Notwithstanding any other provision contained in the Program rules, the Department shall not disburse funds for a loan until:

1. (1) The loan is secured by a fully executed trust deed note and first lien trust deed or other evidence of security; and
2. (2) The Eligible Borrower has satisfied all conditions contained in a Commitment.

Statutory/Other Authority

ORS 456.555

Statutes/Other Implemented

ORS 456.555 & 456.625

History

OHCS 5-2007, f. & cert. ef. 1-11-07
HSG 6-1996, f. & cert. ef. 6-14-96
Reverted to HSG 8-1991, f. & cert. ef. 12-23-91
HSG 4-1993(Temp), f. & cert. ef. 10-1-93
HSG 8-1991, f. & cert. ef. 12-23-91
HSG 2-1991(Temp), f. & cert. ef. 8-7-91
HSG 15-1989, f. & cert. ef. 11-3-89
HSG 3-1989(Temp), f. & cert. ef. 6-8-89
HSG 10-1987, f. & ef. 3-10-87
HSG 4-1987(Temp), f. & ef. 2-5-87
1HD 13-1984, f. & ef. 9-4-84
1HD 10-1982, f. & ef. 12-14-82
1HD 6-1982(Temp), f. & ef. 9-20-82