(A) There shall be no clause in the sales contract between the developer and the prospective purchaser of a condominium unit that would create an exclusive sales agreement with a real estate agent as to the subsequent sale of the condominium unit. Any condominium owner shall have the right to decide what agent, if any, shall be used in the subsequent sale of a condominium unit.
(B) A unit owner other than a developer offering for sale his own unit shall provide to the purchaser concurrently with execution of any contract for sale a copy of the bylaws and rules and regulations of the association and keep the following information:
1. A statement setting forth:
(a) 1) The amount of the monthly common expense assessment, 2) any unpaid common expense or special assessment currently due and payable from the selling unit owner, 3) the information on the actual expenditures made for all repairs, maintenance, operation, or upkeep of the building in which the unit is located within the last three (3) years as found in the regular books of the association, and set forth tabularly with the budget of the condominium. If the property has not been occupied as a condominium for a period of three (3) years, the information shall be provided for the maximum period the property has been occupied;
(b) A statement of any future capital expenditures approved by the association or the board of directors;
(c) A statement of the amount of the reserves for capital expenditures and of any portions of those reserves designated by the association for specified projects;
(d) The most recent regularly prepared balance sheet and income and expense statement, if any, of the association;
(e) The current operating budget of the association;
(f) A statement of any judgments against the association and the status of any pending suits to which the association is a party, of which it has knowledge;
(g) A statement describing any insurance coverage provided for the benefit of unit owners;
(h) A statement of whether the board of managers has knowledge of any violations of all applicable housing and building codes or other applicable codes with respect to the unit or any other portion of the condominium;
(i) A copy of the bylaws and rules and regulations of the association.
(C) The association, within ten (10) days after a request by a unit owner, shall make a good faith effort to furnish a certificate containing the accurate information necessary to enable the unit owner to comply with this section. A unit owner delivering a certificate is not liable to the purchaser for any erroneous information from the association, provided that the errors are unknown to the owner. A purchaser is not liable for any unpaid assessment or fee greater than the amount set forth in the certificate prepared by the association. (Ord. 2532, 8-15-2005)