[Adopted 5-21-1987 by L.L. No. 9-1987]
It is the intent of this article to prevent the loss of contract
deposits and other moneys placed with builders in connection with
the construction and purchase of homes in the Village of Chestnut
Ridge.
This article shall apply to any person, firm or corporation
building any form of residence for resale within the Village of Chestnut
Ridge.
Upon application for a building permit to construct any residence
within the Village of Chestnut Ridge, the applicant shall furnish
to the Building Inspector, in addition to all other requirements of
law:
A. A copy of the contract of sale if one exists; and
B. Deliver a copy of the escrow agreement in conformity with this article,
unless the said agreement is incorporated within the contract.
C. In lieu of Subsections
A and
B hereof, a letter from the applicant indicating that the parcel has not yet been contracted for sale, but upon the entry into contract, the down payment will be held in escrow in conformity with this article.
This article shall not be construed to make the Village or any
agency or department thereof a party to a contract of sale of real
property nor an arbiter or guarantor of the terms of such a contract.
This article shall be enforced by the Building Inspector and
the Code Enforcement Officer of the Village of Chestnut Ridge.
Each and every violation of any of the provisions of this article
shall be punishable by a fine not to exceed $5,000 or imprisonment
not to exceed 15 days, or both.