(2)(a) Subject to paragraph (b) of this subsection, the limitations under subsection (1) of this section do not apply to:
(A) Performance-based energy or water efficiency contracts; or
(B) Contracts relating to renewable energy facilities or output serving the condominium, including facilities leased to the association.
(b) A contract described in paragraph (a) of this subsection:
(A) May not have an initial term of more than 20 years; and
(B) Must be recorded with the recording officer in each county in which the condominium is located.
(c) As used in this subsection, "renewable energy facilities" means facilities generating electricity, heat or cooling by means of:
(A) Solar, wind, ocean, hydropower, biomass or geothermal resources; or
(B) Biofuels or hydrogen derived from renewable resources.
(3) Any contract or agreement that is subject to subsection (1) of this section entered into after January 1, 1982, may be terminated without penalty by the association or the board of directors upon not less than 30 days’ written notice to the other party given not later than 60 days after the turnover meeting.
(4) The provisions of the Condominium and Cooperative Abuse Relief Act of 1980 (15 U.S.C. 3601 to 3616), except for 15 U.S.C. 3609 and 3610, shall not apply in the State of Oregon. [Formerly 94.221; 2005 c.22 §77; 2009 c.641 §30]