Ch. 82

LAWS OF MARYLAND

(10)](8) A copy of the ESTIMATED proposed or actual
annual budget for the homeowners association for the current
fiscal year, including a description of the replacement reserves
for common area improvements, if any, and a copy of the CURRENT
projected budget for the homeowners association based upon the
development fully expanded in accordance with expansion rights
contained in the declaration;

[(11) (i) A copy or description of proposed or actual
management contracts, employment contracts, or other contracts or
agreements to which the homeowners association is intended to be
obligated; or

(ii) A written disclosure of where the
contracts are available for inspection;

(12) A description of any restrictions:

(i) Imposed by the declaration or the
homeowners association on owners of lots within the homeowners
association, including restrictions on architectural changes,
design, color, landscaping, or appearance;

(ii) On occupancy density;

(iii) On the kind, number, or use of vehicles;

(iv) On renting, leasing, mortgaging, or
conveying property; and

(v) On commercial activity;

(13)](9) A statement of[:

(i) Current] CURRENT or anticipated MANDATORY
fees or assessments to be paid by owners of lots within the
development for the use, maintenance, and operation of common
areas and for other purposes related to the homeowners
association[;]

[(ii) The services and materials anticipated to
be obtained with such fees or assessments; and

(iii) Whether] AND WHETHER the declarant or
vendor will be obligated to pay the fees in whole or in part;

[(14) A description of any requirement imposed by the
declaration or the homeowners association on owners of lots
within the development to maintain fire or other insurance on
improvements constructed on their lots and a statement of the
type and amount of insurance, if any, to be maintained by the
homeowners association;

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