Okla. Stat. tit. 63, § 63-2903: Lien against property - Foreclosure - Repayment of loan

A. The State of Oklahoma through the Department shall have a

lien against the property on which the work is being performed for

the amount of the loan plus interest thereon. The Department shall

record a notice of lien with the county clerk where the property is

located. A delinquent installment of the loan may be foreclosed by

the Department and the property concerned shall be sold in the

manner provided for foreclosures of mortgages on land. Any real

estate sold under any order, judgment or decree of court to satisfy

the lien may be redeemed by the owner or his assignee at any time

within one (1) year of the date of the sale by paying to the

purchaser thereof or his assignee the amount paid with interest from

the date of purchase at the rate of twelve percent (12%) per year.

B. Repayment of each loan shall be determined according to a

repayment schedule determined by the Department.

C. Repayment of the loan may be deferred until that time when

the loan recipient sells the property or ownership is transferred.

In such cases where a loan has not been repaid after ten (10) years,

another ten-year extension shall be granted if the loan recipient or

the surviving spouse is still the owner-occupier of the residence.

Such extensions shall be granted until such time when the property

is transferred from the loan recipient or the surviving spouse to

another party.

D. Loan repayments shall be made to the Oklahoma Department of

Commerce and shall be deposited in the Energy Conservation Loan

Fund.