42-79 New 1327 Housing - Condos - Laserfiche WebLink

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- 9 - (7) A statement as to recreational facilities, including a statement of whether, and under what circumstances, the unit owners arerequ;red to be members of, support, or participate financially other than as part of their common expenses in recreational facil ities, such as, but not limited to, health clubs, exercise rooms, tennis courts, swimming pools, party rooms and golf putting greens. If any recreational facility is not part of the common areas, charges for its use s'ha 11 not exceed charges customarily madefûr similar facilities in the City or in surrounding communities. a nd the statement shall so specify. Additionally, if any recreational facility is not part of the common areas, the following warning shall be inserted in a type size and style equal to at least twenty (20) point bold type: "THE (HERE NAME FACILITIES) ARE NOT INCLUDED IN THE COMMON FACILITIES. THESE FACILITIES ARE AVAILABLe TO UÑIT OWNERS FOR (HERE DESCRIBE MONTHLY CHARGE AND INVITATION FEE). UNIT OWNeRS ARE/ARE NOT (AS APPLICABLE) REQUIReD TO PARTICIPATE FINANCIALLY" (8) A statement as to parking facilities, including a description of the location, ownership and availability to unit owners and the general public of parking associated with the condominium. If all such parking facilities are not (a) part of the common areas, or (b)d;vided as individual paTkihg spaces, among and designated as being part of the units, the parking facilities must be legally dedicated to the exclusive use of thé conversion condominium development and charges for the use of the parking facilities shall not exceed charges customarily made for similar facilities in the City or surrounding communities, and the statement shall so specify. Furth~r, the following statement shall be inserted in a type size and equal to at least twenty (20) paint bold type: "PARKING FACILITIES ASSOCIATED WITH THIS BUILDING ARE NOT OWNED INDIVIDUALLY OR IN COMMON BY THE UNIT OWNERS." (g) A statement conspicuously displayed on th~ first page of each copy of the public offering statement in a type size and style equal to at least twenty(20) point bold type: "WARNING: ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING THE REPRESENTATIONS OF THe DEVELOPER AND ARE NOT BINDING ON THE DEveLOPER. REFER TO THIS PUBLIC OFFERING STATEMENT FOR CORRECT REPRESENTATIONS," (10) The signature of the executive officer of the developer to a statement affirming under oath that the public offering statement is; and any supplements, modifications and amendments are true, full, complete and correct as he truly belièves. (b) Amendments to Public Offering Statement. The developer shall amend the public offering statement from time to time when any material changes occur in any matter contained therein. Amendments shall be made as soon as practicable after such material change occurs or the developer has reason to know of such material change, and a public offering statement is not current unless all amendments are incorporated therein.