The finance officer shall make available to interested persons upon request information regarding eligibility for deferral, modification, or extension of assessment payments. An eligible real property owner who requests such a deferral, extension, or modification shall submit evidence of eligibility on forms provided by the finance officer. After review of the evidence submitted, the finance officer shall notify the applicant whether the request has been granted. If it has, the applicant shall enter into a contract to pay the assessment in accordance with the terms of the deferral, extension, or modification. The contract shall be on a form approved by the city attorney, and may be recorded in the official records of Lane County, Oregon.