OAR 813-040-0035. Distribution of Funds

(1) Once the Department has received satisfactory security, which may include but is not limited to an assignment of a mortgage or trust deed, the Department may disburse funds. The Nonprofit Borrower, or other Borrower, shall submit any invoices or paid receipts for Predevelopment Costs as stated in the Proposal to the Department each month with a progress report. (2) For market study requests, the Department may waive the requirement for security at its sole discretion.