Small Scale Local Energy Projects

ORS 470.645
Application for loan

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An application for an energy efficiency and sustainable technology loan must contain:

(1)

Information sufficient to identify real or personal property located within this state against which a fixture filing and lien may be filed under ORS 470.680 (State Department of Energy to identify forms of acceptable security) or 470.685 (Recording liens) to secure the loan and sufficient to allow verification that the property owner is the applicant or has consented to the fixture filing and lien;

(2)

A clear and conspicuous disclosure:

(a)

That a lien or other form of security for the energy efficiency and sustainable technology loan need not be paid in full upon a sale of the property, but all amounts due under the repayment plan as of the sale date must be paid before the sale closes; and

(b)

That some lenders may be unwilling to make a mortgage on a property that is subject to a lien or other form of security for the energy efficiency and sustainable technology loan;

(3)

The loan applicant must sign a loan contract that recites all terms and conditions required under this chapter for an energy efficiency and sustainable technology loan; and

(4)

The State Department of Energy must be satisfied that all conditions required under ORS 470.090 (Approval or rejection of project financing by director) to support the loan have been satisfied. [2009 c.753 §29]
Chapter 470

Notes of Decisions

There is nothing in this chapter which requires the Department of Energy or its director to recover loans or withhold future loan installments for the purpose of compelling compliance by the borrower with the wage and employment conditions of state law. State ex rel Building Council v. Bureau of Labor, 61 Or App 22, 656 P2d 325 (1982), Sup Ct review denied


Source

Last accessed
Jun. 26, 2021