Section 37-247 - Purchaser's default; forfeiture and cancellation of certificate of purchase; extension of time for paymentsA. When a purchaser defaults in a payment of principal or interest, as provided in the certificate of purchase, or fails to comply with a condition, covenant or requirement thereof, the certificate shall be declared subject to forfeiture. Within sixty days after default or failure the department shall give notice of the default or failure by certified mail to the purchaser's last known address of record in the department.B. If the payment is not made, or the condition, covenant or requirement is not complied with, within sixty days from the date of notice, the certificate of purchase and all rights of the purchaser to the land and improvements thereon may be canceled. In the event of cancellation, the commissioner shall make a formal order canceling the certificate of purchase and a copy of the order shall be mailed to the last known post-office address of the holder of the certificate of purchase. If no appeal is made within thirty days from the date a copy of the order is mailed to the holder of the certificate of purchase, the order shall become final and the certificate of purchase shall be canceled on the records of the department, and the improvements and all payments made on the purchase price deposited in the respective permanent fund under article 13 of this chapter shall be deemed rental for the land.C. On the purchaser's written request, the commissioner may extend the time for payment of the amount delinquent for a period of not more than five years on terms that the commissioner considers to be appropriate as follows: 1. The commissioner may grant an extension in response to a request made within sixty days before the due date of the payment. An extension under this paragraph begins on the date the payment was due and continues for the period stated in a written notice to the purchaser.2. The commissioner may grant an extension in response to a request made within sixty days after the date of the default or failure notice provided in subsection A. An extension under this paragraph begins on the date of the notice and continues for the period stated in a written notice to the purchaser.3. If the department does not act on a request for extension within thirty days after receiving the request, the request is considered to be denied. If the purchaser fails during the period of the extension to complete all delinquent payments, including principal and interest, the certificate of purchase is subject to default and cancellation pursuant to subsections A and B, except that if the last day of the last period of extension expires on the last day of the five-year period and all delinquent payments have not been paid by the last day of the five-year period, the certificate of purchase shall automatically be canceled on the last day of the five-year period and noted on the records of the department.D. If a payment of principal or interest is made after the due date, payments shall be made according to the extension granted by the commissioner under subsection C. If no extension was granted, delinquent interest shall be added at a rate set by the state treasurer.