If the Forester determines a contract is in default, the following provisions apply to all defaults governed by OAR 629-032-0000 through 629-032-0050:

1. (1) The following shall be retained by the forester or maintained in full effect until contract damages have been determined by agreement, mediation or litigation and the forester has been reimbursed in full for said damages:

   1. (a) Payments made by the purchaser, including initial deposits and advance payments; and
   2. (b) Performance and payment bonds. Performance and payment bond amounts shall not be reduced until the forester has been reimbursed in full for all contract damages.
2. (2) The Department of Forestry may offer the defaulted parcel for resale at any time after the Notice of Default has been mailed to the purchaser.
3. (3) The Department of Forestry may retain resale revenues obtained from the resale of the defaulted parcel.

Statutory/Other Authority

ORS 526 & 530

Statutes/Other Implemented

ORS 526.041, 530.110 & 530.115

History

DOF 1-1998, f. & cert. ef. 1-14-98
FB 4-1987, f. & ef. 9-8-87