(1) After a master form instrument is recorded pursuant to ORS § 93.780, subject to subsection (3) of this section, the person that caused the master form instrument to be recorded may cause all or any of the provisions of the master form instrument to apply to real estate situated within the county in which the master form instrument was recorded by incorporating all or any of the provisions of the master form instrument by reference in a short form instrument, if the reference in the short form instrument states:

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(a) That the master form instrument was recorded in the county in which the short form instrument is offered for record;

(b) The date when and the book and page or pages where the master form instrument was recorded; and

(c) That a copy of the master form instrument was furnished to the party executing the short form instrument at or before the time the party executes the short form instrument.

(2) The recording of a short form instrument that incorporates by reference any provision of a master form instrument recorded as provided in ORS § 93.780 has like effect as if the incorporated provisions were set forth fully in the short form instrument.

(3) If a short form instrument recorded as provided in this section deviates in any respect from a recorded master form instrument and fails to describe the deviation as required by ORS § 93.802 (4), the portion of the short term instrument that deviates from the master form instrument is deemed not to be notice to third parties. [1969 c.583 3,5; 2012 c.6 § 4]