Whenever a local improvement assessment upon property is payable in installments, and whenever any installment of such assessment is not paid when due, the entire assessment shall at once become due and payable and the collection thereof shall be enforced in the manner prescribed in this chapter; provided, however, that payment of such delinquent installment or installments due, together with interest, penalty and cost, at any time before entry of judgment in foreclosure proceedings, shall extend the time of payment on the remainder of the assessment the same as if there had been no delinquency or foreclosure. Where foreclosure of two installments of the same assessment on any lot, tract or parcel is sought, the finance director shall cause such lot, tract or parcel to be dismissed from the action, if the installment first delinquent together with interest, penalty, costs, and charges is paid at any time before sale. (1957 code § 8.04.020.)