<?xml version='1.0' encoding='utf-8'?>
<section heading="Sec. 11A-6 Public Offering Statement - Regulations">
  <regulation heading="COMCOR 11A.06.01 Condominium Disclosure Documents, Public Offering Statement and Consumer Guide">
    <subsection heading="11A.06.01.01 Filing of Public Offering Statement and Consumer Guide">
      <paragraph indent="0">1.1   In the case of a conversion, the developer must file with the Office of Consumer Affairs, four (4) copies each of the Public Offering Statement and the Consumer Guide. The developer must provide the Office of Consumer Affairs with additional copies upon request. In the case of new construction, the developer must file with the Office of Consumer Affairs two (2) copies each of the Public Offering Statement and the Consumer Guide.</paragraph>
      <paragraph indent="0">1.2   The Consumer Guide must be printed on 8 ½"  x 11" paper and be in type no smaller than standard elite (except when reduced photocopies of actual documents are included). All pages must be numbered.</paragraph>
    </subsection>
    <subsection heading="11A.06.01.02 Developer Information">
      <paragraph indent="0">2.1   The Consumer Guide must contain the following information:</paragraph>
      <paragraph indent="3">a)   Name and address of developer.</paragraph>
      <paragraph indent="3">b)   Nature of the legal entity comprising the developer.</paragraph>
      <paragraph indent="3">c)   Names and addresses of all individuals or other legal entities who are partners or corporate officers or directors of the developer.</paragraph>
      <paragraph indent="3">d)   Names and addresses of all partners of any partnership, all officers and directors of any corporation, and all trustees of any trust.</paragraph>
      <paragraph indent="3">e)   Names and addresses of other condominiums built or converted within the preceding five years by the developer or by any person identified in Sections c and d, above, either individually or as a general partner in another developer.</paragraph>
      <paragraph indent="3">f)   Names and addresses of any lending institutions, or other sources, providing acquisition, construction, or interim financing.</paragraph>
      <paragraph indent="3">g)   Nature and extent of protection to the purchaser if the developer defaults on acquisition, construction, or interim financing, or on any blanket encumbrance.</paragraph>
      <paragraph indent="3">h)   Nature and extent of protection to the purchaser from mechanics’ liens.</paragraph>
      <paragraph indent="3">i)   Names and addresses of architects, engineers, or contractors involved in renovation work in a condominium conversion.</paragraph>
    </subsection>
    <subsection heading="11A.06.01.03 Purchase Information">
      <paragraph indent="0">3.1   Statement of sale prices</paragraph>
      <paragraph indent="3">a)   To the public for owner occupancy.</paragraph>
      <paragraph indent="3">b)   To the public for investment (if different from a, above).</paragraph>
      <paragraph indent="3">c)   To existing tenants for owner occupancy.</paragraph>
      <paragraph indent="3">d)   To existing tenants for investment (if different from c, above).</paragraph>
      <paragraph indent="0">3.2   Disposition of purchasers' deposits</paragraph>
      <paragraph indent="3">a)   Amount of deposit required.</paragraph>
      <paragraph indent="3">b)   Name and address of institution which will hold purchasers' deposits.</paragraph>
      <paragraph indent="3">c)   Nature and extent of protection of deposits.</paragraph>
      <paragraph indent="3">d)   Rate of interest, if any, to be earned.</paragraph>
      <paragraph indent="0">3.3   Estimated itemized monthly housing costs</paragraph>
      <paragraph indent="3">a)   Principal and interest</paragraph>
      <paragraph indent="3">b)   Taxes</paragraph>
      <paragraph indent="3">c)   Condominium fee</paragraph>
      <paragraph indent="3">d)   Fees for any facilities to be used by condominium owners which are not part of the condominium.</paragraph>
      <paragraph indent="3">e)   Deferred water and sewer charges</paragraph>
      <paragraph indent="3">f)   Special improvement assessments.</paragraph>
      <paragraph indent="0">3.4   Itemized list of costs included in condominium fee.</paragraph>
      <paragraph indent="0">3.5   Names and addresses of institutions offering long-term financing and terms of such financing.</paragraph>
      <paragraph indent="0">3.6   Estimated itemized closing costs.</paragraph>
      <paragraph indent="0">3.7   Date on which condominium regime was or will be established.</paragraph>
      <paragraph indent="0">3.8   Projected earliest and latest dates of settlement on individual units.</paragraph>
      <paragraph indent="0">3.9   Sample deed.</paragraph>
      <paragraph indent="0">3.10 Copy of sales brochure</paragraph>
      <paragraph indent="3">-   if published subsequently, a copy of the sales brochure must be filed with the Office of Consumer Affairs ten (10) days prior to public distribution.</paragraph>
      <paragraph indent="0">3.11   A statement providing the method and timing of transfer of control of the Council of Unit Owners to unit purchasers.</paragraph>
    </subsection>
    <subsection heading="11A.06.01.04 Condominium Description Information">
      <paragraph indent="0">4.1   The required description of the condominium must include but not be limited to:</paragraph>
      <paragraph indent="0">4.2   Description of units</paragraph>
      <paragraph indent="3">a)   Physical description of all residential units</paragraph>
      <paragraph indent="3">b)   Nature and extent of ownership of all residential units</paragraph>
      <paragraph indent="3">c )   Number and location of all non-residential units</paragraph>
      <paragraph indent="3">d)   Uses (e.g. professional, office, commercial, etc.) of all non-residential units</paragraph>
      <paragraph indent="3">e)   A statement of any restrictions on use of units.</paragraph>
      <paragraph indent="0">4.3   Description of common elements.</paragraph>
      <paragraph indent="0">4.4   Description of facilities to be used-by condominium owners which are not part of the condominium along with any fees for such use.</paragraph>
      <paragraph indent="0">4.5   Description of the division of maintenance responsibilities between the Council of Unit Owners and the individual unit owner. This description must include specific examples, particularly for doors, windows, and other items at the boundaries of units and common elements; limited common elements; and any items which are not part of the units but are the unit owner's obligation to maintain.</paragraph>
      <paragraph indent="0">4.6   Disclosure of developer ownership and/or plans or intentions of the developer for the development of any land contiguous to the condominium, including the projected dates for commencement and completion of such development.</paragraph>
      <paragraph indent="0">4.7   Itemization of all renovation and rehabilitation work to be performed on units and common elements.</paragraph>
      <paragraph indent="0">4.8   Projected completion dates for new construction or for each item of renovation and rehabilitation.</paragraph>
      <paragraph indent="0">4.9   Disclosure of all outstanding building or housing code violations.</paragraph>
      <paragraph indent="0">4.10   Disclosure of any pending litigation, liens, judgments or other matters of record with respect to the condominium, the land on which the condominium is built, or the rental facility to be converted to a condominium regime which could affect the developer's ability to convey clear title.</paragraph>
      <paragraph indent="0">4.11   In the case of a conversion, disclosure of all administrative, operating, management, capital, maintenance, and other costs of the rental facility for each of the three years immediately preceding conversion.</paragraph>
      <paragraph indent="0">4.12   Plat</paragraph>
      <paragraph indent="0">4.13   Statement of all warranties, including statutory implied warranties. If any purchaser will be asked to consent to any legally permitted exclusion or modification of any implied warranty, a copy of the written consent form to be used must be provided.</paragraph>
    </subsection>
    <subsection heading="11A.06.01.05 Certification of Information">
      <paragraph indent="0">5.1   The Consumer Guide must contain an affidavit, executed in accordance with State Law, by a senior executive officer of the developer, on behalf of the developer, certifying that the information, documents, and representations in the Consumer Guide, and any amendments, supplements, or modifications are full, true, complete and correct. The affidavit must further certify that the developer must carry out the promises, warranties, and obligations set forth in the Consumer Guide or has delineated who is responsible for promises, warranties, or obligations for which the developer is not responsible and has provided warnings required by law.</paragraph>
    </subsection>
    <subsection heading="11A.06.01.06 Consumer Warning">
      <paragraph indent="0">6.1   The cover of the Consumer Guide must contain the following warning, double-spaced and capitalized.</paragraph>
      <paragraph indent="3">"IT IS UNLAWFUL FOR ANYONE TO MAKE ANY REPRESENTATION THAT MONTGOMERY COUNTY, MARYLAND HAS PASSED UPON THE MERITS OF, OR GIVEN APPROVAL TO, THIS CONDOMINIUM. IT IS UNLAWFUL FOR ANYONE TO MAKE ANY REPRESENTATIONS WHICH DIFFER FROM THE REPRESENTAIONS IN THIS CONSUMER GUIDE OR IN THE PUBLIC OFFERING STATEMENT."</paragraph>
    </subsection>
    <subsection heading="11A.06.01.07 Severability">
      <paragraph indent="0">7.1   The provisions of this regulation are severable. If a court holds that a provision is invalid or inapplicable, the remainder of the regulation remains in effect.</paragraph>
    </subsection>
  </regulation>
  <regulation heading="COMCOR 11A.06.02 Notification to Tenants of Filing of Public Offering Statement and Consumer Guide">
    <subsection heading="11A.06.02.01 Notification to Tenants">
      <paragraph indent="0">1.1   Concurrently with the filing of the Public Offering Statement and Consumer Guide with the Office of Consumer Affairs, the developer must deliver a notice to each tenant advising that the Public Offering Statement and Consumer Guide have been filed with the Office of Consumer Affairs and that tenants have the right to review these documents.</paragraph>
    </subsection>
    <subsection heading="11A.06.02.02 Severability">
      <paragraph indent="0">2.1   The provisions of this regulation are severable. If a court holds that a provision is invalid or inapplicable, the remainder of the regulation remains in effect.</paragraph>
    </subsection>
  </regulation>
</section>