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Section
3. Subsection (2) of section 190.009, Florida |
| 360 |
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 |
| 364 |
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 |
| 368 |
to read: |
| 369 |
190.048 Sale
of real estate within a district; required |
| 370 |
disclosure to purchaser.-- |
| 371 |
(1)(a) Subsequent
to the establishment of a district under |
| 372 |
this chapter, each contract for the
initial sale of a parcel of |
| 373 |
real property and each contract for
the initial sale of a |
| 374 |
residential unit within the district
shall include as a separate |
| 375 |
addendum to
the contract, immediately prior to the space |
| 376 |
reserved in the contract for the
signature of the purchaser, the |
| 377 |
following disclosure statement in
boldfaced and conspicuous type |
| 378 |
which is larger than the type in the
remaining text of the |
| 379 |
contract: "THE (Name
of District) COMMUNITY DEVELOPMENT |
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DISTRICT MAY IMPOSE AND LEVY TAXES OR
ASSESSMENTS, OR BOTH TAXES |
| 381 |
AND ASSESSMENTS, ON THIS PROPERTY.
THESE TAXES AND ASSESSMENTS |
| 382 |
PAY THE CONSTRUCTION, OPERATION, AND
MAINTENANCE COSTS OF |
| 383 |
CERTAIN PUBLIC FACILITIES AND SERVICES
OF THE DISTRICT AND ARE |
| 384 |
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 |
| 386 |
GOVERNMENTAL TAXES AND ASSESSMENTS AND
ALL OTHER TAXES AND |
| 387 |
ASSESSMENTS PROVIDED FOR BY LAW." |
| 388 |
(b) The
disclosure statement in paragraph (a) shall also |
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fully disclose all
covenants and restrictions to which the |
| 390 |
property is
subject. This addendum shall disclose any existing |
| 391 |
agreement between a
developer and other party that obligates the |
| 392 |
purchaser of the
unit to additional taxes, assessments, or fees |
| 393 |
within 10 years
following the sale of the unit. Such disclosure |
| 394 |
shall provide a
reasonable estimate of the first 3 years for |
| 395 |
each tax,
assessment, or fee. Such disclosure shall be provided |
| 396 |
to the purchaser
within 10 days after the execution of the sales |
| 397 |
contract;
otherwise, the contract may be voided at the election |
| 398 |
of the purchaser
and any deposits shall be returned in full. |
| 399 |
However, such
disclosure may be provided to the purchaser later |
| 400 |
than 10 days after
the execution of the sales contract if the |
| 401 |
closing date has
been extended by an additional 10 days. |
| 402 |
(2)(a) Failure
to provide the disclosure statement as |
| 403 |
required in
subsection (1) within 10 days shall constitute a |
| 404 |
rebuttable
presumption of willful noncompliance with subsection |
| 405 |
(1) and shall
result in a fine of $2,500 for each violation, up |
| 406 |
to a maximum of
$10,000, payable to the prospective buyer, and |
| 407 |
shall include
reasonable attorney's fees and collection costs, |
| 408 |
due 30 days after
the execution or voiding of the sales |
| 409 |
contract. |
| 410 |
(b) The
developer and sales agent shall submit an annual |
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report to the
Department of Community Affairs that certifies |
| 412 |
compliance with
this section and payment of any related fines |
| 413 |
and criminal
penalties for such noncompliance as may be passed |
| 414 |
by the Legislature.
Failure by the developer or sales agent to |
| 415 |
provide an annual
report shall result in a $50,000 fine payable |
| 416 |
to the department. |
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Section
5. Section 190.0485, Florida Statutes, is amended |
| 418 |
to read: |
| 419 |
190.0485 Notice
of establishment.--Within 30 days after |
| 420 |
the effective date of a rule or
ordinance establishing a |
| 421 |
community development district under
this act, the district |
| 422 |
shall cause to be recorded in the
property records in the county |
| 423 |
in which it is located a "Notice
of Establishment of the |
| 424 |
__________ Community Development
District." The notice shall, at |
| 425 |
a minimum, include the legal
description of the district and a |
| 426 |
copy of the disclosure statement
specified in s. 190.048(1)(a). |