C. On the purchaser's written request, the commissioner may extend the time for payment of the amount delinquent for a period of not more than five years on terms that the commissioner considers to be appropriate as follows:

1. 1. The commissioner may grant an extension in response to a request made within sixty days before the due date of the payment. An extension under this paragraph begins on the date the payment was due and continues for the period stated in a written notice to the purchaser.
2. 2. The commissioner may grant an extension in response to a request made within sixty days after the date of the default or failure notice provided in subsection A. An extension under this paragraph begins on the date of the notice and continues for the period stated in a written notice to the purchaser.
3. 3. If the department does not act on a request for extension within thirty days after receiving the request, the request is considered to be denied. If the purchaser fails during the period of the extension to complete all delinquent payments, including principal and interest, the certificate of purchase is subject to default and cancellation pursuant to subsections A and B, except that if the last day of the last period of extension expires on the last day of the five-year period and all delinquent payments have not been paid by the last day of the five-year period, the certificate of purchase shall automatically be canceled on the last day of the five-year period and noted on the records of the department.