Nevada § 116.4104 - Public offering statement: Common-interest communities subject to developmental rights

§ 116.4104. Public offering statement: Common-interest communities subject to developmental rights

If the declaration provides that a common-interest community is subject to any developmental

rights, the public offering statement must disclose, in addition to the information

required by NRS 116.4103 : 1. The maximum number of units that may be created; 2. A statement of how many or what percentage of the units that may be created will

be restricted exclusively to residential use, or a statement that no representations

are made regarding restrictions of use; 3. A statement of the extent to which any buildings or other improvements that may

be erected pursuant to any developmental right in any part of the common-interest

community will be compatible with existing buildings and improvements in the common-interest

community in terms of architectural style, quality of construction, and size, or a

statement that no assurances are made in those regards; 4. General descriptions of all other improvements that may be made and limited common

elements that may be created within any part of the common-interest community pursuant

to any developmental right reserved by the declarant, or a statement that no assurances

are made in that regard; 5. A statement of any limitations as to the locations of any building or other improvement

that may be constructed or made within any part of the common-interest community pursuant

to any developmental right reserved by the declarant, or a statement that no assurances

are made in that regard; 6. A statement that any limited common elements created pursuant to any developmental

right reserved by the declarant will be of the same general types and sizes as the

limited common elements within other parts of the common-interest community, or a

statement of the types and sizes planned, or a statement that no assurances are made

in that regard; 7. A statement that the proportion of limited common elements to units created pursuant

to any developmental right reserved by the declarant will be approximately equal to

the proportion existing within other parts of the common-interest community, or a

statement of any other assurances in that regard, or a statement that no assurances

are made in that regard; 8. A statement that all restrictions in the declaration affecting use, occupancy and

alienation of units will apply to any units created pursuant to any developmental

right reserved by the declarant, or a statement of any differentiations that may be

made as to those units, or a statement that no assurances are made in that regard;

and 9. A statement of the extent to which any assurances made pursuant to this section

apply or do not apply if any developmental right is not exercised by the declarant.