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r <br />"This conveyance is made and delivered upon the following express conditions, <br />reservations, and restrictions: <br />`a. Subject to special assessments, existing restrictions, reservations and <br />easements of record, if any. <br />`b. Access to streets/roads other than State-controlled facilities is under the <br />authority of either the local city or county." <br />9. ASSIGNMENT. Purchaser shall not sell, assign, or transfer this contract, without <br />the written consent of State. As a condition to such consent, State may elect to increase the interest <br />rate hereunder from the date of such transfer or sale. <br />10. WAIVER. Any forbearance by State in exercising any right or remedy hereunder, <br />or otherwise afforded by applicable law; shall not be a waiver of or preclude the existence of any <br />such right or remedy. <br />11. DEFAULTS. Time and the prompt and punctual payment of all sums payable <br />hereunder, and the exact performance and observance of each and all of the agreements and <br />provisions herein contained, are in each and every case of the essence of this contract. <br />Notwithstanding the foregoing, Purchaser shall not be in default of its obligation to make any <br />installment payment hereunder until sixty (60) days after the date on which, in each case, such <br />installment payment was due, as shown on Schedule A hereto. <br />12. STATE'S REMEDY. If Purchaser should be in default for any of the installment <br />payments specified herein, or in the payment of any assessments levied or assessed or becoming <br />payable against Premises, or fails to keep Premises free from liens and encumbrances accruing after <br />this date, or otherwise fails to keep and perform the agreements herein, State may terminate this <br />Contract, as provided,in ORS 93.905 to ORS 93.940, by giving Purchaser a 60-day notice in writing <br />of its intentions to do so and opportunity to cure, and upon the expiration of said 60-day period and <br />the continued default in any covenant or condition by Purchaser during such period, then State may, <br />without tender of performance or suit or action, declare this Contract null and void, and all the rights <br />of Purchaser in this Contract and all its estate, equity, interest, or right of possession in the Premises <br />shall cease and terminate, and all payments made by Purchaser to State, whether on principal or <br />interest, or for taxes, liens, or assessments, and including any and all buildings and improvements <br />upon Premises, shall be forfeited to, State, the same being considered liquidated damages for the non- <br />performance of this Contract, and State shall have the right of immediate possession of Premises <br />without the necessity of court action. In addition to State's right to strict foreclosure of the Premises, <br />State shall be entitled to demand and sue for payment of any taxes or other liens, encumbrances or <br />charges that attached to the Premises or accumulated by virtue of Purchaser's breach of this Contract <br />during Purchaser's possession, together with atl interest accrued thereon until the date of payment. <br />State acknowledges and agrees that Purchaser's obligation to make payments hereunder is <br />limited and that State's remedy is limited to strict foreclosure of those Lots that have not been <br />Land Sale Contract - 4 <br />