((a)) ** Operation, maintenance, and management contracts; penalty** Any contract or portion thereof which is entered into after , and which—

((1)) provides for operation, maintenance, or management of a condominium or cooperative association in a conversion project, or of property serving the condominium or cooperative unit owners in such project;

((2)) is between such unit owners or such association and the developer or an affiliate of the developer;

((3)) was entered into while such association was controlled by the developer through special developer control or because the developer held a majority of the votes in such association; and

((4)) is for a period of more than three years, including any automatic renewal provisions which are exercisable at the sole option of the developer or an affiliate of the developer,

((b)) ** Time of termination** Any termination under this section may occur only during the two-year period beginning on the date on which—

((1)) special developer control over the association is terminated; or

((2)) the developer owns 25 per centum or less of the units in the conversion project,

((c)) ** Vote of owners of units** A termination under this section shall be by a vote of owners of not less than two-thirds of the units other than the units owned by the developer or an affiliate of the developer.

((d)) ** Effective date of termination** Following the unit owners’ vote, the termination shall be effective ninety days after hand delivering notice or mailing notice by prepaid United States mail to the parties to the contract.