KRS 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

the assessment against him and enter into an agreement in writing with the road

district that, in consideration of such privilege, he will make no objection to any

illegality or irregularity in the assessment, levy or imposition of the assessment

against his property. Any property owner entering into such an agreement shall be

concluded the reby and shall waive any defense which he might otherwise have

against the payment of the assessment levied against his property. Said agreement

shall be filed and recorded among the records of the board of directors of the road

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

plan, the remaining installments sha ll be due and payable one (1) each year on the

anniversary of the last day of the thirty (30) day period for executing the installment

payment agreement, together with interest as herein provided for nine (9) years.