5483
MONTGOMERY COUNTY

BE LOCATED AT THE SALES OFFICE SITE AND SHALL BE TURNED
OVER TO THE COUNCIL OF CONDOMINIUM UNIT OWNERS UPON
TRANSFER OF CONTROL BY THE DEVELOPER.)

(2)    PROJECTED COMPLETION DATES FOR PROPOSED
CONSTRUCTION, RENOVATION OR CONVERSION.

(3)    USES PERMITTED FOR INDIVIDUAL
CONDOMINIUM UNITS BY THE DECLARATION, BY-LAWS OF THE
CONDOMINIUM ASSOCIATION OR ORGANIZATION AND APPLICABLE
ZONING PROVISIONS.

(4) STATEMENT AS TO WHETHER OR NOT THE
CONDOMINIUM UNITS MAY BE RENTED.

(5)    STATEMENT OF TITLE, LISTING ALL
RESTRICTIONS OF RECORD AND THE CONDITION OF TITLE.

(6)    METHOD AND TIMING OF TRANSFER OF CONTROL
OVER THE CONDOMINIUM PROJECT TO A COUNCIL OF CONDOMINIUM
UNIT OWNERS, THE ASSOCIATION'S RELATIONSHIP WITH THE
DEVELOPER AND THE NATURE AND EXTENT OF ANY INTEREST
RETAINED BY THE DEVELOPER.

C. A STATEMENT OF ALL FINANCIAL ASPECTS OF THE
CONDOMINIUM PROJECT, INCLUDING BUT NOT LIMITED TO:

(1)    NAME OF CONSTRUCTION MORTGAGOR OR THE
INTERIM MORTGAGOR.

(2)    INSTITUTION OFFERING LONG TERM MORTGAGE
FINANCING, IF AVAILABLE, AND TERMS AND CONDITIONS OF SUCH
MORTGAGE.

(3)    NATURE AND EXTENT OF ANY PROTECTION OF
PURCHASER'S DEPOSITS IN ESCROW ACCOUNTS. IN THE VENT
THAT PURCHASERS' DEPOSITS ARE NOT BEING PLACED IN AN
ESCROW ACCOUNT THE FOLLOWING STATEMENT MUST BE INSERTED:
"THE DEVELOPER HAS MADE NO ARRANGEMENTS FOR PROTECTING
DEPOSITS FOR THE PURCHASE OF A CONDOMINIUM UNIT.
ACCORDINGLY, THERE IS A RISK THAT YOU WILL LOSE YOUR
DEPOSIT IF THE DEVELOPER BECOMES INSOLVENT."

(4)    STATEMENT OF FINANCIAL ABILITY TO
COMPLETE WITHIN A SPECIFIED PERIOD OF TIME CONSTRUCTION,
RENOVATION OR CONVERSION OF PROPOSED CONDOMINIUM UNITS
AND RECREATIONAL AND OTHER FACILITIES.

(5)    NATURE AND EXTENT OF ANY PROTECTION TO A
PROSPECTIVE PURCHASER IF THE DEVELOPER DEFAULTS ON
BLANKET ENCUMBRANCE. IF THERE IS NO PROTECTION TO
PURCHASERS FROM A DEVELOPER'S DEFAULT ON A BLANKET
ENCUMBRANCE THE FOLLOWING STATEMENT MUST BE INSERTED:
"THE DEVELOPER HAS MADE NO ARRANGEMENTS TO PROTECT THE