(1) Any private company which tows and stores any vehicle pursuant to section 6.972 shall have a lien on the vehicle in accordance with ORS 87.152 for the just and reasonable charges for the tow and storage services performed, and may retain possession of that vehicle until such charges have been paid.

(2) A vehicle towed pursuant to section 6.972 may only be released to the registered owner or other person having a financial interest in the vehicle as shown by the records of the Oregon Motor Vehicle Division, or to a person who purchased the vehicle from the registered owner and who produces written proof of ownership to the municipal court.

(3) A person entitled to such lawful possession of the vehicle may secure the release of the vehicle upon posting bail and paying outstanding fines and immobilization fees for parking offenses in cash to the municipal court and upon paying tow and storage fees to the person having custody of the vehicle.

(4) If subsection (3) above has not been complied with, then the vehicle shall not be released, except upon order of the municipal court judge.