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B. Prior to conveyance of any residential unit inside a conversion condominium, the declarant shall establish and maintain an account with a bank or different financial institution of the declarant’s selecting, containing a sum equal to 10 percent of the actual value of constructing repairs required in K.C.C. 16.04.890. Throughout the one yr guarantee interval, funds contained in the account shall be used completely for paying the precise value of creating repairs required, or for otherwise satisfying claims made under the warranty. The declarant shall by non-public action, in writing, notify the house owners’ association of the placement of the account and of any disbursements therefrom. Following expiration of the warranty period, any funds remaining within the account shall be disbursed to the declarant.

D. Certification by the division shall state that solely those defects found by the residential inspection have been corrected and that the certification doesn’t guarantee that every one relevant code violations have been corrected. No declarant shall use the division’s certification in any promoting nor shall a declarant indicate or indicate to anyone, for the purpose of inducing a person to purchase a condominium unit, that King County or any of its departments has «accredited» the premises or any unit for sale. (Ord. 18683 § 10, писарева 53 новосибирск 2018: Ord. 15802 § 71, 2007: Ord. 11923 § 2, 1995. Previously K.C.C. 16.04.055).