and to reimbursement of costs incurred by the petitioner in
18preparing and filing the petition in accordance with the
19requirements of section 4.

20Amend Bill, page 8, line 16, by striking out "(b)(4)" and 
21inserting

22 (c)(1) and (5)

23Amend Bill, page 8, line 17, by striking out "and the section 
24is amended by adding a subsection "

25Amend Bill, page 9, lines 11 through 21, by striking out all
26of said lines and inserting

27(c) Hearing on conservator's final plan for abatement.--

28(1) At the time the court appoints a conservator, the 
29conservator may present and the court may approve the final 
30plan for abatement. If no plan is presented at that hearing,
31a hearing date on the conservator's final plan for abatement
32shall be set within 120 days of the appointment.

33* * *

34(5) At the time of the hearing, all parties shall be 
35allowed to comment on the plan, and the court shall take all
 

1comments into consideration when assessing the feasibility of 
2the plan and the proposed financing. In making its 
3assessment, the court shall give reasonable regard to the 
4conservator's determination of the scope and necessity of 
5work to be done for the rehabilitation or demolition of the 
6building in approving the final plan and in approving the 
7costs of conservatorship and sale of the property.

8Amend Bill, page 9, line 23, by striking out "Section" where 
9it occurs the second time and inserting

10 Sections 8(b) and (c) and

11Amend Bill, page 9, by inserting between lines 24 and 25

12Section 8. Incurring indebtedness.

13* * *

14(b) Liens.--In order to facilitate the borrowing of funds
15for the costs of rehabilitation, the court may grant priority 
16status to a lien [or security interest with priority over all
17other liens with the exception of municipal or other
18governmental liens, provided, however, that prior to granting a
19priority lien, the court has found that] given to secure payment 
20on a debt incurred for purposes authorized under this chapter 
21provided that:

22(1) [The] the conservator sought to obtain the necessary
23financing from the senior, nongovernmental lienholder, but
24the lienholder declined to provide financing for reasonable
25improvements or other costs of rehabilitation on reasonable
26terms[.]; and

27(2) [Lien] lien priority is necessary in order to induce
28another lender to provide financing on reasonable terms.

29[(c) Lien status of rehabilitation expenses.--Should the
30senior lienholder agree to provide financing for the costs of
31rehabilitation, any funds lent to cover the costs shall be
32deemed to be added to the senior lienholder's preexisting first
33lien.]

34* * *

35Amend Bill, page 10, lines 9 through 12, by striking out 
36"[Municipal] The principal on all State and municipal" in line 9 
37and all of lines 10 through 12 and inserting

38 [Municipal or other governmental liens.] Liens of the 
39Commonwealth, liens for unpaid property taxes and properly 
40recorded municipal liens.

41Amend Bill, page 10, lines 17 and 18, by striking out 
42"requesting the" in line 17 and all of line 18 and inserting

43 preparing and filing the petition in accordance with the

1requirements of section 4.

2Amend Bill, page 10, line 26, by inserting a bracket before
3"(8)"

4Amend Bill, page 10, line 27, by inserting a bracket after
5"conservatorship."