(2) A declarant may amend a document in order to comply with requirements of the Federal Housing Administration, the United States Department of Veterans Affairs, Rural Development or the Farm Service Agency of the United States Department of Agriculture, the Federal National Mortgage Association, the Government National Mortgage Association, the Federal Home Loan Mortgage Corporation, any department, bureau, board, commission or agency of the United States or the State of Oregon or any corporation wholly owned, directly or indirectly, by the United States or the State of Oregon that insures, guarantees or provides financing for a condominium or units in a condominium.
(3) If a need arises to amend a document after turnover to the association of unit owners has occurred, the amendment must be approved by the association in accordance with the approval provisions of the declaration or bylaws and this chapter.
(4) An amendment adopted by the declarant under this section must include:
(a) A statement of the purpose of the amendment.
(b) A reference to the specific requirements of the entity specified in subsection (2) of this section with which the original document does not comply.
(c) A reference to the recording index numbers and date of recording of the declaration, bylaws, plat, the document being amended and any other applicable supplemental declarations, supplemental plats or amendments to the documents.
(d) A statement that the amendment is adopted under this section.
(5) An amendment adopted under this section is not effective unless the amendment is:
(a) Approved by the Real Estate Commissioner under ORS 100.110 or 100.668, as applicable;
(b) Approved by the county tax assessor if required under ORS 100.110; and
(c) Executed by the declarant, acknowledged and recorded. [2007 c.410 §4; 2019 c.69 §14]
Note: 100.123 was added to and made a part of ORS chapter 100 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.