§ 32-4-311. NOTIFICATION OF FEES OR ASSESSMENTS.

(a)

"Applicant" defined. In this section, "applicant" includes the successors and assigns of the applicant.

(b)

Notification of fee or assessment.

(1)

The applicant shall include the terms and conditions of the fee or assessment in each contract of sale for all lots within the subdivision, to which the applicant is a party.

(2)

Each contract for the sale of real property in the county served by public water or sewer facilities that is subject to an annual fee or assessment as provided for in this title shall contain a notice to the purchaser in the following form:

"Notice to purchasers of real estate in Baltimore County.

This property is subject to a fee or assessment charged, under the authority granted to developer pursuant to § 32-4-310 of the Baltimore County Code, which purports to cover or defray the cost of installing all or part of the public water or sewer facilities constructed by the developer of the subdivision known as ________. This fee or assessment is $________, payable annually in the month of________ to (name and address) (hereinafter called 'lienholder') until (date). There may be a right of prepayment or discount for early payment which may be ascertained by contacting the lienholder. The fee and assessment is a contractual obligation between the lienholder and each owner of this property, that runs with the land, and is not in any way a fee or assessment of Baltimore County."

(3)

The applicant shall allow the prepayment, at any time and without penalty, of all or part of the fee or assessment by discounting the annualized payments at an interest rate of 6% to determine their equivalent present value.

(c)

Annual notification. The applicant shall provide each property owner subject to the fee or assessment with annual notification of:

(1)

The annual amount due;

(2)

The remaining term; and

(3)

The total amount of any outstanding principal balance.

(d)

Notice on each plat of property. The applicant shall include on each plat of property to be affected by the proposed fee or assessment a notice stating that "the lots created by this subdivision plat are subject to a fee or assessment to cover or defray all or part of the developer's cost of installation of water and sewer facilities, pursuant to § 32-4-310 of the Baltimore County Code."

(e)

Failure to comply with requirements. The failure of an applicant to comply with the provisions of this section for any lot or unit in a subdivision shall void any obligation of the property owner to pay the fee or assessment for that lot or unit.

(1988 Code, §§ 26-246, 26-247) (Bill No. 38-98, § 6, 6-20-1998; Bill No. 79-01, § 2, 7-1-2004; Bill No. 75-03, § 26, 7-1-2004)