Section 20.02.14.043 - PREMATURE TIMBER SALE TERMINATION01.Request. A timber sale purchaser may, for reasons of hardship, make written request to terminate a timber sale contract before harvesting is completed. In such cases, the Board will determine if a hardship exists and if the contract should be terminated.02.Termination Policy.a. The Board may authorize premature termination of any sale under any terms considered reasonable and appropriate. Any remaining amount of the ten percent (10%) initial deposit will be retained in full and applied towards assessed damages and may not be used as payment for forest products cut and/or removed. Assessed damages in excess of the initial deposit will be applied against the performance bond.b. The following damages will be assessed by the Board for premature sale terminations. The Board will seek payment: i. Of the value of the overbid for the uncut residual volume. For example, if white pine had been bid up by five dollars ($5) per thousand board feet over the appraised price and there are one hundred thousand (100,000) board feet of white pine remaining on the sale area, the purchaser will be assessed five hundred dollars ($500) upon termination.ii. Of the accrued stumpage interest due the endowed institutions based on the interest rate specified in the contract and calculated on all remaining volume from the date of sale to the date the Board approved termination of the contract.iii. For any credits given for developments that remain incomplete at the time of termination.iv. For estimated Department costs associated with reoffering the timber sale.v. For other expenses including, but not limited to, legal costs and Department staff time.c. If logging has occurred on the sale, the purchaser must complete the units that have been partially logged according to contract standards and complete all development work as specified in the contract to the extent of allowances that have been credited to the purchaser.d. The purchaser who has terminated a timber sale contract is not eligible to rebid that particular sale unless specifically authorized to do so by the Board.Idaho Admin. Code r. 20.02.14.043