5442.2 Resale of timber from uncompleted contract.§ 5442.2 Resale of timber from uncompleted contract.
(a) This section applies to the sale of timber only when 50 percent or more of the timber included in the sale is timber remaining from an uncompleted contract. A bid from a purchaser who held the uncompleted contract, or an affiliate of such purchaser, will be considered only if:
(1) The contract was not canceled because of breach by the purchaser, and
(2) The purchaser has made full payment of the total purchase price and any related charges by the expiration date.
(b) The purchaser who held the uncompleted contract, or affiliate of such purchaser, shall, upon execution of the resale contract, agree that the Bureau of Land Management shall retain the original payment for timber not removed under the uncompleted contract, less the cost of resale, as a credit toward the purchase price of the resale contract.[55 FR 17755, Apr. 27, 1990]