ORS 94.986
Requirements for sale of membership camping contract

  • nondisturbance agreements

With respect to any campground offered for sale in this state and acquired and put into operation by a membership camping operator after September 1, 1985, the membership camping operator shall not sell membership camping contracts in this state granting the right to use such campground until one of the following requirements has been satisfied:

(1)

Each person holding an interest in a blanket encumbrance executes and delivers to the Real Estate Commissioner a nondisturbance agreement and records such agreement in the real estate records of the county in which the campground is located. “Nondisturbance agreement” means an instrument by which the holder of a blanket encumbrance agrees that the holder’s rights in the campground shall be subordinate to the rights of any membership camping contract purchaser. Every nondisturbance agreement must contain a covenant by the lienholder that the lienholder, its successors, and anyone who acquires the campground property through the blanket lien shall not use, or cause or permit the property to be used in a manner that prevents a membership camping contract purchaser from using, the campground property in the manner contemplated by the membership camping contract. The lienholder’s agreement not to disturb a membership camping contract purchaser may require as a continuing condition that the purchaser perform all obligations and make all payments due under any membership camping contract for the purchaser’s campground interest and, if the membership camping contract is held as a leasehold, under the lease for the purchaser’s campground interest. The nondisturbance agreement shall also contain provisions setting forth each of the following:

(a)

The nondisturbance agreement may be enforced by purchasers of membership camping contracts. If the membership camping operator is not in default under its obligations to the holder of the blanket encumbrance, the agreement may be enforced by both the membership camping operator and the purchasers.

(b)

The nondisturbance agreement is effective as between each purchaser and the holder of the blanket encumbrance despite any rejection or cancellation of the purchaser’s contract during bankruptcy proceedings of the membership camping operator.

(c)

The agreement is binding upon the successors in interest of both the membership camping operator and the holder of the blanket encumbrance.

(d)

A holder of the blanket encumbrance who obtains title or possession, or who causes a change in title or possession in a campground by foreclosure or otherwise, and who does not continue to operate the campground upon conditions no less favorable to members than existed prior to the change of title or possession shall:

(A)

Offer the title or possession of the campground to an association of members to operate the campground; or

(B)

Obtain a commitment from another entity that obtains title or possession to undertake the responsibility for operation of the campground.

(2)

If a financial institution, acting as hypothecation lender and providing the major hypothecation loan to the membership camping operator, has a lien on, or security interest in, the membership camping operator’s interest in the campground, the financial institution shall execute and deliver to the commissioner a nondisturbance agreement and record such agreement in the real estate records of the county in which the campground is located. In addition, each person holding an interest in any blanket encumbrance superior to the interest held by the financial institution shall execute, deliver and record an instrument stating that such person shall give the financial institution notice of, and at least 30 days to cure, any default under the blanket encumbrance before such person commences any foreclosure action affecting the campground. For the purposes of this provision, a major hypothecation loan to a membership camping operator is a loan or line of credit secured by substantially all of the contracts receivable arising from the membership camping operator’s sale of membership camping contracts.

(3)

There shall have been delivered to and accepted by the commissioner a surety bond or letter of credit with the commissioner as obligee for the benefit of purchasers. The bond or letter of credit must be in an amount which is not less than 105 percent of the remaining principal balance of every indebtedness secured by the blanket encumbrance affecting the campground. Any such bond must be issued by a surety authorized to do business in this state and having sufficient net worth to satisfy the indebtedness. Any such letter of credit must be irrevocable and must be drawn upon a bank, savings and loan association or other financial institution acceptable to the commissioner. The bond or letter of credit shall provide for payment of all amounts secured by the blanket encumbrance, including costs, expenses and legal fees of the lienholder, if for any reason the blanket encumbrance is enforced. The bond or letter of credit may be reduced periodically in proportion to the reduction of the amounts secured by the blanket encumbrance.

(4)

There have been delivered to and accepted by the commissioner other financial assurances which the commissioner finds are acceptable to carry into effect the intent and provisions of this section. [1985 c.639 §11a; 1991 c.377 §5]

Source: Section 94.986 — Requirements for sale of membership camping contract; nondisturbance agreements, https://www.­oregonlegislature.­gov/bills_laws/ors/ors094.­html.

94.504
Development agreements
94.508
Approval by governing body
94.513
Procedures on consideration and approval
94.518
Application of local government law and policies to agreement
94.522
Amendment or cancellation of agreement
94.528
Recording
94.531
Severable development interest in real property
94.534
Policy on transferable development credit systems
94.536
Definitions for ORS 94.536 and 94.538
94.538
Transferable development credit systems
94.550
Definitions for ORS 94.550 to 94.783
94.560
Legislative findings
94.565
Planned community to be created under ORS 94.550 to 94.783
94.570
Applicability of ORS 94.550 to 94.783
94.572
Applicability of certain provisions of ORS 94.550 to 94.783 to Class I or Class II planned communities
94.573
Class I or Class II planned community option to amend governing documents to conform to statute
94.574
Procedure for formation of homeowners association by Class I or Class II planned community
94.575
Applicability of subdivision law
94.576
Class I or Class II planned community option to be subject to provisions of ORS 94.550 to 94.783
94.577
Recording amended governing documents
94.580
Declaration
94.585
Authority to amend declaration and initial bylaws to comply with federal or state laws
94.590
Amendment of declaration by owners
94.595
Reserve account for maintaining, repairing and replacing common property
94.600
Declarant control of association
94.604
Transitional advisory committee
94.609
Notice of meeting to turn over administrative responsibility
94.616
Turnover meeting
94.621
Rights of declarant following turnover meeting
94.622
Obligations and liabilities arising from transfer of special declarant rights
94.623
Acquisition of special declarant rights by successor declarant
94.625
Formation of homeowners association
94.626
Corporate dissolution of association
94.630
Powers of association
94.635
Association bylaws
94.639
Criteria for board of directors membership
94.640
Association board of directors
94.641
Assent of director to board action
94.642
Receivership for failure of homeowners association to fill vacancies on board of directors
94.644
Meetings of board of directors
94.645
Adoption of annual budget
94.647
Use of written ballot for approving or rejecting matters subject to meeting of association members
94.650
Meetings of lot owners
94.652
Electronic notice to owner or director
94.655
Quorum for association meetings
94.657
Rules of order
94.658
Voting or granting consent
94.660
Method of voting or consenting
94.661
Electronic ballot
94.662
Notice to lot owners of intent of association to commence judicial or administrative proceeding
94.665
Authority of association to sell, transfer, convey or encumber common property
94.667
Recording association information with county clerk
94.670
Association duty to keep documents and records
94.671
Application of ORS 94.670 (5)
94.673
When compliance with specified provisions of ORS 94.640 and 94.670 required
94.675
Insurance for common property
94.676
Insurance deductible for certain planned communities
94.677
Election to have ORS 94.645, 94.655 and 94.675 apply
94.680
Blanket all-risk insurance
94.685
Specification of insurance for individual lots
94.690
Terms of insurance under ORS 94.680
94.695
Authority to delegate association powers to master association
94.700
Duration and termination of initial management agreements and service and employment contracts
94.704
Assessment and payment of common expenses
94.709
Liens against lots
94.712
Lot owner personally liable for assessment
94.716
Lien against two or more lots
94.719
Lien foreclosure
94.723
Common expenses
94.728
Taxation of lots and common property
94.733
Easements held by owner of lot and by declarant
94.760
Promotional material showing possible improvements
94.761
Legislative findings regarding electric vehicle charging stations
94.762
Electric vehicle charging stations
94.763
Association use of pesticides on lots
94.764
Changes or actions that require approval or consent of mortgagee
94.770
Application of rule against perpetuities
94.775
Judicial partition of lots
94.776
Development and division of lots
94.777
Compliance with bylaws and other restrictions required
94.778
Prohibition against installation of solar panels void and unenforceable
94.779
Unenforceability of certain irrigation requirements and restrictions on family child care
94.780
Remedies
94.783
When certain administrative provisions apply
94.785
Short title
94.803
Definitions for ORS 94.803 and 94.807 to 94.945
94.806
Legislative finding
94.807
Application
94.808
Managing entity as taxpayer
94.809
Valuation of timeshare property
94.811
When owners of planned community, condominium or subdivision may prohibit timeshare plan
94.813
Character of timeshare estates
94.816
Partition prohibited
94.818
Recording of timeshare instrument
94.821
Content of timeshare instrument
94.823
Notice of intent to sell timeshares
94.826
Information on exchange program
94.828
Public report on plan
94.829
Sale not allowed before issuance of public report
94.831
Filing fees
94.833
Sale of timeshare plan located out-of-state
94.836
Cancellation of purchase within five days
94.839
Notice of cancellation right
94.841
Waiver of rights void
94.843
Limits on developer right to transfer
94.846
Designation of managing entity
94.848
How managing entity of developer terminated
94.853
Payment of common expenses
94.856
Assessment of common expenses as lien
94.858
Owners’ association
94.863
Developer’s duty to managing entity
94.867
Judicial declaration of failure in management
94.869
Insurance coverage
94.871
When purchase money agreement prohibited
94.873
Escrow account
94.876
Requirements for closing escrow
94.878
Duties of escrow agent
94.881
Who may serve as escrow agent
94.885
Rights of lienholder
94.890
Lien payment trust
94.895
Trust irrevocable without alternative arrangement
94.900
Alternative to lien payment trust
94.905
Surety bond
94.915
Inspection of records
94.920
Consent to service by out-of-state developer
94.925
Civil penalty
94.930
Commissioner order
94.940
False practices prohibited
94.945
Advertising regulation
94.953
Definitions for ORS 94.953 to 94.989
94.956
Registration required to sell membership camping contract
94.959
Application for registration
94.962
Exemptions from registration
94.965
Effective date of registration
94.968
Denial, suspension and revocation of registration
94.971
Fee for registration or amendment of an offer or sale of membership camping contract
94.974
Written disclosures required
94.975
False practices prohibited
94.976
Advertising regulation
94.977
Registration as salesperson or broker
94.980
Application for registration
94.983
Cancellation of contract by purchaser
94.986
Requirements for sale of membership camping contract
94.987
Judicial declaration of failure in management
94.989
Interpretation of membership camping contracts
Green check means up to date. Up to date