Or. Admin. Code § 690-095-0070 - Loan Contract
(1) The loan
contract shall contain the provisions required by Section 26(3) and (4) of
chapter 907, Oregon Laws 2009, any provisions the director considers necessary
to ensure expenditure of the loan proceeds for the purposes set forth in the
approved application and any other provisions required by law or that the
director determines are necessary to ensure timely repayment of the
loan.
(2) Where the applicant is a
water developer described in ORS
541.700(7)(e) through
(o), the water developer shall represent and
warrant in the loan contract that it is fully authorized to, and does, grant
the State of Oregon, the liens required under the loan program and that
granting the lien will not violate or conflict with any other agreement, pledge
or contract to which the water developer is a party, or with any decree, order
or judgment of any competent tribunal to which the water developer is
subject.
Notes
Stat. Auth: ORS 536.027 & 541.646
Stats. Implemented: ORS 541-600 - 541.646
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