Ch. 82

LAWS OF MARYLAND

(2) IN SATISFYING A VENDOR'S REQUEST FOR ANY
INFORMATION DESCRIBED UNDER SUBSECTION (B) OF THIS SECTION, A
HOMEOWNERS ASSOCIATION:

(I) SHALL BE ENTITLED TO DIRECT THE VENDOR TO
OBTAIN SUCH INFORMATION FROM THE DEPOSITORY FOR ALL DISCLOSURES
CONTAINED IN THE DEPOSITORY AFTER JUNE 30, 1989; AND

(II) MAY NOT BE REQUIRED TO SUPPLY A VENDOR
WITH ANY INFORMATION WHICH IS CONTAINED IN THE DEPOSITORY.

11B-106.

(a) A contract for the resale of a lot within a
development, or for the initial sale of a lot within a
development containing 12 or fewer lots, to a member of the
public who intends to occupy or rent the lot for residential
purposes, is not enforceable by the vendor unless:

(1)  The purchaser is given, on or before entering
into the contract for the sale of such lot, OR WITHIN 20 BAYS
THEREOF CALENDAR DAYS OF ENTERING INTO THE CONTRACT, the
disclosures set forth in subsection (b) of this section; [and]

(2)  The purchaser is given any CHANGES IN MANDATORY
FEES AND PAYMENTS EXCEEDING 10 PERCENT OF THE AMOUNT PREVIOUSLY
STATED TO EXIST AND ANY OTHER substantial and material amendment
to the disclosures after they become known to the vendor[.]; AND

(3)  THE CONTRACT OF SALE CONTAINS A NOTICE IN
CONSPICUOUS TYPE, WHICH SHALL INCLUDE BOLD AND UNDERSCORED TYPE,
IN A FORM SUBSTANTIALLY THE SAME AS THE FOLLOWING:

"THIS SALE IS SUBJECT TO THE REQUIREMENTS OF THE MARYLAND
HOMEOWNERS ASSOCIATION ACT (THE "ACT"). THE ACT REQUIRES
THAT THE SELLER DISCLOSE TO YOU AT OR BEFORE THE TIME THE
CONTRACT IS ENTERED INTO, OR WITHIN 20 DAYS THEREOF, CERTAIN
INFORMATION CONCERNING THE DEVELOPMENT IN WHICH THE LOT YOU
ARE PURCHASING IS LOCATED. THE CONTENT OF THE INFORMATION
TO BE DISCLOSED IS SET FORTH IN § 11B-10B(B) OF THE ACT (THE
"MHAA INFORMATION") AS FOLLOWS: (THE NOTICE SHALL INCLUDE AT
THIS POINT THE TEXT OF § 11B-106(B) IN ITS ENTIRETY).

YOU HAVE 5 DAYS TO CANCEL THIS CONTRACT AFTER RECEIVING ALL

THE MHAA INFORMATION. YOU MUST CANCEL THE CONTRACT IN

WRITING, BUT YOU DO NOT HAVE TO STATE A REASON. IF YOU DO
CANCEL THE CONTRACT YOU WILL BE ENTITLED TO GET BACK ANY
DEPOSIT YOU MADE ON ACCOUNT OF THE CONTRACT. HOWEVER, IF
YOU DO NOT RETURN THE MHAA INFORMATION TO THE SELLER WHEN
YOU RESCIND, THE SELLER MAY KEEP OUT OF YOUR DEPOSIT THE
COST OF REPRODUCING THE MHAA INFORMATION, OR $100, WHICHEVER
AMOUNT IS LESS. THE SELLER MUST ALSO PROVIDE YOU WITH
COPIES OF ANY SUBSTANTIAL AND MATERIAL AMENDMENTS TO THE

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