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tions which land developers commonly convey or ded

icate to local bodies or public utilities for the purpose

of bringing public services to the land being developed, taxes and assessments imposed by a State, by any other

public body having authority to assess and tax property, or by a property owners' association, which, under applicable State or local law, constitute liens on the prop

erty before they are due and payable, or beneficial property restrictions which would be enforceable by other lot owners or lessees in the subdivision, if—

"(i) the developer, prior to the time the contract of sale or lease is entered into, has furnished each purchaser or lessee with a statement setting forth in descriptive and concise terms all such res

ervations, taxes, assessments, which are applicable to the lot to be purchased or leased; and

"(ii) receipt of such statement has been acknowledged in writing by the purchaser or lessee; or

"(3) the sale or lease of real estate which is located within a municipality or county whose governing body specifies minimum standards for the development of subdivision lots taking place within its boundaries, when"(A) the subdivision meets all local codes and standards and is either zoned for single family resi

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dences or, in the absence of a zoning ordinance, is

limited exclusively to single family residences;

"(B) the real estate is situated on a paved, public street or highway which has been built to a standard acceptable to the municipality or county or a bond or other surety acceptable to the municipality or county in the full amount of the cost of the improvements has been posted to assure completion to such standards, and that authority has accepted or has agreed to accept the responsibility of maintaining the public street or highway;

"(C) at the time of closing, potable water, sanitary sewage disposal and electricity have been extended to the real estate or the municipality or county has agreed to install such facilities within

180 days. For subdivisions which do not have a central water or sewage disposal system, rather than installation of water or sewer facilities, there must

be assurances that an adequate potable water sup

ply is available year-round or that the land is ap

proved for the installation of septic tanks;

"(D) the contract of sale requires delivery

of a warranty deed to the purchaser within 180 days of the signing of the sales contract;

"(E) a policy of title insurance or title opinion.

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2

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4

5

S

9

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12

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14

15

16

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is issued in connection with the transaction showing

that at the time of closing, title to the real estate

purchased or leased is vested in the seller or lessor,

but nothing herein shall be construed as requiring the recordation of a lease;

"(F) cach and every purchaser or his or her spouse has made a personal on the lot inspection of the real estate which he purchased or leased, prior to the signing of a contract to purchase or lease;

"(G) there are no direct mail or telephone solicitations or offers of gifts, trips, dinners, or other such promotional techniques to induce perspective

purchasers or lessees to visit the subdivision or to purchase or lease a lot.

"(c) Section 1412 of such Act is amended by striking 17 the last sentence and inserting in lieu thereof 'In no event 18 shall any action be brought by a purchaser more than three 19 years after the signing of a contract or lease, not withstand20 ing delivery of a deed to a purchaser on the sale or assign21 ment of the purchaser's contract or agreement to a third 22 party."".

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(c) Section 1416 of such Act is amended by adding 24 at the end thereof the following:

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"(c) (1) In discharging his responsibilities under this

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1 title, the Secretary shall conduct all actions with respect 2 to rulemaking or adjudication in accordance with the provi3 sions of chapter 5 of title 5, United States Code.

4 "(2) The Secretary, by rule, shall prescribe the pro5 cedure applicable to every case pursuant to this title of 6 adjudication (as defined in section 551 of title 5, United 7 States Code) not required to be determined on the record. 8 after notice and opportunity for hearing. Such rule shall, 9 as a minimum, provide that prompt notice shall be given 10 of any adverse action or final disposition and that such notice 11 and the entry of any order shall be accompanied by a state12 ment of legal authority and other written reasons.".

No provision.

A. Self-determining 1) Lot size

Sales of lots over 5 acres each.

Sales of lots over 40 acres.

Developments containing fewer than 50 lots.

No change.