5487
MONTGOMERY COUNTY

B.           WITHIN FIFTEEN (15) DAYS AFTER THE SIGNING OF
THE CONTRACT OF SALE FOR A CONDOMINIUM UNIT, THE BUYER
MAY RESCIND, IN WRITING, THE CONTRACT OF SALE WITHOUT ANY
LIABILITY ON THE BUYER'S PART, AND SHALL THEREUPON BE
ENTITLED TO THE RETURN OF ANY DEPOSIT MADE ON ACCOUNT OF
THE CONTRACT.

C.            AFTER THE SIGNING OF THE CONTRACT OF SALE FOR
A CONDOMINIUM UNIT AND PRIOR TO THE CLOSING OF THE SALE,
THE DEVELOPER MUST DELIVER TO THE BUYER A COPY OF ANY
AMENDMENTS, SUPPLEMENTS OR MODIFICATIONS TO THE PROPERTY
REPORT. THE PROSPECTIVE PURCHASER MAY RESCIND, IN
WRITING, THE CONTRACT OF SALE WITHIN FIVE (5) DAYS AFTER
RECEIVING ANY OF THE AFORESAID ITEMS WITHOUT ANY
LIABILITY ON THE BUYER'S PART AND SHALL THEREUPON BE
ENTITLED TO THE RETURN OF ANY DEPOSIT MADE ON ACCOUNT OF
THE CONTRACT.

P.          IF THE DEVELOPER FAILS TO COMPLY WITH ANY OF

THE REQUIREMENTS OF THIS CHAPTER, THE BUYER MAY, AT ANY
TIME PRIOR TO THE CLOSING OF THE SALE, RESCIND, IN
WRITING, THE CONTRACT OF SALE, WITHOUT ANY LIABILITY ON
THE BUYER'S PART AND SHALL THEREUPON BE ENTITLED TO THE
RETURN OF ANY DEPOSITS MADE ON ACCOUNT OF THE CONTRACT.

E.          THE RIGHTS OF PROSPECTIVE PURCHASERS UNDER

THIS SECTION MAY NOT BE WAIVED AND ANY SUCH ATTEMPTED
WAIVER IS VOID.

11A-5. NOTICE; PROPERTY REPORT TO TENANTS; RIGHT TO
TERMINATE.

A.            PRIOR TO CONVERSION OF THE FIRST CONDOMINIUM
UNIT TO CONDOMINIUM STATUS FROM RENTAL OR OTHER LEGAL
STATUS, THE DEVELOPER SHALL GIVE 120 DAYS WRITTEN NOTICE
TO ALL TENANTS AS REQUIRED BY STATE LAW. AT THE TIME OF
RECEIVING NOTICE OF CONVERSION TENANTS SHALL BE PROVIDED
WITH A PROPERTY REPORT AS DESCRIBED IN SECTION 11A-3 OF
THIS CHAPTER.

B.            ANY TENANT WITH MORE THAN 30 DAYS REMAINING ON
A LEASE WHO RECEIVES A NOTICE OF CONVERSION TO
CONDOMINIUM STATUS SHALL AT ANY TIME AFTER RECEIPT OF
SUCH NOTICE HAVE THE RIGHT TO TERMINATE SUCH LEASE WITH
THIRTY (30) DAYS WRITTEN NOTICE TO THE LANDLORD. SUCH
TERMINATION SHALL BE WITHOUT PENALTY OR OTHER TERMINATION
CHARGE TO THE TENANT.

11A-6. UNLAWFUL REPRESENTATIONS.

THE FACT THAT A PROPERTY REPORT HAS BEEN FILED WITH
THE COUNTY SHALL NOT BE DEEMED A FINDING BY THE COUNTY
THAT THE PROPERTY REPORT IS TRUE AND ACCURATE OR THAT THE
COUNTY HAS IN ANY WAY PASSED UPON THE MERITS OR GIVEN