Instrument creating lease or lease option of real property for wind energy conversion system may be recorded
- • requirements
(1) An instrument creating a lease or an option to lease real property or the vertical space above real property for a wind energy conversion system or for wind measuring equipment shall be recordable under ORS 93.710 (Instruments or memoranda creating certain interests in realty).
(2) An instrument described in subsection (1) of this section shall contain:
(a) The parties’ names;
(b) A legal description of the real property involved;
(c) The nature of the interest created;
(d) The consideration paid for the transfer; and
(e) The terms or conditions, if any, under which the interest may be revised or terminated.
(3) As used in this section, "wind energy conversion system" means any device, supporting structure, mechanism or series of mechanisms that uses wind for the production of electricity or a mechanical application. [1981 c.590 §4]
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