HARRY HUGHES, Governor

1389

(b) The public offering statement 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, 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 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;

(5)  A copy of the actual annual operating budget for
the condominium or, if no actual operating budget exists, a copy
of the projected annual operating budget for the condominium
including reasonable details concerning:

(i) The estimated monthly payments by the
purchaser for assessments,

(ii) Monthly charges for the use, rental, or
lease of any facilities not part of the condominium,

(iii) The amount of the reserve fund for repair
and replacement and its intended use; and

(iv) Any initial capital contribution or
similar fee, other than assessments for common expenses, to be
paid by unit owners to the council of unit owners or vendor, and
a statement of how the fees will be used;

(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 or the
proposed condominium plats;

(9)  A description of any recreational or other
facilities which are to be used by the unit owners or 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;