HARRY HUGHES, Governor

1479

THE RESERVE FUND FOR REPAIR AND REPLACEMENT OR A STATEMENT
THAT THERE IS NO SUCH RESERVE FUND;

(6)  A copy of any lease to which it is
anticipated the unit owners or the council of unit owners
will be a party following closing;

(7)  A description of any contemplated expansion
of the condominium with a general description of each stage
of expansion and the maximum number of units that can be
added to the condominium;

(8)  A copy of the floor plan of the unit;

(9)  A description of any recreational or other
facilities which are to be used by the unit owners and
maintained by them or by the council of unit owners and a
statement as to whether or not they are to be part of the
common elements;

(10)  A statement as to whether streets within
the condominium are to be dedicated to public use or
maintained by the council of unit owners; [and]

(11)  A STATEMENT OF ANY JUDGMENTS AGAINST THE
COUNCIL OF UNIT OWNERS AND THE STATUS OF ANY PENDING SUITS
TO WHICH THE COUNCIL OF UNIT OWNERS IS A PARTY;

(12)  A DESCRIPTION OF THE NATURE AND OWNERSHIP
OF ALL PROPERTY AND FACILITIES ON THE SITE WHICH ARE NOT
PART OF THE CONDOMINIUM;

[(11)] (13) In the case of condominiums
containing buildings substantially completed more than
[five] 5 years prior to the recordation of the declaration,
a statement of the physical condition and state of repair of
the major structural, mechanical, electrical, and plumbing
components of the improvements to the extent reasonably
ascertainable AND ESTIMATED REPAIR COSTS. The vendor is
entitled to rely on the reports of architects or engineers
authorized to practice their profession in this State[.];

(14)  A DESCRIPTION OF ANY PROVISION IN THE
DECLARATION OR BYLAWS LIMITING THE DURATION OF DEVELOPER
CONTROL OR REQUIRING THE PHASING-IN OF UNIT OWNER
PARTICIPATION, OR A STATEMENT THAT THERE IS NO SUCH
PROVISION; AND

(15)  ANY OTHER INFORMATION REQUIRED BY
REGULATION DULY ADOPTED AND ISSUED BY THE SECRETARY OF
STATE.

(C) THE PUBLIC OFFERING STATEMENT MAY NOT BE USED FOR
ANY PROMOTIONAL PURPOSE BEFORE REGISTRATION AND AFTERWARDS
ONLY IF IT IS USED IN ITS ENTIRETY. A PERSON MAY NOT
ADVERTISE OR REPRESENT THAT THE SECRETARY OF STATE HAS
APPROVED OR RECOMMENDED THE CONDOMINIUM, THE DISCLOSURE