Remedies for Breach of Loan Program Contract

1. (1) The Landowner must pay liquidated damages for a breach of contract by repaying all Trust funds, with interest as calculated in OAR 629-022-0300(2).
2. (2) At any time Forest Products are harvested in breach of contract, the Landowner must pay liquidated damages in the form of a breach penalty.
3. (3) In addition to any other right as provided by law, the State Forester may assign a liquidated and delinquent account, as defined by the Oregon Accounting Manual, to the Department of Revenue or to a private collection agency.
4. (4) The breach penalty in section (2) of this rule may include a reasonable administrative fee to recover the cost of collection services and other related costs, as described in ORS 293.231 through 293.250.

Statutory/Other Authority

ORS 526.700 - 526.730 & 526.745

Statutes/Other Implemented

ORS 526.695 - 526.775

History

DOF 1-2009, f. 1-12-09, cert. ef 2-1-09
DOF 2-2007, f. 1-10-07 cert. ef. 1-11-07
FB 4-1994, f. & cert. ef. 8-3-94