The county recording officer shall record a written release of the lien or the county treasurer in whose office money is deposited under ORS § 87.076 shall return the money to the person who made the deposit if:

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(1) The person who filed the bond or deposited the money under ORS § 87.076 notifies the lien claimant and the treasurer in writing and by certified mail that a suit to foreclose the lien was not commenced within the time specified by ORS § 87.055. The notice shall provide that the lien claimant has 15 calendar days in which to object to the release of the lien and the return of the money and to provide documentation that demonstrates that a suit was timely commenced or that the time for commencement has not expired. If the treasurer receives an objection, the treasurer may decide how to distribute the money or may commence an interpleader proceeding under ORCP 31.

(2) The person who filed the bond or deposited the money presents a certified copy of a court’s order for the release of the bond or all or some of the money to the person.

(3) The person who filed the bond or deposited the money presents a written release of lien signed by the lien claimant. [1975 c.466 § 22; 1999 c.654 § 5; 2009 c.513 § 3]