If learning of a problem with execution of a suitable agreement by the Firm/applicant, then pending a corrective waiver by the Director, the county assessor:
Shall deny the exemption claim, if the agreement was not executed on or before December 31 directly preceding the first exemption year under ORS 285C.175 (Enterprise zone exemption), does not cover at least all years of exemption, or is otherwise deficient.
(5)
The assessor shall deny the exemption under ORS 285C.175 (Enterprise zone exemption)(6), if by August 31 of the first tax year of exemption, a problem as described in subsection (4) of this rule is not resolved through copies/documentation of the following:
Once a business firm is qualified and approved to receive the exemption, the exemption is not subject to later revocation or disqualification for lack of an agreement, except for the case of fraudulent representations.
(7)
Subject to requisite resolution of the outstanding problem, the assessor may reverse a denial as described in section (5) of this rule and grant the exemption, as otherwise allowed under the laws and rules governing the procedures and authority of the assessor.