Or. Admin. Code § 141-015-0005

Current through Register Vol. 63, No. 10, October 1, 2024

Section 141-015-0005 - Definitions

(1) "Default" occurs whenever the Forester finds that the purchaser has not complied with the terms and conditions of the contract, or if the purchaser injures or severs timber not included in the sale.

(2) "Damages and Expense" means costs, damages, losses and expense incurred by the State of Oregon by reason of a default including but not limited to any unpaid balances owing the State as determined by either a calculation of the State Forester or as the result of the difference in values between the original sale and the resale of the defaulted parcel; calculated or actual costs for preparing the defaulted parcel for resale; rehabilitation or regeneration delay costs; any expense incurred by the department for legal services resulting from the default, any interest charge as provided for in these rules or any other damages allowed by law.

(3) "Department" means the State Forestry Department.

(4) "Director" means the Director of the Division of State Lands.

(5) "Forester" means the State Forester.

(6) "Market Value" means the value of timber as determined by the Forester, using relevant transaction evidence. Relevant transaction evidence may include, but not be limited to, recent timber sale bid data, log prices, or appraisals.

Or. Admin. Code § 141-015-0005

LB 10-1982(Temp), f. & ef. 11-18-82; LB 1-1983, f. & ef. 4-29-83; LB 3-1990, f. & cert. ef. 8-7-90

Stat. Auth.: ORS 273.521

Stats. Implemented: ORS 273.521