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Section
3. Subsection (2) of section 190.009, Florida |
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Statutes, is amended to read: |
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190.009 Disclosure
of public financing.-- |
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(2) The
Division of Florida Land Sales, Condominiums, |
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Homeowners'
Associations, and Mobile Homes of the Department of |
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Business and Professional Regulation
shall ensure that |
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disclosures made by developers
pursuant to chapter 498 meet the |
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requirements of subsection (1). |
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Section
4. Section 190.048, Florida Statutes, is amended |
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to read: |
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190.048 Sale
of real estate within a district; required |
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disclosure to purchaser.-- |
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(1)(a) Subsequent
to the establishment of a district under |
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this chapter, each contract for the
initial sale of a parcel of |
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real property and each contract for
the initial sale of a |
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residential unit within the district
shall include as a separate |
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addendum to
the contract, immediately prior to the space |
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reserved in the contract for the
signature of the purchaser, the |
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following disclosure statement in
boldfaced and conspicuous type |
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which is larger than the type in the
remaining text of the |
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contract: "THE (Name
of District) COMMUNITY DEVELOPMENT |
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DISTRICT MAY IMPOSE AND LEVY TAXES OR
ASSESSMENTS, OR BOTH TAXES |
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AND ASSESSMENTS, ON THIS PROPERTY.
THESE TAXES AND ASSESSMENTS |
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PAY THE CONSTRUCTION, OPERATION, AND
MAINTENANCE COSTS OF |
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CERTAIN PUBLIC FACILITIES AND SERVICES
OF THE DISTRICT AND ARE |
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SET ANNUALLY BY THE GOVERNING BOARD OF
THE DISTRICT. THESE TAXES |
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AND ASSESSMENTS ARE IN ADDITION TO
COUNTY AND OTHER LOCAL |
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GOVERNMENTAL TAXES AND ASSESSMENTS AND
ALL OTHER TAXES AND |
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ASSESSMENTS PROVIDED FOR BY LAW." |
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(b) The
disclosure statement in paragraph (a) shall also |
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fully disclose all
covenants and restrictions to which the |
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property is
subject. This addendum shall disclose any existing |
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agreement between a
developer and other party that obligates the |
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purchaser of the
unit to additional taxes, assessments, or fees |
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within 10 years
following the sale of the unit. Such disclosure |
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shall provide a
reasonable estimate of the first 3 years for |
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each tax,
assessment, or fee. Such disclosure shall be provided |
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to the purchaser
within 10 days after the execution of the sales |
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contract;
otherwise, the contract may be voided at the election |
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of the purchaser
and any deposits shall be returned in full. |
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However, such
disclosure may be provided to the purchaser later |
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than 10 days after
the execution of the sales contract if the |
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closing date has
been extended by an additional 10 days. |
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(2)(a) Failure
to provide the disclosure statement as |
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required in
subsection (1) within 10 days shall constitute a |
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rebuttable
presumption of willful noncompliance with subsection |
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(1) and shall
result in a fine of $2,500 for each violation, up |
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to a maximum of
$10,000, payable to the prospective buyer, and |
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shall include
reasonable attorney's fees and collection costs, |
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due 30 days after
the execution or voiding of the sales |
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contract. |
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(b) The
developer and sales agent shall submit an annual |
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report to the
Department of Community Affairs that certifies |
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compliance with
this section and payment of any related fines |
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and criminal
penalties for such noncompliance as may be passed |
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by the Legislature.
Failure by the developer or sales agent to |
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provide an annual
report shall result in a $50,000 fine payable |
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to the department. |
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Section
5. Section 190.0485, Florida Statutes, is amended |
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to read: |
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190.0485 Notice
of establishment.--Within 30 days after |
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the effective date of a rule or
ordinance establishing a |
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community development district under
this act, the district |
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shall cause to be recorded in the
property records in the county |
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in which it is located a "Notice
of Establishment of the |
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__________ Community Development
District." The notice shall, at |
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a minimum, include the legal
description of the district and a |
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copy of the disclosure statement
specified in s. 190.048(1)(a). |