HARRY HUGHES, Governor

1481

must include at least the following:

(1)  A copy of the proposed contract of sale for
the unit;

(2)  A copy of the proposed declaration and
bylaws;

(3)  A copy of the proposed articles of
incorporation of the council of unit owners, if it is to be
incorporated;

(4)  A copy of any proposed management contract,
employment contract, or other contract affecting the use,
maintenance, or access of all or part of the condominium to
which it is anticipated the unit owners or the council of
unit owners will be a party following closing;

(5)  A copy of the projected annual operating
budget for the condominium including reasonable details
concerning the estimated monthly payments by the purchaser
for assessments, and monthly charges for the use, rental, or
lease of any facilities not part of the condominium;

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

You will have the right to cancel this contract,
without penalty, at any time (1) within 15 days following