(i) The owner should be aware that builders of new homes in the
State of Maryland are not required to be licensed by the State and are not licensed in
most local jurisdictions; [and]

(ii) Without a new home warranty or other express warranties, the
owner may be afforded only certain limited implied warranties as are provided by
law; AND

(III) 1. DESCRIBES ANY HAZARDOUS OR REGULATED MATERIALS,
INCLUDING ASBESTOS, LEAD-BASED PAINT, RADON, METHANE, UNDERGROUND
STORAGE TANKS, LICENSED LANDFILLS, UNLICENSED LANDFILLS, LICENSED
RUBBLE FILLS, UNLICENSED RUBBLE FILLS, OR OTHER ENVIRONMENTAL HAZARDS,
PRESENT ON THE SITE OF THE NEW HOME OF WHICH THE BUILDER HAS ACTUAL
KNOWLEDGE; OR

2. STATES THAT THE BUILDER IS MAKING NO
REPRESENTATIONS OR WARRANTIES AS TO WHETHER THERE IS ANY HAZARDOUS OR
REGULATED MATERIAL ON THE SITE OF THE NEW HOME;

(2) The owner shall acknowledge in writing that the owner understands
that the builder does not participate in a new home warranty security plan and that
the owner has read and understood the disclosure pursuant to paragraph (1) of this
subsection; and

(3) Any purchase or construction contract entered into which does not
contain the acknowledgment required by paragraph (2) of this subsection is voidable
by the owner.

(b) (1) An owner who has made the acknowledgment described in subsection
(a)(2) of this section may rescind the contract within 5 working days from the date of
the contract by providing the builder with written notice of the owner's rescission of
the contract; and

(2) Upon rescission, the owner shall be entitled to a refund of any money
paid to the builder for the new home.

10-604.

(b) A builder who has disclosed that the builder participates in a new home
warranty security plan shall:

(1) Furnish to the owner at the time of the purchase or construction

contract:

(i) The name and phone number of the builder's new home
warranty security plan;

(ii) Details of the warranty coverage provided under the plan; and

(iii) In a form to be determined by the Secretary, evidence that:

1. The builder currently is a participant in good standing
with a plan that satisfies the requirements of § 10-606(a) of this subtitle; and