[§514A-39.5]  Contingent final public
report.  (a)  Prior to the issuance of an effective date for a final public
report, the developer may request that the commission issue an effective date
for a contingent final public report.  The contingent final public report shall
be in the form and content as prescribed by the commission.



(b)  No effective date shall be issued by the
commission for a developer's contingent final public report unless there is
submitted to the commission:



(1)  Nonrefundable fees as provided in rules adopted
by the director of commerce and consumer affairs pursuant to chapter 91;



(2)  The proposed developer's contingent final public
report;



(3)  All documents, information, and other
requirements under section 514A-37 if the commission has not issued an
effective date for a preliminary public report;



(4)  An executed and recorded option agreement,
agreement of sale, deed, or master lease for the property;



(5)  The executed and recorded declaration, bylaws,
and floor plans as filed with the county officer having jurisdiction over the
issuance of permits for the construction of buildings, as provided by sections
514A-12, 514A-20, and 514A-81;



(6)  A verified statement showing all costs involved
in completing the project, including land payments or lease payments, real
property taxes, construction costs, architect, engineering, and attorneys'
fees, financing costs, provisions for contingency, etc., which must be paid on
or before the completion of construction of the project;



(7)  A verified estimate of the time of completion of
construction of the total project;



(8)  An executed copy of the escrow agreement which
complies with the requirements of section 514A-64.5 and, if purchaser's funds
are to be used for construction, the requirements of sections 514A-40(a)(6) and
514A-67;



(9)  A parking plan to include designated residence
parking stalls and guest parking, if any, exclusive of assignment to individual
apartments, if parking stalls are to be considered limited common elements; and



(10)  A letter of interest in financing construction of
the project from a lender authorized to do business in the State.



(c)  No effective date shall be issued by the
commission for  a contingent final public report for a project that includes
one or more existing structures being converted to condominium status unless
there is filed with the commission all items required under subsection (b) and:



(1)  A verified statement signed by an appropriate
county official that the project is in compliance with all zoning and building
ordinances and codes applicable to the project, and specifying, if applicable:



(A)  Any variances which have been granted to
achieve compliance; and



(B)  Whether the project contains any legal
nonconforming uses or structures as a result of the adoption or amendment of
any ordinances or codes;



(2)  A statement by the declarant, based upon a report
prepared by an independent Hawaii registered architect or engineer, describing
the present condition of all structural components and mechanical and
electrical installations material to the use and enjoyment of the project; and



(3)  A statement by the declarant of the expected
useful life of each item reported on in paragraph (2) or a statement that no
representations are made in that regard; provided that this paragraph and
paragraph (2) apply only to apartments that may be occupied for residential use
and have been in existence for five years or more.



(d)  A contingent final public report shall
expire nine months after the effective date of the report and, notwithstanding
anything to the contrary in section 514A-43, may not be extended or renewed.



(e)  A contingent final public report is
subject to sections 514A-41 and 514A-63. [L 1997, c 135, pt of §2]



 



Note



 



  Section 514A-81 referred to in subsection (b)(5) is repealed.