Instruments for Time-Share Estates

Project instruments and time-share instruments creating time-share estates shall contain the following:

(a)the name of the village in which the property is situation;

(b)the legal description, street address and other description sufficient to identify the property;

(c)identification of time periods by letter, name, number or combination thereof;

(d)identification of time-share estates and where applicable, the method whereby additional time-share estates may be created;

(e)the formula, fraction or percentage of the common expenses and any voting rights assigned to each time-share estates and where applicable, to each unit in a project that is not subject to the time-share program; COL120106 CH. 47 T IME-SHARE O WNERSHIP

(f)any restrictions on the use, occupancy, alteration or alienation of time-share intervals;

(g)the ownership interest, if any, in personal property and provisions for care and replacement; and

(h)any other matters the developer deems appropriate.