Or. Admin. Code § 629-022-0160

Current through Register Vol. 63, No. 11, November 1, 2024

Section 629-022-0160 - Trust Security Instrument

(1) The Landowner may be required by the State Forester to provide good and sufficient collateral to secure repayment of all funds paid to the Landowner from the Trust.

(2) Collateral must be in the form of a a general lien upon all Forest Products grown or growing within the Project boundary or boundaries and proceeds derived therefrom as specified in ORS 526.740.

(3) Costs and fees related to the collateral and the security instrument, such as title policy premiums and escrow fees, must be paid from Trust funds but may not be used to determine final payback amounts described in OAR 629-022-0300 through 629-022-0320. These costs and fees are subject to repayment following a breach of contract.

Or. Admin. Code § 629-022-0160

FB 4-1994, f. & cert. ef. 8-3-94; DOF2-2007, f. 1-10-07 cert. ef. 1-11-07; DOF 1-2009, f. 1-12-09, cert. ef 2-1-09

Stat. Auth.: ORS 526.700 - 526.730 & 526.745

Stats. Implemented: ORS 526.695 - 526.775