This chapter applies only to:
(1) a residential real estate subdivision that:
(A) consists of at least 4,600 homes;
(B) is located in whole or in part in a municipality with a population of more than 1.6 million located in a county with a population of 2.8 million or more; and
(C) has restrictions the terms of which are automatically extended but has a regular assessment that is established by a separate document that permits the assessment to expire and does not provide for extension of the term of the assessment; or
(2) a residential real estate subdivision that:
(A) consists of at least 750 homes;
(B) is located in two adjacent municipalities in a county with a population of 2.8 million or more; and
(C) has use restrictions the terms of which are automatically extended but has a regular assessment that is established by two separate documents that permit the assessment to expire and do not provide for extension of the term of the assessment.