Additional information.

CFR · 2024-01-01 · US · Title 12

(a) (2) If the developer exercises any control over the association, state whether any contracts have been executed between the association and the developer or any affiliate or principal of the developer. If there have been, briefly summarize the terms of the contracts, their purpose, their duration and the method and rate of payment required by the contract. State whether the association may modify or terminate the contracts after the owners assume control of the association. (3) State whether there is any agreement which would require the association to reimburse the developer, its affiliates or successors for any attorney's fees or costs arising from an action brought against them by the association or individual property owners regardless of the outcome of the action. (4) If the answer to paragraph (a)(2) or (a)(3) of this section is in the affirmative, disclosure may be required in § 1010.116(a) at the discretion of the Director. (5) Submit a copy of any membership agreement or similar document. (b) (2) State the type of sales to be made, (3) Describe the methods of advertising and marketing to be used for the subdivision. The description should include, but need not be limited to, information on such matters as to: (i) Whether the developer will employ his own sales force or will contract with an outside group; (ii) Whether wide area telephone solicitation will be employed; (iii) Whether presentations will be made away from the immediate vicinity of the subdivision and

official document · source cfr-2024 · id 12:§ 1010.216