§514B-83 Developer's public report.

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A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)A developer's public report shall contain:

(1)The name and address of the project, and the name, address, telephone number, and electronic mail address, if any, of the developer or the developer's agent;

(2)A statement of the deadline, pursuant to section 514B‑89, for completion of construction or, in the case of a conversion, for the completion of any repairs required to comply with section 514B‑5, and the remedies available to the purchaser, including but not limited to cancellation of the sales contract, if the completion of construction or repairs does not occur on or before the completion deadline;

(3)A breakdown of the annual maintenance fees, which includes the annual reserve contributions based on a reserve study, and the monthly estimated cost for each unit, certified to have been based on generally accepted accounting principles, and a statement regarding when a purchaser shall become obligated to start paying the fees pursuant to section 514B-41(b);

(4)A description of all warranties for the individual units and the common elements, including the date of initiation and expiration of any such warranties, or a statement that no warranties exist;

(5)A summary of the permitted uses of the units and, if applicable, the number of units planned to be devoted to a particular use;

(6)A description of any development rights reserved to the developer or others;

(7)A declaration, subject to the penalties set forth in section 514B‑69(b), that the project is in compliance with all county zoning and building ordinances and codes, chapter 205, including section 205-4.6 where applicable, and all other county permitting requirements applicable to the project, pursuant to sections 514B‑5 and 514B‑32(a)(13); and

(8)Any other facts, documents, or information that would have a material impact on the use or value of a unit or any appurtenant limited common elements or amenities of the project available for an owner's use, or that may be required by the commission.

(b)A developer shall promptly amend the developer's public report to report any pertinent or material change or both in the information required by this section. [L 2005, c 93, pt of §4; am L 2014, c 49, §8; am L 2022, c 62, §2]