2980                                         LAWS OF MARYLAND                                     Ch. 579

(II)  A STATEMENT THAT THE PROJECT IS A
TIME-SHARE PROJECT; AND

(III)  THE FOLLOWING, IN CONSPICUOUS TYPE:

"THIS PUBLIC OFFERING STATEMENT CONTAINS IMPORTANT MATTERS
TO BE CONSIDERED IN ACQUIRING A TIME-SHARE. THE STATEMENTS
CONTAINED HEREIN ARE ONLY SUMMARY IN NATURE. A PROSPECTIVE
PURCHASER SHOULD REFER TO ALL REFERENCES, EXHIBITS THERETO,
CONTRACT DOCUMENTS, AND SALES MATERIALS. YOU SHOULD NOT RELY
UPON ORAL REPRESENTATIONS AS BEING CORRECT. REFER TO THIS
DOCUMENT AND ACCOMPANYING EXHIBITS FOR CORRECT REPRESENTATIONS.
THE SELLER IS PROHIBITED FROM MAKING ANY REPRESENTATIONS WHICH
CONFLICT WITH THOSE CONTAINED IN THE CONTRACT, THIS PUBLIC
OFFERING STATEMENT, AND THE TIME-SHARE INSTRUMENT.";

(2)  A SUMMARY OF ALL STATEMENTS REQUIRED TO BE IN
CONSPICUOUS TYPE IN THE OFFERING STATEMENTS AND IN ALL EXHIBITS
THERETO;

(3)  A SEPARATE INDEX OF THE CONTENTS AND EXHIBITS OF
THE PUBLIC OFFERING STATEMENT;

(4)  A TEXT, WHICH SHALL INCLUDE, WHERE APPLICABLE,
THE DISCLOSURES SET FORTH IN PARAGRAPH (5) AND A CROSS-REFERENCE
TO THE LOCATION IN THE PUBLIC OFFERING STATEMENT OF EACH EXHIBIT;

(5)  A DESCRIPTION OF THE TIME-SHARE PLAN, INCLUDING:

(I)  THE NAME AND PRINCIPAL ADDRESS OF THE
DEVELOPER AND THE LOCATION OF THE TIME-SHARE PROJECT;

(II)  A GENERAL DESCRIPTION OF THE TIME-SHARE
PROJECT AND THE TIME-SHARE UNITS, INCLUDING THE NUMBER OF UNITS
IN THE TIME-SHARE PROJECT AND ANY LARGER PROJECT OF WHICH IT IS A
PART, AND THE SCHEDULE OF COMMENCEMENT AND COMPLETION DATES OF
ALL IMPROVEMENTS;

(III)  AS TO ALL UNITS OWNED OR OFFERED BY THE
DEVELOPER IN THE SAME PROJECT:

1.  THE TYPES AND NUMBERS OF UNITS;

2.  IDENTIFICATION OF UNITS THAT ARE
TIME-SHARE UNITS;

3.  THE TYPES AND DURATIONS OF THE
TIME-SHARE;

4.  THE MAXIMUM NUMBER OF UNITS THAT MAY
BECOME PART OF THE TIME-SHARE PROJECT, IF KNOWN; AND

5.  A STATEMENT OF THE MAXIMUM NUMBER OF
TIME-SHARES THAT MAY BE CREATED OR THAT THERE IS NO MAXIMUM;