a. Notice of intent to tenants - Before the formal filing and concurrently with its delivery to tenants, the declarant shall deliver to the Town of Schererville a copy of the Notice of Intent to Convert and an affidavit providing a list of the tenants to whom said notice was supplied and the date or dates of delivery or attempted delivery. a copy of this ordinance shall be attached to all such notices. Said notices shall contain the information required by the town as set forth in regulations promulgated hereunder.
b. Condominium Code Assessment Report - Within sixty (60) days after the Notice of Intent has been sent to tenants and to the Town pursuant to Section 7-102 'a' and upon payment of the application fee as set forth in Section 7-103 'd', a Condominium Code Assessment Report shall be prepared by the Town listing violations of all applicable codes existing as of that date.
c. Filing and receipt of the condominium instrument.
1. Before recording a declaration with the Lake County Recorder, the declarant must file with the Town of Schererville:
a) The condominium instruments, including the declaration, by-laws, plats, and condominium disclosure statement.
b) A report prepared by an independent licensed architect or engineer describing the items specified in Section 7-103 '2' g.
c) A copy of the affidavit referred to in Section 7-102 'a'.
2. The Town of Schererville shall inform the declarant in writing as to whether all documents required for filing by this ordinance have been submitted, said information to be provided no later than twenty-one (21) days after offering of said documents by the declarant. The filing date shall be that date, as stamped on the documents submitted, when all required documents are in the possession of the town. Documents required to be filed under this section shall be filed with the Town Council or their designee.
3. Upon receipt of the documents specified in subparagraph (1) for filing, the Town Council or their designee shall add the following stamped statement to the first page of the declaration:
"The Town of Schererville has received all the condominium instruments and other required documents for filing as of this date. Such receipt does not constitute approval by the Town of the contents, nor verification of the facts and statements contained therein."
A condominium can be created in the Town of Schererville only if that statement with the required signature is on the declaration at the time that the declaration is recorded with the Lake County Recorder.
4. Where a declarant has filed with the Town a Notice of Intent or other condominium instrument for a building that the Town has determined or subsequently determines in its Condominium Code Assessment Report not to be in compliance with all applicable building, zoning and housing codes, the declarant shall also file:
a) A verified statement showing the estimated cost and time of completion of the work necessary to correct each code violation on said report and source of said estimate.
b) Satisfactory evidence of sufficient funds to cover all of the costs in Section 7-102 c. 4. (a) above without the use of any purchaser's funds.
5. In addition to the requirements of this section, the declarant must file with the Town an exact copy of all condominium instruments recorded with the Lake County Recorder within ten (10) days after recording.
d. Contents of declaration - The declaration for a condominium must contain the following:
1. The name of the condominium, which must include the word "condominium" or be followed by the words "a condominium".
2. The provisions required by the Indiana Horizontal Property Law and this ordinance.
3. An allocation to each unit of a portion of votes in the association and a percentage of the common expenses of the association, both of which shall be in the same ratio as the percentage of ownership in the common elements of the condominium.
e. Conveyance with uncompleted items: Security.
1. Title to any sold unit shall not be conveyed before correction of all code violations within that unit except that non-life safety items that could not, because of weather conditions, be completed or corrected at the time conveyance is scheduled may be covered by a unit escrow to be set up at or prior to closing for the benefit of the individual unit purchaser and covering the estimated cost of correction of those items. There shall also be an escrow set up at or prior to closing for contracted for but not completed non-code improvements within the unit. This may, but need not be, the same "unit escrows" as that covering code violations.
2. An escrow account or other satisfactory security shall be established prior to conveyance of title to the first unit, which escrow or other security shall be for the benefit of the Unit Owner's Association, shall be utilized for and be in an amount necessary to correct the code violations in the common areas and the contracted for but uncompleted non-code improvements of the common areas. Said "common area escrow" or other security shall have been established prior to conveyance of the first unit.
3. When the declarant has demonstrated pursuant to regulations that the above sections have been satisfied, the Town Council or their designee shall cause to be issued a certificate of approval to convey title to purchasers. The Town shall within fifteen (15) days of a request for this certificate provide either the certificate or a list of outstanding violations.
(Ord. No. 887, § 5, 5-12-82)