5482

COUNTY LOCAL LAWS

PRIOR TO OFFERING FOR SALE ANY CONDOMINIUM UNITS IN
A CONDOMINIUM PROJECT A DEVELOPER MUST PREPARE A PROPERTY
REPORT WHICH SHALL CONTAIN THE FOLLOWING INFORMATION
ABOUT THE CONDOMINIUM PROJECT:

A,     A STATEMENT   INDICATING NAME AND ADDRESS OF THE
DEVELOPER AND OWNER INCLUDING ALL PARTNERS OF A
PARTNERSHIP OR ALL OFFICERS AND DIRECTORS OF A
CORPORATION AS WELL AS THE FOLLOWING:

(1)    ALL INDIVIDUALS WITH A FINANCIAL
INTEREST IN THE OFFERING EXCEPT STOCKHOLDERS IN
CORPORATIONS SUBJECT TO THE REGISTRATION REQUIREMENTS OF
THE FEDERAL SECURITIES LAW.

(2)    ALL PROFESSIONALS OR PROFESSIONAL FIRMS
INVOLVED IN THE CONDOMINIUM DEVELOPMENT INCLUDING, BUT
NOT LIMITED TO, ARCHITECTS, CONTRACTORS, ATTORNEYS,
ENGINEERS AND ACCOUNTANTS.

B.     A DESCRIPTION OF THE CONDOMINIUM PROJECT IN
ADDITION TO THE LEGAL DOCUMENTS DESCRIBED IN PARAGRAPH D.
OF THIS SUBSECTION:

(1) MAP OR PLAT SHOWING SIZE AND DIMENSIONS
OF THE CONDOMINIUM PROJECT TOGETHER WITH ALL
IMPROVEMENTS, INCLUDING RECREATIONAL FACILITIES, PROPOSED
CONSTRUCTION AND PRESENT AND PLANNED LOCATION OF STREETS
AND ROADS.

(I)    DESCRIPTION OF THE CONDOMINIUM
UNITS OFFERED AND THE NATURE AND EXTENT OF INDIVIDUAL
OWNERSHIP IN SUCH CONDOMINIUM UNITS.

(II)   DESCRIPTION AND NATURE AND EXTENT
OF OWNERSHIP OF ALL COMMON ELEMENTS, GENERAL AND LIMITED.

(III)  DESCRIPTION, NATURE AND OWNERSHIP
OF ALL PROPERTY AND FACILITIES ON THE SITE WHICH ARE NOT
PART OF THE CONDOMINIUM.

(IV)   DESCRIPTION OF ALL EXISTING AND
PROPOSED RECREATIONAL FACILITIES AND OTHER FACILITIES
WITHIN THE CONDOMINIUM PROJECT.

(V)    LOCATION, NATURE AND OWNERSHIP OF
STREETS AND ROADS ON AND CONTIGUOUS TO THE SITE.

(VI)   DRAWINGS, ARCHITECTURAL PLANS OR
OTHER SUITABLE DOCUMENTS SETTING FORTH THE NECESSARY
INFORMATION FOR LOCATION, MAINTENANCE AND REPAIR OF ALL
CONDOMINIUM FACILITIES. (SUCH ITEMS SHALL BE
INCORPORATED IN THE PROPERTY REPORT BY REFERENCE, SHALL