Common use of Default and Remedies for Default Clause in Contracts

Default and Remedies for Default. In the event PURCHASER fails to make two consecutive payments provided for herein, or any of them, punctually and under strict terms and at the times above specified, or commits or suffers any strip or waste of or on such premises, or breaches the other terms or conditions of this contract, time of payment and strict performance being declared to be the essence of this contract, then the COUNTY at its option, shall have the right: a. To cancel this contract in accordance with ORS 275.220 or other applicable laws. b. To foreclose this contract by suit, in equity, or at law, or assert any other right existing by law or in equity. In the event of such cancellation or foreclosure all of the right and interest herein created or then existing in favor of PURCHASER derived under this contract PURCHASER shall utterly cease, and the right to possession of real property above described and all rights acquired by the PURCHASER shall revert to and revest in COUNTY without an act of reentry or any other act of COUNTY to be performed, and without any right of PURCHASER of return, reclamation or compensation for moneys paid on account of the purchase of said property, as absolutely, fully and perfectly as if this contract and such payments had never been made; and, in the event of such default, all payments heretofore made on this contract are to be retained by and belong to COUNTY as the agreed and reasonable rent of said premises to the time of such default. COUNTY, in the event of such default, shall have the right to immediately, or at any time thereafter, enter upon the real property aforesaid without any process of law and take immediate possession thereof, together with all improvements and appurtenances thereon or thereto belonging. The remedies provide COUNTY above are nonexclusive and in addition to any other remedies provided by law.

Default and Remedies for Default. In the event PURCHASER fails to make two consecutive payments provided for herein, or any of them, punctually and under strict terms and at the times above specified, or commits or suffers any strip or waste of or on such premises, or breaches the other terms or conditions of this contract, time of payment and strict performance being declared to be the essence of this contract, then the COUNTY at its option, shall have the right:terms a. To cancel this contract in accordance with ORS 275.220 or other applicable laws. b. To foreclose this contract by suit, in equity, or at law, or assert any other right existing by law or in equity. In the event of such cancellation or foreclosure all of the right and interest herein created or then existing in favor of PURCHASER derived under this contract PURCHASER shall utterly cease, and the right to possession of real property above described and all rights acquired by the PURCHASER shall revert to and revest in COUNTY without an act of reentry or any other act of COUNTY to be performed, and without any right of PURCHASER of return, reclamation or compensation for moneys paid on account of the purchase of said property, as absolutely, fully and perfectly as if this contract and such payments had never been made; and, in the event of such default, all payments heretofore made on this contract are to be retained by and belong to COUNTY as the agreed and reasonable rent of said premises to the time of such default. COUNTY, in the event of such default, shall have the right to immediately, or at any time thereafter, enter upon the real property aforesaid without any process of law and take immediate possession thereof, together with all improvements and appurtenances thereon or thereto belonging. The remedies provide provided COUNTY above are nonexclusive and in addition to any other remedies provided by law.

Default and Remedies for Default. In the event PURCHASER fails to make two consecutive payments provided for herein, or any of them, punctually and under strict terms and at the times above specified, or commits or suffers any strip or waste of or on such premises, or breaches the other terms or conditions of this contract, time of payment and strict performance being declared to be the essence of this contract, then the COUNTY at its option, shall have the right: a. To cancel this contract in accordance with ORS 275.220 or other applicable laws. b. To foreclose this contract by suit, in equity, or at law, or assert any other right existing by law or in equity. In the event of such cancellation or foreclosure all of the right and interest herein created or then existing in favor of PURCHASER derived under this contract PURCHASER shall utterly cease, and the right to possession of real property above described and all rights acquired by the PURCHASER shall revert to and revest in COUNTY without an act of reentry or any other act of COUNTY to be performed, and without any right of PURCHASER of return, reclamation or compensation for moneys paid on account of the purchase of said property, as absolutely, fully and perfectly as if this contract and such payments had never been made; and, in the event of such default, all payments heretofore made on this contract are to be retained by and belong to COUNTY as the agreed and reasonable rent of said premises to the time of such default. COUNTY, in the event of such default, shall have the right to immediately, or at any time thereafter, enter upon the real property aforesaid without any process of law and take immediate possession thereof, together with all improvements and appurtenances thereon or thereto belonging. The remedies provide COUNTY above are nonexclusive and in addition to any other remedies provided by law.

Default and Remedies for Default. In the event PURCHASER fails to make two consecutive the payments provided for herein, or any of them, punctually and under strict terms and at the times above specified, or commits or suffers any strip or waste of or on such premises, or breaches the other terms or conditions of this contract, time of payment and strict performance being declared to be the essence of this contract, then the COUNTY at its option, shall have the right: a. To cancel this contract in accordance with ORS 275.220 or other applicable laws. b. To foreclose this contract by suit, in equity, or at law, or assert any other right existing by law or in equity. In the event of such cancellation or foreclosure all of the right and interest herein created or then existing in favor of PURCHASER derived under this contract PURCHASER shall utterly cease, and the right to possession of the real property above described and all rights acquired by the PURCHASER shall revert to and revest in COUNTY without an act of reentry or any other act of COUNTY to be performed, and without any right of PURCHASER of return, reclamation or compensation for moneys paid on account of the purchase of said property, as absolutely, fully and perfectly as if this contract and such payments had never been made; and, in the event of such default, all payments heretofore made on this contract are to be retained by and belong to COUNTY as the agreed and reasonable rent of said premises to the time of such default. COUNTY, in the event of such default, shall have the right to immediately, or at any time thereafter, enter upon the real property aforesaid without any process of law and take immediate possession thereof, together with all improvements and appurtenances thereon or thereto belonging. The remedies provide provided COUNTY above are nonexclusive and in addition to any other remedies provided by law.