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
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