(a) All contracts for the sale of real estate located within the City shall include therein all covenants and restrictions of record running with the land or contain a warning stating that such property may have restrictions and covenants of record that could limit the uses of the property.
(b) Any buyer who discovers a private deed restriction, covenant of record, or warning required by this chapter that was not specifically set forth in the Contract of Sale shall have the right to rescind such transaction for one year after the date of the agreement.
(c) Buyers shall be entitled upon rescinding of such transaction to recover the contract price from the seller plus expenses incurred by the buyer in the transaction, less an amount for reasonable rental of the property during the period that buyer owns such property.
(1978 Code Secs. 1470.01, 1470.02)