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1 of Chapter 936 of the 1985 Session Laws. Except _as_`:;iia <br />>: »> - . <br />er. sew,rer:::;:;faci:: .tares:'::: Chapel Hill may not adopt <br />an ordinance pursuant to Section 1 of Chapter 936 of the 1985 <br />Session Laws while an ordinance adopted pursuant to this Act is in <br />effect. Carrboro may repeal` `z<at of an ordinance adopted <br />pursuant to Section 2 of Chapter 357 of the 1985 Session Laws. <br />�... :.. : :W'i... i Carrboro <br />may 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 new <br />construction or, if no occupancy permit is issued, the date the <br />new construction is occupied, may be subject to a tax levied by <br />the County and /or the District on the impact of land development. <br />if a seller fails to make such a disclosure and the buyer suffers <br />injury as a result of the seller's failure to disclose, the seller <br />shall be liable to the buyer to the extent of the buyer's injury. <br />Section 3. This Act is effective upon ratification. <br />13 <br />