NRS 116.3105

����� 1. Within 2 years after the executive board elected by the units� owners pursuant to NRS 116.31034 takes office, the association may terminate without penalty, upon not less than 90 days� notice to the other party, any of the following if it was entered into before that executive board was elected: ����� (a) Any management, maintenance, operations or employment contract, or lease of recreational or parking areas or facilities; or ����� (b) Any other contract or lease between the association and a declarant or an affiliate of a declarant. ����� 2. The association may terminate without penalty, at any time after the executive board elected by the units� owners pursuant to NRS 116.31034 takes office upon not less than 90 days� notice to the other party, any contract or lease that is not in good faith or was unconscionable to the units� owners at the time entered into. ����� 3. This section does not apply to: ����� (a) Any lease the termination of which would terminate the common-interest community or reduce its size, unless the real estate subject to that lease was included in the common-interest community for the purpose of avoiding the right of the association to terminate a lease under this section; or ����� (b) A proprietary lease.