1417.03 CANCELLATION OF CONTRACT.

   (a)   A purchaser may, at his election, cancel an executed contract between himself and the developer for the purchase of a condominium unit by delivering to the developer or his authorized agent written notice of cancellation at any time within three (3) days following the date the contract is signed by the purchaser.

   (b)   Upon receipt of a timely cancellation, the developer shall immediately refund any deposit, earnest money or other funds, and the parties shall have no further rights or liabilities under the contract.

(Ord. 80-81. Enacted 11-24-80.)