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vacant or occupied, that is encumbered by a mortgage in default, is subject to an ongoing foreclosure action by the mortgagee or trustee, is subject to an application for a tax deed or pending tax assessor's lien sale, or has been the subject of a foreclosure sale where the title was transferred to the beneficiary of a mortgage involved in the foreclosure and any properties transferred under a deed in lieu of foreclosure/sale. "Registrable property" shall also refer to vacant property, whether residential, commercial, industrial or historic, subject to the property registration guidelines discussed below. The designation of a "default/foreclosure" property as "registrable" shall remain in place until such time as the property is sold to a non-related bona fide purchaser in an arm's length transaction or the foreclosure action has been dismissed and any default on the mortgage has been cured. "Residential building" means any improved real property, or portion thereof, designed or permitted to be used for dwelling purposes, including buildings and structures located on such improved real property. This includes any real property being offered under any circumstances for sale, trade, transfer, or exchange as "residential,"whether or not said property is legally permitted and zoned for such use. "Secure" means such measures as may be directed by an enforcement official that assist in rendering real property inaccessible to unauthorized persons, including but not limited to repairing fences and walls, chaining/pad locking gates, the repairing or boarding of doors, windows or other openings. Such measures shall be implemented in conformance with all applicable standards of the United States Department of Housing and Urban Development. "Tax assessor's lien sale" means the sale, conducted by the Assessor of Orange County, of tax liens for delinquent taxes on the property. "Trustee" means any person, partnership, association, corporation, fiduciary or other legal entity holding a deed of trust securing an interest in real property for the benefit of the beneficiary. "Trustor" means any owner/borrower identified in a deed of trust, who transfers an interest in real property to a trustee as security for payment of a debt by that owner/borrower. "Vacancy/vacant" means any building, structure or real property that is unoccupied or occupied by a person without a legal right of occupancy. "Vacant building" means a building where at least thirty-five (35%) percent of the total floor area within the building is not occupied. "Vacant shopping center/industrial complex" means a shopping center or Ordinance No. NS-2993 Page 6 of 17