OAR 813-012-0120
Construction and Completion

(1)

During the construction of the Project, the Department may conduct random inspections for Borrower’s compliance with the plans and specifications previously approved by the Department. The Borrower’s supervising architect shall submit regular inspection reports to the Department. Change orders must be signed by the contractor, supervising architect, the Borrower and HUD, if applicable, before being submitted to the Department for its approval.

(2)

Upon completion of construction of a Project, the Department and other contractual or regulatory entities, as applicable, may perform an inspection to assure the Borrower’s compliance with the approved plans and specifications. If some items of construction remain to be completed due to circumstances beyond the control of the Borrower (provided the incomplete items do not detract from livability or safety of the Project), the Department may require the Borrower to place in an escrow account, approved by the Department and under Department control, an amount equal to one and one-half times the estimated cost of completion, until the construction item is completed.

(3)

Upon substantial completion of acquisition, construction and equipping of the Project, the Borrower shall submit to the Department a certificate containing the following:

(a)

The Borrower’s statement that the Project has been substantially completed and is ready and available for occupancy as of a specified date (which shall be the completion date);

(b)

The Borrower’s statement of the aggregate amount, if any, advanced against the Program Loan prior to and upon the completion date; and

(c)

The Borrower’s certification that as of the completion date, there has been full compliance with the provisions of the Regulatory Agreement and Declaration of Restrictive Covenants.

(4)

An architect with an ownership interest in the Project shall not act as a supervising architect.

Source: Rule 813-012-0120 — Construction and Completion, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=813-012-0120.

Last Updated

Jun. 8, 2021

Rule 813-012-0120’s source at or​.us