ORS 555.370
Cancellation of contract upon default

Upon failure of any purchaser having a contract with the Water Resources Commission to make payments of principal and interest according to the terms of the contract, the commission shall notify the purchaser by registered mail or by certified mail with return receipt of the default. If the default continues for a period of six months after the sending of such notice, the commission may cancel the contract, and all payments made thereunder shall be forfeited to the state and placed in the irrigation fund. The commission may reopen the lands covered by the canceled contract for entry, and resell water rights to the land to some other purchaser. Nothing in this section, however, shall be construed so as to prevent the commission from extending the time to make any payment due under any contract with a purchaser, when in the judgment of the commission the purchaser is entitled to an extension. [Amended by 1991 c.249 §58]

Source: Section 555.370 — Cancellation of contract upon default, https://www.­oregonlegislature.­gov/bills_laws/ors/ors555.­html.

555.010
Acceptance by state of conditions of Carey Act and grants thereunder 555.020
Water Resources Commission to manage lands 555.030
Duties of Water Resources Commission 555.040
Powers of Water Resources Commission as to contracts with Secretary of Interior for lands to be reclaimed 555.050
Application to Water Resources Commission for lands to be reclaimed 555.060
Deposit by applicant 555.070
Contract for reclamation of land 555.080
Reclamation works 555.090
Time for construction of works 555.100
Nonperformance by contractor 555.110
State’s liability 555.120
Conditions precedent to entry onto land and sale of water rights 555.130
Application to enter 555.140
Deeds to land 555.150
Rules 555.160
Report of work, expenditures and condition of funds 555.170
Oregon Irrigation Fund 555.171
Transfers from Oregon Irrigation Fund to General Fund 555.180
Payment for irrigation of acreage in excess of contract 555.190
Notice to be in writing 555.310
Reclamation of lands in Tumalo Project 555.320
Project manager 555.330
Rules 555.340
Water rights 555.350
Increase of lien against unsold land 555.360
Arrangements to settle, cultivate and reclaim Carey Act lands 555.370
Cancellation of contract upon default 555.380
Tumalo Project Fund 555.390
Transfer of state’s interest to irrigation districts or to federal government 555.400
Preferred purchasers 555.410
Repayment of appropriation from receipts of sale of lands 555.500
Formation 555.507
Board of directors 555.514
Qualifications to serve on board 555.521
Finances 555.528
Authority to issue general obligation bonds 555.535
Application of ORS chapter 255
Green check means up to date. Up to date

Current through early 2024

§ 555.370’s source at oregon​.gov