72nd OREGON LEGISLATIVE ASSEMBLY--2003 Regular Session
 
HA to HB 2060
 
LC 443/HB 2060-1
 
                       HOUSE AMENDMENTS TO
                         HOUSE BILL 2060
 
                    By COMMITTEE ON JUDICIARY
 
                             April 7
 
  On page 1 of the printed bill, line 2, after 'ORS' delete the
rest of the line and insert '86.745.'.
  Delete lines 4 through 30 and delete page 2 and insert:
  '  { +  SECTION 1. + }  { + Sections 2 and 3 of this 2003 Act
are added to and made a part of ORS 86.705 to 86.795. + }
  '  { +  SECTION 2. + }  { + (1) Not later than 15 days before
the date of a sale of property set forth in the notice of sale
under ORS 86.745, the grantor, an occupant, a holder of a junior
lien or any other person interested in bidding at the sale may
send a written request to the trustee requesting that the trustee
provide a written statement of information as described in
section 3 of this 2003 Act.
  ' (2) The written request under subsection (1) of this section
shall be sent to the trustee at the address given in the notice
of sale by:
  ' (a) Certified mail, return receipt requested; or
  ' (b) Personal delivery.
  ' (3) The written request under subsection (1) of this section
shall include a mailing address, a facsimile number or an
electronic mail address to which the trustee shall send the
written statement of information.
  ' (4) The trustee is not required to respond to a written
request that does not include an address, facsimile number or
electronic mail address described in subsection (3) of this
section.
  ' (5) Upon receiving a written request under subsection (1) of
this section, the trustee shall send the written statement of
information to the address, facsimile number or electronic mail
address provided in the written request at least seven days prior
to the date of the sale. If the person requesting the written
statement of information provided a mailing address, the trustee
shall send the written statement of information by certified
mail, return receipt requested and by first class mail. + }
  '  { +  SECTION 3. + }  { + (1) The written statement of
information provided by a trustee under section 2 of this 2003
Act shall include:
  ' (a) A statement of the exact amount required, as of a
specified date, to cure the default or satisfy the obligation,
including the costs of foreclosure, trustee fees, attorney fees
and per diem interest; and
  ' (b) A description of any other performance necessary to cure
the default or satisfy the obligation.
  ' (2) If the amount required to cure the default or satisfy the
obligation is not calculable to an exact amount, the trustee may
estimate the maximum amount required to cure the default or
satisfy the obligation.
  ' (3) If the trustee does not provide the written statement of
information within the time specified in section 2 of this 2003
Act, the trustee may postpone the sale of the property to provide
the person requesting the written statement of information at
least seven days between receipt of the statement and the date of
the sale.
  ' (4) A person requesting a written statement of information
under section 2 of this 2003 Act has the rights of an omitted
person under ORS 86.742 if:
  ' (a) The person requesting the statement proves that the
person sent a written request under section 2 of this 2003 Act at
least 15 days before the date of sale; and
  ' (b) The trustee cannot prove that the trustee sent the
written statement of information at least seven days before the
date of the sale.
  ' (5) The provisions of this section and section 2 of this 2003
Act do not affect the duty of beneficiaries to provide
information to grantors. + }
  '  { +  SECTION 4. + } ORS 86.745 is amended to read:
  ' 86.745. The notice of sale shall set forth:
  ' (1) The names of the grantor, trustee and beneficiary in the
trust deed { + , and the mailing address of the trustee + }.
  ' (2) A description of the property covered by the trust deed.
  ' (3) The book and page of the mortgage records where the trust
deed is recorded.
  ' (4) The default for which the foreclosure is made.
  ' (5) The sum owing on the obligation secured by the trust
deed.
  ' (6) The election to sell the property to satisfy the
obligation.
  ' (7) The date, time and place of the sale, which shall be held
at a designated time after 9 a.m. and before 4 p.m. based on the
standard of time established by ORS 187.110 and at a designated
place in the county or one of the counties where the property is
situated.
  ' (8) The right under ORS 86.753 to have the proceeding
dismissed and the trust deed reinstated by payment of the entire
amount then due, together with costs, trustee's and attorney's
fees, and by curing any other default complained of in the notice
of default, at any time prior to five days before the date last
set for the sale.'.
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