ORS 285B.044: Breach; default.

(1) If a project sponsor fails to comply with an agreement entered into under ORS 285B.041, the Oregon Business Development Department may seek appropriate legal remedies to secure any repayment of obligations due from the project sponsor to the Industrial Site Loan Fund.

      (2)(a) If a project sponsor defaults on payments of obligations to the fund under ORS 285B.032 to 285B.046, the State of Oregon may withhold any amounts otherwise due to the project sponsor to offset against the obligations. The department may waive this right to withhold.

      (b) Moneys withheld under paragraph (a) of this subsection shall be deposited in the fund and shall be used to repay any account in the fund from which moneys were expended to pay obligations upon which the project sponsor defaulted.