100.405. ����� (4) �Association property� means any real property or interest in real property acquired, held or possessed by the association provided for under ORS 100.405. ����� (5) �Blanket encum

100.405.

����� (4) �Association property� means any real property or interest in real property acquired, held or possessed by the association provided for under ORS 100.405.

����� (5) �Blanket encumbrance� means a trust deed or mortgage or any other lien or encumbrance, mechanic�s lien or otherwise, securing or evidencing the payment of money and affecting more than one unit in a condominium, or an agreement affecting more than one such unit by which the developer holds such condominium under an option, contract to sell or trust agreement.

����� (6) �Building� means a multiple-unit building or single-unit buildings, or any combination thereof, comprising a part of the property. �Building� also includes a floating structure described in ORS 100.020 (3)(b)(D).

����� (7) �Certified by the association� or �executed by the association� means signed by the secretary and the president or chairperson of the association.

����� (8) �Commissioner� means the Real Estate Commissioner.

����� (9) �Common elements� means the general common elements and the limited common elements.

����� (10) �Common expenses� means:

����� (a) Expenses of administration, maintenance, repair or replacement of the common elements; and

����� (b) Expenses declared common by this chapter or by the declaration or the bylaws of the particular condominium.

����� (11) �Condominium� means:

����� (a) With respect to property located within this state:

����� (A) The land, if any, whether fee simple, leasehold, easement or other interest or combination thereof, and whether contiguous or noncontiguous;

����� (B) Any buildings, improvements and structures on the property; and

����� (C) Any easements, rights and appurtenances belonging to the property submitted to the condominium form of ownership under this chapter; and

����� (b) With respect to property located outside this state, the property that has been committed to the condominium form of ownership in accordance with the jurisdiction within which the property is located.

����� (12) �Conversion condominium� means real property that a declarant intends to submit to the condominium form of ownership under this chapter on which there is a building, improvement or structure that was occupied prior to any negotiation and that is:

����� (a) Residential in nature, at least in part; and

����� (b) Not wholly commercial or industrial, or commercial and industrial, in nature.

����� (13) �Declarant� means a person who records a declaration under ORS 100.100 or a supplemental declaration under ORS 100.110.

����� (14) �Declaration� means the instrument described in ORS 100.105 by which the condominium is created and as modified by any amendment recorded in accordance with ORS