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Home My WebLink AboutORDINANCES-1980-103-O-80• • • 10/ 2/ 80 10/22/80 103-0-80 AN ORDINANCE Amending Sections 5-4-3-5 and 5-4-6-2 of the Evanston City Code Pertaining to Condominium Resales WHEREAS, the City Council of the City of Evanston has considered certain proposed changes to the Residential Condominium Ordinance which would make more specific the rights and obligations of Condominium as- sociations, sellers and purchasers in re -sale of existing units both as to contract cancellation, provision of information and inspection reports and liability of the Condominium Board; I . NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY it OF EVANSTON, COOK COUNTY, ILLINOIS: r� SECTION 1: That Title 5, Chapter 4 Sections 5-4-3-5 and 5-4-6-2 i� (B) of the City Code of the City of Evanston, 1979, as amended, be further amended to read as follows: "5-4-3-5: RESALE OF UNITS: r; A. A unit owner other than a declarant offering for sale his own unit shall provide the purchaser concurrently with the execution I of any contract for sale a copy of the declaration, bylaws and rules and regulations of the Association, and the items as de- scribed below. If the inspection report referred to in Sub- section 10 describes violations within the unit uncorrected at the time of the contract execution, which violations are in ex- cess of Five Hundred Dollars ($500.00) as determined by a con- tractor selected by mutual agreement of the unit owner and the j purchaser, the purchaser shall have five (5) business days from j receipt of the inspection report to cancel the contract. i 1. A statement setting forth (a) the amount of the monthly common expense assessment, (b) any unpaid common expense or special assessment currently due and payablefrom the selling unit owner, (c) the information on the total actual expenditures, I} by category, made for all repairs, maintenance, operation, or upkeep of the common areas of the building in which the unit i } is located within the last three (3) years as found in the regular books fo the Association. If the property has not, been occupied as a condominium for a period of three 3 ( ) years the information, if available, shall be provided for such lesser i time as the property has been so occupied. ,r I 'r r 10/22/80 'F �i 103-0-80 i �i 2. A statement of any other fees payable by the unit owners. 3. A statement of'any future capital expenditures .approved b ` the Association or the Board of Directors. • 4. A statement of the amount of the reserves for capital expendi- tures and of any portions of those reserves designated by the I Association for specified projects. i 5. The most recent regularly prepared balance sheet and income and expense statement, if any, of the Association. f! 6. The current operating budget of the Association. i� 7. A statement of any judgments against the Association, and !� the status of any pending suits to which the Association is a party, of which it has knowledge. t 8. A statement describing any insurance coverage provided for the benefit of unit owners. li �! 9. A statement of whether the board of managers has received written notice from any Federal, State or local government of any violations of any applicable Codes with respect to j! the unit or of the condominium common elements. w 10. The most recent inspection report of the common areas prepared s by the City of Evanston and no more than two years old describing ' the code violations contained in the common areas, and a current !, code inspection report on the violations contained within the C� unit being offered for sale. It shall be considered full com- pliance with this subsection if either the Association or the • unit owner, or both, provide the purchaser with an affidavit, or affidavits, indicating the request for inspections, of either ! the common elements or the unit, were made at least twenty (20) �! days prior to issuance of the statement. If such affidavit, or affidavits, are used, the purchaser shall be given a copy of the inspection report, or reports, as soon as possible after receipt from the City. Purchaser retains the right of cancella- tion following receipt of the City inspection report provided for under 5-4-3-5 (A). IE B. The Association, within ten (10) days after a written request by a unit owner, shall make a good faith effort to furnish accurate information necessary to enable the unit owner to comply with this 11 section. A unit owner delivering a statement of such information is not liable to the purchaser for any erroneous information from j• the Association, provided that the errors are unknown to the owner. C. A unit owner is not liable to a purchaser for the failure or delay Ey of the Association to provide such information in a timely manner. Inability to obtain any of the information shall be set forth in the sworn statement of the unit owner. The purchaser !' shall have five (5) days from receipt of such affidavit to void said contract for said failure to provide date. i, D. Immediately upon execution by both parties of a sales contract the seller shall provide to his condominium board the name and address of the purchaser and the board shall from that time on send du- plicates of all notices sent to seller to the purchaser.. E. If any special assessment is voted for a capital improvement between the provision of the statement of information described in section 5-4-3-5 (A) and the closing of the sale of the unit, and this !� assessment exceeds 5% of the contract sale price, said assessment -2- v • r i 10/22/80 103-0=80 shall be grounds for recision of the contract by the purchaser. £! Said recision shall be by a writing delivered to seller not more than five calendar days following receipt by the purchaser of the notice of the special assessment. Where, however, the seller notifies purchaser that seller shall assume the special assessment obligation, the purchaser may riot utilize this recision provision. F. This Section shall be attached to, incorporated into, and made part of the bylaws of all condominiums hereinafter created and I, shall apply to all resale contracts entered into subsequent to H the effective date of this Ordinance. i� "5-4-6-2: �j A. I PENALTIES: The Corporation Counsel may apply to any court of competent juris- diction to enjoin a violation which has been found to exist by the City as a result of an inspection. The penalty for such violation shall be not more than Five Hundred Dollars ($500.00) for each unit with respect to which the violation has occurred. Each day during which any unit has been advertised or offered and such advertisement or offer has not been withdrawn shall constitute a separate offense. B. Any person who wilfully makes an untrue or misleading statement of material facts, or wilfully omits to provide required data, in any document prepared pursuant to this Ordinance shall be guilty of a misdemeanor, and upon conviction, shall be subject to a fine of not more than Five Hundred Dollars ($500.00) for each day of continuing violations; in the event such person is a unit owner or a member of the Board of Managers, such fine, to the ex- tent it relates to a violation of Section 5-4-3-5, shall not exceed One Hundred Dollars ($100.00) for each day of continu- ing violation to a maximum of One Thousand Five Hundred Dollars ($1,500.00). SECTION 2: All ordinances or parts of ordinances in conflict herewith are hereby repealed. SECTION 3: This ordinance shall be in full force and effect from and after its passage, approval, and publication ;in the manner provided by law. I !Introduced 4¢C1� -?o 1980 Adopted /4 1980 i� I? Approved / 2 , 1980 (ATTEST: i! City Clerk �jApproved as to form: I rporation Counsel I� -3-