WILLIAM DONALD SCHAEFER, Governor                      Ch. 82

(15)] (10) (i) A brief description of zoning and other
land use requirements affecting the development; or

(ii) A written disclosure of where the
information is available for inspection;

[(16) A description of:

(i) Mortgages or deeds of trust on property
which is or may become common areas; and

(ii) If applicable, the terms and conditions
imposed by the mortgages or deeds of trust to have the common
areas released from the encumbrance of the mortgages or deeds of
trust;

(17) If mortgages or deeds of trust which have
priority over the declaration exist, a description of the
mortgages or deeds of trust and a statement as to whether the
holders of the mortgages or deeds of trust on the property within
the development have consented to the recordation of the
declaration;

(18)](11) A statement regarding:

(i) When MANDATORY homeowners association fees
or assessments will first be levied against owners of lots;

(ii) The procedure for increasing or decreasing
such fees or assessments;

(iii) How fees or assessments and delinquent
charges will be collected;

(iv) Whether unpaid fees or assessments are a
personal obligation of owners of lots;

(v) Whether unpaid fees or assessments bear
interest and if so, the rate of interest;

(vi) Whether unpaid fees or assessments may be
enforced by imposing a lien on a lot under the terms of the
Maryland Contract Lien Act; and

(vii) Whether lot owners will be assessed late
charges or attorneys' fees for collecting unpaid fees or
assessments and any other consequences for the nonpayment of the
fees or assessments;

[(19)](12) If any sums of money are to be collected
at settlement for contribution to the homeowners association
other than prorated fees or assessments, a statement of the
amount to be collected and the intended use of such funds; AND

- 1875 -