Pacific Western Development Corp. v. Summit Exchange Co.

Plaintiff appeals from a declaratory judgment for defendants on a disputed provision in a pair of earnest money agreements. We affirm.

Defendants J. Peterkort & Company and Peterkort Management Company (“the Peterkorts”) owned a large parcel of property located in eastern Washington County. Although zoned for single-family residential use, the property had been held for many years as farm property. Because the property had been devoted to farm use, the Peterkorts were able to take advantage of certain special assessment provisions for farmland located in areas zoned for more intensive use. ORS…