2011 Oregon Revised Statutes
ORS Volume 11, Chapters 431 - 470
ORS Chapter 470
470.645 Application for loan; contents.

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 or 470.685 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 to support the loan have been satisfied. [2009 c.753 29]