PROPERTY: ______________________________________________

DATE: ___________________________________________________

BROKER: ________________________________________________

NOTE: This Notice does not apply to (1) The initial sale of single family residential real property that has never been occupied or for which a certificate of occupancy has been issued (1) year before the Seller and Purchaser enter into a Contract of Sale; (2) a transfer that is exempt from the transfer tax under § 13-207 of the Tax-Property Article, except land installment contracts of sale under § 13-207(11) of the Tax-Property Article and options to purchase real property under § 13-207(12) of the Tax-Property Article; (3) a sale by a lender acquiring the real property by foreclosure or deed in lieu of foreclosure; (4) a sheriffs sale, tax sale, or sale by foreclosure, partition or by court appointed trustee; (5) a transfer by a fiduciary in the course of the administration of a decedant's estate, guardianship, conservatorship, or trust; (6) a transfer of single family residential real property to be converted by the buyer into a use other than residential use or to be demolished; or (7) sale of unimproved real property.

     Section 10-702 of the Real Property Article, Annotated Code of Maryland, requires you, as the seller of single family residential property improved by four or fewer single family units, to complete and deliver to the purchaser, on or before entering, into a contract of sale by you and the purchaser, EITHER:

(A) A written residential property condition disclosure statement on a form provided by the Maryland Real Estate Commission which discloses all defects or information of which you have actual knowledge in relation to the following:

(I) Water and sewer systems, including the source of household water, water treatment systems, and sprinkler systems;

(II) Insulation;

(III) Structural systems, including the roof, walls, floors, foundation and any basement;

(IV) Plumbing, electrical, heating, and air-conditioning systems;

(V) Infestation of wood-destroying insects;

(VI) Land use matters;

(VII) Hazardous or regulated materials; including asbestos, lead-based paint, radon, underground storage tanks, and licensed landfills; and

(VIII) Any other material defects known to you; OR

(B) A written residential property disclaimer statement on a form provided by the Maryland Real Estate Commission stating that:

(I) You make no representations or warranties as to the condition of the real property or any improvements on the real property; and

(II) The purchaser will be receiving the real property "as is", with all defects that may exist, except as otherwise provided in the contract of sale.

     In the case of a land installment contract (as defined in Section 10-101 of the Real Property Article), an option to purchase agreement, and a lease agreement containing an option to purchase provision, the completed Disclosure or Disclaimer Statement must be delivered to the purchaser before the execution of the contract of sale by the purchaser.

     At the time the completed Disclosure or Disclaimer Statement is delivered to the purchaser, the purchaser is required to date and sign a written acknowledgement of receipt, which shall be included in or attached to the contract of sale.

     You are hereby notified that, in certain circumstances, the purchaser has the right to rescind the contract of sale between you and the purchaser if you fail to complete and deliver to the purchaser the written Property Condition Disclosure or Disclaimer Statement. A purchaser who receives the completed Disclosure or Disclaimer Statement on or before entering into the contract of sale does not have the right to rescind the contract of sale based upon the information contained in the Disclosure or Disclaimer Statement. However, a purchaser who does not receive the completed Disclosure or Disclaimer Statement on or before entering into the contract of sale has the unconditional right, upon written notice to you or your agents:

(I) To rescind the contract of sale at any time before the receipt of the completed Disclosure Statement or within five (5) days following receipt of the Disclosure or Disclaimer Statement; and

(II) To the immediate return of any deposits made on account of the contract.

     The purchaser's right to rescind the contract of sale terminates if not exercised before making a written application to a lender for a mortgage loan, if the lender discloses in writing at or before the time loan application is made that the purchaser's right to rescind terminates on submission of the application.

     The purchaser's right to rescind shall also terminate within five (5) days following receipt of a written disclosure from the lender with which the purchaser may have applied for a mortgage loan if the lender's disclosure states that the purchaser's right to rescind the contract of sale terminates at the end of the five (5) day period.

The purchaser's rights under Section 10-702 may not be waived in the contract of sale and any attempted waiver is void. However, the purchaser's right to terminate the contract under Section 10-702 is waived conclusively if not exercised before:

(I) Closing or occupancy by the purchaser, whichever occurs first. In the event of a sale; or

(II) Occupancy, in the event of a lease with option to purchase.

     Information contained in a disclosure statement as completed and delivered by the seller does not constitute a warranty by the seller, expressed or implied, as to the condition of the real property or improvements thereon of which the seller has no actual knowledge or other conditions of which the seller has no actual knowledge. Nor does the disclosure statement constitute a warranty by the seller, expressed or implied, that the real property or the improvements thereon are fit for any particular intended use or purpose.

     If you elect to complete and deliver the Property Condition Disclosure Statement, rather than the Disclaimer Statement, the information contained in the completed Property Condition Disclosure Statement is your representation and not the representation of the real estate broker or salesperson, if any. You are not required to undertake or provide an independent investigation or inspection of the property in order to make the disclosures required by Section 10-702. You are not liable for an error, inaccuracy, or omission in the Disclosure Statement if the error, inaccuracy, or omission was based upon information that was not within your actual knowledge; or was provided by certain third parties as specified in Section 10-702.

     The purchaser has the right to obtain professional advice about the property or obtain an inspection of the property.

     The Disclosure Statement as completed and delivered to the purchaser is not a substitute for an inspection by an independent home inspection company and the purchaser may wish to obtain such an inspection.

     We, the undersigned seller(s) ackknowledge that we have read and have received a copy of this notice on the date indicated below and further ackknowledge that the real estate licensee(s) have informed us of our rights and obligations under Section 10-702 as herein provided.

     We, the undersigned seller(s) hereby elect(s) to (check and initial appropriate box):