HARRY HUGHES, Governor

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OR MORE OF THE VOTES, AND WITH THE EXPRESS WRITTEN CONSENT
OF THE MORTGAGEES HOLDING AN INTEREST IN THOSE UNITS AS TO
WHICH UNIT OWNERS VOTE AFFIRMATIVELY. ANY EASEMENT,
RIGHT-OF-WAY, LICENSE, OR SIMILAR INTEREST GRANTED BY THE
COUNCIL OF UNIT OWNERS UNDER THIS SUBSECTION SHALL STATE
THAT THE GRANT WAS APPROVED BY UNIT OWNERS HAVING AT LEAST
66 2/3 PERCENT OF THE VOTES, AND BY THE CORRESPONDING
MORTGAGEES.

11-126.

(a)  A contract for the initial sale of a unit to a
member of the public is not enforceable by the vendor
unless.-

(1)  [the] THE purchaser is given [at] ON OR
BEFORE the time a contract is entered into between the
[developer] VENDOR and [a] THE purchaser, a public offering
statement AS AMENDED containing all of the information set
forth in subsection (b); and

(2)  [the] THE contract of sale contains, in
conspicuous type, a notice of the purchaser's right to
receive a public offering statement and his recision rights
[in accordance with] UNDER this section.

(b)  The public offering statement [referred to in]
REQUIRED BY subsection (a) shall be sufficient for the
purposes of this section if it contains 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, AND RULES AND REGULATIONS;

(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 OF,
maintenance OF, or access [of] TO 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 ACTUAL ANNUAL OPERATING BUDGET
FOR THE CONDOMINIUM OR, IF NO ACTUAL OPERATING BUDGET
EXISTS, [A] A copy of the projected annual operating budget
for the condominium including reasonable details concerning:

(I) [the] THE estimated monthly payments
by the purchaser for assessments, [and]