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<br />-5- <br /> <br />(") Disclosures. <br /> <br />1327.05 DISCLOSURES OF THE PUBLIC OFFERING STATEMENT. <br /> <br />The public offering statement shall disclose fully and accurately <br />the characteristics of the (onversion condominium development and the <br />units therein and all unusual and material circumstances and <br />features affecting the condomînium development. The public <br />offering statement shall not intentionally omit any material <br />fact or contain any untrue statement of a material fact and <br />shall contain all of the following: <br /> <br />(I) A statement indicating the names and addresses of: <br /> <br />(A) The developer and legal and beneficial owner, if <br />different, of the land and improvements, including <br />all general partners of a partnership, or all <br />directors and owners of ten percent (10%) or more of the <br />beneficial interest in the stock of a corporation. <br /> <br />(B) The mortgagees, the principal sales and management <br />agents, attorneys, accountants, architects, engineers <br />and contractors. <br /> <br />(2) A description of all condominium property and improvements, <br />includîng the following: <br /> <br />(A) <br /> <br />A general narrative description stating the <br />total number of units, a description of the types <br />of units, the price of each type of unit, and all <br />appliances and personal property included with <br />each uni b <br /> <br />(B) <br /> <br />A description of all of the common areas and <br />facilities and the share of ownership of each unit <br />in the common areas and facilities. Limited common <br />areas and facilities, if any, and their ownership <br />shall also be indicated. <br /> <br />(C) <br /> <br />A site plan showing location and dimensions of the conversion <br />condominium development and the land it occupies <br />together with all capital improvements, a typical floor plan, <br />and typical individual units plans, including dîmensions <br /> <br />A description of each of the capital improvements contem- <br />plated but not yet completed by the developer, including <br />the type and qU"lity of materials to be used, the <br />estim"ted cost, and the dates by which said capital <br />improvements shall be completed. <br /> <br />(D) <br /> <br />(E) <br /> <br />A description of the nature and ownership of all <br />improvements and sub-lots occupying the same zoning <br />lot, but which are not part of the conversion condominium <br />development and the locations, nature and ownership <br />of easements, streets~ roads, driveways and parking <br />facilities which are associated with the condominium <br />development. <br /> <br />(F) <br /> <br />A statement as to the maximum number of units the <br />developer intends to retain ownership of and/or to <br />transfer to persons who do not intend to reside <br />therein. <br /> <br />(G) A statement disclosing whether any units or common <br />areas or facilities in the conversion condoñlinium" development <br />may be used for commercial purposes, the nature <br />and extent of such uses, and the effect of such <br />uses, if any. on the condominium unit owners. <br /> <br />(H) A description of the nature of any restraints on the <br />free alienability and/or use of all or any part of <br />the conversion condominium developmen, ~xcluding residential <br />zoning use. If there are any restrictions upon the <br />free sale, transfer, conveyance. encumbrance or leasing <br />of a unit, the following statement shall be inserted in <br />a type size and style equal to at least twenty (20) <br />point bold type: <br />