A. At least 60 days prior to the filing of an application for appointment of a receiver, the Director shall cause a notice to be sent by regular mail to all interested parties.
B. The notice shall give the date upon which the City has the right to file with the court for the receiver, and in addition shall:
1. State the address and legal description of the property;
2. List the code violations which give rise to the proposed application; and
3. Give the name, address and telephone number of a person who can provide additional information concerning the violations and their remedy.
C. If no interested party has taken any action to foreclose their security interest within 60 days of the date of the notice, the Director may thereafter apply for the appointment of a receiver.