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Section 1. Orange County may repeal an ordinance adopted <br /> pursuant to Sections 17-18.1 of Chapter 460 of the 1987 Session <br /> Laws. Orange County may not adopt an ordinance pursuant to Sec- <br /> tions 17-18.1 of Chapter 460 of the 1987 Session Laws while an <br /> ordinance adopted pursuant to this Act is in effect. Chapel Hill <br /> may repeal an ordinance adopted pursuant to Section 1 of Chapter <br /> 936 of the 1985 Session Laws. Chapel Hill may not adopt an or- <br /> dinance pursuant to Section 1 of Chapter 936 of the 1985 Session <br /> Laws while an ordinance adopted pursuant to this Act is in <br /> effect. Carrboro may repeal an ordinance adopted pursuant to <br /> Section 2 of Chapter 357 of the 1985 Session Laws. Carrboro may <br /> not adopt an ordinance pursuant to Section 2 of Chapter 357 of <br /> the 1985 Session Laws while an ordinance adopted pursuant to this <br /> Act is in effect. <br /> Section 2. Whenever the sale of real property located in <br /> Orange County involves new construction, the seller shall prepare <br /> and sign, and the buyer shall receive and sign, a disclosure <br /> statement. The disclosure statement shall either be included in <br /> a contract of sale or contained in a separate document executed <br /> prior to the execution of a sales contract. This disclosure <br /> statement shall fully and completely disclose that the owner of <br /> the property at the time an occupancy permit is issued for the <br /> new construction or, if no occupancy permit is issued, the date <br /> the new construction is occupied, may be subject to a tax levied <br /> by the County and/or the District on the impact of land <br /> development. If a seller fails to make such a disclosure and the <br /> buyer suffers injury as a result of the seller's failure to <br /> 12 <br />