Cancellation.

The owner or owners may petition the Town Board for cancellation of the agreement, or the Town Board may on its own motion seek cancellation, upon good cause shown. Such cancellation may be granted only upon payment of the amounts provided in § 220-8. Such amounts or a portion thereof may be waived by the Town Board only if good cause for cancellation is catastrophic illness, death of the property owner, or otherwise in the interest of justice.