Continuation of proceedings after certain types of stay ordered by court
- • procedures
(1) Except when a seller has participated in obtaining a stay, contract forfeiture proceedings that are stayed by order of the court, by proceedings in bankruptcy or for any other lawful reason, shall continue after release from the stay as if uninterrupted, if within 30 days after release the seller gives written amended notice of default by certified mail with return receipt requested, to the last-known address of those persons listed in ORS 93.915 (Notice of default) (1). The amended notice of default shall:
(a) Be given at least 20 days prior to the amended date of forfeiture;
(b) Specify an amended date after which the contract will be forfeited, which may be the same as the original forfeiture date;
(c) Conform to the requirements of ORS 93.915 (Notice of default) (3), except the time periods set forth therein; and
(d) State that the original forfeiture proceedings were stayed and the date the stay terminated.
(2) The new date of forfeiture shall not be sooner than the date of forfeiture as set forth in the seller’s notice of default which was subject to the stay.
(3) Prior to the date of forfeiture, the seller shall cause to be recorded in the real property records of each county in which any part of the property is located, a copy of the amended notice of default, together with an affidavit of service or mailing of the amended notice of default, reciting the date the amended notice of default was served or mailed and the name and address of each person to whom it was given. From the date of its recording, the amended notice of default shall be subject to the provisions of ORS 93.915 (Notice of default) (4) and (5). [1989 c.516 §4]
Note: See note under 93.913 (Forfeiture allowed for default under certain collateral assignments of interest).
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