OAR 629-022-0410: Remedies for Breach of Loan Program Contract

Remedies for Breach of Loan Program Contract (1) The Landowner must pay liquidated damages for a breach of contract by repaying all Trust funds, with interest as calculated in OAR 629-022-0300(2). (2) At any time Forest Products are harvested in breach of contract, the Landowner must pay liquidated damages in the form of a breach penalty. (3) In addition to any other right as provided by law, the State Forester may assign a liquidated and delinquent account, as defined by the Oregon Accounting Manual, to the Department of Revenue or to a private collection agency. (4) The breach penalty in section (2) of this rule may include a reasonable administrative fee to recover the cost of collection services and other related costs, as described in ORS 293.231 through 293.250.