Or. Admin. Code § 629-022-0250

Current through Register Vol. 64, No. 1, January 1, 2025

Section 629-022-0250 - Life of the Contract

The Loan Program Contract between the Landowner and the Trust must be terminated when:

(1) The Landowner makes full payment described in OAR 629-022-0300; or

(2) A Catastrophe destroys the entire Forest Stand, leaving No Salvage Value; or

(3) Two hundred years, or as otherwise specified in the contract, elapse since the execution of the original contract.

Or. Admin. Code § 629-022-0250

FB 4-1994, f. & cert. ef. 8-3-94; DOF 2-2007, 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